The Ensign Group Buys Texas Skilled Nursing Facility at 59% Occupancy

The Ensign Group, Inc. (NASDAQ:ENSG) announced on Tuesday it had acquired a 150-bed skilled nursing facility located in Paris, Tex. for an undisclosed price. A subsidiary of Keystone Care, Inc. will operate Paris Nursing & Rehabilitation Center, which was 59% occupied at time of acquisition. The prior owners opened operations on the relatively new facility […]

Holiday Retirement Buys Texas Senior Living Community from Developer

Holiday Retirement recently purchased an active independent living community located in Allen, Tex., from Zerga Development, LLC for an undisclosed price. McKinney-based developer and operator Zerga was the general partner, developer, and operator of the 196-unit property, Parkview in Allen, a HUD Section 221(d)(4)-financed project built in 2006.  Mike Girard and Ed LaFrance of commercial […]

Shareholders Suing Advocat for Rejecting Covington’s Takeover Proposal

Three times, Covington Investments, LLC proposed to buy out Advocat, Inc. (NASDAQ:AVCA), and three times the skilled nursing operator said ‘no.’ But now some angry Advocat shareholders are suing the company for rejecting Covington’s takeover bids. In letters sent on Feb. 27, March 22, and April 12, 2012, Covington made proposals to acquire Advocat, eventually […]

Harrison Street and Engel Burman to Buy Back Assisted Living Chain, Build More

Chicago-based private equity firm Harrison Street Real Estate Capital, LLC and development company The Engel Burman Group have agreed to purchase five senior living communities for $290 million from a Canadian-Australian joint venture partnership. Canadian REIT Chartwell Seniors Housing (TSX:CHS.UN) and ING Real Estate Australia Pty are selling the five-property Bristal-branded portfolio, all located in New […]

SRG Assumes Management & Operations of Monarch Village San Francisco

Senior Resource Group, LLC, headquartered in Solana Beach, Calif., announced on Tuesday that it had assumed the management and operations of Monarch Village San Francisco in Daly City, Calif., in a deal with undisclosed terms. The 208-unit independent living community has been renamed Peninsula Del Rey. Located at 165 Pierce Street in Daly City, the […]

NHI to Purchase Texas Skilled Nursing Facility for $13.4 Million

Healthcare real estate investment trust National Health Investors, Inc. (NYSE:NHI) announced on Tuesday it has exercised an option to purchase and lease a new, stabilized skilled nursing facility located in Texas for a purchase price of $13.4 million. The facility opened at the end of 2010 with 125 beds and is operated by affiliates of […]

UPDATED: Advocat Not Saying “I Do” to Covington’s $51 Million Acquisition Proposal

Third time wasn’t a charm for Covington Investments, LLC, who has sent three rejected proposals to acquire Brentwood, Tenn.-based skilled nursing operator Advocat Inc. (NASDAQ:AVCA)—the latest for $8.50 a share (approximately $51 million). “In letters on February 27, March 22, and April 12, 2012, we made what we believe to be very compelling proposals to […]

Healthcare Realty Brokerage Represents Lease of Distressed SNF to Advocat

Commercial real estate brokerage Healthcare Realty Brokerage, headquartered in Clayton, Mo., recently represented a Midwest regional operator to lease the company’s Kentucky skilled nursing facility to Advocat Inc., a publicly traded skilled nursing provider based in Brentwood, Tenn. The lease for Arbor Place of Clinton has an initial 10-year term with two five-year renewal options, […]