• 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 »
PGIM Provides Financing For Harrison Street Acquisition

PGIM Provides Financing For Harrison Street Acquisition

The lending market came alive in the month of June, in tandem with the seniors housing acquisition spike. As such, PGIM Real Estate provided a $250.4 million fixed-rate, cross-defaulted and cross-collateralized loan to support Harrison Street’s acquisition of 12 of the 24 properties it bought for $1.2 billion. These 12 assisted living/memory care communities were owned by Gallaher Companies, with Oakmont Management Group as the operator. They total 1,118 units and are located in the San Francisco, Los Angeles, Ventura, Sacramento, Riverside, San Diego, Stockton, and Las Vegas metro areas. Greystone also placed financing for 16 of the 24 properties that were owned by both Gallaher and... Read More »
PGIM Refinances Tennessee Senior Living Community

PGIM Refinances Tennessee Senior Living Community

PGIM Real Estate announced its latest transaction, with Executive Director Chris Fenton leading the way. It involved a $10.6 million HUD refinance of a senior living community in Ashland City, Tennessee. Built in 2015 with 100 beds in 80 units, the community provides assisted living and memory care services in a four-story building.   Thunderhawk Management & Consulting is the operator and currently runs the property at 90% occupancy. There is also an on-site wellness center that hosts rehabilitation services and therapists.  The $10.6 million loan took out previous HUD debt and comes with a 35-year term.  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 »