• New Perspective Accelerates Growth Mode

    New Perspective Senior Living, a fast-growing senior living company with 40 communities across eight states, secured more than $200 million in bridge debt, preferred equity and common equity with its partners, BMO Commercial Real Estate, Fengate and Boldt, to facilitate the acquisition and financing of six senior living communities with over 800... Read More »
  • Helios Handles (and Helps Finance) Alabama Deal

    Helios Healthcare Advisors was engaged by a Mississippi-based regional owner/operator in its sale of an assisted living and memory care community in Alabama. The seller, Veritas InCare, was divesting to exit the industry. The selected buyer was a local owner/operator. Andrew Wittenauer, Mario Santiago and Bill Janis of Helios handled the... Read More »
  • Joint Venture Buyer Purchases Vermont Senior Living Portfolio

    CBRE arranged the sale of a portfolio of three seniors housing communities in Vermont. The three communities, The Residence at Shelburne Bay, The Residence at Quarry Hill and The Residence at Otter Creek, comprise 423 units of independent living, assisted living and memory care. The seller, a joint venture between Virtus Real Estate Capital and... Read More »
  • Investment Firm Acquires in Minnesota

    JLL Capital Markets arranged the sale and financing, secured through Freddie Mac, for a Section 8, affordable seniors housing community in Stillwater, Minnesota. Rivertown Commons features 96 units across seven stories with 55,800 total square feet. JLL worked on behalf of the seller, Dominium Management, and procured the buyer, a mission-first... Read More »
  • Foundry Commercial Adds New Hire

    Foundry Commercial announced the addition of John Reinsma as Deal Principal for its Healthcare business within the Development & Investments platform. In his role, Reinsma, who has spent nearly 20 years in the senior living industry, will lead the development and acquisition strategies and investment initiatives for Foundry’s senior living... Read More »
New Perspective Accelerates Growth Mode

New Perspective Accelerates Growth Mode

New Perspective Senior Living, a fast-growing senior living company with 40 communities across eight states, secured more than $200 million in bridge debt, preferred equity and common equity with its partners, BMO Commercial Real Estate, Fengate and Boldt, to facilitate the acquisition and financing of six senior living communities with over 800 combined units. The joint venture has established a programmatic relationship to pursue $500 million in future acquisitions and developments. One of the senior living communities is situated in West Fargo, North Dakota. Four others are in Wisconsin, encompassing the areas of Sun Prairie, Brown Deer, Franklin and Waukesha. The sixth community is in... Read More »
Helios Handles (and Helps Finance) Alabama Deal

Helios Handles (and Helps Finance) Alabama Deal

Helios Healthcare Advisors was engaged by a Mississippi-based regional owner/operator in its sale of an assisted living and memory care community in Alabama. The seller, Veritas InCare, was divesting to exit the industry. The selected buyer was a local owner/operator. Andrew Wittenauer, Mario Santiago and Bill Janis of Helios handled the transaction. Despite the community’s strong performance, dislocation in the debt markets and low liquidity impacted the buyer’s ability to utilize its existing lending relationships to fund the purchase. So, Helios structured a financing package with a regional lender that recapitalized the buyer’s existing community to unlock equity, while simultaneously... Read More »
Joint Venture Buyer Purchases Vermont Senior Living Portfolio

Joint Venture Buyer Purchases Vermont Senior Living Portfolio

CBRE arranged the sale of a portfolio of three seniors housing communities in Vermont. The three communities, The Residence at Shelburne Bay, The Residence at Quarry Hill and The Residence at Otter Creek, comprise 423 units of independent living, assisted living and memory care. The seller, a joint venture between Virtus Real Estate Capital and LCB Senior Living, was represented by the CBRE National Senior Housing Investment Sales team led by John Sweeny, Aron Will and Garrett Sacco. The buyer was a joint venture between an undisclosed REIT and LCB, which will continue to operate the portfolio. Read More »
Investment Firm Acquires in Minnesota

Investment Firm Acquires in Minnesota

JLL Capital Markets arranged the sale and financing, secured through Freddie Mac, for a Section 8, affordable seniors housing community in Stillwater, Minnesota. Rivertown Commons features 96 units across seven stories with 55,800 total square feet. JLL worked on behalf of the seller, Dominium Management, and procured the buyer, a mission-first investment firm that specializes in affordable and workforce housing. The buyer intends to invest additional capital to refresh the units and common areas in addition to extending the existing affordability restrictions. The JLL Investment Sales and Advisory team was led by Managing Director Josh Talberg and Senior Managing Director Doug Childers.... Read More »
Foundry Commercial Adds New Hire

