Birchwood Healthcare Partners Acquires Three Communities in MD, OK and MO

Chicago, IL (July 10, 2018) – Birchwood Healthcare Partners, LLC (“Birchwood”) is pleased to announce three acquisitions in Maryland, Oklahoma and most recently in Missouri. In December 2017, Birchwood closed on the purchase of a 64 unit assisted living and memory care community in the greater Baltimore area for $6MM and has invested approximately $750k into the cottage style campus since closing.

In May 2018, Birchwood closed on the purchase of a 100-bed nursing center in southeast Oklahoma in close proximity to a portfolio of nursing centers the company already owns in the region. On July 1st, Birchwood closed on another approximately 100-bed nursing center in a community approximately one hour south of St. Louis.

About Birchwood HCP

Birchwood is a Chicago-based health care investment firm with a primary focus on senior housing and nursing centers. With deep industry relationships, access to capital and entrepreneurial structuring capability, Birchwood intends to capitalize on the highly fragmented and dynamic nature of the industry through ongoing acquisitions.

Birchwood Health Care Properties Acquires Two Skilled Nursing Facilities in North Carolina and Texas

Chicago, IL (October 18, 2017) – Birchwood Health Care Properties, LLC (“Birchwood HCP”) is pleased to announce the acquisition of an approximately 100-bed skilled nursing facility in eastern North Carolina and a 155-bed skilled nursing facility in Ennis, TX (approximately 35 miles south of Dallas).  The acquisitions were completed in two distinct transactions with different sellers.  Each facility represents Birchwood’s first community in both states.  The aggregate total transaction value was approximately $11.5MM for the two communities.

About Birchwood HCP

Birchwood HCP is a Chicago-based health care real estate private equity firm with a primary focus on senior housing and skilled nursing communities.  With deep industry relationships, access to capital and entrepreneurial structuring capability, Birchwood intends to capitalize on the highly fragmented and dynamic nature of the industry through ongoing acquisitions and development.

Birchwood Health Care Properties Acquires Memory Care Community in Forest Park, Georgia

Chicago, IL (June 1, 2017)

Birchwood Health Care Properties, LLC (“Birchwood HCP”) is pleased to announce the acquisition of a 60 bed, memory care community located in Forest Park, Georgia.

Birchwood HCP intends to deploy approximately $400,000 in renovations to improve the community through new painting, flooring, furniture, lighting, common area redesign, and various exterior improvements.

Governor’s Glen will be operated by Dennis Stamey, Dr. David Lovell, and Rob Fouse of Canopy Lifestyles. Canopy is an experienced operator founded in 2013 and is based out of Georgia.

Birchwood HCP is a Chicago-based health care real estate private equity firm with a primary focus on senior housing and nursing home communities. With deep industry relationships, access to capital and entrepreneurial structuring capability, Birchwood intends to capitalize on the highly fragmented and dynamic nature of the industry through ongoing acquisitions and development. The investment in Forest Park, GA represents Birchwood’s 22nd asset, all of which were acquired in just over the past two years.

 

Birchwood Health Care Properties Acquires Vacant Senior Housing Community Outside Tampa, Florida

Chicago, IL (January 19, 2017)

Birchwood Health Care Properties, LLC (“Birchwood HCP”) is pleased to announce the acquisition of a 230 unit former senior housing community located in Dade City, Florida. The greater Dade City community is very excited to re-open what was once a historic hotel, just a few blocks from the city’s dowtown. At its peak in early 2015, the community served over 200 residents, prior to running into a number of clinical and operational challenges.

Now under new ownership and management, Birchwood HCP intends to deploy approximately $750,000 in renovations to revitalize the community and again make it a hallmark in the community. The pre-marketing and construction planning was initiated well before closing to facilitate a spring re-opening.

Birchwood HCP has once again partnered with Priority Life Care to manage the building. The two companies also own and operate a community approxiately 30 miles away, so were already familiar with the market and building when it became available for purchase.

Birchwood HCP is a Chicago-based health care real estate private equity firm with a primary focus on senior housing and nursing home communities. With deep industry relationships, access to capital and entrepreneurial structuring capability, Birchwood intends to capitalize on the highly fragmented and dynamic nature of the industry through ongoing acquisitions and development. The investment in Dade City, FL represents Birchwood’s 21st asset, all of which were acquired in the past two years.

EdwinolaHolidayLights

The Edwinola – decked out for the holidays

 

Birchwood Health Care Properties Acquires Alabama Memory Care Facility and Oklahoma Portfolio

Chicago, IL (July 6, 2016)

In two separate transactions, Birchwood Health Care Properties, LLC (“Birchwood HCP”) is pleased to announce the acquisition of a 64 unit memory care facility located in Montgomery, AL and a portfolio of four nursing homes, a hospice company and a home health company located in eastern Oklahoma.

The Memory Care facility was independently owned and operated by a family in Montgomery for many years prior to the acquisition. The facility had approximately $3.1MM of revenue at time of Closing, which occurred on June 16th.

The portfolio in eastern Oklahoma had been independently owned by a group of owner/operators for 20+ years. The portfolio consists of 361 nursing home beds and two ancillary companies which produce approximately $24MM of annual revenue. The portfolio closed on June 30th.

All facilities were stable at time of closing with attractive physical plants and no deferred maintenance. Additionally, clinical performance of all buildings are strong, with deep roots in their local markets due to previous ownership. With these acquisitions, Birchwood increased its portfolio to 18 facilities and 2 ancillary companies in 5 states with 6 operators – all but one facility were purchased in the last 15 months.

Birchwood Health Care Properties Acquires Florida Assisted Living Facility

Chicago, IL (March 17, 2016)
Birchwood Health Care Properties, LLC (“Birchwood HCP”) is pleased to announce the acquisition of a 51 unit assisted living facility outside of Tampa, FL. Stone Ledge Manor was purchased for approximately $5.5MM including purchase price, assumption of liabilities and funding of reserves.  The facility had approximately $1.8MM of annual revenue in place at the time of closing, but was experiencing significant cash management issues in the months leading up to acquisition. While the facility had 52 beds at the time of closing, Birchwood is working towards approval for a 26 bed expansion which it expects to receive in the coming months. The facility was converted to an assisted living facility in 2008 through a gut rehab. First mortgage financing was provided by Congressional Bank.  “We are very excited to form a new operator relationship in Florida”said Isaac Dole, Founder and Managing Principal of Birchwood Health Care Properties.“While the transaction was very difficult to complete, we are very optimistic about the long term prospects for the facility.”
About Birchwood HCP
Birchwood HCP is a Chicago-based health care real estate private equity firm with a primary focus on senior housing and nursing home assets. With deep industry relationships, access to capital and entrepreneurial structuring capability, Birchwood intends to capitalize on the highly fragmented and dynamic nature of the industry through ongoing acquisitions and development.