Ardent Senior Living Sells Rochester ALP Community
Seven years after acquiring an assisted living/independent living community in Rochester, New York, Ardent Senior Living is selling the property to a New York-based owner/operator. Originally built in 1974, the community features 115 assisted living units (with 200 licensed beds) and a 42-unit independent living building. The campus participates in New York’s Assisted Living Program (ALP), which provides a higher level of care (close to skilled nursing) in an assisted living setting for Medicaid residents. It’s a win for the state, which can reimburse nearly skilled nursing level care at a lower rate, and for the providers, which can take in Medicaid residents at a... Read More »
A True Success Story in Oregon
About 35 years ago, an Ivy League educated pioneer decided to buy a senior living community. His friends and family thought he was nuts. In 1985, after all, it wasn’t exactly the industry where aspiring entrepreneurs went to seek their fame and fortune. So, one Shelly Smith and a financial partner bought a relatively new retirement community that only had independent living at the time, as “assisted living” was not yet in the industry vernacular. Located in Salem, Oregon, Smith started expanding the campus in the early 1990s and built one of the first assisted living communities in Oregon. After that, he added IL cottages in 1997, more assisted living units in 1997, and picked... Read More »
Blueprint Announces Three Senior Care Closings
Blueprint Healthcare Real Estate Advisors previously announced a total of six transactions closing at the end of June and beginning of July, and now the details on a few of those are coming out. Michael Segal and Ben Firestone have now sold every skilled nursing facility in the eastern Kentucky town of Pikeville. Two years ago, the pair sold a 106-bed SNF located near the 250-bed Pikeville Medical Center, representing the publicly traded REIT seller. Earlier this month, they sold the other. Built in 1979 and renovated in 1987, the 120-bed facility features mostly semi-private rooms. It maintained steady occupancy above 90% and generated consistent revenues over $9... Read More »
Blueprint Healthcare Real Estate Advisors Closes Six Deals
With all the difficulties in securing debt, visiting properties and obtaining third-party approvals, let alone the financial uncertainty of purchasing a senior care property right now, deals are still getting done, and Blueprint Healthcare Real Estate Advisors announced the closing of six senior care transactions in a three-day span. Those transactions totaled more than $76.6 million too. We’re sure it took a lot of creativity and some long nights to get over the finish line, so well done. The deals closed at the end of the second quarter and into the third, a typically busy time for dealmaking normally, but this represented a 50% increase over Blueprint activity during the same... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
