Brookdale Divests California Community to Public REIT
Blueprint was engaged by an institutional, national owner/operator in the strategic disposition of a large rental CCRC in Bakersfield, California. The 20-acre campus was developed in 1999 and provides the whole continuum of care, including independent living, assisted living, memory care and skilled nursing across three large buildings and several IL villas. It also underwent several updates and upgrades over the years. Occupancy was approaching stabilized levels during the marketing process, and the campus operated efficiently and produced positively trending cash flow. Based on the community’s description, it appears to be Bayshire Riverwalk Senior Living and was previously owned... Read More »
Two Midwest Assets Trade
A couple of seniors housing communities traded in the Midwest, selling to a couple of growing owner/operators. First, in the Indianapolis area, The Kiser Group’s Mark Myers and SVN | Senior Living Advisors’ John Klement led the sale of a 157-unit seniors housing community featuring a mix of independent living, assisted living and memory care services, with 164 licensed beds. The community was built around 15 years ago and was producing positive cash flow. A regional owner/operator seeking to expand its footprint throughout the Midwest ultimately bought the asset for an undisclosed price. Myers then sold an 80-unit assisted living community in central Illinois for $23 million, or $287,000... Read More »
Assisted Living Portfolio Closes in Wisconsin
Bob Richards of Senior Care Realty recently completed the sale of a five-property assisted living portfolio in Wisconsin, closing the deal in multiple tranches. Richards had worked with the seller, AC Capital, for 15 years, helping them grow their portfolio over the years. AC Capital also has self-managed the communities for the last decade. Now, the investor group wished to exit the industry altogether. The first group of properties sold in the second half of 2025, featuring a 15-bed assisted living community south of Madison, a nine-unit CBRF in Milwaukee and the real estate of a 22-bed assisted living campus in Neenah. All operated well, with occupancy in the low-90s. The two larger... Read More »60 Seconds with Swett: Here We Go Again
AARP just published a report on assisted living, and all I can say is, here we go again. It concludes that “the state of assisted living today is cause for concern for many stakeholders. The lack of national federal standards for care centers creates an underregulated space.” It continues on, stating that the “absence of national oversight, standards, and definitions results in a patchwork of inconsistent state policies forming the national landscape of assisted living.” The report also mentions that affordability is a growing problem, and we could not agree more. However, as we saw in the nursing home industry, when you start to over-regulate, with national staffing standards and rules,... Read More »
Two Seniors Housing Sales Close
Senior Living Investment Brokerage is continuing on its hot streak this month, closing two additional deals in Alabama and Florida. In the Alabama transaction, Dan Geraghty and Brad Clousing represented a large national owner/operator that was resizing its portfolio to concentrate on its core market. So, the company divested an assisted living/memory care community that is situated on six acres with 128,706 square feet in the Birmingham MSA. The asset was built in 1998 and underwent an extensive remodel in 2016. It presents well, and comprises 85 AL and 22 MC units. The marketing process attracted strong buyer interest and multiple qualified offers, with a buyer new to seniors housing... Read More »
Selectis Health Exits Georgia
Selectis Health, Inc. has completed its exit from Georgia with the help of Michael Segal and Daniel Waldhorn of Blueprint. In the beginning of the year, Selectis Health divested Providence of Sparta Health and Rehab and Warrenton Health and Rehab to Journey, also with the help of Segal and Waldhorn (more on that deal can be found here). The company again engaged Blueprint to handle the sale of its remaining two skilled nursing facilities in central Georgia. The two assets, Glen Eagle Healthcare and Rehab and Eastman Healthcare & Rehab, sit less than 30 miles apart in Abbeville and Eastman and total 201 beds. The buildings were initially constructed around 1960, but were recently... Read More »
Joint Venture Divests Third Class-A Asset
Caddis Partners and Singerman Real Estate have divested another seniors housing community, Heartis Fayetteville. This comes shortly after the joint venture’s sale of Heartis Venice and Heartis Longview. Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare represented the seller in all three transactions. Heartis Fayetteville is a 167-unit, Class-A asset in the Atlanta, Georgia MSA, that offers independent living, assisted living and memory care services. The marketing process was highly competitive, with Capitol Seniors Housing selected as the ultimate buyer. The company will rebrand the community as Village Park Fayetteville and bring... Read More »
Bonds Issued for Independent Living Expansion
Ziegler closed John Knox Village’s $47.85 million Series 2026A, B-1, B-2 and B-3 bonds issued through the City of Lee’s Summit, Missouri. John Knox Village (JKV), a Missouri not-for-profit corporation, is a CCRC consisting of 1,038 independent living units, 180 assisted living units and 121 skilled nursing beds. This transaction marks JKV’s seventh financing with Ziegler since 2007. The Series 2026 bonds consist of four tranches of tax-exempt debt: Series 2026A Fixed Rate bonds ($18.85 million), Series 2026B-3 TEMPSSM-50 ($17.05 million), Series 2026B-2 TEMPSSM-70 ($6.83 million) and the Series 2026B-1 TEMPSSM-85 ($5.13 million). Proceeds, along with a $500,000 equity contribution... Read More »
California AL/MC Community Secures C-PACE Financing
The owner of a seniors housing community in Simi Valley, California, was evaluating a recapitalization of the asset and worked with Bayview to secure C-PACE financing. The borrower wished to return some equity for future investments while also reducing existing bridge debt. Bayview identified an opportunity to structure a look-back C-PACE loan against approximately $13 million of eligible costs, generating accretive proceeds that supported both sponsor liquidity and paydown of the existing bridge facility (without displacing senior debt). The loan came with a 29-year term and closed approximately six weeks after term sheet execution. Varenita of Simi Valley has been operated by... Read More »
Bond Proceeds to Fund California Seniors Housing Development
JLL and HJ Sims arranged $252.1 million in tax-exempt and taxable bond financing for the development of The Marisol, a 214-unit seniors housing community in Huntington Beach, California. It is currently under construction and set to open in 2028. HJ Sims acted as lead book-running manager on the senior bonds and JLL Securities served as co-manager and led the process in securing the investor for the subordinate bonds. JLL’s Senior Housing Capital Markets team, as real estate advisor, also collaborated on the project. The fixed- and floating-rate financing was structured into Series A senior bonds and subordinate Series B and C bonds, and was issued through the California Public Finance... Read More »Schedule a demo
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