Diversicare Announces Acquisition of Operations of 2 Ohio Properties Diversicare Healthcare Services, Inc. (NASDAQ:DVCR), a provider of long-term care services, recently announced the assumption of operations at two facilities in Ohio. The transaction includes a 142-bed skilled nursing facility in Avon, Ohio, and a 42-bed assisted living facility in Ontario, Ohio. These facilities are expected […]
Virtus Real Estate Capital
Home care can be a competitor or a potential partner for senior living providers looking at new markets for development, but the market agrees it largely depends on the product type in question. For developers looking to build independent living communities, home care agencies can present opportunities to become valuable partners in maintaining occupancy, whereas […]
Virtus Real Estate Capital and American House Senior Living recently announced the acquisition of Sterling Woods, an independent living community in a Detroit suburb, for $7.65 million at a trailing 12-month cap rate of 8.5%. The property, known as American House Sterling Woods, is a 78-unit community consisting entirely of one- and two-bedroom apartments. The […]
On Dec. 31, 2012, Virtus Real Estate Capital, LP closed its first senior living acquisition, an independent living property in Warren, Mich., in a $20.8 million transaction at a T-12 cap rate of 8.41%. Park Place at Heritage Village is a 136-unit/158-bed, 200,000-square-foot independent living property built in 2007 and located in a high-end suburb […]