• Two Seniors Housing Communities in Indiana Trade Hands

    by | Apr 18, 2024 3:31 pm | Acquisitions | 0 comments

    Blueprint facilitated the divestment of two seniors housing communities in northwest Indiana. The value-add communities are in Michigan City and Merrillville and comprise 119 assisted living and memory care units. They had strong pre-pandemic financial performance but more recently benefited from a substantial Medicaid Waiver reimbursement rate... Read More »

  • Artemis/Bridgewood Acquire Texas Portfolio

    by | Apr 18, 2024 11:38 am | Acquisitions | 0 comments

    CBRE was engaged in the sale of four seniors housing communities in the Dallas, Texas MSA: Village on the Park Plano (Plano), Village on the Park Denton (Denton), Village on the Park Stonebridge Ranch (McKinney) and Village on the Park McKinney (McKinney). The communities comprise 366 total units of assisted living and memory care and were built... Read More »

  • Oklahoma Deal Overcomes Last-Minute Obstacles

    by | Apr 18, 2024 11:35 am | Acquisitions | 0 comments

    Plains Commercial Real Estate facilitated the sale of a skilled nursing facility in Oklahoma. The SNF was under legacy ownership and management, but the seller opted to divest to enter retirement and effectively exit the sector. Built in the 1960s, Latimer Nursing Home in Wilburton features 48 beds and occupancy hovered around 63% at the time of... Read More »

  • The Lodge at Mallard’s Landing Secures Refinancing

    by | Apr 18, 2024 11:33 am | Financings | 0 comments

    Northmarq handled a $35 million refinance of a senior care campus in Gig Harbor, Washington. Built in two phases from 2010 to 2015, The Lodge at Mallard’s Landing features 147 private pay independent living, assisted living and memory care units. The three-story main building comprises 98 IL/AL units and 24 IL cottages. The separate, two-story... Read More »

  • Bascom’s First Seniors Housing Acquisition of 2024

    by | Apr 16, 2024 4:01 pm | Acquisitions, Financings | 0 comments

    The Bascom Group, a private equity firm specializing in value-add multifamily, commercial and non-performing loans, real estate-related investments and operating companies, acquired a seniors housing community in Boulder City, Nevada, to expand its portfolio. This marks its fifth acquisition of 2024, but first in seniors housing, following the... Read More »
Joint Venture Acquires Former Emeritus Community Outside of St. Louis

Joint Venture Acquires Former Emeritus Community Outside of St. Louis

by | Feb 8, 2019 7:00 am | Acquisitions | 0 comments

Veritas Senior Living and Curis Capital joined forces to acquire a 107-unit senior living community in Herculaneum, Missouri (St. Louis MSA). Previously an Emeritus-owned community (before Emeritus sold it to Platinum Healthcare in 2009 and before the Emeritus-Brookdale blow-up), the 30-year old property currently features 81 assisted living and 26 independent living units. The purchase price was not disclosed, but the property last sold for $3 million in 2009. We expect its value has risen since then. The buyers plan on adding an in-house therapy space in partnership with HealthPro. Read More »
Turn around…again

Turn around…again

by | Feb 11, 2016 9:09 pm | Acquisitions | 0 comments

When Platinum Healthcare purchased a 197-unit CCRC in Cincinnati, Ohio in September 2014 for $3 million, the community had already posted a $1.5 million loss on $5.9 million of revenues in 2013. This was even after the previous owner, Deaconess Long-Term Care, invested $918,000 in capital improvements in the last two years of owning it. The CCRC was over 63% occupied (its skilled nursing was 87% occupied, while assisted and independent living were just under 50% occupied, both with high Medicaid censuses). Now, Platinum is selling the community, which still is just 62% occupied overall and losing over $1 million on approximately $6.1 million of 2014 revenues. The purchase price this time... Read More »