• Newmark Closes Class-A Deal in Denver

    by | Apr 24, 2024 8:44 am | Acquisitions

    A new seniors housing community traded in the Denver, Colorado MSA, with the help of the team at Newmark. Developed in 2017, MorningStar at RidgeGate is located in the suburb of Lone Tree within the Ridgegate master plan that features retail, cultural amenities and a 284-bed hospital nearby. The property comprises five stories over subterranean... Read More »

  • Public REIT Purchases Texas Class-A Seniors Housing

    by | Apr 23, 2024 3:56 pm | Acquisitions

    Blueprint was engaged in the divestment of a Class-A seniors housing community in San Antonio, Texas. Built in two phases in 2011 and 2017, Franklin Park TPC Parkway comprises 269 independent living, assisted living and memory care units. Following the completion of a six-year freeway expansion project that affected leasing, access to the... Read More »

  • Eads Sells Its 24th & 25th Missouri Community

    by | Apr 23, 2024 3:54 pm | Acquisitions

    Patrick Byrne of Eads Investment Brokerage facilitated the divestment of two seniors housing communities in Missouri. This marks the 24th and 25th communities sold in Missouri for Eads. The Moberly community (which we believe to be Mark Twain Assisted Living) comprises 35 assisted living/independent living units and sold for $2.57 million, or... Read More »

  • 60 Seconds with Swett: CMS Raises the Minimum Staffing Mandate

    by | Apr 23, 2024 3:48 pm | 60 Seconds

    On Monday, CMS came out with its final minimum staffing standards for nursing homes, but the eventual outcome is anything but final. Despite the outcry from nursing home providers from the previous proposed mandate of three hours per resident per day, asking simple questions like how can we pay for this and where will this newly needed staff come... Read More »

  • More Shareholder Activism

    by | Apr 22, 2024 9:04 am | Opinion

    Fresh from its success in getting two people voted onto the Ventas Board of Directors, Land & Buildings is at it again, this time with National Health Investors. Like all the REITs, NHI’s managers and tenants had their share of problems during the pandemic. Who didn’t? Most of these issues are behind it, but the REIT could be in even stronger... Read More »
The Prestige Group Closes Two Senior Care Sales

The Prestige Group Closes Two Senior Care Sales

by | Apr 15, 2021 5:45 pm | Acquisitions

Joe Shallow of The Prestige Group went up and down the East Coast to sell a couple of senior care communities. First, Mr. Shallow worked with President Richard Natow to arrange the sale of a vacant personal care facility in Philadelphia. Originally built in 1920 as a rest home for retired actors, the community featured 51 beds in 24 units.   Several years ago, the family owner/operator decided to close and renovate the community, while transferring all of the residents to its sister facility in Philadelphia. However, the owner decided to sell and enlisted Prestige to run the process after the brokerage firm originally sold them the property. A local contractor with a number of apartment... Read More »
The Prestige Group Handles Distressed Sale

The Prestige Group Handles Distressed Sale

by | Dec 30, 2020 10:12 am | Acquisitions

Jim Baranello of The Prestige Group handled the sale of a distressed personal care/memory care community in Larksville, Pennsylvania, in the Scranton/Wilkes Barre MSA. Built around 2000 and acquired by the current mom & pop seller soon after, the community has 52 beds. It had experienced low census in the 60% range for several years, and the operating environment was obviously made only more difficult in 2020.   The sales process started earlier this year, but the final purchase price (which remains undisclosed) stayed approximately the same. A private buyer with other properties in the region stepped in to acquire the community and has plans to improve census and invest in renovations... Read More »
Another Pennsylvania Personal Care Sale From Prestige Group

Another Pennsylvania Personal Care Sale From Prestige Group

by | Dec 17, 2019 4:42 pm | Acquisitions

Jim Baranello of The Prestige Group closed yet another personal care deal in Pennsylvania, following up on his two-facility sale in the state earlier this month. In that previous deal, he represented a seller divesting their last two communities: a 56-unit personal care community in Montoursville and a 59-unit community in Danville, both located in north central Pennsylvania. While the Danville community was operating well with healthy cash flow and occupancy, the Montoursville community was more of a turnaround opportunity. Licensed for a combined 126 beds, the communities featured a 100% private pay census. The private buyer, who was looking to expand their operations in the area, paid... Read More »
Another Pennsylvania Personal Care Sale From Prestige Group

Erie County Assisted Living Sells

by | Nov 29, 2018 3:09 pm | Acquisitions

Jim Baranello of The Prestige Group took his talents to Erie County, Pennsylvania where he sold a 37-bed assisted living/personal care community. The transaction included an adjacent parcel for an expansion/renovation project. All in, the property sold for a 16% cap rate. Read More »