Acquisitions

AcquisitionsFrom The Magazine

Waiting on an M&A Rebound

by Jeff Shaw

COVID-19 pandemic froze property sales in 2020, and experts say the big thaw likely won’t occur until occupancy improves. By Jeff Shaw U.S. seniors housing property and portfolio sales ground to a halt in 2020, with a total transaction volume of $9.9 billion, down 48 percent from $17.9 billion the prior year, according to Real Capital Analytics (RCA).  The last time annual property sales for the sector were below $10 billion was in 2010, when the economy was still recovering from the Great Recession and total volume registered $6.2 billion. …

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AcquisitionsGeorgiaIndependent LivingNews

Walker & Dunlop Arranges $164.5M Sale of Seniors Housing Portfolio in Atlanta

by Jeff Shaw

ATLANTA — Walker & Dunlop has facilitated the $164.5 million sale of The Mansions Portfolio, a portfolio of four Class A independent living properties in Atlanta. Focus Senior Housing Fund I LP, a discretionary investment vehicle that is managed by an affiliate of Focus Healthcare Partners LLC, bought the portfolio. Joshua Jandris, Mark Myers, Jordyn Berger and Brett Gardner of Walker & Dunlop represented the buyer in the transaction. Additionally, Russell Dey of Walker & Dunlop arranged three acquisitions loans through Freddie Mac. The seller(s) was not disclosed. The Mansions …

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AcquisitionsNew JerseyNews

AMS Acquisitions Sells Seniors Housing Property in Sayreville, New Jersey for $28M

by Jeff Shaw

SAYREVILLE, N.J. — New York City-based investment firm AMS Acquisitions has sold Gillette Towers, a two-building, 136-unit seniors housing facility in the Northern New Jersey community of Sayreville. In 2019, AMS purchased the property, which then consisted of a single 80-unit building, for $13 million. The company then developed a 56-unit building that is nearing completion, while the original building is now fully leased. The buyer was a partnership between A&RW Properties LLC and its affiliates JYW Holdings LLC and Nadlan Capital Inc.

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AcquisitionsAssisted LivingFinanceNewsWisconsin

Walker & Dunlop Arranges $9.1M Financing for Acquisition of Tender Hearts Assisted Living in Green Bay

by Jeff Shaw

GREEN BAY, Wis. — Walker & Dunlop has arranged $9.1 million in financing for the acquisition of Tender Hearts Assisted Living, a 50-unit community in Green Bay. The property was built in 2009 and renovated in 2019. The total price of the acquisition was $10.1 million. The seller was not disclosed. Walker & Dunlop structured the HUD-insured financing on behalf of Senior Opportunity Funds Holding Co. (SOF), a seniors housing developer that has historically developed Class A independent living, assisted living and memory care communities in the Southeast. As part …

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AcquisitionsMissouriNewsSkilled Nursing

SLIB Brokers Sale of 137-Bed West County Care Center in Ballwin, Missouri

by Jeff Shaw

BALLWIN, Mo. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of West County Care Center, a 137-bed skilled nursing facility in Ballwin, approximately 20 miles west of St. Louis. West County Care Center consists of private and semi-private rooms and provides therapy, adult daycare, memory care and respite services. A new operator took over the community in fall of 2019, stabilizing operations and improving financial metrics. The seller is a family-owned operator based in Missouri divesting of a non-core, under-performing asset. The buyer was a national, private real …

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AcquisitionsAssisted LivingFloridaNews

Berkadia Arranges $15M Sale of The Willows of Wildwood in Oxford, Florida

by Jeff Shaw

OXFORD, Fla. — Berkadia’s Seniors Housing and Healthcare Group has arranged the $15 million sale of The Willows of Wildwood, an assisted living and memory care community in the Central Florida municipality of Oxford. The Class A property opened in 2015, featuring 126 units totaling 134 beds. Tim Cobb and Brooks Minford of Berkadia completed the sale.

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AcquisitionsNewsTechnology

NIC Expands Data Capabilities by Acquiring Analytics Platform VisionLTC

by Jeff Shaw

ANNAPOLIS, Md., and RALEIGH, N.C. — The National Investment Center for Seniors Housing & Care (NIC) has acquired Raleigh-based VisionLTC, a data analytics platform serving the seniors housing industry. Together, Annapolis-based NIC and VisionLTC are creating a new company called NIC MAP Vision. The new service will integrate the NIC MAP Data Service with VisionLTC’s data for investors, owners and operators. VisionLTC’s chief executive officer Arick R. Morton will lead the new company. “NIC MAP Vision is the culmination of nearly two years of strategic planning by NIC’s board, which …

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AcquisitionsNewsTechnology

Omega Acquires Connected Living to Support Social Connection in Seniors Housing

by Jeff Shaw

HUNT VALLEY, Md. — Omega Healthcare Investors Inc. (NYSE: OHI) has acquired Connected Living, a technology platform that enables communication and connection for today’s aging adult communities. For over a decade, Connected Living’s mission has been to provide technology solutions and services that inspire an aging population to connect, contribute and live each day to its fullest, according to OHI. “Human connection and engagement have always been key elements of effective resident care, and the pandemic has reinforced their importance,” says Taylor Pickett, Omega’s CEO. “Through Connected Living, we look …

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AcquisitionsMemory CareNewsOregon

Cushman & Wakefield Arranges $25M Sale of Memory Care Community in Portland

by Jeff Shaw

PORTLAND, Ore. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged the off-market sale of a 99-unit,114-bed memory care community in a Portland for $25 million. This represents the second sale of the community within a 15-month period for the firm, with the first sale as part of a larger portfolio disposition of non-core assets for a public REIT. The seller was a privately owned, California-based national operator. The buyer is a growing regional owner-operator based in the Portland metro area. The Cushman & Wakefield team involved in …

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AcquisitionsCaliforniaNewsSkilled Nursing

CareTrust REIT Acquires Buena Vista Care Center in Santa Barbara for $15.9M

by Jeff Shaw

SANTA BARBARA, Calif. — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired Buena Vista Care Center, a 150-bed skilled nursing facility in the Southern California community of Santa Barbara. California-based Covenant Care Inc. will continue to operate the property under a long-term lease that CareTrust assumed in the off-market transaction. It represents the eighth property that CareTrust owns and Covenant operates. CareTrust’s total investment was approximately $15.9 million, inclusive of transaction costs. The acquisition was funded using CareTrust’s $600 million unsecured revolving credit facility. Covenant Care has approximately four years left …

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