Reis Helps California Assisted Living Owner Exit the Business

Rob Reis of Marcus & Millichap recently sold a 45-unit assisted living community in Modesto, California, representing the single-asset owner/operator who was looking to exit the business. The seller developed the property in the 1980s, and has operated it ever since. Occupancy was 84%, and it was bringing in nearly $385,000 in NOI on approximately […]

Minnesota Assisted Living Community Gets A New Neighbor

In a deal that was anything but ordinary, Ray Giannini of Marcus & Millichap sold an assisted living community plus an adjacent vacant skilled nursing facility in Owatonna, Minnesota for about $2.95 million, or $59,100 per unit. Steele County previously owned both of the buildings and brought in Benedictine Health System (BHS) to manage them. […]

Milwaukee
Milwaukee

Hurricane-Damaged SNF Sells in Georgia

Despite a wing still not operational since Hurricane Matthew in 2017, a skilled nursing facility in Midway, Georgia changed from one not-for-profit’s hands to another’s. Magnolia Manors, a Methodist-affiliated operator of eight other locations throughout south Georgia, acquired the 150-bed facility for a sum of $6.85 million, or $45,600 per bed. Mike Pardoll of Marcus […]

Pardoll Closes Another Personal Care Sale in Atlanta Area

Marcus & Millichap’s Mike Pardoll sold yet another small personal care community in Georgia to Affinity Living Group, following his sales last month of a 23-unit property in Bainbridge (for $1.2 million, or $52,200 per unit) and a 36-unit community in Vidalia (for $1.3 million, or $36,100 per unit). Representing a private investor, he has […]

Pardoll Closes Slew of Southeast Sales

Mike Pardoll of Marcus & Millichap has spent the last few months crisscrossing the Southeast, closing a number of seniors housing and skilled nursing transactions along the way. Starting in Dickson, Tennessee (Nashville MSA), he represented a private individual in selling their 70-bed skilled nursing facility to another private individual buyer. Leased by Mission Health […]

Milwaukee
Milwaukee

Contemporary Closes Mezzanine Loan for Cascade Acquisition

The team at Contemporary Healthcare Capital closed a $5 million mezzanine loan to the affiliates of Citadel Care Centers and Cascade Capital Group for their acquisition of four skilled nursing facilities in Florida. The portfolio totals 460 licensed beds and has locations in Fernandina Beach, Haines City, Orange County and North Port. Contemporary closed the […]

Giannini Sells Two Rural SNFs in Northern Minnesota

Two skilled nursing facilities that are struggling with census sold in rural Minnesota thanks to Ray Giannini of Marcus & Millichap. Featuring 80 skilled nursing and 10 assisted living beds at one location in Eveleth, and 83 skilled nursing beds in the town of Virginia, these facilities were both built in the 1960s near the […]

Cascade Capital Continues to Grow

Cascade Capital Group announced a few large transactions totaling 15 skilled nursing and assisted living facilities with more than 1,550 licensed beds for a combined purchase price of $130 million. In one of the transactions, Cascade purchased eight skilled nursing facilities in California that are being leased to The Ensign Group and The Providence Group, […]