• The Saga of Genesis HealthCare Continues

    Genesis HealthCare was once one of the largest and most successful skilled nursing companies. But it grew too quickly, made some bad investments over the years (did we mention the billion-dollar merger with The MultiCare Companies?), and it always played the leverage game, whether with leases or debt, and usually both. Last summer, it filed for... Read More »
  • Blue Moon/StepStone Finalize Large Recapitalization

    Blue Moon Capital Partners completed a large recapitalization of five seniors housing communities that it developed over the years and were the last remaining assets within its fund, Blue Moon Senior Housing I. CBRE National Senior Housing acted as transaction advisor in the recap and arranged acquisition financing for the deal. StepStone Real... Read More »
  • Evans Closes Another High-Priced SNF Sale in NV

    Just a month after selling a skilled nursing facility in Nevada for the highest per-bed value ever seen in the state, Evans Senior Investments returned to sell another facility in the Las Vegas MSA for the second-highest per-bed price. That is some momentum. Little was disclosed on the deal, but the 1970s-built facility has approximately 150... Read More »
  • Seniors Housing Communities Secure Refinances

    Berkadia recently refinanced Allegro Parkland, an independent living, assisted living and memory care community in Parkland, Florida. A joint venture between Harrison Street Asset Management and Allegro Senior Living was the borrower. The community opened in March 2020 (perhaps not the best timing) and features 61 independent living, 88 assisted... Read More »
  • PACS Group Expands in Four States

    After Senior Living Investment Brokerage announced the sale of three assets in Soldotna and Kenai, Alaska, and Caldwell, Idaho, PACS Group announced its addition of three seniors housing communities in the same locations. The Utah-based provider purchased the real estate and operations of the Alaska properties, and closed on a lease option for... Read More »
IPA Ratifies Constitution State Sale

IPA Ratifies Constitution State Sale

Charlie Hilding, along with Mark Myers, Joshua Jandris and Alex Vice, of IPA Seniors Housing handled the sale of a skilled nursing facility in rural Ohio. Representing the seller, IPA sold the facility, which features over 150 beds and several specialized care services (including a designated ventilator unit), for nearly $165,000 per occupied bed and approximately $116,000 per licensed bed, which is especially high for a rural location. The buyer is a growing regional owner/operator that is entering the Ohio market with this purchase. They recently purchased their first facility, an 80+ bed skilled nursing facility in northern Kentucky, with IPA also representing the seller in that... Read More »