Cadence Living and Dylan Investments Acquire Oregon Community
The M&A market is trudging along, and we suppose that is all we can hope for given the new risks facing the senior care industry and new hurdles for closing deals today. Scottsdale, Arizona-based owner and operator Cadence Living joint ventured with Dylan Investments, a boutique real estate investment firm based in Los Angeles, to acquire an assisted living/memory care community in an affluent suburb of Portland, Oregon. All parties involved had help on the deal, with Orix Securites representing the seller and Amy Sitzman and Giancarlo Riso of Blueprint Healthcare Real Estate Advisors advising the buyers. Built in 1998 and having undergone a memory care conversion in 2016, the... Read More »
Blueprint Facilitates Royal Senior Care’s Invesque Exit
Blueprint Healthcare Real Estate Advisors helped Invesque exit its entire Royal Senior Care portfolio. That included the sale of two properties and transition of the other four properties to another existing operating partner. One of the sold properties was a 60-unit assisted living/memory care community in Eatonton, Georgia. Built in 2014 with 42 AL and 18 MC units, this community was originally purchased by Care Investment Trust for $15.5 million, which was then taken over by Invesque. Royal also owned a 35% interest in the property and is acquiring the remaining interest for an undisclosed price. The other property was located in Florida and sold to a third party. The four... Read More »
Blueprint Closes Another LTC Properties Sale
After representing LTC Properties in its five-phase sale of a 2,500-bed skilled nursing portfolio, Blueprint Healthcare Real Estate Advisors went back to the well, handling LTC Properties and Senior Lifestyle Corp.’s sale of two large seniors housing campuses in Arizona. The deal closed on April 21, with Humair Sabir, Amy Sitzman and Jacob Gehl leading the way. One campus is located in Peoria (northeast of Phoenix) and features approximately 430 units in a prime location near regional medical centers. The other campus is in Yuma and totals about 150 assisted living and memory care units. Both properties could use some capital improvements, offering an opportunity to add value to the... Read More »
Blueprint Wraps Up LTC Properties Portfolio Sale
Blueprint Healthcare Real Estate Advisors announced the final three phases of LTC Properties’ portfolio sale that sold to multiple buyers and closed from late-2019 to the first quarter of this year. It was revealed that seven skilled nursing facilities and about 550 beds in Iowa sold to a private owner/operator. Five of the facilities were located around Des Moines, and all seven offered upside to the new owner if they focused on certain geographical and management-level efficiencies. Humair Sabir and Jacob Gehl of Blueprint handled the deal, which closed in the first quarter. That same pair then sold three skilled nursing facilities in Colorado, with two located in the Denver MSA and one... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
