Amid rumors that a moratorium has been placed on large Chinese companies making significant purchases in the U.S. senior care market (like Zhonghong Zhuoye Group Co Ltd.’s proposed acquisition of Brookdale Senior Living), Hong Kong-based Chevalier International Holdings Ltd. continues to invest, recently adding two more senior living communities and 299 units in the Detroit, […]
Healthcap Partners enlisted the help of Cody Tremper and Mike Garbers of Greystone Real Estate Advisors to sell their 60-unit/72-bed assisted living/memory care community in Forney, Texas (Dallas MSA). Cornerstone Senior Living was the buyer, adding their eighth community in 18 months at a price of $12.5 million, or $208,333 per unit. The community was […]
Mike Garbers and Cody Tremper of Greystone Real Estate Advisors finished out the year strong with three closings, including U.S. Memory Care’s sale of four MC communities in Texas to a private investor, and a publicly traded REIT’s divestment of a 298-unit independent living community operated by Brookdale Senior Living in Southfield, Michigan. Tremper and […]
Michigan has been in the news a lot lately as the home of political upsets and recounts. But it’s also the home of Mike Garbers and Cody Tremper’s (of Greystone Real Estate Advisors) latest transaction. The duo represented a publicly traded REIT in the sale of its 298-unit independent living community in Southfield, Michigan to […]
With some of the largest units in the region, a 211-unit assisted living/memory care community in Bedford, Ohio sold to Pritok Capital for $6.5 million, or $30,805 per unit. The community was not purpose-built for assisted living, which caused some operational challenges and thus resulted in a lower price. But, the 198 AL units average […]
Greystone Real Estate Advisors certainly ended May with a bang, closing the largest transaction of the month at a value of $210 million, or $202,117 per unit. Involving seven senior living communities in Texas and one in Oklahoma City, the sold portfolio was owned by Harrison Street Real Estate Capital and Bridgewood Property Company. Built […]
Carmel, Indiana-based seniors housing developer Leo Brown Group sold two of its recently completed Indiana communities to an undisclosed private equity investment fund for $44.8 million, or $240,591 per unit. The price is a step up from a previous transaction from Leo Brown, when the developer sold a fully occupied, three-year old 140-unit senior living […]
Despite many believing we have already reached the peak, pricing-wise, in the seniors housing M&A market, it is still a very good time to sell. That is at least what SRP Medical was banking on when it sold its newly built 108-unit assisted living/memory care community to a joint venture between Harrison Street Real Estate […]
Pacifica Companies is exiting the Georgia market with the sale of its two assisted living/memory care communities in the Atlanta metro area. The portfolio, which includes a 58-unit community with 36 assisted living units and 22 memory care units in Dunwoody, Georgia, and a 32-unit stand-alone memory care community in Roswell, Georgia, was approximately 75% […]