• LSS Absorbs Diakon

    Two large not-for-profits announced that they were combining to create the 12th largest not-for-profit senior living organization in the country. Lutheran Senior Services, based in St. Louis, Missouri, signed an agreement to bring Diakon Senior Living operations and four CCRCs under its umbrella. Both organizations were described by Adam Marles,... Read More »
  • SNF Under Receivership Is Acquired in Kansas

    Marcus & Millichap was brought on by a limited liability company in the sale of a skilled nursing facility in Topeka, Kansas, that was under receivership. The facility, Providence Living Center, comprises 78 beds across 24,000 square feet and focuses on senior residents with mental health needs. Rod Llanos and Colby Haugness handled the... Read More »
  • SLR Provides Financing for SNF

    SLR Healthcare ABL announced that it secured financing for a 160-bed skilled nursing facility. The asset-based revolving line of credit amounted to $4.0 million, and this was the only debt for the borrower, which leases the facility from a related property company that has a mortgage with a bank.  The borrower is a Nevada-based operator of... Read More »
  • Chicagoland Portfolio Finds New Owner

    A value-add senior care portfolio in Chicagoland traded with the help of Blueprint’s Ryan Kelly, Connor Doherty, Alex Florea, Lauren Nagle and Brooks Blackmon. The team worked on behalf of a national developer/investor, which had engaged Blueprint to create an exit strategy for more than a dozen geographically disparate, older-vintage communities... Read More »
  • Publicly Traded REIT Divests in Illinois

    Berkadia was engaged in the divestment of an assisted living and memory care community in Barrington, Illinois. The Berkadia Seniors Housing Team, led by Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders, closed the transaction on behalf of a publicly traded REIT. The buyer was a regional owner/operator. But no other details were... Read More »
Providence Group Acquires Plum Healthcare Group

Providence Group Acquires Plum Healthcare Group

Providence Group has acquired Plum Healthcare Group, California’s second-largest skilled nursing facility operator, in an effort to expand Providence’s reach in the western United States. The deal includes Plum’s 58 properties that sold for an undisclosed amount, including 57 nursing homes and one assisted/independent living community, plus the real property on ten of the assets. There are 54 facilities in California and four in Nevada. Capital Funding Group provided financing for the deal.  Plum’s average census as of November 5 was 83%, which is an enviable figure for many in the industry. Helping with the transition is the fact that Providence’s C-Suite leadership have worked with... Read More »
CareTrust REIT Acquires in California

CareTrust REIT Acquires in California

CareTrust REIT is on a tear this year, having acquired 33 senior care properties since the start of 2017 and bringing its portfolio to 184 total properties. In all of this activity, CareTrust has also not been limited to a specific geography, making acquisitions in 10 states across the country. Despite being headquartered in San Clemente, California, CareTrust waited until Halloween to make its first Golden State acquisition of the year, and entered into a new tenant relationship at the same time. The REIT announced it had bought three skilled nursing facilities, totaling 528 beds, in Southern California for approximately $69 million, or about $130,700 per unit. Operating the facilities... Read More »