Acquisitions

AcquisitionsNewsSkilled NursingVirginia

Blueprint Brokers Sale of 326-Bed Portfolio in Virginia

by Jeff Shaw

VIRGINIA — Blueprint Healthcare Real Estate Advisors has arranged the sale of five skilled nursing communities in central and western Virginia. Each property comprises between 57 and 89 licensed beds for a total of 326 beds across the portfolio. The properties were built in the early 1990s and most feature a 4- or 5-star CMS rating. Blueprint worked directly with the existing operator to not only acquire the real estate, but also source the equity and debt financing needed to ultimately capitalize the portfolio acquisition. The seller and price were …

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AcquisitionsAssisted LivingFloridaNews

SLIB Negotiates Sale of 64-Unit The Canopy at Harper Lake in Lake City, Florida

by Jeff Shaw

LAKE CITY, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Canopy at Harper Lake in Lake City, a small city of approximately 12,000 residents between Jacksonville and Tallahassee. The community features 44 assisted living units and 20 memory care units. Built in 2019 the community sits on approximately 5.7 acres. The asset was stabilized with all private-pay residents at the time of sale. The seller was a Florida-based developer and investment group. The buyer is a 1031 fund targeting newer assets with strong in-place cash …

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AcquisitionsCCRCNewsPennsylvania

Presbyterian Senior Living Acquires 532-Unit CCRC in Doylestown, Pennsylvania

by Jeff Shaw

DOYLESTOWN, Pa. — Presbyterian Senior Living (PSL) has acquired Pine Run Life Plan Community, a 532-unit continuing care retirement community in Doylestown, approximately 25 miles north of Philadelphia. Doylestown Hospital sold the property for an undisclosed price. PSL is partnering with Doylestown Health at the community. Further details were not disclosed.

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AcquisitionsCaliforniaNewsSkilled Nursing

CareTrust REIT Purchases 187-Bed La Fuente Post Acute in Vista, California

by Jeff Shaw

VISTA, Calif. — CareTrust REIT Inc. (NYSE: CTRE) has completed a joint venture investment to acquire La Fuente Post Acute, a 187-bed skilled nursing facility in Vista, approximately 40 miles north of San Diego.  Once regulatory approval is obtained, the facility will be operated by Bayshire Senior Communities (a current tenant of CareTrust) pursuant to a new 15-year lease. To acquire the facility, CareTrust and a third-party regional healthcare real estate investor entered into a joint venture. CareTrust’s combined common equity and preferred equity investments in the joint venture total …

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AcquisitionsNewsOperationsSkilled NursingSouth Carolina

Ensign Group Takes Over Management of Two Skilled Nursing Facilities in South Carolina

by Jeff Shaw

CHARLESTON and HANAHAN, S.C. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Ashley River Healthcare, a 125-bed skilled nursing facility in Charleston, and The Reserve Healthcare and Rehabilitation, a 135-bed skilled nursing facility in Hanahan.  These acquisitions were effective Sept. 1, and will be subject to a long-term, triple-net lease. “These buildings present a great geographical and strategic fit within this particular market,” says Barry Port, Ensign’s CEO. These acquisitions bring Ensign’s portfolio to 295 healthcare operations, 26 of which also include senior living operations, across …

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AcquisitionsArizonaCompany NewsNews

Pennant Group Acquires Valor HospiceCare in Arizona

by Jeff Shaw

EAGLE, Idaho — The Pennant Group Inc. (NASDAQ: PNTG), the parent company of the Pennant group of affiliated home health, hospice, home care and senior living companies, has acquired Valor HospiceCare, which provides skilled hospice services in Tucson, Green Valley, and Sierra Vista, Arizona. “We are pleased to expand our operations in the state of Arizona, complementing our Emblem Hospice and Agape Hospice agencies in Tucson and Green Valley, and expanding into Sierra Vista with Valor HospiceCare,” says Brent Guerisoli, CEO of Pennant.

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AcquisitionsCompany NewsNews

Diversified Healthcare Trust, Office Properties Income Trust Cancel Merger Agreement, Leaving DHC’s Future in Question

by Jeff Shaw

NEWTON, Mass. — Diversified Healthcare Trust (NASDAQ: DHC) and Office Properties Income Trust (NASDAQ: OPI) have mutually agreed to terminate their previously announced merger agreement dated April 11, 2023, pursuant to which OPI had agreed to acquire all outstanding common shares of DHC.  The mutual termination was approved by the respective special committees and boards of trustees of OPI and DHC. The parties have agreed that each company will bear its costs and expenses in connection with the terminated transaction pursuant to the terms of the merger agreement, and that neither party …

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AcquisitionsAssisted LivingNewsNorth Carolina

SLIB Negotiates Sale of Community in Thomasville, North Carolina

by Jeff Shaw

THOMASVILLE, N.C. — Senior Living Investment Brokerage (SLIB) has arranged the sale of an assisted living and memory care community in Thomasville, located south of Winston-Salem and Greensboro. The seller is an institutional capital provider looking to exit, as this was an operational outlier due to the size of the community. The buyer was a local owner-operator in North Carolina. The price and further details regarding the property were not disclosed. Daniel Geraghty, Bradley Clousing and Jeff Binder led the transaction for SLIB. 

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AcquisitionsIllinoisNewsSkilled Nursing

Ziegler Negotiates Sale of 135-Bed Bethesda Rehab & Senior Care in Chicago

by Jeff Shaw

CHICAGO — Ziegler has arranged the sale of Bethesda Rehab & Senior Care, a 135-bed skilled nursing facility in Chicago. The four-story facility is located on a nearly two-acre parcel. For over 100 years, Bethesda has had a presence in the Chicagoland area and the community has developed a reputation for providing short-term rehabilitation, long-term skilled nursing care, respite care and Alzheimer’s care to seniors throughout the greater northern Chicagoland area.  Bethesda was previously a part of Norwood Crossing, founded in 1896, whose main residential campus in Chicago’s Norwood Park …

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AcquisitionsAssisted LivingNew MexicoNews

SLIB Arranges Sale of Two Communities in Albuquerque, New Mexico

by Jeff Shaw

ALBUQUERQUE, N.M. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living communities in Albuquerque. The communities were built in 1972 and 1982, with renovations in 2011 and 2015. The properties are 3,176 and 7,880 square feet, and are situated on approximately 0.38 and 0.6 acres of land. The seller was a mom-and-pop owner divesting to retire from the industry. The buyer is an owner-operator expanding its presence in the Weste. This is the buyer’s first acquisition in New Mexico. The price was not disclosed. Vince …

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