Foundry Commercial Adds New Hire

Foundry Commercial announced the addition of John Reinsma as Deal Principal for its Healthcare business within the Development & Investments platform. In his role, Reinsma, who has spent nearly 20 years in the senior living industry, will lead the development and acquisition strategies and investment initiatives for Foundry’s senior living platform, which encompasses 57 senior living communities with more than 3,700 units nationwide. Foundry Commercial’s senior living platform specializes in the development, acquisition and asset management of seniors housing communities throughout the country. Having entered the senior living sector in 2020, it has positioned its platform to... Read More »
PGIM Acquiring Signature Senior Lifestyle 

PGIM Acquiring Signature Senior Lifestyle 

In its first seniors housing acquisition since 2022, according to publicly disclosed deals in LevinPro LTC, PGIM Real Estate is acquiring the real estate and operations of Signature Senior Lifestyle, an owner/operator/developer of seniors housing in the United Kingdom, subject to finalization. The acquisition was made on behalf of PGIM’s European value-add strategy, in partnership with Elevation Advisors LLP to source, structure and execute the transaction and asset manage the portfolio. The transaction is expected to close by the end of H1 2024. The Signature portfolio consists of 13 senior living communities, comprising 10 operating properties and three consented development projects in... Read More »
REIT Divests Distressed Community in Meridian, Idaho

REIT Divests Distressed Community in Meridian, Idaho

Senior Living Investment Brokerage leveraged an auction process on behalf of a REIT selling a seniors housing community in Meridian, Idaho. The REIT is divesting to exit operations in the state. The buyer is an Idaho-based owner/operator expanding its footprint in the state.  Built in 1969 and remodeled in 2013, Copper Springs Senior Living features 95 units and 105 beds of assisted living and memory care. The community sits on 4.99 acres and comprises 49,664 square feet. Occupancy was 75% at the time of closing, but the community was losing around $670,000 in EBITDAR on revenues of $3.74 million. Vince Viverito, Jason Punzel, Brad Goodsell and Jake Anderson handled the transaction,... Read More »
Rebirth of Vacant Pennsylvania AL Community

Rebirth of Vacant Pennsylvania AL Community

The Prestige Group facilitated the sale of a vacant seniors housing community in Milford, Pennsylvania. In the early 1980s a local real estate entrepreneur purchased a former Milford high school and repositioned it to a 220-bed assisted living community. The building was equipped with an auditorium plus a full stage, and the entrepreneur decided to run a theater company through the community. The productions were open to the public, introducing people to the community. Rockwell Center was run by the founder for 40 years and then his family after his death. The family eventually moved from the area, divesting their local Milton area assets, except for this community. In June 2023, the... Read More »
60 Seconds with Swett: CCRCs Lead the Occupancy Recovery

60 Seconds with Swett: CCRCs Lead the Occupancy Recovery

The CCRC market continues to lead all other sectors in its occupancy recovery, post-pandemic. Yes, we are talking about a smaller market, and many of these communities tend to be higher-end, luxury properties mostly in primary markets that have generally demonstrated better resilience in recent years. But the sector has not always been the bright spot in seniors housing, especially after the Great Financial Crisis, so this is new territory. Ziegler and NIC MAP partnered on a report detailing the occupancy gains in each CCRC segment for more than 1,160 CCRCs, including not-for-profit and for-profit, plus entrance-fee and rentals in 140 MSAs. Independent living was the highest, averaging... Read More »
Kauhale Health Acquires in South Carolina

Kauhale Health Acquires in South Carolina

Kauhale Health, a Midwest-based firm, announced its second acquisition in seniors housing with a deal in Greenville, South Carolina. Built in 2001, The Parker, comprising 66,765 square feet across 3.5 acres, features 74 assisted living and 17 memory care units. Within the past three years the common areas and more than one third of the units have been renovated and remodeled.  Blueprint handled the divestment of The Parker in 2020, when an undisclosed private investor acquired the community. Leadership turnover in a very competitive market led to declining performance between 2016 and 2017 before the community started to rebound in 2018. Cash flow continued to decline during Blueprint’s... Read More »
Ahava Healthcare Purchases in Tennessee

Ahava Healthcare Purchases in Tennessee

Evans Senior Investments was brought on by Henry County in its divestment of a skilled nursing facility in Paris, Tennessee. Built in 2001, Henry County Healthcare Center comprises 136 beds across five acres. At the time of marketing, it was 43% occupied and cash-flow negative. Since the pandemic, the facility has consistently remained in the 40% to 50% occupancy level month over month.  Although the pandemic played a part, the primary issue has been the community’s low staffing levels, which frequently led to rejecting admissions. The facility also struggled to achieve industry-standard profitability due to it being the sole skilled nursing facility operated by Henry County Medical... Read More »