Monthly Archives: April 2015

April 29, 2015
Ryan Saul

10 Key Things When Buying or Selling a Nursing Home or Assisted Living Facility


If you are in the market to buy or sell a nursing home or assisted living facility, there are a number of items to consider as it relates to the Purchase Agreement and Transition.  While we can’t identify and answer all the issues, the following represent some of the key items to consider:

  1. Make sure title and zoning are conforming
  2. Understand your successor liability post closing
  3. Finalize contract schedules early in the process (i.e. allocation of purchase price)
  4. Know when the CHOW is filed depending on state to ensure timely close
  5. Sellers calculate PTO to employees and Buyers identify when that will be paid out
  6. Identify assumed contracts vs. terminated contracts and potential costs associated
  7. When to inform staff about a sale and who do you bring into the know
  8. Review loan docs to ensure there are no lock outs or cost surprises
  9. Sellers compile due diligence information before sales process starts
  10. Buyers stand ready with the due diligence list to accompany LOI


Please contact Ryan Saul if you are considering buying or selling a nursing home, long-term care or Seniors Housing Community.

April 16, 2015
Jason Punzel

NIC Spring Conference


National Investment Center (NIC) holds their main industry conference every Fall and a Regional conference every Spring, typically alternating between Florida and California.  The NIC conferences are typically attended by REITs, private equity companies, operators, lenders, brokers and industry suppliers of the Seniors Housing Industry.  The conference consists of speakers, educational sessions and a focus on networking meetings.

After recently returning from the Spring NIC conference in San Diego, I have a few observations:

  1. The conference was well attended. The final attendee list showed about 1,000 attendees, which is an excellent turnout for a Regional conference.
  2. The overall mood of the conference continues to be very upbeat in terms of buying, selling, financing and overall business operating fundamentals.
  3. There is an abundant supply of capital, both debt and equity, available for acquisitions.
  4. There is some concern that the sales market could be overheating as property values continue to increase.

Overall, I think the sales/acquisition market is in a good equilibrium with an ample supply of buyers, sellers and capital.  It is probably more of a seller’s market at the given moment.   However, given the low interest rates and lack of other attractive investments, it is still a good time for buyers as well.

If you are considering buying or selling a senior living community, please contact Jason Punzel at 630-858-2501 x 233 or