• Public REIT Divests to Owner/Operator

    Blueprint facilitated the sale of a Massachusetts skilled nursing facility on behalf of a public REIT in the senior care sector. The REIT determined that the facility was a strong candidate for sale due to its location. Plus, the former operator was switching focus to other assets in its mutual portfolio.  Purpose-built in 1982 with... Read More »
  • Development Company Acquires Through Membership Buyout

    A Missouri-based real estate developer engaged Blueprint to facilitate its membership buyout of a joint venture partner. Brooks Blackmon, Ben Firestone and Lauren Nagle handled the transaction. Four years ago, the firm was brought on to raise capital, ultimately sourcing an institutional capital partner to develop a private pay seniors housing... Read More »
  • 60 Seconds with Swett: Previewing Our Capital Markets Conversation

    We know that the capital markets have made the biggest impact on M&A activity and property valuations in the last several years, changing the size of possible deals, the makeup of the properties sold and the buyers that could actually buy. Now that the capital markets have substantially improved and are getting better, barring a sudden and... Read More »
  • Seller Exits Seniors Industry with Divestment to REIT

    A single-asset seniors housing owner is exiting the industry with the sale of their property in Murrieta, California. Built in 2016 and 2018, Renaissance Village Murrieta has 142 units of assisted living and memory care in three stories. It was operating just below 70% occupancy, so there is plenty of room for a new owner to improve performance... Read More »
  • Deal Closes Following Buyer Withdrawals

    After a long process that saw multiple buyers pull out from the deal, the sale of Sarah Neuman Skilled Nursing Facility in Mamaroneck, New York, has closed with the help of Mark Myers at Kiser Group. Owned by a religious not-for-profit organization, The New Jewish Home, the facility features 301 beds and was losing money. Myers had previously... Read More »
Another Portfolio Deal From Blueprint

Another Portfolio Deal From Blueprint

Blueprint Healthcare Real Estate Advisors didn’t have to go far to close its next portfolio deal. Michael Segal and Ben Firestone worked together out of the firm’s Chicago headquarters to sell three skilled nursing facilities in central Illinois. Totaling over 450 licensed beds, the portfolio was operating slightly above breakeven, with occupancy in the mid-80s. An experienced investor in the space and a Chicago-based operator teamed up to acquire and operate the portfolio, paying an undisclosed price. The deal follows Blueprint’s successful sale of three seniors housing properties in Utah to SmartStop Asset Management, arranged by Jacob Gehl, Amy Sitzman and Giancarlo Riso. It also comes... Read More »
Live Oak Bank Comes Alive In Seniors Housing Lending

Live Oak Bank Comes Alive In Seniors Housing Lending

After launching its senior care lending division and hiring Adam Sherman (most recently of Blueprint Healthcare Real Estate Advisors and before that of RED Capital Group) as the new division’s industry expert late last year, Live Oak Bank just provided its first loan to a seniors housing property. The bank (the second-largest SBA lender in the country) closed a $3.6 million SBA 7a construction loan for a private owner/operator to build a 24-unit memory care community in Springboro, Ohio (Cincinnati MSA). It came with a 24-month interest-only period and 26-year fully amortizing term. The bank is looking to grow this business in the seniors housing space, rather than the more-regulated... Read More »
Will New Records Be Set in 2018?

Will New Records Be Set in 2018?

On Thursday, February 15, our Editor Steve Monroe moderated a 90-minute webinar titled “Will New Records Be Set? The Numbers, the Deals, the Stats on all Seniors Housing and Care M&A,” with a panel of experts to discuss the 2017 seniors housing and care M&A market, with pricing statistics from our upcoming Senior Care Acquisition Report, to be published next month. There were a few records set in 2017 (for details on those records, check out either the webinar or the Report), but with labor, occupancy, overdevelopment and interest rate headwinds facing the seniors housing and care industry, would that robust M&A market continue into 2018? That’s what our panel of experts,... Read More »
Partnership Purchases Signature HealthCARE-Operated Skilled Nursing Facility

Partnership Purchases Signature HealthCARE-Operated Skilled Nursing Facility

A Signature HealthCARE-operated property was divested by a publicly traded REIT owner, amid rumors that Signature has recently had issues making payments to its REIT landlords. Located outside of Tampa, Florida, the 120-bed skilled nursing facility was built in 1983, renovated in 2009 and was well maintained. It was ideally located, a few blocks from a major hospital, but census issues and escalating liability insurance costs affected operations. Trent Gherardini, Michael Segal and Ben Firestone of Blueprint Healthcare Real Estate Advisors represented the seller and led a bidding process that yielded 13 qualified offers. A partnership between a high-net-worth investor and an experienced... Read More »
Another Big Sale For Blueprint Healthcare Real Estate Advisors

Another Big Sale For Blueprint Healthcare Real Estate Advisors

Fresh off their top spot in our 2017 broker rankings (in terms of number of deals, properties and units/beds transacted), Blueprint Healthcare Real Estate Advisors seems to be eyeing that top spot for 2018 too, announcing that it represented a public REIT in its recent disposition of 20 Genesis Healthcare-operated skilled nursing facilities. The REIT ended up being Sabra Health Care REIT, and the deal itself doesn’t come as a surprise, as Sabra announced earlier in 2017 that, in an attempt to diversify its operator base (and lessen its share of Genesis properties), it was marketing for sale 35 properties under a memorandum of understanding with Genesis. These 20 facilities (part of the... Read More »