Cushman & Wakefield Sells Miami-Dade Portfolio
It took a couple of years, but Cushman & Wakefield has finalized the sale of a portfolio of 10 senior care facilities in Miami-Dade County, Florida, on behalf of the seller, A.D.M.E. investment partners. Totaling 1,289 beds and over 370,800 square feet, the properties consisted of a mix of assisted living and skilled nursing facilities. The AL communities ranged in size from 12 units and 50 beds to 65 units and 118 beds, and sold between $38,200 per unit and $90,500 per unit. The SNFs ranged in size from 120 beds to 203 beds, and sold between $25,000 per bed to $119,900 per bed, with one deal also involving the termination of a ground lease on the property for $5.8 million. The last... Read More »
Regions Bank and Cushman & Wakefield Finance Auctus-Owned Community
Regions Bank Healthcare Real Estate Group announced a balance sheet loan closing at the start of February for a client in northern California. Originally built in 1975 in Carmichael, the property being refinanced is a 98-unit independent living community. Auctus Capital Partners acquired it in 2015, with plans to invest in capital improvements. So, it underwent a significant renovation and conversion project in 2018, and is now in the final stages of lease-up. Auctus put an operating affiliate, Altum Senior Living, in place to manage the community. Working with a new customer for the bank, Chris Honn secured a $5 million loan, with a three-year term and three years of interest only, to... Read More »
Values Surge Despite Persistent Worries
The 25th Edition of The Senior Care Acquisition Report is almost ready, but get your sneak preview and analysis in our upcoming webcast. We are diligently working on the 2020 edition of the Senior Care Acquisition Report, which we hope to have ready for publication by the end of the month. It will be the 25th edition of this market-leading report, and it has valuable M&A statistics that you will not find anywhere else, including trends over multi-year periods. Well, that is not exactly true. Next week we will be releasing some of those statistics in our annual webcast on the state of the seniors housing and care M&A market. Our panel will include brokers from Cushman &... Read More »
Cushman & Wakefield Ends 2019 With A Bang
The Cushman & Wakefield team led by Rick Swartz, Jay Wagner and Aaron Rosenzweig ended 2019 with a bang. In the last six weeks of the fourth quarter, they closed eight separate sales involving 18 properties and 1,908 units for a total consideration in excess of $500 million. The largest transaction was a seven-property portfolio for $103.25 million on behalf of Diversified Healthcare Trust. The team also placed the acquisition financing on several of the sales. A few smaller portfolios included the sale of three assisted living and memory care communities with 248 units in the Boston metro area and a two-property portfolio of 220 units in Albuquerque, New Mexico and Austin, Texas on... Read More »Schedule a demo
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