No stranger to big senior living projects, Big Rock Partners (BRP) announced it will be building its second senior living community in Palm Beach County, Florida, at an estimated cost of $150 million, or over $530,000 per unit. BRP kicked it off with the $9 million acquisition of a 15-acre site in Delray Beach, where […]
An assisted living community in West Palm Beach, Florida is getting renovated and repositioned thanks to financing provided by Israel Discount Bank of New York (IDB Bank). Lisa Silvers structured the $11.0 million loan to also include a future advance of $2 million upon completion of the renovation and subsequent stabilization. With the financing, the […]
A high-end active adult community located in an affluent Denver, Colorado suburb successfully refinanced with the help of Leon McBroom of HFF. Working through Freddie Mac’s CME Program, Mr. McBroom secured $21.4 million in 10-year fixed-rate financing, which will be serviced by HFF. The property was developed in 2014 by McBroom Company and managed by […]
Jason Dopoulos of Lancaster Pollard secured construction financing through HUD on behalf of Sunshine Retirement Living to expand its presence in southern California. Already with two senior living communities in the San Diego area, the Oregon-based Sunshine, along with Welbrook Senior Living, is working on building its first in the Los Angeles MSA. The Fountain […]
On December 6, 2018, we hosted the webinar “Bridge Loans: The Hottest Lending Product for Seniors Housing & Care.” In the wide-ranging 90-minute discussion, our panelists touched on some of the key details anyone interested in obtaining bridge financing should know. Here they are, exclusively for The SeniorCare Investor subscribers:
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!