Ensign Makes Another Arizona Acquisition
Despite its stated strategy to own more of the real estate in its portfolio of over 230 healthcare properties, The Ensign Group shunned its recent practice and acquired just the operations of a 140-bed skilled nursing facility in Sun City West, Arizona. Reporting 87% occupancy at the time of the sale, the facility will be operated by Ensign’s Arizona-based subsidiary, Bandera Healthcare, while Ensign acquired the operations subject to a long-term lease. The deal brings The Ensign Group’s portfolio to 184 skilled nursing operations, 22 of which include assisted living services, and 51 AL/independent living operations. Of that total, Ensign currently owns the real estate at 67 of the 235... Read More »
The Ensign Group Acquires Dallas Post-Acute Care Campus
The Ensign Group added a large post-acute care and senior living campus in Dallas, Texas to its growing portfolio of 234 total healthcare facilities. Located on 26 acres, the campus runs the gamut of senior care services and includes 125 skilled nursing beds, 81 independent living units, 36 assisted living units and 26 memory care units. It operated as a not-for-profit organization for over 50 years, but significant operational challenges forced the owner, Presbyterian Communities and Services, to sell the community. Ensign’s Texas-based subsidiary, Keystone Care LLC, will take over operations and change the community’s name to The Villages of Dallas. Occupancy was 79% at the time of the... Read More »
The Ensign Group Grows With Dallas Deal
Through its affiliate, Bridgestone Living, The Ensign Group acquired both the real estate and operations of two 37-unit assisted living communities in Texas, bringing the company’s total portfolio to 232 properties. Located in the Dallas suburbs, the two communities combine for 78% occupancy, which may not be all that low in the over-developed Dallas market. Ensign, which owns other assisted living and skilled nursing properties in the area, will look to use economies of scale to improve operations. With the deal, Ensign now owns the real estate at 65 of its 232 skilled nursing and assisted living properties, a strategy it is looking to continue. Read More »
Another Texas SNF For National Health Investors
National Health Investors added another Texas skilled nursing facility to its portfolio with the purchase of a 121-bed facility in Waxahachie for $14.4 million, or about $119,000 per bed. The acquisition is the second of four that NHI had previously committed to and will be added to the existing master lease with The Ensign Group at an initial rate of 8.2%, plus annual escalators based on inflation. This brings Ensign’s Texas total to 16 skilled nursing facilities. Explaining the high per-bed price is the facility’s age, having just opened in November 2016. NHI funded the deal with proceeds from its revolving credit facility. Read More »Schedule a demo
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