Insured success
Fortegra Financial Corporation, an affiliate of Tiptree Financial Inc., is a specialized insurance and insurance services company that is dipping its toes in the seniors housing market. That is not to say Tiptree is a debutante to the industry, with its wholly owned subsidiary Care Investment Trust making five acquisitions for 17 properties since 2013. For Fortegra, the company is acquiring a 77-unit senior living community with independent/assisted living and memory care services in Baton Rouge, Louisiana. The stabilized property was owned by a regional operator which is exiting the industry with this sale. Fortegra is paying $11.5 million, or $149,351 per unit, for the community and is... Read More »
And the vote is in…
On October 13, our editor Steve Monroe moderated a webinar called “Skilled Nursing: Buying, Selling & Valuing,” with panelists Ben Atkins, Chairman of Traditions Senior Management, Charles Bissell, Executive Director of Integra Realty Resources, Ben Firestone, Senior Managing Director & Founding Partner of Blueprint Healthcare Real Estate Advisors, and Stephen Graham, SVP/Director of Post-Acute Acquisition & Development of MedEquities Realty Trust. During the 90 minutes, we posed two poll questions to our listeners and got some interesting results. First, in response to “Should high acuity, subacute SNFs sell with a higher or lower cap rate than more traditional SNFs?,” 55% of... Read More »Seven sales in North Carolina
Mike Pardoll of Marcus & Millichap burst out of the gate in July, arranging the sale of seven senior care properties (six assisted living and one skilled nursing facility) in North Carolina in three separate transactions, totaling almost $43 million. The first was the sale by a not-for-profit foundation of five assisted living properties with 300 units (there are 60 units at each) for $22.3 million, or about $74,300 per unit. Meridian Senior Living was the buyer. Second, a group of private investors sold their 60-unit assisted living community in Wadesboro, North Carolina to Meridian Senior Living for $4 million, or $66,700 per unit. Finally, Mr. Pardoll, together with Mark Myers also... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
