Iowa Nursing Home Draws Three Prospective Buyers The 168-bed Country View nursing and mental health care center in Waterloo, Iowa, has drawn the interest of three companies, which have initially offered to buy it for $5.4 million to $5.6 million, The Courier reported. The nursing home is owned and operated by Black Hawk County. Preliminary […]
Private buyers accounted for $1.3 billion in closed transaction volume in the seniors housing and care sector, according to new first-quarter data from the National Investment Center for Seniors Housing & Care (NIC) — though overall mergers-and-acquisition volume took a major tumble. Nursing care transactions included about $900 million in closed deals, while seniors housing […]
New Jersey-based LLC Buys Louisville SNF for $3.5M The Englewood Cliffs, N.J.-based The Portopiccolo Group LLC purchased a 98-bed post-acute care (PAC) and skilled nursing facility in Louisville, Ky., for $3.5 million, Louisville Business First reported. The purchase was made through an affiliate, Jeffersontown Propco LLC, according to Jefferson County documents. The facility was sold by […]
Phoenix Skilled Nursing Facility Goes to Ensign Affiliate Blueprint Healthcare Real Estate Advisors announced the sale of the 128-bed Plaza Del Rio in the Phoenix suburb of Peoria to an affiliate of The Ensign Group (Nasdaq: ENSG). The seller was a Florida-based senior living developer and philanthropist who held the facility in a charitable remainder trust. […]
The splashiest skilled nursing deal of the year portends better things to come for the industry as a whole, according to the leader of one prominent senior living real estate investment trust (REIT). National Healthcare Investors (NYSE: NHI) CEO Eric Mendelsohn touted the recent $1.95 billion acquisition agreement between Welltower Inc. (NYSE: WELL) and Quality Care Properties (NYSE: QCP) […]
Greystone Closes $75M Loan for Acquisition of 561-Bed Portfolio Greystone, a New York-based commercial real estate lending, investment and advisory company, provided a $75 million loan for the Optima portfolio of three skilled nursing and rehabilitation facilities in the New York City metropolitan area. The loan, insured by the Department of Housing and Urban Development […]
When assessing the deal struck by Welltower (NYSE: WELL) to acquire Quality Care Properties (NYSE: QCP) and by ProMedica to acquire HCR ManorCare, outsiders should look at whether the players can pull off a genuine team-based approach to care. That’s according to Bob Kramer, founder of the National Investment Center for Seniors Housing & Care (NIC). The […]
$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 […]
Revera and Axium Form JV to Own 32 LTC Homes in Canada Revera and Axium Infrastructure completed a joint venture (JV) transaction to share ownership of 32 of Revera’s long-term care (LTC) homes in Ontario, Alberta, Manitoba, and British Columbia. Revera, a senior living owner, operator, and investor, will continue to run the homes. Independent portfolio manager […]
Welltower (NYSE: WELL) and ProMedica’s blockbuster deal for skilled nursing chain HCR ManorCare and its landlord cements the setting’s place in the future of long-term care, at least according to one prominent ratings firm. “[The deal] supports Fitch Ratings’ view that skilled nursing will have a place on the continuum of care, despite the subsection’s […]
The refrain from the top leaders in the skilled nursing space has been that the industry is a regional game: Control a limited number of high-quality facilities in a confined area, the thinking goes, and an operator can win by successfully embedding itself in the local reimbursement and regulatory landscape. Late Wednesday night, two of […]
Five-SNF Portfolio Sale in Alabama Blueprint Healthcare Real Estate Advisors announced the portfolio sale of five skilled nursing facilities in Alabama from a national owner based in New York. The buyer is a real estate investor, which partnered with the regional operator Blue Ridge Healthcare. At the time of the sale, the portfolio had a […]
After seeing major players like Humana and TPG Capital take billion-dollar bets on vertical health care integration, Welltower Inc. (NYSE: WELL) is getting in on the action as well. Shankh Mitra, the real estate investment trust’s (REIT) senior vice president of investments, specifically cited those companies — which recently teamed up to buy Kindred Healthcare’s […]
When Welltower Inc. (NYSE: WELL) and ProMedica announced their deal to acquire Quality Care Properties (NYSE: QCP) — and, by extension, skilled nursing giant HCR ManorCare — the move was a strategic splash designed to shake up the long-term landscape. For QCP, however, it was simply the best way to play a less-than-ideal hand. On […]
The fates of skilled nursing giant HCR ManorCare and its former landlord, Quality Care Properties (NYSE: QCP), have been determined. Welltower Inc. (NYSE: WELL), one of the largest U.S. health care real estate investment trusts (REITs), has reached an agreement to acquire QCP in a $1.95 billion all-cash deal. Going forward, Welltower will own the […]
Saber Healthcare Group took over the operations of 10 Pennsylvania nursing homes from the non-profit Oak Health & Rehabilitation Centers, Inc. Affiliates of Formation Capital will remain the landlords of the facilities. The Philadelphia Inquirer first reported on the transaction. The lease structure with the Cleveland-based Saber is “entirely new,” with an initial term of 10 years, […]
Monticello Provides $45.3M Financing for NY Portfolio An affiliate of Monticello Asset Management landed $45.3 million in first-lien debt financing for a company that’s acquiring a skilled nursing facility and two adult day care facilities, ABL Advisor reported. The SNF has 242 beds and offers skilled nursing services and physical, occupational and speech therapies. The mortgagor, […]
A non-profit health system and a major real estate investment trust (REIT) are reportedly teaming up to buy Quality Care Properties (NYSE: QCP) for $2 billion. The ProMedica hospital system and Welltower, Inc. (NYSE: WELL) have already made that offer, according to sources that spoke to the Reuters news service — which would value QCP at about […]
Genesis HealthCare has signed a definitive agreement to sell 51% of its Chinese subsidiary, GRS-HS, to Riswein Health Industry Investment for $30 million. The deal is expected to close in the first quarter of 2019, subject to regulatory and licensing approvals and other customary conditions. GRS-HS will seek approval for a new, wholly owned foreign […]
Absolut Care, a skilled nursing operator based in upstate New York, will sell off four facilities, reducing its footprint in the area by a third. New operator Personal Healthcare will take over a pair of 40-bed facilities in Eden and Dunkirk, N.Y., along with a 120-bed nursing home in Salamanca and a 100-bed facility in […]
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