Another Publicly Traded REIT Joins the M&A Mix
Another well-capitalized institutional player is stepping into the seniors housing fray, adding fuel to an already aggressive bidding environment. And based on its initial acquisitions, with one closed at more than $1 million per unit, the target seems to be high-quality assets. Prices are rising fast in that segment, and as the buyer pool continues to grow (especially with new entrants that are well-capitalized), that upward pressure should continue. Chiron Real Estate Inc. (formerly known as Global Medical REIT) is a REIT that acquires healthcare facilities and leases them to physician groups and regional and national healthcare systems, announced purchase agreements for three... Read More »
Distressed AL/MC Community Gets New Owner
Scott Frazier, Kory Buzin and Steve Thomes of Blueprint advised a special servicer in the seniors housing sector on the sale of Spanish Vines, a well-maintained assisted living/memory care community. It sits in a densely populated Pocket-Greenhaven neighborhood of southwest Sacramento, California. The 88-unit community was generating negative EBITDAR across all trailing periods, with month-over-month census, RevPOR and expenses fluctuating materially as operations worked towards stabilization. The asset benefitted from its infill location and recently renovated physical plant. Blueprint also underwrote an alternative path to upside through California’s Assisted Living Waiver program,... Read More »
Underperforming Community Sells and Secures Financing
A buyer recently acquired an underperforming seniors housing community in Charleston, South Carolina, and Blueprint Capital Markets secured the debt financing. Blueprint also represented the undisclosed seller in its divestment. The asset comprises 84 units of assisted living and memory care. There is room for occupancy growth and expense cuts, which will help drive operational performance. Kristen Ahrens and Pat Maloney arranged the financing, targeting private credit lenders for their structural flexibility and certainty of execution. Read More »
Standalone MC Communities Secure Acquisition Financing
Berkadia recently announced three financings on behalf of three different sponsors. In one of the closings, Steve Muth and Ed Williams arranged $25.8 million in acquisition financing for Peregrine Senior Living at Clifton Park and Peregrine Senior Living at Orchard Park. The bridge financing was provided through Berkadia’s Proprietary Lending Group on behalf of KCB Real Estate Management and Tunbridge Peak. The loans feature a 24-month interest-only term with one 12-month extension option, and Berkadia expects to submit the properties to HUD in the coming weeks, with a targeted HUD takeout in the fourth quarter. Jacob Gehl, Dillon Rudy, Connor Doherty and Ryan Kelly of Blueprint... Read More »
A Flurry of Deals Cross the Finish Line
As part of Senior Living Investment Brokerage’s nine separate closings at the start of May, there were a couple of skilled nursing sales. First, Nick Cacciabando and Matthew Alley represented a local group of investors in the sale of a 60-bed skilled nursing facility in Ottumwa, Iowa. The investor group operated the facility themselves, and it was 95% occupied with a solid 12% margin on $6.715 million of revenues. Vista Woods Care Center was built in 1993 and is one of the newer facilities in southeast Iowa. It also held a CCRC license in relation to an adjacent seniors housing community. Emerging from an active bidding environment was a California-based investor, which paid $6.35... Read More »
Investor Group Buys Naples Community
A group of investors picked up a value-add seniors housing community in Naples, Florida. Built in 1999, North Haven Senior Living features 132 units of assisted living and memory care. It appears that Brookdale Senior Living previously operated the community, which showed very well and did not require much in terms of capex. We understand that occupancy improved significantly during the sale process, as well. Silver Wave Capital announced the purchase (its sixth overall), along with lead investor Persimmon Ventures and operating partner Senior Living Asset Management, which will take over management of the community. Ten other seniors housing investors participated in the deal, including... Read More »
Brookdale’s Uneven Recovery
Brookdale Senior Living has been going through some major changes in the last year, so naturally its recovery could be a little uneven, with the hope of more long-term growth and stability. They have a new CEO, COO and a new operational structure, in addition to exiting more than 100 communities in the last year. But the mixed bag of results can be frustrating from shareholders’ point of view, especially as they see a disconnect between Brookdale’s anemic performance and headlines on strong sector fundamentals, healthy and rising occupancy levels across the sector and in most Brookdale markets, and appealing opportunities for growth. Plus, it is on top of many years of underperformance to... Read More »
Two Public REITs Continue Their SHOP Push
Two public REITs honing in on the seniors housing sphere have announced their first quarter earnings results. LTC Properties reiterated its commitment to seniors housing again, and Janus Living, Healthpeak Properties’ spin-off REIT that debuted in the public markets in March, is already showing momentum. First, after completing seniors housing acquisitions and conversions of nearly $570 million in 2025, LTC Properties invested $108 million in SHOP acquisitions during the first quarter of 2026. Subsequent to quarter end, LTC Properties deployed $9 million in SHOP acquisitions, and an additional $250 million is anticipated to close in the second quarter. In the first quarter, the... Read More »
Tennessee Assisted Living Community Sells
Andrew Montgomery of Montgomery Intermediary Group recently sold an assisted living community in eastern Tennessee. Built in the late 1990s, the building featured more than 40 units, plus some houses on its campus. There was some additional acreage, as well. It was sold by one out-of-state owner to another, but the buyer has another assisted living community nearby in western Virginia. There were several local and regional groups that showed interest in the deal, which ultimately closed on May 1. No other details were disclosed. The closing comes on the heels of a bank financing closed by MIG’s Jeremy Warren and a new hire for the firm. Colin Thomas, CFA joined MIG as an investment sales... Read More »
SNF Portfolio Trades Following Strong Bidding Environment
A regional operator looking to recycle capital divested a portfolio of four skilled nursing facilities in Florida. There were a total of 460 functional beds, and they were spread across Rockledge, Naples, Venice and Sarasota. Evans Senior Investments handled the deal. The portfolio generated approximately $46 million in total annualized revenue and maintained a healthy 83% occupancy, while still offering upside potential. ESI identified that nearby competitors were capturing a large share of the local Medicare volume and provided a blueprint for a new operator to strengthen hospital referral relationships and drive the Medicare census from 40 to 58 patients per day. ESI also... Read More »Schedule a demo
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