• Las Vegas SNF Commands Premium

    We had heard of a high-end skilled nursing facility being marketed for sale in Las Vegas, Nevada, at a very high price for a few months now, and it appears that the sale has closed. Evans Senior Investments announced that it sold Sandstone Spring Valley, a 160-bed skilled nursing facility that was built just 10 years ago. It features an 80-unit... Read More »
  • Genesis Stalking Horse Raises Bid

    The stalking horse bidder for Genesis HealthCare’s 298 affiliated holding companies, ancillary businesses and insurance vehicles has upped its offer, and the deal is set for an approval hearing on December 10. Genesis, which previously held the title of largest skilled nursing operator in the country, filed for Chapter 11 bankruptcy protection in... Read More »
  • SLIB Closes Strong SNF Sale in Colorado

    Two well-run skilled nursing facilities in Colorado sold with the help of Vince Viverito, Jason Punzel, Ryan Saul and Jeff Binder of Senior Living Investment Brokerage. Located in Fort Collins and Windsor, the facilities were built in 1988 and 2018 and featured 445 beds in total. The facilities also comprised 18 total acres and nearly 270,000... Read More »
  • Ensign Buys Kansas City SNF

    The Ensign Group acquired a 45-bed skilled nursing facility in Kansas City, Kansas, that was in need of an operational turnaround. Built in 1974 with additions in 1983 and 1995, Medicalodges Post Acute Care is set on nearly 11 acres in a residential area. It was previously owned by a Kansas-based owner/operator that was divesting in order to... Read More »
  • Communities Pass Between Family Owner/Operators

    A multigenerational family owner/operator recently divested its well-occupied portfolio to a new family owner/operator in Beaverton, Oregon. The all-private pay communities consisted of a 183-unit full-continuum community opened in 2002 and a 58-unit assisted living community opened in 1996. Blueprint handled the sale and financing.  The... Read More »

Two Seniors Housing Developments Find Financing With HJ Sims

HJ Sims helped land financing for a couple of luxury senior living developments across the country this month, with two bond placements totaling over $45 million. The larger project, located in Palm Coast, Florida, is being developed by affiliates of the Tuscan Garden Group to include 86 assisted living and 44 memory care units (166 total beds). At a cost of approximately $56 million, or $430,000 per unit, the three-building community is located adjacent to the master-planned community of Grand Haven. Sims sold about $11 million of the bonds to its accredited investor base, with the balance going to six institutional investors. The issuance included $39.55 million of senior... Read More »