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
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
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 »Schedule a demo
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