• Another Senior Care REIT Files for IPO

    Another senior care REIT is eyeing the public markets after filing a registration statement with the SEC for a proposed offering of Class A common stock. National Healthcare Properties’ offering remains subject to market conditions and other customary conditions, and the number of shares and pricing range have not yet been determined. And if... Read More »
  • SLIB Handles High-Quality SNF Sale in Texas

    Matthew Alley of Senior Living Investment Brokerage handled the sale of a high-quality skilled nursing facility in Lubbock, Texas. Built in 2010 and 2013, Crown Point Health Suites features 108 beds and is well maintained. It also performed strongly, with a 20% margin on nearly $14.5 million of revenues, and an 86% occupancy rate. Its independent... Read More »
  • Jaybird Senior Living Acquires Multi-State Portfolio

    An affiliate of Jaybird Senior Living, Jaybird Capital, acquired five senior living communities across Utah, Wisconsin and Minnesota. Jaybird assumed management of the communities in October and stabilized them before executing on the purchase. The company is currently targeting the addition of 15 more communities to its portfolio throughout the... Read More »
  • Newly Formed Investment Firm Enters Senior Care

    An 84-unit assisted living/memory care community in Jacksonville Beach, Florida, recently traded with the help of Continuum Advisors, which represented the institutional joint venture seller. Built in 2014, Beach House has 64 assisted living and 20 memory care units, with 100 licensed beds. It is situated on a barrier island near some of the most... Read More »
  • Seller Divests Geographic Outlier to Large Owner/Operator

    Senior Living Investment Brokerage announced that it sold a well-occupied seniors housing community in Oregon. The building is on an acre in Sheridan, and comprises 44,805 square feet. It was developed in 1996 and features 53 assisted living units. The community was 94% occupied at the time of closing.  Jason Punzel, Vince Viverito, Jake... Read More »
Juniper Communities Shifts Focus from Florida

Juniper Communities Shifts Focus from Florida

Juniper Communities has completely exited the state of Florida, with Bradley Clousing and Jeff Binder of Senior Living Investment Brokerage facilitating the final sale. With the transaction, the assisted living/memory care provider will now focus on its established Northeast and Colorado markets, where it has eight communities in Pennsylvania, two in New Jersey and five in the Centennial State. The Naples community was originally built in 2000, which in the heavily developed southwestern Florida market is certainly on the older side. Age isn’t everything, but it does usually affect the rents you can charge, which has a cascading effect if any fixed or variable costs were to suddenly shoot... Read More »
Juniper Communities Jumps on Pennsylvania Property

Juniper Communities Jumps on Pennsylvania Property

New Jersey-based Juniper Communities added another Pennsylvania senior living property to its portfolio with the acquisition of a 103-unit assisted living/memory care community in Chestnut Hill (Philadelphia MSA). With the deal, Juniper now owns or operates 12 properties in the Keystone State. The campus is centered around a stone mansion built in 1865 set alongside sprawling grounds and walking paths. There was an addition in 1986 that added common areas plus AL units, and another addition in 1998 that added memory care units, AL units and even more common areas. Carlyle Senior Living acquired the community in 2006 for $8 million, or $77,700 per unit. How times have changed. We’re unsure... Read More »
Juniper Communities Lands Lakewood Assisted Living Communities

Juniper Communities Lands Lakewood Assisted Living Communities

Juniper Communities added two more properties to its portfolio, which now numbers 23 communities in Pennsylvania, Colorado, Florida and New Jersey. Both new additions are located in Lakewood, Colorado, about 10 miles from downtown Denver, and join Juniper’s three other communities in the metro area. One community was built in 2008 with 65 assisted living and 42 memory care units, while the larger community has 118 assisted living and 19 memory care units, and was built in 1999. The new management contracts give New Jersey-based Juniper scale in the state and enables them to pilot additional ancillary services in the Denver area. Read More »

Bensalem Blues

There is some work to be done for the new owner of an entrance-fee CCRC in Bensalem, Pennsylvania. Juniper Communities (headed by CEO Lynne Katzmann) purchased the community for $13.65 million, or $38,343 per unit, which is well off its 2005 (yes, 2005) price of $17.35 million, or $48,464 per unit. Back then, the unit breakdown was very similar to today’s, which is currently 279 independent living units, 60 assisted living units and 17 skilled nursing beds. Plus it was operating at a 16% margin with a 95% occupancy rate. While the community’s current operations were not disclosed, we have to assume they have fallen off some given the 21% decline in price. Built in 1981 with expansions in... Read More »