$45M Portfolio Sale in Ohio
A five-property skilled nursing portfolio in northeast Ohio sold for $45 million, or approximately $62,000 per bed, Blueprint Healthcare Real Estate Advisors announced.
Blueprint executed the sale for a publicly traded real estate investment trust (REIT) and a national operator; the buyer was a growing regional provider that had an East Coast-based equity partner.
Healthcare Transactions Group Arranges Sale of Baltimore SNF
Healthcare Transactions Group arranged the sale of the 99-bed Bridgepark Healthcare Center, a skilled nursing facility in Baltimore. The SNF includes a 28-bed certified cardiac/pulmonary unit for ventilator-dependent patients. The seller was a large, multi-state skilled nursing operator, and the buyer was a growing provider based in New Jersey. Terms of the deal were not disclosed.
Premier Health Care Buys Pennsylvania Nursing Home for $30.8M
Premier Health Care Management will buy the Pleasant Acres Nursing and Rehabilitation Center for $30.8 million in cash from the government of York County, Pa., the York Daily Record reported. The home’s projected deficit for next year is $13 million, and county subsidies totaled $75 million over the past 10 years, the publication noted.
York County commissioners said Premier will invest $4 million in capital improvements in the facility over the next five years. They also said the company will join the county on an advisory board overseeing a $1 million fund to benefit center residents; Premier and the county each put up $500,000 in that agreement.
ESI Arranges Sale of SNFs and Assisted Living Facilities in N.Y.
Evans Senior Investments (ESI) represented the sale of The Robinson Terrace Portfolio, a 120-bed skilled nursing facility and a 55-unit assisted living facility, in Stamford, N.Y.
ESI represented the seller, a local non-profit. The communities averaged more than 90% occupancy over their prior trailing 12 months, but the portfolio was not profitable, with a combined EBITDAR margin loss of 25% over the prior trailing 12-month period.
The communities were purchased by a regional, for-profit owner-operator.
Written by Maggie Flynn