• 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 »
Diversified Healthcare Trust Transitioning 66 Communities

Diversified Healthcare Trust Transitioning 66 Communities

A few months ago, Diversified Healthcare Trust announced it would transition 108 of 228 senior living communities managed by Five Star Senior Living to new operators. It has now found three operators to take over management of 66 of them with 4,084 units, or 62 units per community.  The 108 communities have approximately 7,500 units, while the remaining 120 communities have about 18,000 units. So, the communities being transitioned to new operators are much smaller (average of 69 units) compared to the retained communities, with an average of 150 units.  Naperville, Illinois-based Charter Senior Living will be taking over management of communities in... Read More »
Care Investment Trust Partners With Phoenix Senior Living

Care Investment Trust Partners With Phoenix Senior Living

Care Investment Trust joint ventured with Phoenix Senior Living for the second time this year, acquiring a 68-unit assisted living/memory care community in Albany, Georgia. Built in 1999, the community was formerly owned by the Phoebe Putney Health System, a not-for-profit health network in southwest Georgia. It now brings Phoenix’s operating portfolio to eight communities across the Southeast, not including three projects currently under construction. Jay Miele and Brady Stern of Hammond Hanlon Camp LLC advised Phoebe Putney on the transaction. Earlier this year, Care Investment Trust and Phoenix Senior Living partnered to acquired a 64-unit memory care community in Fayetteville, Georgia... Read More »
Two Southeast Sales from Senior Living Investment Brokerage

Two Southeast Sales from Senior Living Investment Brokerage

Brad Clousing of Senior Living Investment Brokerage showed his strength in the Southeast, closing two transactions in Georgia and Florida. He first helped a partnership exit the seniors housing industry with the sale of their 64-unit memory care community in Fayetteville, Georgia (20 miles south of Atlanta). The partnership hadn’t been together long (the facility only opened in 2013), but a death within it affected the lease-up process and prompted the sale. The purpose-built community is currently 81% occupied, and working towards stabilization. Since it’s still in lease-up, it was offered at a slightly discounted price per unit, selling for $11 million, or $171,875 per unit. New... Read More »