Dwight Mortgage Trust Finances Bridge Loan
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, financed an $80 million bridge loan to facilitate the acquisition of a five-property skilled nursing portfolio located throughout central Florida. These facilities comprise a total of 518 beds and were 88% occupied. In conjunction with the 30-month bridge loan (which has a six-month extension option), Dwight Healthcare Funding provided a $12 million working capital line of credit to support the portfolio’s ongoing operational needs. This transaction was originated by Josh Sturm, Managing Director of Senior Housing and Healthcare. Read More »
Heritage Pointe Acquires Ohio CCRC
A long-term family owner/operator of a CCRC in Maumee, Ohio, decided to sell their only asset, but only to the right buyer. Ben Bohland and Collin Hempfling of Senwell Senior Investment Advisors handled the process (which also involved multiple advisors, attorneys and banking partners), which saw an active bidding environment and eight total offers. The seller, who was entering retirement, was determined to find a buyer with similar values committed to preserving the campus’ reputation and culture of care. Established in 1949, Elizabeth Scott Community had been in the seller’s family for 75 years. It spans 51 acres and offers 60 skilled nursing beds, 47 independent living/assisted... Read More »
Institutional Buyer Acquires in the Tampa MSA
The Knapp-Stahler Group of Institutional Property Advisors sold a seniors housing asset on behalf of an institutional investor. Located in the Tampa, Florida MSA, the community has 132 units of assisted living and memory care and demonstrated strong operational performance. It appears to be American House Zephyrhills, which was built around 2009. The marketing process generated strong interest from investors. Ultimately, an institutional buyer acquired the asset and retained the existing management team ensuring continuity for residents and staff. Justin Knapp and Nick Stahler handled the transaction. Read More »
Stellar Senior Living Enters Montana
Stellar Senior Living, a senior care owner/operator in the western United States, acquired the operations of two seniors housing communities in Montana. This marks Stellar’s entry into the Montana market. Built in 1997, Helena Pointe is in Helena with 116 independent living units, and Missoula Valley in Missoula comprises 101 assisted living and memory care units. Stellar’s mission is to serve 10,000 seniors by 2030, and with this expansion Stellar now operates 37 senior care communities across nine states, providing a range of services including independent living, assisted living, memory care and skilled nursing. Read More »
Active Adult Community Secures Construction Financing
Berkadia announced the construction financing of Mera Lawrenceville, a 200-unit active adult community in Lawrenceville, Georgia. Austin Sacco, Steve Muth and Garrett Sacco secured the construction financing through Texas Capital Bank on behalf of a joint venture sponsored by Sparrow Capital Partners. The community, 30 miles northeast of downtown Atlanta, is located in a master planned, by-right site in a high-barrier-to-entry market and is in close proximity to Primary Care Center of Georgia, multifamily homes and retail. Read More »
Public Finance Authority Issues Bonds to Finance AL/MC Community
Wisconsin-based Public Finance Authority plans to issue $132.4 million in bonds to finance a retirement community in Potomac, Maryland. The revenue bonds will finance the acquisition, construction and outfitting of the ISF – Potomac Senior Living rental retirement community. The project will feature approximately 68 assisted living units and 26 memory care beds. Proceeds from the bond sale will also be used to fund a debt service reserve, capitalized interest for about 31 months and cover working capital and issuance costs. The offering is structured in two tranches: $128.4 million in Senior Series 2025A bonds, which are tax-exempt, and $4 million in Senior Series 2025B bonds,... Read More »
60 Seconds with Swett: The Republican Budget and Medicaid Cuts
There will be significant political interest in what happens to Medicaid funding as Republicans work to pass a budget and tax bill with their very slim majority. Touching entitlements remains politically risky, and the party is divided on whether any Medicaid cuts would be acceptable heading into an election cycle. At this stage, per-capita caps on federal Medicaid payments to states do not appear to be under serious consideration. However, even without direct federal cuts, rulemaking changes could materially affect Medicaid-dependent providers. CMS has issued a proposed rule that aims to close what it describes as a Medicaid “tax loophole” that some states have used to inflate federal... Read More »
Sonida Senior Living Continues Upward Trend
We are at the end of the first quarter 2025 earning roll call, and Sonida Senior Living posted another solid quarter. Weighted average occupancy for its same-community portfolio (56 communities) increased by 100 basis points year over year to 86.8%, which is at the top end of many of its competitors. In addition, same-community RevPOR increased by 5.5% to $4,274 year over year, same-community net operating income increased by 19.3% to $16.1 million, and the same-community operating margin jumped by 280 basis points to 27.6%. On a sequential basis, RevPOR increased by 1.8%, same-community net operating income increased by 4.5%, and same-community net operating margin jumped by 80... Read More »
Regional Owner/Operator Purchases Turnaround SNF
Evans Senior Investments was engaged by a regional owner in a partnership with the University of Michigan Health-West Hospital to facilitate the sale of a skilled nursing facility in Wyoming, Michigan. Opened nearly 10 years ago, Healthbridge Post Acute comprises 65 beds and was experiencing operational challenges, including an annual net operating income loss exceeding $1 million. Recognizing significant upside potential on both the revenue and expense side, ESI implemented a competitive two-week marketing process, which generated substantial interest. A regional owner/operator whose capabilities align with the seller’s long-term objectives was selected as the buyer, for an... Read More »
Family Owner Divests CCRC to Not-For-Profit
Senwell Senior Investment Advisors sold a family-owned/operated CCRC in Maumee, Ohio, to a not-for-profit organization. The community had been in the seller’s family for 75 years, but they are divesting to enter retirement. Established in 1949, Elizabeth Scott Community spans 51 acres and offers independent living, assisted living, memory care and skilled nursing services. The seller was seeking a buyer with similar values committed to preserving the campus’ reputation and culture of care. Senwell generated eight qualified offers, resulting in a mission-driven CCRC operator from Indiana known for its strong track record and like-minded philosophy of care. The process involved... Read More »Schedule a demo
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