Public REIT Offloads SNFs Following Lease Non-Renewal
Blueprint started the fourth quarter well after selling a portfolio of skilled nursing facilities in Florida, California and Virginia, on behalf of a public REIT. The existing tenant elected not to renew its master lease, prompting the portfolio divesture. The first closing was completed in Florida for two high-quality SNFs. The two facilities are situated along the Gulf Coast and were built in 2008 and 1988. At the time of marketing, the near-stabilized facilities were both well occupied with attractive quality payor mixes, further supported by the state-implemented Medicaid reimbursement rate increases effective October 2024. Marketing efforts yielded 12 highly competitive offers from... Read More »
Senior Care Owner/Operator Acquires AL Community
Dan Mahoney and Dillon Rudy of Blueprint were engaged by a Louisiana-based not-for-profit owner/operator to market a 40-unit assisted living community in the Inland Northwest region of Idaho. The property maintained a steady resident base and in-place HUD financing. The organization was divesting because the asset no longer geographically aligned with its broader mission and operational footprint. The marketing campaign focused on finding regional and national buyers that would be capable of continuing to fulfill the seller’s mission and the community’s reputation. Blueprint identified a leading owner and operator of seniors housing, assisted living, and home health & hospice... Read More »
Developer Divests to Capital Group
A Class-A seniors housing community near Wichita, Kansas, found a new owner thanks to Evans Senior Investments. The seller developed the community in 2014 and has operated it since then. There are 101 units of independent living, assisted living and memory care. Occupancy was consistent around 90%, and the operating margin was in the high-20s, which could be improved considering the share of IL units. That is the sort of ideal acquisition candidate we have seen generate substantial interest from buyers in today’s market. In the end, a rapidly growing capital group partnered with a regional operator aggressively looking to grow their portfolio in the region to acquire the property.... Read More »
Stellar Senior Living Finances Arizona Community
Marcus & Millichap arranged $22 million in financing for The Springs of Scottsdale, a 143-unit independent living community in Phoenix, Arizona. Paul Winterowd secured the financing with a national life insurance company on behalf of Stellar Senior Living. The sponsor secured a five-year loan at 60% loan-to-value, with a competitive interest rate of 6.05% and a 27-year amortization schedule. The property is located in the heart of downtown Scottsdale and offers one- and two-bedroom units equipped with full kitchens and individually controlled heating and air conditioning. Additional amenities include all-inclusive dining, housekeeping and linen services, a full-time concierge and a gym... Read More »
Brookdale Finally Names a COO
A decade without a Chief Operating Officer? Maybe that is why Brookdale Senior Living has been suffering. But, they are finally filling the position. Mary Sue Patchett is taking on the role, effective December 1st. With Brookdale’s new regional operating model, which she helped redesign and implement, she will have six regional vice presidents, as well as leaders in clinical, dementia care, service alignment, resident and family engagement and experience and dining reporting to her. Patchett brings 40 years of senior living operations experience, currently holding the title of Interim Executive Vice President – Community and Field Operations at Brookdale. She joined the company... Read More »
EVA Care Group Refinances California Portfolio
Helios Healthcare Advisors went to a private credit fund to secure a refinance for a senior care portfolio in California. Totaling 165 beds, there is a skilled nursing facility in San Bernardino and an assisted living community in Fillmore. The communities are owned by EVA Care Group, a Los Angeles-based national healthcare organization. Both properties were previously mortgage free, creating an opportunity for EVA Care Group to unlock liquidity and strategically recapitalize the assets. EVA could have pursued a traditional working capital line, which would have introduced significant administrative burden and come with restrictive covenants that limit operator flexibility. But... Read More »
SLIB Sells a Class-A Mississippi Asset
Senior Living Investment Brokerage facilitated the sale of a seniors housing community in the Gulfport/Biloxi area of Mississippi. Featuring 18 independent living, 60 assisted living and 62 memory care units, the community was built in phases between 2019 and 2025. It is located in the town of Ocean Springs with no major competitors in the local market offering a continuum of care on one campus. The property was stabilized at the time of the sale. A Mississippi-based partnership developed the asset and chose to divest in order to exit the seniors housing sector. The buyer is a Southeast-based regional owner/operator with an existing presence in the state. Daniel Geraghty and Bradley... Read More »
Marx Development Group Finalizes West Virginia Acquisition
Lument Securities has closed the sale of four West Virginia-owned skilled nursing facilities to Marx Development Group (MDG). MDG subsidiary Majestic Care is taking over operations at the facilities in a smooth transition. The deal closed on October 31. Managing Director and Head of Mergers & Acquisitions Laca Wong-Hammond orchestrated the sale on behalf of its client, the state of West Virginia. There was an extensive marketing campaign that resulted in an active bidding environment, with over 140 parties indicating interest, 62 moving forward to signing non-disclosure agreements (NDAs), and nearly a dozen parties submitting letters of intent. MDG was selected due to its experience,... Read More »
Florida Portfolio Receives Financing
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, provided a $120 million bridge loan to finance five skilled nursing facilities in Florida comprising 795 beds. The debt was used to refinance the 120-bed Parklands Care Center & Rehab in Gainesville, and the 120-bed Riverwood Healthcare & Rehab Center in Starke. It also funded the acquisition of the 299-bed Balanced Healthcare in St. Petersburg, the 76-bed Gulfside Health & Rehab Center in Clearwater, the 180-bed Lake Placid Health & Rehab Center in Lake Placid. To further support the facilities’ operations, Dwight Healthcare Funding also provided a $20 million working capital line of credit in conjunction with... Read More »
Seller Divests and Exits Seniors Housing Space
Brooks Minford of Berkadia sold a seniors housing campus in central Florida, in the town of Lakeland between Orlando and Tampa. Built in 2014 and 2017, the community features 156 units of independent living, assisted living and memory care. It was well occupied at 90%. The seller, which is focused on the retail and multifamily sectors but had been involved in seniors housing for more than a decade, wanted to exit the space. Berkadia had previously arranged financing for them. Minford sold the community to a family office with an operating partner. The purchase price was not disclosed. Read More »Schedule a demo
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