• National Lending Group Divests in Wisconsin

    by | Apr 25, 2024 3:31 pm | Acquisitions

    Justin Knapp, Nick Stahler and Ray Giannini of Marcus & Millichap recently closed the receivership sale of an 86-bed skilled nursing facility in Wisconsin. The Knapp-Stahler Group represented the seller, a national lending group that also provided financing for the deal.  The borrower/buyer was a local operator with ties to an East... Read More »

  • CFG Secures Bridge-to-HUD Loan for Ohio Skilled Nursing Facility

    by | Apr 25, 2024 3:30 pm | Financings

    Capital Funding Group secured financing for a skilled nursing facility in Ohio on behalf of a nationally recognized borrower. The bridge-to-HUD loan totals $13.5 million and supports the refinancing of this 120-bed SNF. Tim Eberhardt and Ava Julio of CFG originated the transaction.  This financing follows CFG’s closing of two HUD loans on... Read More »

  • CBRE Secures Financing For Class-A Seniors Housing Community

    by | Apr 25, 2024 3:29 pm | Financings

    CBRE secured financing for a Class-A seniors housing community in North Dakota on behalf of a joint venture borrower. Built in 2017, New Perspective West Fargo is in Fargo, one mile from Sanford Medical Center, North Dakota’s newest and largest medical center. The community features 128 independent living, assisted living and memory care units... Read More »

  • PCP Purchases Ohio Assisted Living Community

    by | Apr 25, 2024 3:27 pm | Acquisitions

    Phorcys Capital Partners LLC, the investment advisor to Phorcys Senior Housing Recovery Fund LP (SHRF), announced it acquired a seniors housing community in Wickliffe, Ohio, through a trustee-directed short sale for $13.0 million, or $81,000 per unit. This is PCP’s second investment in SHRF, and it will continue to focus on the winding down of... Read More »

  • Newmark Closes Class-A Deal in Denver

    by | Apr 24, 2024 8:44 am | Acquisitions

    A new seniors housing community traded in the Denver, Colorado MSA, with the help of the team at Newmark. Developed in 2017, MorningStar at RidgeGate is located in the suburb of Lone Tree within the Ridgegate master plan that features retail, cultural amenities and a 284-bed hospital nearby. The property comprises five stories over subterranean... Read More »
HHS and CMS Appointments

HHS and CMS Appointments

by | Nov 30, 2016 8:32 am | 60 Seconds, Opinion

It could be a turbulent year for SNF valuations in 2017. After the election….that one….we thought we might be in for a wild ride with the unpredictable Donald Trump taking over. Healthcare M&A, which had slowed down a bit this year, seemed to be picking up, and interest in our products spiked after the election, which is always a telltale sign. But with yesterday’s announcements of the new heads of HHS and CMS, the ride could get a little wilder. By naming Tom Price to run Health and Human Services, one of the more anti-ObamaCare members of Congress and a physician to boot, you know what is going to happen. And apparently, he has been opposed to the rush to value-based Medicare... Read More »
A Premier Purchase

A Premier Purchase

by | Nov 30, 2016 8:31 am | Acquisitions

Premier Senior Living Group added a 23rd seniors housing community to its portfolio, and entered the Pennsylvania market at the same time. Founded by industry veterans Wayne Kaplan and Robert Borsody, the New York City-based Premier Senior Living already had operations in Michigan (9), New York (6), Ohio (3), North Carolina (2) and Florida (2). This new addition in Pennsylvania is located near Scranton in the town of Moosic. The stand-alone 35-unit (58 beds) memory care community was built in 1996 and is well occupied in the mid- to high-90s. Premier used its own equity to fund the $8.5 million, or $242,857 per unit, purchase price. Read More »
Divest in the Southwest

Divest in the Southwest

by | Nov 30, 2016 8:30 am | Acquisitions, Financings

A joint venture between Westport Capital Partners and Integro Healthcare Consulting is swapping two seniors housing assets located in the Southwest. First, in Santa Fe, New Mexico, the JV is selling a 99-unit independent living/assisted living community with a checkered past to Sabra Health Care REIT for $22 million, or about $220,000 per unit. In addition, there are 46 individually-owned condos. Originally conceived as an IL for-sale condominium complex geared towards those in the LGBT community, the property opened in 2008 during the Great Recession, and had a difficult time leasing up under inexperienced ownership. The joint venture between Westport Capital Partners and Integro... Read More »

Recap and refinance

by | Nov 29, 2016 8:57 pm | Financings

Teaming up with two banks, Lancaster Pollard recently closed a $72 million recapitalization for a portfolio of six skilled nursing facilities in Texas and Oklahoma. The owner of the facilities is a regional provider based in Texas, which will be able to refinance its existing indebtedness, complete the buy-out of a partner and fund future growth initiatives with this transaction. Kyle Hemminger, Chris Mauger and Patrick Hackett led the way for Lancaster Pollard on the financing. Read More »
HHS and CMS Appointments

Being Thankful For What I Do

by | Nov 23, 2016 8:32 am | 60 Seconds

Happy Thanksgiving to all! So here we are, on Thanksgiving Eve. And what do I have to be thankful for? Besides my family, friends and co-workers, I am very thankful that I made the decision 30 years ago to get involved in the seniors housing and care business. It has been quite the ride, and for those of you who have been around a long time and remember, I am glad I took my last skilled nursing facility listing more than 22 years ago. I never sold it, but Mark Davis of Healthcare Transactions Group took over the sale for us when we exited the brokerage business in the early 1990s, and got the deal done. Since then, I have really enjoyed what I do, writing about what is happening with... Read More »