MARANA, ARIZ. (July 15, 2025) – Mark Biery, JD, CCIM, recently closed on Beehive Homes assisted living Marana, a 20-bed assisted living facility and the existing operating business, at 6180 W. Mamie Kai Drive in Marana, for $2,350,000. The business was $75,000, and the real estate was $2,275,000.
Beehive Homes of Marana, which opened for business in 2014, was designed, built, and operated by MM&P Healthcare Properties, LLC, a family-owned private development and investment group. The Beehive Homes name is a locally-owned franchise, with the corporate Beehive office located in Idaho.
“Financing was a challenge with this deal,” Biery said. “The business had not been performing as it should have since Covid – the pandemic really hit the senior housing industry hard – and the partners were all off-site. There were two LLC’s, with one holding the real estate, and one operating the business. The business LLC paid the holding LLC rent. That’s a pretty typical structure for this industry.
“The owners accepted residents with a subsidized ALTCS (Medicaid) plan, and that kept the building fuller, but ALTCS pays less than operators can charge privately-paying residents.
“The buyer approached quite a few banks, and the breaking-even profit-and-loss statements didn’t give them the debt-coverage-ratio they wanted. Even though the buyer has a large senior housing portfolio that performs well, the banks wanted the business to support its own mortgage, without cash from other properties. We eventually found a bank that did the mortgage.” According to Biery, the 40,000 SF parcel has enough room to construct a second, identical building, increasing the total capacity to 40 beds. The buyer will drop the Beehive name and will operate the facility locally.
For more information, you can reach Mark Biery at: (520)235-2531, or MarkBieryTucson@Gmail.com