• Public REIT Purchases Texas Class-A Seniors Housing

    by | Apr 23, 2024 3:56 pm | Acquisitions

    Blueprint was engaged in the divestment of a Class-A seniors housing community in San Antonio, Texas. Built in two phases in 2011 and 2017, Franklin Park TPC Parkway comprises 269 independent living, assisted living and memory care units. Following the completion of a six-year freeway expansion project that affected leasing, access to the... Read More »

  • Eads Sells Its 24th & 25th Missouri Community

    by | Apr 23, 2024 3:54 pm | Acquisitions

    Patrick Byrne of Eads Investment Brokerage facilitated the divestment of two seniors housing communities in Missouri. This marks the 24th and 25th communities sold in Missouri for Eads. The Moberly community (which we believe to be Mark Twain Assisted Living) comprises 35 assisted living/independent living units and sold for $2.57 million, or... Read More »

  • 60 Seconds with Swett: CMS Raises the Minimum Staffing Mandate

    by | Apr 23, 2024 3:48 pm | 60 Seconds

    On Monday, CMS came out with its final minimum staffing standards for nursing homes, but the eventual outcome is anything but final. Despite the outcry from nursing home providers from the previous proposed mandate of three hours per resident per day, asking simple questions like how can we pay for this and where will this newly needed staff come... Read More »

  • More Shareholder Activism

    by | Apr 22, 2024 9:04 am | Opinion

    Fresh from its success in getting two people voted onto the Ventas Board of Directors, Land & Buildings is at it again, this time with National Health Investors. Like all the REITs, NHI’s managers and tenants had their share of problems during the pandemic. Who didn’t? Most of these issues are behind it, but the REIT could be in even stronger... Read More »

  • Active Adult Expansion A Hit With Investors

    by | Apr 22, 2024 9:02 am | Developments

    How often have we heard that new development is dead? Or that CCRCs (LPCs) are on their way out? Too often. But how often do you hear about an Active Adult expansion on a CCRC campus, and one with entrance fees? Not often enough. That didn’t stop Three Pillars Senior Living Communities and Cain Brothers from putting together a plan that may... Read More »
Welltower Acquires Philly-Area Community

Welltower Acquires Philly-Area Community

by | May 5, 2021 9:52 am | Acquisitions

The Newmark team was busy in the Mid-Atlantic last month, having earlier closed the sale of a seniors housing community in Chesapeake, Virginia (Virginia Beach MSA). Newmark also headed up the coast to sell a 76-unit assisted living/memory care community in a suburb of Philadelphia.   A private equity fund had purchased the property several years before but experienced slightly declining census before the pandemic caused occupancy to drop to 71%. Built in 2013, the community was bringing in no positive NOI at the time of the sale to Welltower for a purchase price of $19.5 million, or $256,600 per unit. Sunrise Senior Living will take over... Read More »
Callison Moves To Sunrise Senior Living

Callison Moves To Sunrise Senior Living

by | Feb 8, 2021 9:28 am | Opinion

Jack Callison Jr. has been named the new CEO of Sunrise Senior Living, after the December announcement that current CEO Chris Winkle was leaving effective April 1. Ferguson Partners led the executive search effort. Mr. Callison has spent the last seven and a half years as CEO of Enlivant, taking over the role concurrent with TPG’s take private acquisition of the company. However, he will remain Chairman of the Board of Directors at Enlivant, and current president and COO Dan Guill will take over as CEO.   Before that, Mr. Callison spent five years in the CEO position at Holiday Retirement, some of which were a bit tumultuous. Running two different national seniors housing operating... Read More »
Justin Hutchens Moves to Ventas

Justin Hutchens Moves to Ventas

by | Feb 20, 2020 4:48 pm | Opinion

After several years of living across the pond, Justin Hutchens has decided to return home. Following a successful stint as CEO of HC-One, the UK’s largest senior care provider with more than 300 facilities, Hutchens will be moving to Chicago to be EVP, Senior Housing, North America at Ventas. We have known Justin for almost his entire career in senior living, and not only like him, but have a lot of respect for what he has accomplished. However (isn’t there always a however?), this will be the second CEO position he has left (National Health Investors was the other), and our gut tells us there must be something else because he will be one of four EVPs at Ventas.  Yes,... Read More »
Lending in Leominster

Lending in Leominster

by | Apr 9, 2019 2:08 pm | Financings

KeyBank Real Estate Capital arranged a first mortgage through Fannie Mae on behalf of a Sunrise Senior Living property in Leominster, Massachusetts. Originally built in 1996 with 48 assisted living units, the property added 23 memory care units in 1999 and converted 10 existing AL units into nine MC units in 2013. In that most recent project, the owner also added a common room and dining room to the community. Now, to refinance existing debt, Carolyn Nazdin of KeyBank arranged a non-recourse $12.2 million loan, with a 10-year interest-only term. Read More »
What 10 Years Can Do

What 10 Years Can Do

by | Nov 30, 2018 7:01 am | Opinion

With everyone so fixated on the future (the upcoming flu season, the 2026 Boomer Boom, etc…), and rightfully so, we also think it’s important to peak back in the past to gain some perspective. A #flashbackfriday, if you will. November 2008 doesn’t conjure many fond memories for most industries, but particularly for the capital markets. By that month, the Dow Jones Industrial Average dropped below 8,000 (on its way to 6,443 in March 2009). Liquidity had dried up, and investors, more often than not, were looking to sell, not buy (even if some of those buys would have paid off many times over in hindsight). And when those selling shareholders had a target in mind, they went for blood, selling... Read More »