Underperforming Skilled Nursing Facility Trades in Ohio
A 130-bed skilled nursing facility in Cincinnati, Ohio, sold to a regional owner/operator looking to expand its existing Ohio footprint. At the time of sale, the building was operating at a loss, but the buyer’s operational scale and market familiarity positioned the facility for a smooth transition and long-term repositioning. Blueprint represented the seller, which was seeking a speedy transaction due to the facility’s underperformance. So, Connor Doherty and Ryan Kelly of Blueprint targeted qualified regional operators with the ability to quickly assume operations and stabilize performance. The result was a transaction that moved from LOI execution to closing in just 64... Read More »Not-for-Profit Acquires from Not-for-Profit
A not-for-profit organization recently divested a cash-flowing CCRC in Cortland, Ohio. It was looking to recycle capital and reinvest in its broader mission, and ultimately engaged Blueprint to help with the sale. The community, Ohio Living Lake Vista, comprises 39 skilled nursing beds and close to 100 independent living and assisted living units. Operations were stable and there was consistent resident demand. Connor Doherty and Ryan Kelly represented the seller, Ohio Living, with the marketing process and sourced a mission-aligned not-for-profit buyer in Otterbein SeniorLife. Read More »NewPoint Originates Acquisition Financing
NewPoint Real Estate Capital originated $53 million in bridge financing to facilitate Cougar Capital Management’s acquisition of a large portfolio of independent living communities in upstate New York. The 24-month, non-recourse floating-rate loan provided by a debt fund was originated by NewPoint’s Cal Masterson and Kevin Laidlaw. These five communities total 701 units. They were built between 2000 and 2008 and comprise 15 acres in the Rochester MSA. Cougar Capital Management announced that it paid $51 million for the assets, or $72,800 per unit. Property management will be transferred to Willow Ridge Senior Living, which announced that it co-invested in the portfolio, which includes... Read More »Financing Secured for Skilled Nursing Portfolio
MONTICELLOAM, along with firm affiliates, provided $107 million in combined bridge and working capital financing to a four-facility skilled nursing portfolio in Florida. The transaction includes a $100 million bridge loan and a $7 million working capital line of credit. The loan proceeds will be used by the borrower, a returning MONTICELLOAM client, to pay off the existing debt on the portfolio, which comprises 480 beds. Read More »Not-for-Profit Creates Chief Growth Officer Position
The Kendal Corporation, a not-for-profit organization that supports a system of communities and services for seniors, created a new Chief Growth Officer position and then formed a cross-functional Growth Team. Max Ault has been promoted to serve as the inaugural CGO, a role designed to consolidate strategic efforts in Affiliate development, greenfield expansion, and emerging signature programs and services across The Kendal System. This change marks a shift toward more proactive growth planning. The newly formed Growth Team will integrate capabilities from development, marketing, finance and operations. This multi-disciplinary team is charged with building expanded growth... Read More »CCRC Secures Funding for Capital Improvements
Ziegler successfully closed the $47.9 million Series 2025 bonds for Bishop Gadsden Episcopal Retirement Community. Ziegler has had a relationship with Bishop Gadsden for more than 20 years. Bishop Gadsden owns and operates a not-for-profit CCRC on James Island in Charleston, South Carolina. Founded in 1850, Bishop Gadsden provided housing for seniors on the peninsula of Charleston but moved to its current location in 1987 on land donated by St. James Episcopal Church. Over the years, the community has grown to include a campus of 125 acres consisting of 283 independent living units, 79 assisted living units, 32 memory care units and 100 skilled nursing beds (32 of which are... Read More »Regional Owner/Operator Secures Acquisition Financing
Andrew Lanzaro of Berkadia Seniors Housing & Healthcare arranged a $24.75 million bridge financing for the acquisition of a 140 unit seniors housing community in Ocean Springs, Mississippi, on behalf of a Memphis-based repeat client. The purchase represented the buyer’s 10th community in Mississippi and was funded with 1031 exchange equity. The bridge loan was sized to 75% of the purchase price and features a 24-month, interest-only term with one six-month extension option. Berkadia intends to refinance the community with a HUD 232/223(f) loan. The regional owner/operator buyer paid $33 million, or $235,700 per unit, for the community. Built in phases from 2019 to... Read More »Brookdale Boosts Short Term Stability
Brookdale Senior Living completed a series of financing transactions totaling approximately $600 million that refinanced all of its remaining 2026 mortgage debt and maturities, around $350 million, and a portion of 2027 mortgage debt maturities, approximately $200 million. The company also secured more fixed-rate debt, helping to cut rate risk. Even with some variable-rate debt, the overall blended rate has not changed much, with yearly interest expense staying roughly the same. This is beneficial for balance sheet stability, even if it didn’t actually reduce total debt or annual net interest expense, and some refinancing risk just got pushed to 2027. A smart move for near-term... Read More »Ikaria Announces $1 Billion in Q4 Volume
Ikaria Capital Group closed out a successful 2025, announcing several significant transactions in the fourth quarter that exceeded $1 billion in volume. The activity comprises financings in the seniors housing, skilled nursing and behavioral health sectors across multiple states and borrowers. The largest deal was a $595.5 million senior secured credit facility structured on behalf of a private owner of 18 SNFs with 1,794 total beds in West Virginia. The facility included $491.5 million in bank financing led by Ally Corporate Finance’s Healthcare Capital team and $104 million in subordinate debt provided by CareTrust REIT, an existing institutional capital partner of Ikaria’s. It... Read More »PE Group Enters Oklahoma after Medicaid Rate Bump
A skilled nursing facility in Oklahoma that recently benefited from the state’s Medicaid rate bump sold to a national private equity firm looking to enter the state. Built in 1967, Maplewood Care Center features 180 beds on over three acres in Tulsa. It is located close to several major hospitals and healthcare campuses, but occupancy was sitting at 60%. However, after the state increased Medicaid funding, effective July 1, 2024, the facility saw its rate go from $233.03 to $250.78 per resident day. That increase plus sustained occupancy growth significantly strengthened the facility’s financial performance in the last 18 months. Looking at the financials for the facility in the first... Read More »Schedule a demo
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