More than two-dozen skilled nursing facilities in Iowa are under new ownership, following the closing of a historic transaction this month. The sale is the largest SNF deal ever recorded in The Hawkeye State, according to Marcus & Millichap, which closed the transaction. ABCM sold its skilled nursing and assisted living assets to Chicago-based private […]
Marcus & Millichap
Tryko Partners continues to expand its New Jersey skilled nursing portfolio after acquiring two facilities from one of the state’s largest health systems. Purchased from Virtua Health, the two facilities will be renamed Berlin Rehabilitation & Healthcare Center and Mount Holly Rehabilitation & Healthcare Center, according to a news release announcing the deal. The standalone […]
Persistent skilled nursing headwinds – namely the ongoing labor crisis – have largely marred occupancy gains for the industry since census first took a dive at the start of the pandemic. Additionally, high levels of turnover among skilled nursing positions across the board is resulting in the need for increased wages and bonuses, among other […]
As the road to recovery continues for the senior housing and care industry, a new survey from real estate giant CBRE, released this month, indicates significant investment growth in the short-term with a full recovery expected sometime in 2022. With the skilled nursing mergers-and-acquisitions market hotter than ever right now, summer cap rates for these […]
While the skilled nursing sector will continue to experience occupancy recovery well beyond this year, the average sale price of facilities per bed has been the highest since 2016. Nursing care assets have traded with an average sale price of $90,700 per bed, according to an outlook report released by Calabasas, Calif.-based real estate brokerage […]
The Hope Creek Care Center in East Moline, Ill., was listed for sale at $19 million — but county officials confirmed an offer of just $6 million from Aperion Care, the Quad-City Times reported last week. Broker Marcus & Millichap had listed the property, which has an outstanding mortgage debt of $11 million and short-term […]
Symphony Post Acute Network expanded its footprint into the Michigan market this week with the acquisition of Caretel Inns of Brighton and Caretel Inns of Lakeland, a pair of skilled nursing and assisted living facilities. Located in Brighton and St. Joseph, Mich., respectively, the facilities blend high-end post-acute care with assisted living units, according to […]
Commercial real estate finance firm Walker & Dunlop (NYSE: WD) has added five broker leaders from Marcus & Millichap in a move to bolster its senior housing and care presence in the Chicago area. Managing directors Mark Myers and Josh Jandris, along with senior vice president Jordyn Berger and VPs Alex Vice and Mike Surak, […]
Cascade Capital Group expanded its footprint in a major way over the last month, buying a total of 15 skilled nursing and assisted living facilities in two separate transactions with a total purchase price of $130 million. The first deal, which closed May 1, saw Cascade pick up five skilled nursing buildings in Southern California, […]
Private investors continue to drive interest in the skilled nursing industry despite knowing full well the pressures that operators face, according to a new analysis from real estate brokerage and advisory firm Marcus & Millichap. Over the last year, nursing homes have accounted for about half of the deal volume in the senior living space […]
Welltower Offloads Broward County SNF for $15.4M Welltower Inc. (NYSE: WELL) recently sold the Heartland of Tamarac skilled nursing facility for $15.4 million, the South Florida Business Journal reported. The real estate investment trust offloaded the building to 5901 Tamarac LLC, a company associated with Millennium Management of Miami, according to the publication. The facility […]
Maryland Facility Sells for $17.25M Marcus & Millichap’s Knapp Group Seniors Housing Advisors facilitated the sale of a 145-bed skilled nursing facility in Burtonsville, Md., for $17.25 million. After facing increased management challenges, the not-for-profit Michigan-based owners sold the 62,500 square-foot facility to a Maryland-based LLC that owns and operates several SNFs. Jim Knapp and Joseph […]
$25M Facility Grows in Florida Greystone Healthcare Management announced the development of a 120-bed skilled nursing facility in Lakeland, Fla., with a target opening date in late 2020. The $25 million project will bring skilled services to the Lake Gibson Village assisted and independent living community, with the goal of creating a “health care resort” […]
Skilled nursing occupancy rates, already sitting at record lows, will continue to plummet in 2018 according to the most recent projections from Marcus & Millichap. The commercial real estate brokerage predicts that skilled nursing occupancy will fall to 85.3%, a dip of 80 basis points and a new low for the decade. “The skilled nursing […]
Investors have been less interested in buying skilled nursing properties this year, as they have shifted their attention more toward private-pay assisted living. Overall transaction velocity in the skilled nursing sector has declined 17% over the past year, according to a new report from Marcus & Millichap, a Calabasas, Calif.-based commercial real estate brokerage and research […]
Anyone hoping for skilled nursing occupancy to bounce back this year might want to adjust their expectations. Occupancy for skilled nursing is projected to dip 40 basis points in 2017, hitting 86.4% by year-end, according to a recently released Marcus & Millichap Seniors Housing Research National Report for the first half of 2017. The Calabasas, […]
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