LTACs did not look too good in a recent OIG report, but SNFs fared better. Last month we hosted a timely webinar on who was going to win the battle for the post-acute patient, when and how. The “when” is still a subject of debate, but the “who” and “how” much less so. The who […]
Here we go again. Land & Buildings Investment Management LLC is stirring up the pot with shareholders yet again after meeting with several members of Brookdale Senior Living’s board in what appears to be a very friendly meeting. Everyone would like Brookdale’s share price to be much higher than it is, and Land and Buildings […]
Here’s something we may be hearing more of next year. Increased competition, lowered census and staffing issues prompted one owner of an assisted living/personal care community in Southwest Pennsylvania to retire early from the business. Built in 1965 and renovated in 1997, the 58-unit community had a history of strong profits and high occupancy until […]
As joint venture partners TH Real Estate (an affiliate of Nuveen, the investment management arm of TIAA) and LCS continue their acquisition activity, BMO Harris Bank’s Healthcare Real Estate Finance group got in on the action and arranged acquisition financing for two of the deals. First, the firm acted as sole lender for a $14.4 […]
Check out our recent senior care M&A deals!
HFF showed its strength in the skilled nursing M&A market, closing three transactions at the end of last month. Dave Fasano sold four Florida SNFs currently in receivership to New York-based TL Management for $24 million, or $66,850 per bed. Built between 1965 and 1996, the facilities averaged 87% occupancy but operated at just a […]
In late November, the team of Mike Surak, Joshua Jandris and Mark Myers of Institutional Property Advisors, a division of Marcus & Millichap, closed on the sale of a 69-unit assisted living and memory care community in Knoxville, Tennessee. The community opened in early 2017 with 54,000 square feet on 6.91 acres. Of the total, 51 units are assisted […]
After a “challenging quarter” when Diversicare Healthcare Services reported a net loss of $7.4 million, (compared with a $600,000 loss last third quarter), a drop in average occupancy to 79.3% (down from 80.1%) a $6.4 million contingent liability fund regarding potential false claims violations, AND the departure of their CEO Kelly Gill, the company completed the […]
The not-for-profit senior care operator, Alliance Health & Human Services, secured both a permanent refinance of its 101-bed skilled nursing facility in Braintree, Massachusetts, and a more stable financial future to further its mission there. The $14.2 million HUD loan, arranged by Aaron Becker of Lancaster Pollard, is the sixth overall closed in the relationship. […]
SunTrust Bank’s ears must have been burning, because on the day of our webinar, Bridge Loans: The Hottest Lending Product for Seniors Housing and Care (which you can still listen to here), the bank originated a $31 million bridge loan for an independent living community in Colorado Springs, Colorado. Just completed earlier this year, the […]