AdCare Health Systems Inc. will pay $38.5 million for 15 skilled nursing facilities in four states. Located in South Carolina, North Carolina, Virginia and Tennessee, the facilities have 1,995 beds and generate an estimated $93 million in gross annualized revenues according to their most recent financials. AdCare said its annualized run rate is expected to exceed $268 […]
Category: Acquisitions
Senior living community operator Arcadia Communities, based in Louisville, Ky., said it closed on the acquisition of the Trace Senior Living Community in Covington, La., for an undisclosed amount. The 77-apartment community provides independent living, assisted living, and memory care options for its residents. “We are very excited with the addition of the Trace to […]
Aetna (NYSE: AET) has expanded, and just in time to prepare for a burgeoning retirement-age Baby Boomer population, says the company’s CEO. Aetna is acquiring Genworth’s Medicare Supplement business and related blocks of in-force business for approximately $290 million. The deal, which is expected to close during the fourth quarter of 2011, includes more than […]
Waterton Residential acquired the Parc Alpharetta, a high end upscale rental age restricted community in Alpharetta, GA for an undisclosed sum. Constructed in 2008, it’s the town’s only active adult +55 community and includes 210 units consisting of 85 one-bedroom/one-bathroom, 26 one-bedroom/one and a half bathroom, 93 two-bedroom/two-bathroom, and six two-bedroom/two and a half bathroom town […]
AdCare Health Systems, Inc. has closed on the last of its three newly acquired skilled nursing facilities in Georgia. The facilities, located in Dublin, Marietta, and College Park, Ga., were purchased for a total of $18 million and are a part of the company’s merger and acquisition program begun in 2009. “The acquisition of College […]
Sunrise Senior Living (NYSE: SRZ) said it completed the purchase of the remaining 80% ownership interest in AL US Development Venture, a joint venture between a group of funds affiliated with Morgan Stanley. Originally announced in April, the deal gives Sunrise 100% membership interest in 15 senior living communities. “We are most excited to own […]
The Ensign Group (NASDAQ: ENSG) subsidiaries have agreed to acquire nine skilled nursing and assisted living facilities Careage Management, LLC for an undisclosed amount. Expected to close in July 2011, the facilities include 549 skilled nursing beds and 72 assisted living units. The pending transaction also includes Careage Home Care, a home health agency based […]
Emeritus Corporation (NYSE: ESC) completed the acquisition of 24 assisted living communities with 1,867 units for approximately $99 million. The facilities were part of a joint venture between the company and affiliates of Blackstone Real Estate Advisors. Previously, Emeritus owned a 19% interest and Blackstone had 81% interest and had been operating the communities since […]
The Ensign Group (NASDAQ: ENSG) moved into Nevada with the acquisition of the Grand Court Las Vegas, a 152-unit assisted and independent living facility in Las Vegas, Nevada. Effective June 1, 2011, Ensign said it paid an undisclosed amount of cash for the facility, which as of closing, had an occupancy rate of approximately 85%. “We […]
Brookdale Senior Living (NYSE: BKD) has agreed to acquire Horizon Bay Realty, the ninth largest operator of senior living communities in the United States. Upon closing, Brookdale will add an additional 90 communities to its portfolio with over 16,000 units in 19 states. As part of the deal, Brookdale entered agreements to restructure Horizon Bay’s existing relationship […]
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