• Stand-Alone MC Community Trades in Arizona

    Blueprint represented an institutional seller in the sale of its stand-alone memory care community in the Lake Havasu City-Kingman, Arizona MSA. Built in 2009, the asset features 48 units with 60 beds and received approximately $2 million in recent capital improvements. There is opportunity for occupancy growth and rental rate optimization. ... Read More »
  • Clarion Partners Continues Its Acquisition Streak

    Clarion Partners continued on its acquisition streak, adding two communities in California to its growing portfolio. The latest deal featured The Commons on Thornton and The Commons at Union Ranch, two seniors housing communities totaling 198 units in California’s Central Valley. They were previously owned and operated by MBK Senior Living, which... Read More »
  • Multiple Senior Care Acquisition Financings Close

    M&A transactions are getting done at a near-historic pace, and CIBC Bank USA recently financed three deals. The largest was $43.3 million in acquisition financing for two senior care assets in the Nashville area of Tennessee. The properties include a combined 310 independent living units, 273 skilled nursing beds and 93 assisted living/memory... Read More »
  • Olympus Retirement Living Expands

    The Zett Group closed the sale of a 63-unit assisted living/memory care community in the Boise, Idaho market. Set in the town of Emmett, Meadow View Senior Living was trending positively in its operations, but there was still some work to be done. An owner/operator engaged Blake Bozett and Spud Batt to sell the community to an undisclosed buyer.... Read More »
  • Large Senior Care Portfolio Trades Hands

    A portfolio comprising senior care assets across Washington State recently sold with the help of JCH Senior Housing Investment Brokerage. At first, only one of the assets was brought to market, but an offer emerged for the entire nine-facility portfolio. The price for the skilled nursing, assisted living and independent living campuses ranged... Read More »
Senturian Senior Housing Brokerage Sells Alabama Assisted Living Community

Senturian Senior Housing Brokerage Sells Alabama Assisted Living Community

Watson McCollister of Senturian Senior Housing Brokerage handled the sale of a 56-unit assisted living community in Anniston, Alabama. Built in 2000 on 24 acres, this community includes 32 assisted living and 24 memory care units. It was owned by a local operator and operated at a 26% margin on approximately $2.46 million of gross revenues. Occupancy was 91% when the initial offer was accepted, but shot up to 100% by closing, with NOI substantially improving as well. With the help of an $830,000 mezzanine loan provided by United Community Bank and arranged by Contemporary Healthcare Capital, the out-of-state buyer (based in Charleston, South Carolina) purchased the community for $7.86... Read More »
November’s M&A train keeps on rolling

November’s M&A train keeps on rolling

There have been many big news stories so far since the start of November. Yes, outside of politics even. As many of you probably read in the latest issue of The SeniorCare Investor, we saw a resurgence of senior care and seniors housing transactions this month, after about a half a year of tepid M&A activity. We have to say that “tepid” is a relative term, but the reality is the average number of deals per month was 22.6 from June to October, compared with a 34.3 average in the second half of 2015 and a 30.4 average in the first five months of 2016. So far in November, we have already seen 18 transactions announced, and several of those have been big by 2016 standards, including two... Read More »

Pay the rent

After recently acquiring three skilled nursing facilities in Kansas (two of which were turnarounds), Birchwood Health Care Properties acquired another skilled nursing facility in need of some care, this time in Huntington, West Virginia. The facility, which includes 41 skilled beds and 17 assisted living units, was originally built in 1928 but was renovated in 2009. And despite having a stabilized occupancy at 90%, it was losing money. This was the only senior care asset of the owner, who decided to sell the facility when their operator tenant stopped paying rent and filed for bankruptcy. Enter Birchwood, which purchased the facility for $3.2 million, or $55,200 per bed/unit and brought in... Read More »