TYLER, Texas — The Ensign Group, Inc. (NASDAQ: ENSG) has acquired the real estate and operations of The Waterton Healthcare and Rehabilitation, a 74-bed skilled nursing facility in Tyler. In a separate transaction on the same day, Ensign announced that its affiliates acquired the operations of Amarsi Assisted Living, a 103-bed assisted living facility in Glendale, Arizona, and Citadel Assisted Living Facility, a 180-unit independent living and 150-bed assisted living facility in Mesa, Arizona. Both of these operations are part of a healthcare campus that includes skilled nursing services operated …
FLORIDA — Evans Senior Investments (ESI) has arranged the bankruptcy disposition of two skilled nursing communities in Florida. The bankruptcy stemmed from a medical whistleblower whose case resulted in a civil fraud judgment of $256 million. Both communities operated under the brand of Consulate Health Care, and filed for bankruptcy when the skilled nursing operating entities could not afford to pay the judgment against them. ESI was hired to represent the debtors in the sale of their assets, obtaining debtor-in-possession financing and providing a confidential valuation. Ultimately, after an auction, …
TULSA, Okla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Arbors, a 20-unit assisted living community in Tulsa. The 15,688-square-foot property was built in 1997 on approximately two acres of land. The seller is a regional owner based in Tulsa. The buyer is a Oklahoma-based private owner, looking to expand its portfolio, and plans to convert the facility to skilled nursing with a hospice specialty. Jason Punzel and Nick Cacciabando of SLIB handled the transaction. The price was not disclosed.
UTAH and CALIFORNIA — Walker & Dunlop has structured $77.1 million in financing for two large skilled nursing portfolios totaling ten properties and 848 units. The Cascades Portfolio, located throughout Utah, totals seven properties and 693 units. The Rollins-Nelson Portfolio includes three properties and 155 units located in Englewood, Long Beach and Perris, California. Walker & Dunlop’s Kevin Giusti, Brian Neal and Andrew Westling arranged the transactions. The team utilized three different capital solutions for the Cascades Portfolio, including financing through the Department of Housing and Urban Development (HUD), a …
OHIO — Blueprint Healthcare Real Estate Advisors has arranged the sale of 17 skilled nursing facilities in Ohio for $145 million. The seller was joint venture between an Ohio-based operator and an investment partner, which acquired the portfolio in 2018. The seller was an East Coast-based owner-operator. The portfolio historically has been stabilized with over $100 million in yearly revenue, but saw performance decline due to COVID-19. While further details on the properties were not disclosed, the per-bed price of $73,000 equates to nearly 2,000 beds across the portfolio.
Occupancy trends, the impact of the Omicron variant, development, investment, vaccine mandates and labor shortages were just some of the pressing topics panelists discussed during the “Seniors Housing Policy Outlook: What Will Impact Operations, Investment & Development in 2022?” webinar, hosted by Seniors Housing Business. Industry experts weighed in on the policies and priorities shaping the future of senior living communities, as well as their own legislative agendas for 2022. Regarding investment and development, Dave Schless, president of American Seniors Housing Association (ASHA), explains Capital markets have remained committed and robust …
ENNIS, Texas — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired Ennis Care Center in the Dallas-Fort Worth Metroplex city of Ennis. The price was not disclosed. The 155-bed skilled nursing facility will be added to CareTrust’s existing master lease with affiliates of Eduro Healthcare, which took over operations on Feb. 1. The acquisition of the Ennis Facility increases CareTrust’s relationship with Eduro to nine facilities and increases annual rent under the Eduro master lease by $815,000. The initial term of Eduro’s master lease with CareTrust was also extended by four …
OHIO — Evans Senior Investments (ESI) has arranged the sale of a 180-bed skilled nursing community in Ohio for $10.8 million, or $60,000 price per bed. Built in 1965 with a $220,000 renovation in 2019, the community has nine private units with the rest being semi-private occupancy. In fiscal 2019, the community posted $10.3 million in total revenue and 72 percent occupancy. Despite the large revenue generation, the community did not reach industry standard net operating income margins of 12 to 15 percent due to the below-average Medicaid rate and …
INDIO and SAN BERNARDINO, Calif. — The Ensign Group, Inc. (NASDAQ: ENSG) has acquired the operations of two skilled nursing facilities in Southern California. The assets include Arrowhead Springs Healthcare, a 119-bed skilled nursing facility located in San Bernardino, and Desert Mountain Care Center, a 99-bed skilled nursing facility located in Indio. The acquisition of Arrowhead Springs Healthcare includes the real estate and operations at the facility. Desert Mountain Care Center will be subject to a long-term, triple-net lease. “We are very excited to add these facilities to our California …
FLORIDA — Blueprint Healthcare Real Estate Advisors has arranged the $51 million sale of two skilled nursing facilities, on in Central Florida and one in Northeast Florida. The communities offer a total of 300 licensed beds near local medical centers. A Florida-based owner operator sold the properties to an undisclosed buyer in an off-market transaction.