Eduro Healthcare has grown its Texas portfolio again, adding seven more skilled nursing facilities in the Waco and Austin metropolitan areas.
This latest acquisition brings Eduro up to 42 buildings across 10 states.
“Our Texas acquisition pipeline is full and robust, and I expect more buildings to join the Eduro team soon,” Owner Michael Bewsey said in a statement.
Utah-based Eduro has grown considerably in the Lone Star State over the last several months. Prior to this deal, Eduro had acquired nine buildings in the state as of January in just under 12 months.
Eduro, founded back in 2008, first entered Texas through the April 2021 acquisition of a four-property portfolio consisting of 418 beds.
255-bed Nevada SNF sells for $50M
Evans Senior Investments (ESI) last week announced it represented an owner-operator in the sale of Henderson, Nev.-based TLC Care Center.
The 255-bed skilled nursing facility sold for $50 million or $196,000 per bed, according to ESI.
Built in 1999, the facility offers 35 private and 112 semi-private rooms, including 42 ventilator-equipped beds in a separate wing. Before the pandemic TLC Care Center was operating on 90%+ occupancy levels and made $24 million in annual revenue.
East coast owner and operator Hill Valley Healthcare was ultimately selected as the buyer after ESI received 14 competitive offers after 15 days on the market. This is their first acquisition in the state of Nevada.
“TLC Care Center presented an excellent opportunity for the new ownership group to establish their presence in the state of Nevada and expand upon the community’s outstanding reputation for resident care,” ESI CEO Jeremy Stroiman said in a statement.
Invesque sells two nursing homes to existing tenant for $25M
Invesque (TSE: IVQ.U) late last month announced the sale of two nursing homes in Nebraska to existing tenant and operator Hillcrest Health Services for $25M.
The company originally acquired the facilities in 2017 shortly after they were built and leased to Hillcrest — who now no longer operates any facilities owned by Invesque.
The deal is part of continued efforts by Invesque to reshape its portfolio in favor of private pay seniors housing assets.
“The sale of these two skilled nursing facilities to affiliates of Hillcrest represents another step toward achieving that goal,” Chairman and CEO Scott White said in a statement. “Our team was able to execute on this sale quickly and efficiently given Hillcrest’s familiarity with the properties, and we believe the pricing achieved is very favorable for skilled nursing facilities in Nebraska.”
Following the completion of this sale, the company’s total portfolio consists of 81 properties with approximately 5,600 units, 7,650 beds, and 190,000 rentable square feet of medical office buildings across 17 states and one Canadian province.
When Invesque went public in June 2016, skilled nursing made up 75% of its portfolio.
SRS brokers $46.7M Florida nursing home deal
SRS Real Estate Partners announced late last month that it had brokered the sale of a 75-bed skilled nursing facility located in Fort Meyers, Fla.
The facility, sold by Plantation Medical Center SNU LLC, was purchased by a private 1031 investment firm based in New York City for $46.7 million, according to SRS.
Located adjacent to the Gulf Coast Medical Center, the 57,650-square-foot building is currently occupied by Lee Memorial Health System’s Gulf Coast Medical Center Skilled Nursing Unit.
Lee Memorial Health System has 16 years remaining on its lease term with options to extend, according to SRS.
Patrick Nutt and William Wamble of SRS’ national net lease group represented the seller in the off-market transaction, and Jason Maier of Stan Johnson Co. represented the buyer.
Companies featured in this article:
Eduro Healthcare, ESI, Evans Senior Investments, Hillcrest Health Services, SRS Real Estate Partners, TLC Care Center
