INDIANA — Evans Senior Investments (ESI) has arranged the sale of a 100-bed skilled nursing facility in Indiana. A regional owner-operator sold the property to a regional operator with a presence in Indiana. The price and further details on the property’s name and location were not disclosed. At the time of marketing, the community posted $10.2 million in total revenue and was 71 percent occupied. The community participated in the Upper Payment Limit program (UPL) with a local hospital. The high revenue generation of the community contributed to an above-average …
OREGON — VIUM Capital has provided an $11 million bridge-to-HUD loan to Ohana Ventures. The borrower will use the funds to purchase an assisted living community in Oregon. Further details were not disclosed.
GRANBURY, Texas — JLL Capital Markets has arranged the sale of Quail Park of Granbury, a 75-unit independent living, assisted living and memory care community in Granbury, a growing suburb of Dallas-Fort Worth. JLL represented the seller, Living Care Lifestyles, in the sale to Lloyd Jones LLC. Lloyd Jones Senior Living will operate the community going forward, under the name AVIVA Granbury. The sales price was not disclosed. The community comprises two buildings, one offering independent living (41 units) and assisted living (15 units) and one dedicated to memory care …
GARDEN GROVE, Calif. — The REMM Group Multifamily Management Co. has taken over operations at Valley View Villas Senior Apartment Homes in the Orange County city of Garden Grove. The luxury seniors housing community features 178 units and joins three other properties that The REMM Group manages. “We have an exciting renovation of the beautiful property underway,” says Sara D’Elia, CEO of The REMM Group. “The common areas are being enhanced with a new flooring, a fresh paint palette, furniture and lighting. A full exterior painting is underway and in …
A panel of top brokers discusses the state of M&A activity. Roundtable participants Jay M. Wagner, Vice Chairman, Senior Housing Capital Markets, Cushman & Wakefield Brooks Minford, Director, Berkadia Senior Housing & Healthcare Adam Heavenrich, Managing Director, Heavenrich & Company Brooks Blackmon, Senior Director, Blueprint Healthcare Real Estate Advisors Bradley Clousing, Managing Director, Senior Living Investment Brokerage Charles Bissell, Managing Director, JLL Capital Markets John L. Sweeny Jr., Principal, Partner, Co-Head National Senior Housing, CBRE Ari Adlerstein, Senior Managing Director, Meridian Capital Group Cindy Hazzard, President, JCH Senior Housing Investment Brokerage Mark Myers, Managing Director, Investment Sales, Walker & Dunlop By Jeff Shaw While COVID is still an issue …
HACKENSACK, N. J., and SCOTTSDALE, Ariz. — Executive Home Care, a Hackensack-based in-home care provider with a wide range of service options and care programs, has acquired the Assisted Living Locators brand and franchise system. Assisted Living Locators is a Scottsdale-based franchise dedicated to helping seniors find the right living and care solutions. Backed by The Riverside Company, a private equity firm, Executive Home Care’s acquisition of Assisted Living Locators expands the company’s footprint in the senior care space. “The addition of Assisted Living Locators fits seamlessly with our business …
HENDERSON, Nev. — Evans Senior Investments (ESI) has arranged the sale of TLC Care Center, a 255-bed skilled nursing facility in Henderson. An independent owner-operator sold the asset to Hill Valley Healthcare for $50 million, or $196,000 per bed. Built in 1999, TLC Care Center is located just 10 miles south of the Las Vegas strip. The facility features 35 private and 112 semi-private rooms, which includes 42 ventilator-equipped beds in a designated wing. Prior to the COVID-19 pandemic, the facility exhibited over 90 percent occupancy levels and produced over …
It could be argued that the last 30 months have presented the seniors housing and skilled nursing industries with their most adverse operating environment ever. Heading into 2023, at least some difficulties appear to be abating. Seniors housing occupancy rates continue to improve, reaching 81.4 percent in June this year, which was an improvement of 90 basis points over the March figure, according to the National Investment Center for Seniors Housing and Care (NIC). That was also 340 basis points higher than the time series low of 78 percent recorded …
COLORADO — Evans Senior Investments (ESI) has arranged the sale of seven skilled nursing facilities in Southwest Colorado for $51.5 million, or approximately $92,000 per bed. An owner-operator sold the 558-bed portfolio to an East Coast-based owner-operator looking to expand its reach in the West. The properties were built between 1957 and 2017. Prior to the COVID-19 pandemic, the portfolio was 77 percent occupied and produced nearly $6.2 million in annual net operating income. Throughout the pandemic, the portfolio’s occupancy decreased and at the time of marketing was only 65 …
WACO, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 106-unit assisted living and transitional car facility in Waco. Mainstreet developed the asset in 2015 and it was briefly operational before the property was foreclosed on and left vacant. Situated on 6.7 acres of land within the new, 150-acre mixed used development Legends Crossing, the facility is located adjacent to Baylor Scott & White Medical Center. The buyer was a Texas-based joint venture between Zelevie Health and Skywalker Property Partners. This is the joint venture’s first …