Joint Venture Secures Refinance for Full-Continuum Community
CBRE National Senior Housing refinanced Harvard Square by Cogir, a full-continuum seniors housing community in Colorado owned by funds managed by affiliates of Fortress Investment Group and operated by Cogir Senior Living. Built in 1982 and significantly renovated several times over the last 10 years, the community has 41 independent living, 144 assisted living and 40 memory care units on a 6.5-acre site. It is set about eight miles southeast of downtown Denver. Aron Will and Adam Mincberg of CBRE National Senior Housing arranged the financing through a national debt fund, originating a three-year, floating-rate loan. The transaction represents the third successful financing of the... Read More »
Chartwell Retirement Residences Completes Portfolio Acquisition
Chartwell Retirement Residences completed its previously announced purchase of six seniors housing communities spread throughout London (three), Dorchester, Waterloo and Mississauga in Ontario, Canada. The purchase price at closing totaled approximately CAD$416.2 million, or US$30 million. An additional CAD$15.8 million, or USD$11.36 million, is payable upon completion of Dorchester Terrace, which is expected in the fourth quarter. The transaction was funded through the assumption of approximately CAD$232.7 million, or USD$167.4 million, of in-place debt, the majority of which is CMHC-insured, and cash on hand. The six purpose-built seniors housing communities present strong... Read More »
Class-A AL/MC Communities Trade on Long Island
BWE Investment Sales’ Seniors Housing Team announced its involvement in the sale of Village Green Senior Living and Village Walk Senior Living, both in high barrier-to-entry locations on Long Island. BWE represented the seller, The D&F Development Group, in the disposition of the Class-A assets, which had the goal of building, leasing up and selling the communities. The buyer was a joint venture between Atria Senior Living, Fundamental Advisors and Scribner Capital. Built in 2020, Village Green is in Levittown and offers 57 units of assisted living and 46 units of memory care across three levels. Village Walk is in Patchogue and was completed in 2018. It totals 146 beds,... Read More »
SLIB Tops $1 Billion in Texas Transactions
Senior Living Investment Brokerage and Matthew Alley topped $1 billion in transaction volume in the state of Texas following the sale of a portfolio of four skilled nursing facilities. The Cascades Portfolio features a combined 647 beds and locations in Port Arthur (two), Houston and Galveston. The facilities were built from 1955 to 1993, with various renovations over the years. Performance could be improved, since occupancy sat at just 42%, and the portfolio was generating little cash flow on $24.24 million of revenues. It may not have helped that these were the only Texas facilities owned by the Utah-based operator/seller. A Texas-based real estate owner bought the portfolio for... Read More »
60 Seconds with Swett: Talking Construction and Cap Rates in Nashville
Another Spring NIC is in the books, and it was great to see so many industry friends in Nashville, which was a great setting for the conference, we must say. And it was another record attendance, with around 500 first-time attendees too. That surely is a sign of seniors housing’s appeal to potential new entrants. And they added to the positive energy in the room, overcoming some worried chatter about the Middle East, oil’s impact on inflation and the recent surge in the 10-Year Treasury Rate. There are plenty of deals, big and small, going around, leaving us more confident that we will break another M&A record in 2026. What we also left Nashville more confident about, which surprised... Read More »
Another Senior Care REIT Files for IPO
Another senior care REIT is eyeing the public markets after filing a registration statement with the SEC for a proposed offering of Class A common stock. National Healthcare Properties’ offering remains subject to market conditions and other customary conditions, and the number of shares and pricing range have not yet been determined. And if completed, the company expects to list on the NASDAQ under the symbol “NHP.” The filing comes shortly after Janus Living completed its IPO at the end of March. While National Healthcare Properties is not solely focused on seniors housing like Janus Living, it represents another signal of confidence in the sector’s long-term fundamentals. And it throws... Read More »
SLIB Handles High-Quality SNF Sale in Texas
Matthew Alley of Senior Living Investment Brokerage handled the sale of a high-quality skilled nursing facility in Lubbock, Texas. Built in 2010 and 2013, Crown Point Health Suites features 108 beds and is well maintained. It also performed strongly, with a 20% margin on nearly $14.5 million of revenues, and an 86% occupancy rate. Its independent owner/operator decided to sell to a Texas-based regional operator for $23 million, or $213,000 per bed, at a 12.8% cap rate. The buyer emerged from multiple competitive offers. Read More »
Jaybird Senior Living Acquires Multi-State Portfolio
An affiliate of Jaybird Senior Living, Jaybird Capital, acquired five senior living communities across Utah, Wisconsin and Minnesota. Jaybird assumed management of the communities in October and stabilized them before executing on the purchase. The company is currently targeting the addition of 15 more communities to its portfolio throughout the year, and it plans to grow its portfolio to over $1 billion in value within five years. Berkadia represented the seller in the deal. Read More »
Newly Formed Investment Firm Enters Senior Care
An 84-unit assisted living/memory care community in Jacksonville Beach, Florida, recently traded with the help of Continuum Advisors, which represented the institutional joint venture seller. Built in 2014, Beach House has 64 assisted living and 20 memory care units, with 100 licensed beds. It is situated on a barrier island near some of the most affluent coastal communities in Northeast Florida. The community also benefits from its proximity to Baptist Medical Center Beaches and Mayo Clinic’s Jacksonville campus. It was last acquired in 2021 by a partnership between Florida-based Foundry Commercial and New York-based Fundamental Advisors LP. Foundry’s seniors housing management... Read More »
Seller Divests Geographic Outlier to Large Owner/Operator
Senior Living Investment Brokerage announced that it sold a well-occupied seniors housing community in Oregon. The building is on an acre in Sheridan, and comprises 44,805 square feet. It was developed in 1996 and features 53 assisted living units. The community was 94% occupied at the time of closing. Jason Punzel, Vince Viverito, Jake Anderson and Taylor Graham at Senior Living Investment Brokerage represented the seller, who deemed the community a geographic outlier, as its portfolio is primarily concentrated in Southern Oregon and Northern California. The ultimate buyer is a large owner/operator that was looking to expand its portfolio. Read More »Schedule a demo
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