Invesque Shifts Focus to Senior Care Sales
Invesque reported its first quarter earnings, highlighting a few M&A updates. Back in the first quarter of 2024, the company had announced it entered into purchase and sale agreements for three investment properties in New York, expecting to close on the sale transactions in the first six months of 2025. A sale involving one of the properties closed in April 2025 for $25.1 million. Sale proceeds in excess of closing costs were used to pay down the mortgage associated with the property ($18.2 million principal balance) and the residual (approximately $7.3 million) was retained by the company for working capital purposes. In the second quarter of 2024, Invesque executed purchase and sale... Read More »
Turnkey RCAC Sale Closes in Wisconsin
Chad Wegner of Senior Care Realty handled an RCAC sale in Northwest Wisconsin. The community is under two hours from the Minneapolis, Minnesota MSA, with strong occupancy and all private pay residents. It was “turnkey” and profitable at the time of sale. The deal, which closed in May at 104% of the asking price, was based on a 2024 cap rate of 12%. Traditions Assisted Living had been the owner/operator for over 15 years, and the buyer was a repeat client of Senior Care Realty that is expanding its portfolio in Wisconsin. Read More »
Mississippi Seniors Housing Portfolio Secures Refinancing
Steven Muth and Andrew Lanzaro of Berkadia recently completed the refinancing of a four-property seniors housing portfolio in Mississippi for a Southeast-based owner/operator, which is a first-time Berkadia client. Proceeds of the $14 million HUD loan paid off bank debt and partnership debt from a previous addition funded by the sponsor. The two properties were built in 1998 with additions in 2003 and 2013. All four loans have 35-year fully amortizing terms. Read More »
Blueprint Closes Three Two-Property Deals
Blueprint has been active, announcing three separate deals involving six separate assets over the last few days. First, Jacob Gehl and Dillon Rudy facilitated the sale of two seniors housing communities in densely populated, urban submarkets on Chicago’s North and South Side. The seller was a nationally recognized institutional private equity firm, and the properties were managed by Senior Lifestyle. Built in 2006 and 2007, the communities total 252 independent living (majority), assisted living and affordable seniors units. Both communities were profitable but not stabilized at the time of sale, with one asset 90% occupied and the other 70%. Originally developed to accommodate both... Read More »
Dwight Mortgage Trust Finances Bridge Loan
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, financed an $80 million bridge loan to facilitate the acquisition of a five-property skilled nursing portfolio located throughout central Florida. These facilities comprise a total of 518 beds and were 88% occupied. In conjunction with the 30-month bridge loan (which has a six-month extension option), Dwight Healthcare Funding provided a $12 million working capital line of credit to support the portfolio’s ongoing operational needs. This transaction was originated by Josh Sturm, Managing Director of Senior Housing and Healthcare. Read More »
Heritage Pointe Acquires Ohio CCRC
A long-term family owner/operator of a CCRC in Maumee, Ohio, decided to sell their only asset, but only to the right buyer. Ben Bohland and Collin Hempfling of Senwell Senior Investment Advisors handled the process (which also involved multiple advisors, attorneys and banking partners), which saw an active bidding environment and eight total offers. The seller, who was entering retirement, was determined to find a buyer with similar values committed to preserving the campus’ reputation and culture of care. Established in 1949, Elizabeth Scott Community had been in the seller’s family for 75 years. It spans 51 acres and offers 60 skilled nursing beds, 47 independent living/assisted... Read More »
Institutional Buyer Acquires in the Tampa MSA
The Knapp-Stahler Group of Institutional Property Advisors sold a seniors housing asset on behalf of an institutional investor. Located in the Tampa, Florida MSA, the community has 132 units of assisted living and memory care and demonstrated strong operational performance. It appears to be American House Zephyrhills, which was built around 2009. The marketing process generated strong interest from investors. Ultimately, an institutional buyer acquired the asset and retained the existing management team ensuring continuity for residents and staff. Justin Knapp and Nick Stahler handled the transaction. Read More »
Stellar Senior Living Enters Montana
Stellar Senior Living, a senior care owner/operator in the western United States, acquired the operations of two seniors housing communities in Montana. This marks Stellar’s entry into the Montana market. Built in 1997, Helena Pointe is in Helena with 116 independent living units, and Missoula Valley in Missoula comprises 101 assisted living and memory care units. Stellar’s mission is to serve 10,000 seniors by 2030, and with this expansion Stellar now operates 37 senior care communities across nine states, providing a range of services including independent living, assisted living, memory care and skilled nursing. Read More »
Active Adult Community Secures Construction Financing
Berkadia announced the construction financing of Mera Lawrenceville, a 200-unit active adult community in Lawrenceville, Georgia. Austin Sacco, Steve Muth and Garrett Sacco secured the construction financing through Texas Capital Bank on behalf of a joint venture sponsored by Sparrow Capital Partners. The community, 30 miles northeast of downtown Atlanta, is located in a master planned, by-right site in a high-barrier-to-entry market and is in close proximity to Primary Care Center of Georgia, multifamily homes and retail. Read More »
Public Finance Authority Issues Bonds to Finance AL/MC Community
Wisconsin-based Public Finance Authority plans to issue $132.4 million in bonds to finance a retirement community in Potomac, Maryland. The revenue bonds will finance the acquisition, construction and outfitting of the ISF – Potomac Senior Living rental retirement community. The project will feature approximately 68 assisted living units and 26 memory care beds. Proceeds from the bond sale will also be used to fund a debt service reserve, capitalized interest for about 31 months and cover working capital and issuance costs. The offering is structured in two tranches: $128.4 million in Senior Series 2025A bonds, which are tax-exempt, and $4 million in Senior Series 2025B bonds,... Read More »Schedule a demo
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