IPA Seniors Housing Closes Over $991 Million in Volume Through 3Q2016
Nov 23, 2016

CHICAGO, Nov. 23, 2016– Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, is pleased to announce that through the third quarter of 2016, the IPA Seniors Housing team has closed 26 transactions valued at over $991 million.

“The IPA Seniors Housing team continues to strengthen its presence in the national market, by way of completed transactions, volume and market share,” says Alan L. Pontius, senior vice president and national director of Marcus & Millichap’s specialty divisions. “IPA Seniors Housing closed 26 transactions valued over $991 million so far this year. These transactions include individual and portfolio assets like assisted living, independent living, CCRCs, memory care components, and skilled nursing facilities, in 15 different states.”

“IPA Seniors Housing transaction volume in the first three quarters of the year highlights the degree to which seniors housing asset sales velocity and valuations have stabilized,” says Joshua Jandris, IPA senior director. “This stabilization in the marketplace has surprised many owners and potential sellers and is driving velocity, which reinforces the notion that compared with a year or two ago, the time to sell is ripe.”

Jandris was recently recognized among Real Estate Forum’s 50 Under 40 best and brightest commercial real estate professionals.

“The horizon remains sunny for seniors housing investment vehicles,” adds Mark Myers, IPA executive director. “The plethora of capital and the dearth of quality seniors housing and long-term care investment opportunities remain catalysts for generating high prices for sellers and profitable outcomes for buyers seeking alternative investment vehicles with higher yields relative to more traditional real estate property types.”

IPA Seniors Housing’s notable transactions through Q3 2016 include:

  • Regency Post-Acute Healthcare System Portfolio located throughout Texas
    (the largest seniors housing sale on record in Texas, and the largest privately held majority skilled nursing portfolio sale on record nationally since 2012)
  • 744-Bed Skilled Nursing Facility in New York, New York
    (the second-largest single-property skilled nursing facility and the largest stand-alone skilled nursing facility sale ever)
  • Arbour Square of Harleysville in Harleysville, Pennsylvania
  • Boomerang Skilled Nursing Portfolio located throughout North Carolina, Michigan, Indiana, Nebraska and Kansas

 

The firm’s brokers of records for the transactions above are: Josh Caruana, Indiana; Greg Bates, Kansas; Steven Chaben, Michigan; Dan Goaley, Nebraska; John Horowitz, New York; Raj Ravi, North Carolina; Brenton Baskin, Pennsylvania; Tim Speck, Texas.