• Brookdale Making Progress, but Is It Enough?

    by | May 8, 2024 10:27 am | Opinion

    Brookdale Senior Living reported its best EBITDA performance in several years, nearly topping $100 million, RevPOR continues to grow (5.8% sequentially), and second quarter guidance for adjusted EBITDA is now between $93 million and $98 million. On the labor front, they had a solid 70% retention rate for Executive Directors for the trailing... Read More »

  • Regional Owner/Operator Divests Facility, Exiting Sector

    by | May 8, 2024 10:13 am | Acquisitions

    Daniel Geraghty and Bradley Clousing of Senior Living Investment Brokerage were engaged by a regional owner/operator in its divestment of a senior care facility. The seller is looking to consolidate its portfolio and exit the skilled nursing industry. The buyer is a regional-based owner adding to its portfolio throughout the state,... Read More »

  • BMO Provides $140.6 Million in Bridge Financing

    by | May 8, 2024 10:11 am | Financings

    BMO Healthcare Real Estate provided $70.6 million in bridge financing to a joint venture of New Perspective Senior Living, Boldt Capital and Fengate Asset Management, for the recapitalization of two Class-A seniors housing communities. The communities total 290 units in Franklin and Waukesha, Wisconsin. Loan proceeds include capital allocated for... Read More »

  • Newer-Vintage Facility in New Mexico Changes Hands

    by | May 8, 2024 10:09 am | Acquisitions

    Blueprint was brought on to facilitate the sale of an inpatient transitional care facility, Las Cruces Port Acute and Rehab. Built in 2017, the facility features 50 beds and is in Las Cruces, New Mexico. It’s located within two miles of three short-term acute care hospitals that offer quality Medicare referral opportunities. Trailing EBITDAR was... Read More »

  • Public REIT Divests in Northern Louisiana

    by | May 8, 2024 10:07 am | Acquisitions

    Helios Healthcare Advisors facilitated the purchase of two assisted living communities in Northern Louisiana on behalf of an independent investment group based in Texas and Louisiana. Savannah Court of Bastrop and Savannah Court of Minden were owned by a public REIT and operated by a regional provider under a triple-net lease. Built in the late... Read More »
Fannie Mae Origination in Oregon

Fannie Mae Origination in Oregon

by | Jun 2, 2017 7:00 am | Financings

Almost five years after taking over the operations of a 92-unit senior living community in the town of The Dalles in northern Oregon, family-owned The Springs Living has become its sole owner, thanks to a $17.5 million Fannie Mae refinance arranged by Capital One’s Dague Retzlaff and Mark Bultman. Harrison Street Real Estate Capital bought the community as part of a four-property, 419-unit portfolio in November 2012 for a total of $65 million, or $155,130 per unit, and brought in The Springs to operate. At the time, the portfolio was 89% occupied and operated at a 26% margin on $15.65 million of revenues. We believe Harrison Street has since added value to the property, as it typically... Read More »

Welltower’s half-billion-dollar buy

by | Feb 19, 2016 8:31 am | Acquisitions

After owning what is known as the Aston Gardens portfolio in Florida for just two and a half years, Kayne Anderson Real Estate Advisors has sold the six-property portfolio with 1,930 units to a joint venture between Welltower and Canada Pension Plan Investment Board (CPPIB) for $555 million. They will own a 97.5% interest, so grossed up to 100% equates to a per-unit value of $295,000. The manager, Discovery Senior Living, will retain a 2.5% interest, down from 10% with the previous owner. Kayne Anderson bought the portfolio in late 2013 for an estimated $400 million from GE Healthcare Finance. During GE’s ownership, occupancy had dropped from 95% to below 85%, which caused them to remove... Read More »