• JLL Announces Seniors Housing Portfolio Deal

    The JLL team got off to a prolific start this January, already handling a couple of transactions across 17 seniors housing properties. The big one involved the sale of 16 seniors housing communities previously owned by a publicly traded REIT. Totaling more than 1,800 units, these communities were located in three states and consisted of... Read More »
  • Blueprint Sells a SNF in Louisiana

    Brooks Blackmon of Blueprint Healthcare Real Estate Advisors headed down to the bayou to sell a 120-bed skilled nursing facility in Oak Grove, Louisiana (near the border of Arkansas). Built in stages from the 1960s through 1987, the facility had been owned by multiple generations of a local family since its opening, and now they are... Read More »
  • Recent Senior Care M&A Deal Chart, Week Ending January 22, 2021

    The M&A market was on fire in the last month of 2020, and got off to a fast start in 2021. Check out our recent senior care M&A deal chart. Long-Term Care   AcquirerTargetPrice Non-traded REIT16 seniors housing communitiesN/A Local individualAssisted living community in San Antonio, TXN/A Regional owner/operatorCarroll Nursing... Read More »
  • Lakeland Bank Finances Skilled Nursing Expansion in NJ

    A skilled nursing owner/operator in Morris County, New Jersey (New York City MSA) obtained financing from Lakeland Bank to expand and improve its services in the state. The $4.1 million loan will help fund renovations to underutilized space and increase the number of available licensed beds at the unnamed facility.   The... Read More »
  • Jon Harder Gets Sentence Commuted

    When was the last time anyone thought about Jon Harder, the founder and CEO of Sunwest Management who was sentenced to 15 years in prison for the “misuse of investment funds during the real estate crisis” of 2007 to 2009? Well, that is an understatement if we ever saw one. At its height, Sunwest was one of the largest senior living... Read More »
Reis Helps California Assisted Living Owner Exit the Business

Reis Helps California Assisted Living Owner Exit the Business

Rob Reis of Marcus & Millichap recently sold a 45-unit assisted living community in Modesto, California, representing the single-asset owner/operator who was looking to exit the business. The seller developed the property in the 1980s, and has operated it ever since. Occupancy was 84%, and it was bringing in nearly $385,000 in NOI on approximately $1.5 million of revenues, for a 25% margin. Not bad for an older building, but it could still be improved. The buyer was Senior Living West, a growing investor/asset manager in seniors housing, which purchased the community utilizing a regional management organization, Cimino Care. They clearly didn’t want to waste any time starting, as the... Read More »