Capital Senior Living Buys Senior Care Property for $6.6 Million Capital Senior Living recently purchased an assisted living and memory care community in Elkhorn, Neb., for $6.6 million in a transaction handled by Senior Living Investment Brokerage. Marquis Place of Elkhorn, located in a suburb of Omaha, was built in 2002 with an addition completed […]
Advocat Inc.
Long-term care services provider Advocat Inc. (NASDAQ:AVCA) recently agreed to sell one of its skilled nursing centers in Arkansas to an unrelated party for an undisclosed sum. The facility’s operating margins didn’t meet the company’s long-term strategic goals, said Advocat in a statement, as it contributed revenues of $2.59 million and a pre-tax net loss […]
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 […]
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 […]
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, […]
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