• 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 »
MonticelloAM Funds Large Virginia Acquisition

MonticelloAM Funds Large Virginia Acquisition

MonticelloAM and its affiliates just announced a large first lien debt financing to fund the acquisition of five skilled nursing facilities in Virginia. The borrower, an experienced owner/operator with an established relationship with Monticello (having received acquisition financing for several other facilities in 2019), obtained $97.2 million in debt, including an $8 million working capital loan provided to its operating companies. Monticello’s asset-based lending group, Monticello Commercial Capital, provided the working capital.   The acquisition featured 856 beds located primarily around Richmond, bringing the owner’s portfolio to a total of 1,155 licensed beds. The... Read More »
Owner/Operator Makes Big Purchase in North Carolina and Kentucky

Owner/Operator Makes Big Purchase in North Carolina and Kentucky

An experienced owner/operator just bought a large portfolio of skilled nursing facilities in North Carolina and Kentucky, thanks in part to first-lien debt financing provided by Monticello Asset Management and its affiliates. The acquisition involved 12 SNFs evenly split between the two states. The properties averaged a 1977 vintage, and the gross building area totaled 402,554 square feet.   There was also one skilled nursing facility already in the buyer’s portfolio that was refinanced in the deal. Altogether, there were 1,357 beds across the portfolio, bringing the buyer’s total to more than 8,750 licensed beds.  Monticello had worked... Read More »
Monticello Closes Two More First Lien Debt Financings

Monticello Closes Two More First Lien Debt Financings

The financings keep on flowing from Monticello Asset Management, which recently secured two more first lien debt packages for clients in the Mid-Atlantic. The Maryland transaction consisted of a $32 million loan provided to an experienced owner/operator with a portfolio of over 1,300 licensed beds to refinance its 177-bed skilled nursing facility in Cecil County (northwest Maryland). Built in 1994, the facility (through its operating company) also received a $2 million working capital loan. Then, in New Jersey, Monticello funded the acquisition of a rental CCRC in Camden County with $38 million in first lien debt. Consisting of 226 independent living units, 113 assisted living/memory care... Read More »
Monticello Finances Tennessee Transaction

Monticello Finances Tennessee Transaction

Monticello Asset Management and its affiliates provided $15.8 million in first lien debt to finance the acquisition of three assisted living/memory care communities in Tennessee. Totaling 126 units, the communities will also be renovated thanks to funds from this transaction. The borrower was an experienced owner/operator of seniors housing communities with a portfolio of more than 1,100 units, inclusive of recent acquisitions. This is the second Tennessee transaction closed by Monticello this month. The earlier deal consisted of $16.68 million of first lien debt for the refinance of two skilled nursing facilities and 303 total beds in the state. That transaction also included a $3 million... Read More »
Monticello Finances Two Tennessee SNFs

Monticello Finances Two Tennessee SNFs

Monticello Asset Management and its affiliates provided $16.7 million in first lien debt to refinance two skilled nursing facilities in Tennessee. Totaling 303 beds, the facilities are owned by an experienced owner/operator with a portfolio of more than 4,630 licensed beds. They were built in 1969 and 1977, respectively. Monticello also had an established relationship with the borrower, having financed its acquisition of a number of facilities in the past several years across multiple transactions. This transaction also included a $3 million working capital loan to the properties’ operating companies. Monticello’s asset-based lending group, Monticello Commercial Capital, provided that... Read More »