VINCENNES, Ind. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Gentlecare of Vincennes, a 60-bed skilled nursing facility in Vincennes, along the Illinois border approximately equidistant from Indianapolis, Louisville and St. Louis. A private mom-and-pop seller looking to retire sold the community to The Strategies, an Indiana-based owner-operator, for an undisclosed price. Ryan Saul of SLIB led the transaction.
HARRISONVILLE and LEXINGTON, Mo. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Meadow View of Harrisonville Health & Rehabilitation and Riverbend Heights Health & Rehabilitation. The two skilled nursing facilities are located in the Kansas City suburbs of Harrisonville and Lexington, respectively. The portfolio totals 280 licensed beds. Both assets were built in the 1970s. Following a tenant transition in 2018 facilitated by Blueprint for the REIT owner, specific targeted capital improvement projects were completed, and operational performance improved as a result. With the improved census and …
MISSISSIPPI — Blueprint Healthcare Real Estate Advisors has brokered the sale of a three-property, 340-bed skilled nursing portfolio located throughout Mississippi. The seller was New York-based investment firm seeking to divest the properties following the operator filing for bankruptcy. The buyer was DAC Acquisitions, which recently acquired Diversicare, a Tennessee-based regional operator. The price and locations were not disclosed. Overall census had declined throughout the ongoing pandemic and leveled out in late 2021 around 70 percent, but the facilities continued to generate positive EBITDAR, according to Blueprint.
The “What’s Ahead For Seniors Housing Staff, Leaders and HR: A Study on 2022 Business Priorities” webinar took place April 14 and was hosted by Seniors Housing Business and sponsored by Paychex. The discussion focused on staff retention and engagement; diversity, equity, and inclusion initiatives; and resiliency strategies for the industry. In a time of labor shortages, keeping staff happy and well trained has become particularly difficult for senior living communities. Using Paychex’s recent survey results on workforce challenges, this webinar explores the most challenging aspects of managing staff, the Great …
MILAN, Ohio — Cambridge Realty Capital Cos. has provided a $6.1 million HUD-insured loan for Continuing Healthcare of Milan, a 92-bed skilled nursing facility in Milan, a small village of fewer than 1,500 residents between Cleveland and Toledo. The loan refinances existing debt on the property. “The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, our specialists in FHA-insured HUD loans,” says Jeffrey Davis, Cambridge’s chairman.
TULSA and CUSHING, Okla. — Plains Commercial has arranged the sale of three skilled nursing facilities in Tulsa and Cushing. The portfolio totals 243 licensed beds. Two of the buildings were built in the 1960s and 1970s, and had undergone extensive renovations in recent years. The third was built in 1997. The portfolio was legacy owned, having been very rarely available on the market in its operating history. The seller is a local operator that sought to exit the industry. The buyer is one of the largest skilled nursing operators …
DALLAS, AUSTIN, SAN ANTONIO and HOUSTON, Texas — Blueprint Healthcare Real Estate Advisors has brokered the sale of four seniors housing communities in the Texas markets of Dallas, Austin, San Antonio and Houston. The price was $52 million, or $153,000 per bed. The buyer and seller were not disclosed. The portfolio totals 315 skilled nursing beds and 24 assisted living beds. All facilities were constructed between 2017 and 2018, average a five-Star CMS rating and feature resort-style amenities with therapy and rehabilitation gyms. The portfolio was not stabilized, and while …
BRINKLEY, Ark. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Cla-Cliff Nursing and Rehabilitation Center, a 116-bed skilled nursing facility in Brinkley, approximately midway between Little Rock and Memphis, Tennessee. The property has been owned and operated within the same family for almost 60 years. The seller was a local owner-operator looking to retire and exit the skilled nursing industry. The buyer is a regional owner looking to add to its existing portfolio. The price was not disclosed. Daniel Geraghty and Bradley Clousing handled the transaction for …
PASADENA, Texas — Evans Senior Investments (ESI) has arranged the sale of Pasadena Care Center, a 116-bed skilled nursing community located in Pasadena. An independent owner sold the asset to a national owner-operator looking to expand in Texas for $6.5 million, or $56,000 per bed. The operator is Sava Senior Care. Built in 1975, Pasadena Care Center is located 15 miles southeast of Houston. At the time of merketing, the community was 80 percent occupied and was producing approximately $750,000 in net operating income annually. While under contract, occupancy and …
POINT PLEASANT, N.J. — Marquis Health Consulting Services has completed a $3 million renovation project at Crest Pointe Rehabilitation & Healthcare Center. The centerpiece of the renovation was the addition of a 3,000-square-foot rehab therapy gym and the incorporation of a activities of daily living (ADL) suite. Other renovation highlights also include a lobby/reception area redesign and expansion; reconfigured and updated dining area and lounges; and updates to resident rooms. During the renovation process, Crest Pointe and Marquis also enhanced the facility’s specialized programming in partnership with regional healthcare providers. Physician-led …
