• Chicagoland Portfolio Finds New Owner

    A value-add senior care portfolio in Chicagoland traded with the help of Blueprint’s Ryan Kelly, Connor Doherty, Alex Florea, Lauren Nagle and Brooks Blackmon. The team worked on behalf of a national developer/investor, which had engaged Blueprint to create an exit strategy for more than a dozen geographically disparate, older-vintage communities... Read More »
  • Publicly Traded REIT Divests in Illinois

    Berkadia was engaged in the divestment of an assisted living and memory care community in Barrington, Illinois. The Berkadia Seniors Housing Team, led by Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders, closed the transaction on behalf of a publicly traded REIT. The buyer was a regional owner/operator. But no other details were... Read More »
  • CFG Secures $13.55 Million in HUD Loans

    Capital Funding Group closed two HUD loans totaling $13.55 million to support the refinancing of two skilled nursing facilities. Both facilities are in Illinois, and together they comprise 173 beds. No other details surrounding the financing were disclosed. This announcement follows CFG’s closing of $16.25 million in bridge-to-HUD financing on... Read More »
  • CBRE Secures Bridge Financing For Two Communities

    CBRE secured bridge financing for two seniors housing communities in western Pennsylvania. Aron Will and Tim Root arranged a non-recourse loan with a sub-300 spread through a regional bank. The borrower was CPF Living Communities.  Built in 2017, The Residence at Bethel Park is in Bethel Park with 130 independent living units. The Residence at... Read More »
  • G Capital Markets Closes Cash-Out Recap

    G Capital Markets, a capital advisory firm based in Carmel, California, recently closed on the recapitalization of a 29-unit/59-bed assisted living community in Livermore, California. Built in 2021 by a regional owner/operator, the property leased up in 2022 and has shown consistent strong performance since then, with cash flow margins well over... Read More »
Griffin-American Healthcare REITs III and IV to Merge

Griffin-American Healthcare REITs III and IV to Merge

Griffin-American Healthcare REIT III, Inc. (GAHR III) and Griffin-American Healthcare REIT IV, Inc. (GAHR IV) have entered into a definitive merger agreement so that GAHR IV will acquire GAHR III in a tax-free, stock-for-stock transaction. The newly merged company will be renamed American Healthcare REIT, with approximately $4.2 billion in combined healthcare real estate assets.  Immediately prior to the acquisition, GAHR III will also acquire the business and operations of American Healthcare Investors, LLC (“AHI”), the co-sponsor of both REITs, and the external advisors of GAHR III and GAHR IV. Combining these entities and the capabilities in acquisitions, asset management,... Read More »
Blueprint Handles Large Louisiana Portfolio Deal

Blueprint Handles Large Louisiana Portfolio Deal

So, it begins. Brooks Blackmon and Steve Thomes of Blueprint Healthcare Real Estate Advisors announced the firm’s first 2020 closing, selling a portfolio of five seniors housing communities in Louisiana. Representing the Georgia-based owner/operator who had originally developed the communities, the pair found a buyer in a joint venture between Griffin-American Healthcare REIT IV and Georgia-based Senior Solutions Management Group (SSMG). Built in the late-1990s, the communities boasted a good reputation in their local markets and historically stable operations. However, the previous owner was looking to refocus on development in their home state, so a sale was pursued. SSMG entered the... Read More »
Meridian Moves into Central California Communities

Meridian Moves into Central California Communities

Griffin-American Healthcare REIT IV found a new operator in Meridian Senior Living for three of its northern California communities. Acquired as part of a five-property portfolio acquisition in June 2017 from Nazareth Healthcare, these communities were then leased to Colonial Oaks under a 15-year absolute net lease with annual rent escalators of 6.5% after the first year and 2.5% thereafter. They were 100% occupied at the time and featured a mix of assisted living and memory care services in Menlo Park (45 MC beds), Sacramento (160 AL and MC beds) and Fairfield (102 MC beds). Originally, there was a second tranche of facilities supposed to be acquired in the 2017 deal, but Griffin-American... Read More »
Griffin-American IV Closes Fourth Quarter Acquisition in Michigan

Griffin-American IV Closes Fourth Quarter Acquisition in Michigan

Griffin-American Healthcare REIT IV announced a number of transactions that they closed in the fourth quarter of 2018. Most of them involved medical office building portfolios, but one saw the acquisition of five assisted living communities in Michigan for an undisclosed price. Totaling 302 units with locations in Grand Rapids, Holland, Howell, Lansing and Wyoming, the communities were previously owned and operated by Vista Springs Assisted Living, which promptly leased them back to continue as operator through 2033 under an absolute net lease structure. This is the first tranche closed of a larger Michigan assisted living portfolio, so we await Part-II. Read More »
Another Missouri Purchase For Griffin-American Healthcare REIT IV

Another Missouri Purchase For Griffin-American Healthcare REIT IV

Griffin-American Healthcare REIT IV returned to Missouri yet again to acquire an assisted living community in the St. Louis suburb of Warrenton. The single-asset transaction follows two portfolio deals for the REIT in the Show Me State, which included eight skilled nursing facilities bought for $88.2 million and two skilled nursing facilities that were a part of a 24-property (the rest located in Illinois) acquisition for a combined $78.5 million. G-A IV acquired the Warrenton property in a RIDEA structure with the incoming operator, Meridian Senior Living, and will own 98% of the JV. Built in 2000, the 53-unit community was 91% occupied, with a 100% private pay census, and in the past... Read More »