Long-term care dominates May real estate deals

Share this content:
Long-term care dominates May real estate deals
Long-term care dominates May real estate deals

Senior living and skilled nursing accounted for almost one-third of the healthcare-related real estate deals announced or closed in May, according to a new list compiled for Bloomberg Law.

Thirty of the 93 deals on the list were related to long-term care, a category in which Bloomberg includes affordable senior housing, independent living, assisted living, memory care, skilled nursing and rehabilitation facilities, and continuing care retirement communities.

Among the deals highlighted on the list:

  • MBK Real Estate's $382 million acquisition of nine independent living, assisted living and memory care communities from WESTliving. The communities are in Arizona, California and Washington.
  • National Health Investors' $67.5 million acquisition of five Sunrise Senior Living assisted living and memory care communities from LTC Properties. The communities, in Ohio and Pennsylvania, now are being managed by Bickford Senior Living.
  • The acquisition of continuing care retirement community Grace Presbyterian Village, formerly operated by Presbyterian Communities and Services, by Ensign's Texas-based portfolio subsidiary, Keystone Care. The community now is known as The Villages of Dallas.

There were twice as many long-term care-related deals in May compared with the next two leading sectors — hospitals and health systems, and physician practices and services — Bloomberg said.

The large number of long-term care-related deals so far this year “signals that these related sectors will continue to heat up as more baby boomers age into their 70s and 80s and require some level of care along the ‘long-term care services continuum,' ” Gary W. Herschman, an attorney with Epstein Becker Green, told Bloomberg Law.

In Focus

July 18

A truckload of charity

Gainesville, FL 

The Village at Gainesville recently donated a truckload of used appliances from its residences to the Bread of the Mighty Food Bank.

Subscribe for free!

Never Miss out

Get top stories sent to your inbox