• 60 Seconds with Swett: Navigating the Next Five Years in Seniors Housing M&A

    Are we entering the golden age of seniors housing? Next year, the first baby boomers will start turning 80, and with the current lack of new construction, occupancy rates are already rising before the real demographic wave hits. Many investors, both veterans and those new to our space, will feel pressure to grow their seniors housing holdings to... Read More »
  • Blackstone Sheds Another Asset from Its Seniors Housing Portfolio

    Blueprint handled a couple of sales in Florida and Nevada. The first in Florida involved a global private equity firm selling a 145-unit assisted living and memory care community in Boca Raton, Florida. Ben Firestone, Dillon Rudy and Jacob Ghel of Blueprint facilitated The Atrium at Boca Raton’s ownership transfer. The community presented certain... Read More »
  • CareTrust REIT Establishes SHOP Platform

    Three Texas seniors housing communities with 270 assisted living and memory care units were acquired by CareTrust REIT, Inc. The publicly traded REIT purchased the communities for $40 million, or $148,100 per unit. This marks the first investment of CareTrust’s SHOP platform. The communities were 86% occupied at the time of acquisition and will... Read More »
  • Ensign Grows Through Separate Transactions in Three States

    The Ensign Group, Inc. increased its portfolio through three separate acquisitions in Kansas, Arizona and Colorado. The publicly traded provider expanded its growing Midwest footprint through its Kansas acquisition of the real estate and operations of Willow Point Rehabilitation and Nursing Center, a 45-bed skilled nursing facility in Kansas... Read More »
  • Developer/Operator Divests to PE Firm

    A developer and operator sold Rivertown Ridge, a Class-A seniors housing community in the Grand Rapids suburb of Wyoming, Michigan, to a private equity firm. This community, built in 2020, features 152 units of independent living, assisted living and memory care, and has exhibited strong performance.  The seller, Redstone Homes, was... Read More »
Blueprint and BlueMountain

Blueprint and BlueMountain

Blueprint Healthcare Real Estate Advisors announced that it was involved in the Sabra Health Care REIT sale of 28 skilled nursing facilities in Texas and Louisiana to a joint venture of BlueMountain Capital Management, BM Eagle Holdings and Capital Funding Group for $282.5 million. Engaged by the joint venture buyer for their expertise on the Texas and Louisiana markets, Ben Firestone, Chris Hyldahl and Gideon Orion of Blueprint helped find local operating partners and tenants for the portfolio, which was previously operated by the now-bankrupt Senior Care Centers. Despite the bad news surrounding SCC’s financial troubles, these facilities were still operating decently well, particularly... Read More »

Kindred Healthcare Sells SNF Division To BlueMountain

Kindred Healthcare announced an agreement to sell 89 skilled nursing facilities with 11,308 beds and seven assisted living communities with 380 licensed beds for $700 million, or $59,890 per bed. In today’s world, that can be considered cheap, since it is nearly 40% below the average price paid per bed in 2016, but there is more to it than meets the casual eye, since there is a group of leased facilities outside of the Ventas-owned properties that will be purchased from Ventas as part of the larger transaction. However, occupancy stands at 78%, which is below the historically low current national average of about 82%. The buyer is private equity firm BlueMountain Capital Management, LLC,... Read More »