This covers all seniors housing and care transactions handled by Marcus & Millichap.
Knapp Group Seniors Housing Advisors of Marcus & Millichap closed a couple of sales around the Great Lakes. First, Jim and Justin Knapp teamed up to represent a local owner in their sale of an assisted living community in southeast Michigan, exactly 11 years after helping them initially acquire it. Built in 1987 and recently […]
Ray Giannini and John Klement of Marcus & Millichap helped the private owner of an assisted living community in Wisconsin exit the industry with its sale. Located minutes from downtown Milwaukee, Wisconsin in the town of Oak Creek, this 20-year old community has 36 private units, each with a bathroom and kitchenette. Occupancy was nearly […]
High-quality “A” level assisted living communities may have taken a back seat to the “B” properties in the 2018 M&A market, according to new statistics in our soon-to-be-published Seniors Housing Acquisition and Investment Report, but the team at IPA Seniors Housing (a division of Marcus & Millichap) sold one in a Sacramento, California suburb. Opened in […]
Ray Giannini of Marcus & Millichap sold a senior care campus in Wisconsin for $14 million, or about $80,500 per bed. Located on the Illinois border in Beloit, the property features 120 skilled nursing and 54 assisted living beds. The SNF was well occupied but with a high Medicaid census, while the assisted living was […]
Here’s something we may be hearing more of next year. Increased competition, lowered census and staffing issues prompted one owner of an assisted living/personal care community in Southwest Pennsylvania to retire early from the business. Built in 1965 and renovated in 1997, the 58-unit community had a history of strong profits and high occupancy until […]
In late November, the team of Mike Surak, Joshua Jandris and Mark Myers of Institutional Property Advisors, a division of Marcus & Millichap, closed on the sale of a 69-unit assisted living and memory care community in Knoxville, Tennessee. The community opened in early 2017 with 54,000 square feet on 6.91 acres. Of the total, 51 units are assisted […]
A lower cost provider of independent living and assisted living services in Spokane, Washington, sold with the help of Rob Reis of Marcus & Millichap. Mostly filled with Medicaid residents (over 70% of the census), this community features 220 licensed beds in 210 units on a 2.9-acre plot adjacent to Gonzaga University. Previously owned by Pacific […]
A tenant bankruptcy brought in a new operator and ultimately a new owner at a 198-bed skilled nursing facility in Alabaster, Alabama. Originally built in 1972, this SNF was historically above 90% occupancy with cash flow exceeding $1.5 million. However, licensure issues led to a drop in both census and operating margin (and combined with […]
Two separate teams from Marcus & Millichap announced transactions so far this month. First, the Knapp Group Seniors Housing Advisors, led by Jim and Justin Knapp, sold an 88-bed skilled nursing facility in the Detroit, Michigan area for approximately $7.0 million, or $80,000 per bed. Built in 1998, it was experiencing declining occupancy under its […]
Ray Giannini and John Klement of Marcus & Millichap’s Milwaukee Seniors Housing Group represented a not-for-profit in the sale of its two senior living communities in Buffalo, Minnesota (Minneapolis MSA). The buyer? It was another not-for-profit. The portfolio includes one purpose-built memory care community with 24 units (48 beds) and one repurposed 67-unit assisted living […]