Symphony Post Acute Expands into Michigan with Caretel Acquisitions; County SNF Hits Market for $19M

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 […]

Private Investment, Demographics Driving Skilled Nursing Deals Despite Stress

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 […]

South Florida Shuffle: Welltower Sells Building for $15.4M, Two-SNF Portfolio Nets $24 Million

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 Skilled Nursing Building Sells for $17.25M; $27M LTAC Approved in Missouri

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 Skilled Nursing Facility Planned in Florida; Staged Portfolio Sale in OH

$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 to Keep Falling in 2018

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 […]

Skilled Nursing M&A Action Slows, Occupancy Hits 10-Year Low

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 […]

SNF Occupancy Projected to Fall Further in 2017

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, […]