Acquisitions

AcquisitionsAlabamaCCRCNews

Blueprint Brokers Sale of 279-Unit CCRC in Mobile, Alabama

by Jeff Shaw

MOBILE, Ala. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Knollwood Healthcare & Gordon Oaks Senior Living, a continuing care retirement community (CCRC) in Mobile. Originally constructed in 1985 and expanded in 1987, 1993 and 1996, the property features 279 units of skilled nursing, independent living, assisted living and memory care. Blueprint represented the court-appointed receiver, Healthcare Management Partners, in the fall of 2021 to run a competitive marketing process to select a stalking horse bidder. That bidder, MED Healthcare, eventually became the buyer. The price was …

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AcquisitionsNewsPennsylvaniaSkilled Nursing

Lument Arranges Sale of Saunders House Skilled Nursing Facility in Wynnewood, Pennsylvania

by Jeff Shaw

WYNNEWOOD, Pa. — Lument Securities has served as exclusive financial advisor to the board of directors of Saunders House, a nonprofit skilled nursing facility, on its sale to a regional private operator. The property is located in the first-ring Philadelphia suburb of Wynnewood and features 180 beds. Laca Wong-Hammond and Dominic Porretta led the transaction for Lument Securities. Saunders House dates back to 1864 when it opened as the Old Man’s Home of Philadelphia. The current facility, which is located adjacent to Lankenau Medical Center, opened in 1973 and underwent …

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AcquisitionsGeorgiaNewsSkilled Nursing

Blueprint Negotiates Sale of 333-Bed Skilled Nursing Portfolio in Metro Atlanta

by Jeff Shaw

ATLANTA and MARIETTA, Ga. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities, one in the Buckhead neighborhood of Atlanta and another in the first-ring suburb of Marietta. The properties total 333 licensed beds, and are part of a larger portfolio sale with staggered closings. Both properties are near leading regional hospitals, among other referral sources. While labor challenges impacted the local market, the facilities maintained steadily improving census and revenue coming out of the pandemic, according to Blueprint. An East Coast-based investor and …

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AcquisitionsCompany NewsNewsSkilled Nursing

Welltower Moves 124 Skilled Nursing Facilities from ProMedica to Integra Joint Venture

by Jeff Shaw

TOLEDO, Ohio — Welltower (NYSE: WELL), the largest owner of seniors housing in the United States, has announced plans to transition 147 skilled nursing facilities from its joint venture with ProMedica Senior Care to a new partnership with Integra Health. In addition to transferring the operations, ProMedica will surrender its 15 percent interest in the assets and Integra will acquire that same stake. The financial terms of the move were not disclosed. ProMedica will also “provide significant working capital support for the new operators to ensure a smooth transition of …

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AcquisitionsAssisted LivingNewsWisconsin

SLIB Negotiates Sale of Wickshire Madison in Wisconsin

by Jeff Shaw

MADISON, Wis. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Wickshire Madison, an assisted living community in Madison. The property was built in 1992 on a 2.5-acre plot. A Northeast-based private REIT sold the property to a private regional company looking to expand in the Midwest. The price was not disclosed. Daniel Geraghty and Ryan Saul of SLIB handled the transaction. “The asset is a well-run community, being 100 percent occupied, which will make for an excellent addition to the buyer’s growing Wisconsin portfolio,” says Geraghty.

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AcquisitionsArizonaNewsOperations

12 Oaks Senior Living Acquires Operations of Copper Canyon in Tucson, Arizona

by Jeff Shaw

TUCSON, Ariz. — 12 Oaks Senior Living has acquired the operations of Copper Canyon Memory Care & Transitional Assisted Living in Tucson. 12 Oaks Senior Living intends to expand and enhance the service offerings at this community while restoring stability and planning for long-term growth. Copper Canyon augments four other senior living properties that 12 Oaks currently manages for the same ownership group. The previous operator was not disclosed.

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AcquisitionsCompany NewsMinnesotaNews

Lifespark to Acquire Home Care Company Livio Health, Receives Investment Stake from Blue Cross and Blue Shield of Minnesota

by Jeff Shaw

ST. LOUIS PARK and EAGAN, Minn. ­— Lifespark, a senior health company based in St. Louis Park, has agreed to acquire Eagan-based Livio Health, a wholly owned subsidiary of Blue Cross and Blue Shield of Minnesota that provides in-home health services to people with chronic and complex illness. The purchase agreement will integrate all operational components of Livio Health, as well Livio Health employees, into the current systems and capabilities of Lifespark throughout the state. Concurrent with the announcement, Blue Cross has secured a minority owner stake in Lifespark through …

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AcquisitionsArizonaAssisted LivingNews

Blueprint Brokers $45M Sale of Assisted Living Community in Arizona

by Jeff Shaw

ARIZONA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 150-unit “behavioral assisted living” community in Arizona. A regional developer, owner and operator sold the asset to a private equity firm for $45 million, or $271,000 per unit. The property was 70 percent occupied, approximately 90 percent of which was Medicaid resident census. The property was originally built in 1987 as a hotel, though was converted to an assisted living community in 2016 after undergoing a nearly $10 million renovation. The operator had established a unique relationship …

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AcquisitionsNewsSkilled NursingSouth Carolina

Ensign Group Acquires 120-Bed Lila Doyle Post Acute in Seneca, South Carolina

by Jeff Shaw

SENECA, S.C. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Lila Doyle Post Acute, a 120-bed skilled nursing facility located in Seneca, approximately midway between Atlanta and Charlotte. The real estate at Lila Doyle Post Acute is located on the campus of Prisma Health Oconee Memorial Hospital and was acquired by a subsidiary of Standard Bearer Healthcare REIT Inc., Ensign’s captive real estate company, pursuant to a 30-year ground lease with extension options. “This acquisition created a perfect opportunity for our continued growth in South Carolina,” …

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AcquisitionsNewsSkilled NursingWisconsin

Pennant Acquires Home Health Agency in Kenosha, Wisconsin

by Jeff Shaw

KENOSHA, Wis. — 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 the assets of Kenosha Visiting Nurse Association Inc., which provides skilled home health, private duty and community health services in Kenosha. “We are pleased to expand our home health operations deeper into southern Wisconsin,” says Brent Guerisoli, CEO of Pennant. “KVNA will be a great partner to our senior living affiliates in the area as we further expand the continuum of …

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