• Stand-Alone MC Community Trades in Arizona

    Blueprint represented an institutional seller in the sale of its stand-alone memory care community in the Lake Havasu City-Kingman, Arizona MSA. Built in 2009, the asset features 48 units with 60 beds and received approximately $2 million in recent capital improvements. There is opportunity for occupancy growth and rental rate optimization. ... Read More »
  • Clarion Partners Continues Its Acquisition Streak

    Clarion Partners continued on its acquisition streak, adding two communities in California to its growing portfolio. The latest deal featured The Commons on Thornton and The Commons at Union Ranch, two seniors housing communities totaling 198 units in California’s Central Valley. They were previously owned and operated by MBK Senior Living, which... Read More »
  • Multiple Senior Care Acquisition Financings Close

    M&A transactions are getting done at a near-historic pace, and CIBC Bank USA recently financed three deals. The largest was $43.3 million in acquisition financing for two senior care assets in the Nashville area of Tennessee. The properties include a combined 310 independent living units, 273 skilled nursing beds and 93 assisted living/memory... Read More »
  • Olympus Retirement Living Expands

    The Zett Group closed the sale of a 63-unit assisted living/memory care community in the Boise, Idaho market. Set in the town of Emmett, Meadow View Senior Living was trending positively in its operations, but there was still some work to be done. An owner/operator engaged Blake Bozett and Spud Batt to sell the community to an undisclosed buyer.... Read More »
  • Large Senior Care Portfolio Trades Hands

    A portfolio comprising senior care assets across Washington State recently sold with the help of JCH Senior Housing Investment Brokerage. At first, only one of the assets was brought to market, but an offer emerged for the entire nine-facility portfolio. The price for the skilled nursing, assisted living and independent living campuses ranged... Read More »

CareTrust’s California buying spree

California-based CareTrust REIT didn’t travel far to close its last couple of deals, adding five in-state senior care facilities to its portfolio in just a week. First, the REIT acquired a 59-bed skilled nursing facility in Petaluma for $6.9 million, or $116,949 per bed, bringing in a new tenant in West Harbor Healthcare to operate. CareTrust expects the acquisition will generate initial annual rental revenue of approximately $670,000, under an initial 15-year lease, with two five-year extension options and CPI-based rent escalators. Then, CareTrust bought a senior care portfolio in Northern California, with a skilled nursing facility and an assisted living community each in the towns of... Read More »
Minnesota SNF/ALF

Minnesota SNF/ALF

In another sale involving skilled nursing beds and assisted living, Ray Giannini of Marcus & Millichap sold a nursing facility in Duluth, Minnesota for $10.0 million, or about $53,000 per bed. Occupancy was solid and there were more than 180 total beds involved in the sale. Read More »
California SNF/ALF Sells

California SNF/ALF Sells

Krone Weidler of Weidler Integrated Healthcare Investment Properties, in affiliation with Marcus & Millichap, sold a skilled nursing and assisted living facility in California to a local private equity investor. Built in 1991, the property has 120 skilled nursing beds and 85 assisted living beds with occupancy that has been around 94%. The sales price was $15.6 million, or $76,100 per bed, and the buyer may have to turn the operations around a bit. Read More »

Legacy in Montgomery

Already the second deal closed in the Montgomery, Alabama area in recent weeks (following Birchwood Health Care Properties’ purchase of a 64-unit memory care community for $4.75 million), Legacy Senior Living spent $3.3 million, or $113,793 per unit, to acquire a 29-unit memory care community in Prattville. Built in 1999 with an addition in 2005, the property was 94% occupied and operated at a 23% margin on approximately $1.3 million of revenues. Plus, with limited competition in the area and a consistently high census, there is an expansion opportunity. Mike Pardoll of Marcus & Millichap represented the seller, a group of private investors, in the transaction. Read More »
Dialed in

Dialed in

Mark Myers, Joshua Jandris, and Matthew Andriano of Marcus & Millichap arranged the sale of a 188-unit senior living community in Crest Hill, Illinois, about 40 miles southwest of Chicago. The property, consisting of 112 assisted living/memory care units and 76 independent living units, was acquired by a joint venture between Dial Retirement Communities and a private equity fund. The sellers were two entities controlled by Greg and Renee Wolf, a couple who had developed the facility over the past 15 years. Dial will take over operations and add new programming in the process. The purchase price was not disclosed. Read More »