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Skilled Nursing

AcquisitionsNewsSkilled NursingTexas

SLIB Negotiates Sale of 114-Bed Skilled Nursing Facility in Belton, Texas

by Jeff Shaw

BELTON, Texas — Senior Living Investment Brokerage (SLIB) has negotiated the sale of a 114-bed skilled nursing facility in Belton, approximately midway between Auston and Waco. The facility totals approximately 31,700 square feet on approximately three acres of land. Although the price was not disclosed, SLIB notes the price equates to “somewhere in the low to mid-$80,000 range per bed.” The seller is an independent, local owner-operator looking to retire from the skilled nursing business, while the buyer is also a local owner-operator. Matthew Alley of SLIB handled the transaction. …

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AcquisitionsNewsPennsylvaniaSkilled Nursing

Colliers Brokers Sale of Two Lehigh Valley Communities for $24M

by Jeff Shaw

MACUNGIE and ALLENTOWN, Pa. — Colliers has arranged the sale of two seniors housing communities in the Lehigh Valley region of Eastern Pennsylvania for $24 million. The first community was Victoria’s Place, located in Macungie. The 59,500-square-foot community features 80 licensed one-bedroom and studio units, with capacity to add 30 more. The second community was Mountain View in Allentown. The 54,693-square-foot property features 115 beds and was built in 1987. A new operator will be announced for the communities. The buyer and seller were not disclosed. Bob Gaines of the …

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FinanceMichiganNewsSkilled Nursing

Northland Networks Arranges Financing for 250-Bed Skilled Nursing Portfolio in Michigan

by Jeff Shaw

MICHIGAN — Northland Networks, a debt placement agent that finances senior living projects through a network of community banks, has arranged financing for a portfolio of three skilled nursing facilities in Southeast Michigan. The communities total 250 beds, which the loan represents a 65 percent loan-to-value ratio. “Community banks across the country are sitting on record sums of cash with nowhere to put it,” says Seth Kahn, managing director of Northland Networks. “Participating in senior living loans is an attractive option for many of these banks who, in the past, …

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AcquisitionsMassachusettsNewsSkilled Nursing

ESI Arranges $42.5M Sale of Three Skilled Nursing Facilities in Massachusetts

by Jeff Shaw

CHICAGO — Evans Senior Investments (ESI) has arranged the sale of a portfolio of three skilled nursing facilities in Massachusetts. An independent owner-operator seeking to exit long-term care sold the properties to Eagle Arc Partners, an institutional buyer, for $42.5 million, or $111,000 per functional bed/unit. The portfolio totals 384 licensed skilled nursing beds (359 functional beds). All three communities were located eight to 10 miles north of downtown Boston and have a five-star rating from Medicare. During the time of marketing, occupancy was 80 percent across the portfolio, with …

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AcquisitionsLouisianaNewsSkilled Nursing

ESI Brokers $99M Sale of Five Skilled Nursing Facilities in Louisiana

by Jeff Shaw

CHICAGO — Evans Senior Investments (ESI), a Chicago-based broker, has assisted a Louisiana-based owner-operator in its exit from the long-term care industry. The portfolio consisted of three separate transactions for all five of the seller’s communities. The combined purchase price for all three transactions was $99 million, or $137,000 per functional bed/unit. Four of the five communities were built between 1996 and 2011, and the vast majority of beds were private resident rooms. The first tranche of the portfolio consisted of one skilled nursing facility located in Rayne, Louisiana. The …

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AcquisitionsIndianaNewsSkilled Nursing

SLIB Brokers $4.3M Sale of The Villas of Guerin Woods in Georgetown, Indiana

by Jeff Shaw

GEORGETOWN, Ind. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Villas of Guerin Woods in Georgetown, a suburb of Louisville, Kentucky. The property offers primarily skilled nursing with some assisted living and memory care options across eight individual “small houses” with 10 units in each. A nonprofit organization seeking to exit its only seniors housing asset sold the community to a private regional company with 14 other communities in Indiana. The price was $4.3 million. Ryan Saul and Nick Cacciabando of SLIB handled the transaction. “This …

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AcquisitionsNewsOhioSkilled Nursing

ESI Arranges $70M Sale of Eight-Property Skilled Nursing Portfolio in Ohio

by Jeff Shaw

CHICAGO — Evans Senior Investments (ESI), a Chicago-based broker, has arranged the sale of eight skilled nursing facilities in Ohio. An Ohio-based owner-operator sold the assets to a regional owner-operator looking to grow in the state. The price was $70 million, or $90,000 per functional bed/unit. The portfolio totals 623 licensed skilled nursing beds (614 functional beds), 22 independent living units and 176 licensed assisted living beds (140 functional beds). “While under contract the portfolio received a large Medicaid rate increase of almost $30 per patient day,” says Henry Fuller, …

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AcquisitionsNewsPennsylvaniaSkilled Nursing

SLIB Arranges Sale of Two Skilled Nursing Facilities in Northwest Pennsylvania

by Jeff Shaw

NORTHWEST PENNSYLVANIA — Senior Living Investment Brokerage (SLIB) has negotiated the sale of two skilled nursing facilities located in Northwest Pennsylvania. The seller deemed one of the communities, an 80-bed facility, to be a non-core asset. A larger, 180-bed facility was included in the offering to make it more attractive. The buyer is a New York-based investor in the skilled space with a growing presence Pennsylvania. Ryan Saul and Toby Siefert of SLIB handled the transaction.

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NewsOperationsSkilled NursingTexas

Blueprint Arranges New Tenant at The Lodge at Bear Creek in Grapevine, Texas

by Jeff Shaw

GRAPEVINE, Texas — Blueprint Healthcare Real Estate Advisors has arranged the placement of a new tenant at The Lodge at Bear Creek in Grapevine. The Lodge at Bear Creek was built in 2016 and is licensed for 100 beds of skilled nursing and short-term rehabilitation. Grapevine is an affluent suburb approximately 21 miles northwest of Dallas, and the facility benefits from being near two prominent regional hospitals. The owner, ServiceStar Capital Management, sought to reposition the asset with a new operator. A Utah-based management company, Eduro Healthcare, was selected as …

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