• Interview with Bryan Lockard of JLL Value and Risk Advisory

    Ben Swett, Managing Editor of The SeniorCare Investor, sat down with Bryan Lockard of JLL Value and Risk Advisory to discuss JLL’s 2024 Seniors Housing and Care Investor Survey and Trends, which you can download here. Read More »
  • Wow…Sonida Senior Living

    The last company in our sector, Sonida Senior Living, finally reported fourth quarter and full-year 2023 earnings, and while pretty good, that was not even the story. The story started four weeks ago. In February, the company announced a series of capital transactions which reduced their debt, raised some equity, and provided liquidity to take... Read More »
  • Marcus & Millichap Arranges SNF Leases

    After purchasing four senior care campuses in a large portfolio deal, a seniors housing owner/operator turned to Marcus & Millichap to find new tenants for the skilled nursing portions of each newly acquired campus. Each building was losing close to $1 million annually and had struggled with occupancy and expenses.  While the portfolio... Read More »
  • LSS Absorbs Diakon

    Two large not-for-profits announced that they were combining to create the 12th largest not-for-profit senior living organization in the country. Lutheran Senior Services, based in St. Louis, Missouri, signed an agreement to bring Diakon Senior Living operations and four CCRCs under its umbrella. Both organizations were described by Adam Marles,... Read More »
  • SNF Under Receivership Is Acquired in Kansas

    Marcus & Millichap was brought on by a limited liability company in the sale of a skilled nursing facility in Topeka, Kansas, that was under receivership. The facility, Providence Living Center, comprises 78 beds across 24,000 square feet and focuses on senior residents with mental health needs. Rod Llanos and Colby Haugness handled the... Read More »
BMO Harris Provides $380 Million Credit Facility for Institutional Investor

BMO Harris Provides $380 Million Credit Facility for Institutional Investor

BMO Harris Bank’s Healthcare Real Estate Finance group announced its role as lead arranger and administrative agent on a portfolio term loan refinancing facility in excess of $380 million for 15 seniors housing communities throughout the United States. The properties are managed by five regional operating partners and include over 1,700 units of independent living, assisted living, and memory care. BMO partnered with Capital One, N.A., which served as joint lead arranger, to form the syndicate for the facility, which will be offered at a floating rate. The properties’ owner is a national senior housing real estate investor.   Read More »
BMO Harris Bank Closes Loan for SNF Portfolio

BMO Harris Bank Closes Loan for SNF Portfolio

BMO Harris Bank’s Healthcare Real Estate Finance group closed a $30 million term loan and a $35 million revolving line of credit for a portfolio of skilled nursing facilities operated by Life Generations Healthcare LLC. Headquartered in Santa Ana, Life Generations operates 28 communities in California and Nevada with over 3,100 licensed beds. In addition, the company offers behavioral health programs, assisted living and memory care services. Further details on the financing were not disclosed.  This news follows BMO Harris Bank’s announcement that it provided a $123 million loan to an affiliate of The Inland Real Estate Group of Companies, Inc. That loan provided... Read More »
BMO Harris Provides Loan For 15 MOBs

BMO Harris Provides Loan For 15 MOBs

BMO Harris Bank’s Healthcare Real Estate Finance group has closed a $123 million loan to an affiliate of The Inland Real Estate Group of Companies, Inc. The loan provided recapitalization financing for 15 medical office buildings, totaling more than 419,000 square feet across six states.  Read More »
BMO Harris Finances LCS Construction in New Jersey

BMO Harris Finances LCS Construction in New Jersey

BMO Harris Bank’s Healthcare Real Estate Finance group followed up on its large construction financing closed for LCS and an institutional partner to develop a 220-unit senior living community in New Jersey with another construction loan. The $19.4 million construction loan will support the renovation of a Sunrise Senior Living community in Redmond, Washington.  Originally built in 1999, the community has 110 units of assisted living and memory care. Its renovation will include redoing the bathrooms, fixtures, furnishings and all the common areas. The loan came with an initial term of four years. Read More »
BMO Harris Funds PGIM Real Estate Deal

BMO Harris Funds PGIM Real Estate Deal

PGIM Real Estate and Kisco Senior Living announced their acquisition of a 187-unit independent/assisted living community in Walnut Creek, California at the start of June, and BMO Harris Healthcare Real Estate Finance followed that up by announcing they financed the deal with a $61.75 million credit facility. The group acted as the administrative agent and lead lender on the facility which consisted of a $50.05 million term loan and a $11.7 million construction loan for a planned 40-unit expansion of the community’s assisted living and memory care services on the adjoining 1.22 acres. Located on a 7.3-acre campus about 20 miles east of San Francisco, the property was built in 1991 and had... Read More »