• Senex Foundation Divests SNFs to Owner/Operator

    Vince Viverito, Jason Punzel, Jake Anderson and Taylor Graham of Senior Living Investment Brokerage were engaged by Senex Foundation, a Denver, Colorado-based owner/operator, to help with the disposition of a four-property portfolio and recently closed the second tranche involving two skilled nursing facilities in Nebraska. The deal included the... Read More »
  • 60 Seconds with Swett: The REITs’ Acquisition Appetite

    With most of the Q1 earnings results in, we’ve been sifting through a lot of good news on occupancy growth, resident rate increases, expanding NOI margins and the phenomenal long-term outlooks. But our main takeaway had to be the major M&A plans that almost every publicly traded company has completed so far this year and plans to close... Read More »
  • Sonida Senior Living Reports Q1 as CNL Deal Reshapes Portfolio

    Sonida Senior Living reported its first quarter results after becoming the eighth largest seniors housing owner toward the close of the quarter. The company completed its acquisition of CNL Healthcare Properties, a public, non-traded REIT that owned 69 seniors housing communities, bringing Sonida’s owned portfolio to 153 owned properties and... Read More »
  • Alta Senior Living Secures Refinance

    At the end of 2021, Alta Senior Living acquired Tequesta Terrace Senior Living (at that time, Village of Tequesta, Tequesta Terrace), a 106-unit assisted living/memory care community in Palm Beach County, Florida. After executing its value-add capex, operational turnaround and lease-up plan, Alta engaged Blueprint to run a full debt process. A... Read More »
  • All-Cash Skilled Nursing Deal Closes

    An undisclosed buyer acquired a 99-bed skilled nursing facility in Ohio through an all-cash transaction after the seller’s senior lender pushed for an exit. Stan Klos III of 3G Healthcare Real Estate handled the deal. An initial buyer walked away from the deal after a conversion from a lease-only structure was declined by the lender. Another... Read More »
Tryko Partners Grows Again

Tryko Partners Grows Again

A few weeks after HCR ManorCare filed a pre-packaged bankruptcy petition, yet another one of its skilled nursing facilities has been sold. This facility is located in Yeadon, Pennsylvania, which is outside of Philadelphia, and Tryko Partners was the buyer. Built in 1995, the 129-bed facility is located adjacent to Mercy Fitzgerald Hospital, which is part of the Mercy Health System. Apparently, this was not one of the underperforming facilities operated by HCRMC, as it maintained a four-star rating from CMS and a five-star rating for quality measures. Nice to hear. Tryko’s affiliate, Marquis Health Services, will operate the facility and they expect to invest more than $2.5 million in the... Read More »
Tryko Partners Purchases Another Philly-Area SNF

Tryko Partners Purchases Another Philly-Area SNF

New Jersey-based private equity firm Tryko Partners, just added a third Pennsylvania property to its portfolio in a deal handled by Toby Siefert and Ryan Saul of Senior Living Investment Brokerage. Located near Philadelphia, the 129-bed skilled nursing facility was built in 1995 but recently received $1 million in capital improvements while under management by a national operator. In those projects, a new 1,500-square foot therapy space was added. Operations were solid, with an operating margin above 10%, a 95% occupancy rate and a quality mix above 35%. Like in all of its senior care transactions, Tryko will have its in-house operating company, Marquis Health Services, manage the... Read More »