ANAHEIM, Calif. — Evans Senior Investments (ESI) has arranged the sale of a 138-bed skilled nursing community in Anaheim for $25 million. A local owner-operator sold the asset to an East Coast-based real estate holding company, which will lease the property to a local operator. The purchase price equates to $181,159 per bed. At the time of marketing, the community was 96 percent occupied and making over $2 million per year in net operating income. The facility also holds a contract for over 50 therapeutic residential care beds. Matt Jassak …
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Webinar: Let’s Talk About the Outlook for Seniors Housing Investment and Finance
Is there room for optimism in seniors housing? What does investor interest look like now? Learn about how interest rate increases are impacting seniors housing valuations, what a flight to quality means for different sectors, financing concerns and more. Watch the webinar here. Timestamps of major topics covered: (5:25) Impact of rising interest rates on seniors housing valuations (7:54) Effects broken down by sector: active adult, skilled nursing, assisted living (11:07) Financing in the current environment (13:21) Acquisition opportunities, plus deal flow and closing (18:10) Outlook for the market …
Colliers Mortgage Arranges $11.8M Acquisition Loan for Skilled Nursing Portfolio in Texas
by Jeff Shaw
TEXAS — Nick Skarich, Steven Marx, Corley Audorff and Josh Williams of Colliers Mortgage have arranged an $11.8 million bridge loan for the acquisition of three skilled nursing facilities in Texas. The facilities, which participate under the Texas Quality Incentive Payment Program, total 358 licensed beds. The loan includes $3.5 million for renovations. The loan carries a three-year term with two 12-month extensions and an interest-only payment period. No further information was disclosed.
COLORADO — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 91-bed skilled nursing facility in Colorado. Solterra Castle Rock sold the asset to the existing operator for an undisclosed price. The property was built in the 1970s and sits between Denver and Colorado Springs.
OHIO — Evans Senior Investments (ESI) has arranged the sale of a 99-bed skilled nursing community in Ohio. Having been constructed in different phases from 1946 through 1985, the community received two significant renovations in 2013 and 2019. Consisting of 47 private rooms, the community was able to operate with an above-average quality mix. It was 70 percent occupied at the time of marketing, contributing to a breakeven net operating income. This was the buyer’s first acquisition in the skilled nursing space, although it was involved in the operations for …
FLORIDA — VIUM Capital has provided a $5.4 million acquisition loan for a 60-bed skilled nursing facility in Florida. Elevation Group was the borrower, and the total purchase price was $6.8 million. The seller, name of the property and location of the property were not disclosed.
VIUM Capital Funds $61.6M Acquisition Financing for Three-Property Skilled Nursing Portfolio in Florida
by Jeff Shaw
FLORIDA — VIUM Capital has provided a $61.6 million loan for the acquisition of a three-property skilled nursing portfolio in Northeast Florida. The portfolio totals 357 beds. The financing features a potential earn-out of $6.7 million. Further details were not disclosed.
BOSTON — Blueprint Healthcare Real Estate Advisors has arranged the sale of Advocate Healthcare of East Boston, located across the harbor from downtown Boston. The 165-bed, five-story skilled nursing facility, originally constructed in 1952 and expanded in 1965, has been a fixture in the Orient Heights neighborhood of East Boston for decades, according to Blueprint. The exiting owner-operator invested in a substantial renovation of the adult day care services wing as well as general improvements throughout the facility. Additionally, the facility has received a Determination of Need (DON) approval for …
Ensign Group Buys Nine Skilled Nursing Facilities in Texas, South Carolina, Arizona Across Three Transactions
by Jeff Shaw
SAN JUAN CAPISTRANO, Calif. — The Ensign Group Inc. (NASDAQ: ENSG), an owner-operator based in San Juan Capistrano, has acquired nine skilled nursing facilities in Texas, South Carolina and Arizona across three separate transactions. In the first transaction, Ensign purchased six properties in Texas: Brodie Ranch Nursing and Rehabilitation, a 120-bed facility located in Austin; Onion Creek Nursing and Rehabilitation Center, a 125-bed facility in Austin; Riverside Nursing and Rehabilitation Center, a 122-bed facility in Austin; West Oaks Nursing and Rehabilitation Center, a 125-bed facility in Austin; Lakeside Nursing and …
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE: CTRE), a San Clemente-based investor, has sold seven skilled nursing facilities in Ohio for $52 million. In connection with the completion of the sale, the company’s master lease with affiliates of Trio Healthcare was terminated. The portfolio includes approximately 600 skilled nursing beds along with approximately 100 seniors housing beds/units. “In February, we announced a plan to de-risk the portfolio by selling or re-tenanting 32 properties,” says Dave Sedgwick, CareTrust president and CEO. “Given how much the world has changed since we …