Senior Care Campus Sells Near Philadelphia
A not-for-profit, faith-based operator of senior care services in the Philadelphia area sold its flagship senior care campus in North Wales, Pennsylvania. That seller, Abramson Senior Care, has over 150 years of experience caring for the Jewish elderly in the area and opened this community in 2001 on 78 acres. The campus includes 324 private skilled nursing beds, 46 personal care (assisted living) units and two independent living units. Well-maintained, it also received over $5 million in renovations since 2008 and carries a five-star rating from CMS. Abramson Senior Care made the decision to sell the campus but still wanted to see a continuation of its mission and religious programming,... Read More »
Blueprint Handles Two East Coast Sales
Blueprint Healthcare Real Estate Advisors handled a couple of sales on opposite ends of the East Coast. First, in Connecticut, Steve Thomes and Chris Hyldahl sold two skilled nursing facilities that were acquired by a private investment group based in New York City as part of a 10-SNF portfolio in late 2017. Combining for 197 licensed beds, one facility is located in the Hartford MSA, and the other is in Fairfield County near the New York border. Older facilities, they were occupied in the mid-70s when the marketing process started in 2019, and it’s fair to say the pandemic and ensuing lockdowns took a further toll on census. Revenues also at the time of marketing were approximately $16... Read More »
Blueprint Closes Two Senior Care Deals
M&A is chugging along in the senior care market, at last, and two teams from Blueprint Healthcare Real Estate Advisors handled a couple of transactions this week. First, in Ohio, Connor Doherty, Brian Payant and Ryan Kelly advised the estate and its advisory board in the sale of two senior care assets in the Cincinnati MSA. The campuses consist of 400 dually certified skilled nursing beds and 232 seniors housing units. Both also brought in positive cash flow. A New York-based private equity group with a strong presence in the local market emerged from the bidding process as the buyer, paying a price per bed that was high for the state. The deal brings Blueprint’s total 2020 Ohio... Read More »
Blueprint Handles Tacoma, Washington Transaction
A well performing assisted living community in Tacoma, Washington found a new owner with the help of Dan Mahoney and Blake Bozett of Blueprint Healthcare Real Estate Advisors. The seller has owned and operated the community for two decades, and is leaving behind a community with strong operations and cash flow. The 110-unit community caters to the middle market. Blueprint sourced a number of small owner/operators in Washington to take over and eventually found a local company with two other Tacoma communities. They worked with Harvest Bank to secure acquisition financing at 85% of the purchase price, which was not disclosed. The buyer plans to utilize its economies of scale in the Tacoma... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
