• Thank You Ortelius?

    Brookdale Senior Living just reported June occupancy, and the increases were much better than we expected for a second quarter, which historically has been a mixed bag for the industry. Let’s just say, we were impressed. June’s same-community weighted average occupancy was 81.1%, up 220 basis points year over year and up 50 basis points... Read More »
  • SLIB Sells SNF in New Jersey

    Toby Siefert of Senior Living Investment Brokerage got a skilled nursing sale in New Jersey over the finish line after survey issues caused a buyer switch-up. Built in 1980, Medford Care Center is located in the town of Medford (about an hour east of Philadelphia) and features 180 beds on an 11-acre campus. Operations were not strong, and the... Read More »
  • Carnegie Capital Celebrates 10-Year Anniversary with Texas Portfolio Deal

    Carnegie Capital, the national seniors housing debt brokerage founded and run by JD Stettin and David Farhadian, celebrated its 10-year anniversary with a $124 million, or $117,100 per bed, portfolio acquisition transaction. Carnegie provided a combination of advisory work and debt placement for the nine-skilled nursing facility portfolio with... Read More »
  • 12 Oaks Senior Living Appoints New CFO

    12 Oaks Senior Living appointed Elliott Westerman as CFO, effective immediately. Westerman has more than two decades of leadership experience across senior living, healthcare, and real estate sectors. As CFO, Westerman will oversee all aspects of financial management, including financial planning and analysis, capital structure strategy,... Read More »
  • Ensign/Standard Bearer Adds Two Facilities

    The Ensign Group acquired a couple of skilled nursing facilities through its real estate subsidiary Standard Bearer Healthcare REIT. The first purchase was for Duncanville Healthcare and Rehabilitation Center, a 124-bed SNF in Duncanville, Texas, which will be operated by a third-party operator subject to a long-term, triple-net lease. Ensign... Read More »
Colliers Handles Two AL Sales in Pennsylvania

Colliers Handles Two AL Sales in Pennsylvania

Two assisted living communities in Allentown, Pennsylvania just sold with the help of Bob Gaines at Colliers International. The first community, called Victoria’s Place, includes 80 one-bedroom & studio assisted living apartments. Victoria’s Place was recently constructed and features 59,500 square feet but currently sits vacant. Amenities include common areas, a dining room, bistro, private family dining room, courtyards for assisted living and memory care, an entertainment area, multiple seating areas, movie theater, physical therapy and a salon. Built in 1991, Mountain View is operational and features 115 licensed beds, although occupancy was not disclosed. Across 54,693 square... Read More »
Colliers International Announces Florida Portfolio Deal

Colliers International Announces Florida Portfolio Deal

Damien and Ken Carriero of Colliers International kicked off their 2021 campaign with the sale of three assisted living communities totaling 180 units and 313 beds in Florida. Previously owned by Florida Seniors Properties, Inc., these communities are located in Port Richey, Casselberry and Zephyrhills, with an average occupancy of just 66%.   Best Care Senior Living, LLC purchased the Port Richey property, while another ownership entity bought the other two communities. Colliers simultaneously closed the transactions on January 12. The combined purchase price was $13.7 million, or $76,100 per unit.    Read More »
Colliers International Ushers Allina Health Out of Seniors Housing Industry

Colliers International Ushers Allina Health Out of Seniors Housing Industry

Allina Health exited the seniors housing market with the sale of its 45-unit independent living community in Cambridge, Minnesota, working with Brian Bruggeman and Louis Suarez of Colliers International to get the deal done. Built in 1988, the two-story community features both one-bedroom and two-bedroom unit options on its 4.35-acre campus adjacent to Cambridge Medical Center. There is a dining room, full kitchen, laundry room, beauty salon, lounge with fireplace, a library and an outdoor, three-season porch. Historically, occupancy was between 90% and 95%, which stayed consistent through 2020.  Not-for-profit Presbyterian Homes & Services (PHS) acquired... Read More »
Colliers International Handles Two Transactions

Colliers International Handles Two Transactions

Colliers International has been busy this week, closing the sale of a Section 8 senior apartment community in New Jersey and also a trio of HUD mortgages for three market-rate senior co-ops in the Midwest. First, to the sale. Colliers represented Squiretown Properties LLC in its disposition of a 405-unit community in this Newark suburb of East Orange. Built in 1980, but with no major renovations since then, the community’s affordability status was set to expire in 10 years. However, a partnership between Community Preservation Partners and L+M Development Partners has extended that to 30-years with their acquisition of the community. The purchase price totaled $94 million, or $232,100 per... Read More »
Colliers International Announces Two Closings

Colliers International Announces Two Closings

Colliers International closed a couple of sales involving assisted living communities that also cared for adults with mental disorders or developmental disabilities. First, the Tampa, Florida team led by Ken and Damien Carriero worked on behalf of Loving Care of St. Petersburg, Inc. to sell a 60-unit/120-bed AL community in St. Petersburg, Florida. It came with a Limited Mental Health Specialty License and was 80% occupied at the time of the sale. Best Care Senior Living at St. Pete, LLC was revealed as the buyer, but no purchase price was disclosed.  Then, Elena Bakina of Colliers International represented the seller of a similar community in southwest Houston, Texas. Classified as a Type... Read More »