LeadingAge Illinois and LeadingAge Iowa announced plans to merge this week. Meanwhile, Forest Healthcare Properties closed four separate transactions in September across Massachusetts, New York, and Florida, with the sale of a portfolio of seven facilities in the latter state.

Two LeadingAge affiliates merge

Effective November 1, 2024, LeadingAge Illinois and LeadingAge Iowa announced plans to merge this week. The partnership will allow LeadingAge Illinois to assume the role of the parent company, with current president and CEO of LeadingAge Illinois, Angela Schnepf, continuing in her role with the merged organization. 

Both associations will continue to operate in each state under their respective names and maintain their distinct voice and level of services with no disruption.

Combined, LeadingAge Illinois and LeadingAge Iowa will serve over 400 senior living and services organizations.

“We are energized by the prospect of combining forces to enhance our membership value, strengthen our advocacy efforts, and drive innovation through this partnership,” Julie Kaminski, chair of LeadingAge’s Iowa Board of Directors, said in a press release. “This strategic decision will allow us to leverage our expertise and capital to advance both organizations forward during this time of change.” 

Besides advocacy, both organizations provide regulatory support, government relations, education, resource development, and research findings, among other services.

LeadingAge Illinois is headquartered in Lisle, Illinois, while LeadingAge Iowa is based in Urbandale, Iowa.

“By uniting the strengths and resources of our two mission-driven organizations, we will create a stronger, more resilient association devoted to advancing excellence and quality throughout both states,” said Nadim Abi-Antoun, chair of the LeadingAge Illinois Board of Directors.

866-Bed, 7-SNF portfolio sells in Florida

Forest Healthcare Properties closed four separate transactions in September across Massachusetts, New York, and Florida, with the latter state involving a seven-facility portfolio. 

In Florida, the facilities located in the Tampa and Orlando areas encompass a total of 866 beds, Forest Healthcare said in a press release. The seller was looking to sell these properties and exit the cities. The buyer is a regional operator in Georgia and North Carolina and new to Florida.

In Massachusetts, the transactions include the sale of a skilled nursing portfolio in Boston, which has attractive new reimbursement rates, Forest Healthcare noted. The portfolio comprises three assets with 283 beds. The facilities have an average occupancy rate of 85%. The buyer is a new owner-operator entering the state for the first time through this acquisition. The buyer’s portfolio has additional facilities in Michigan.

Forest Healthcare was also engaged by a large company for the divestment of a skilled nursing facility in New York. The well-performing facility, built in the 1970s, features 183 beds in Queens, and had an occupancy rate of 96% at the time of the sale. The buyer is an existing owner-operator looking to expand its New York footprint.