• PE Partnership Divests to a Publicly Traded REIT

    Senior Living Investment Brokerage was brought on by a partnership in its divestment of an assisted living/memory care community in Freehold, New Jersey. The partnership was between Stephanie Anderson and Steve Walling, known as SilverStone HCRE, and a private equity group located in the west. During their ownership, NOI increased significantly,... Read More »
  • M&M Negotiates Lease, Purchase Option and Key Money

    Nick Stahler and Austin Diamond of the Knapp-Stahler Group at Marcus & Millichap facilitated a lease-with-purchase-option transaction for a dually certified, 120-bed skilled nursing facility in the Dallas-Fort Worth area. The pair was also able to negotiate $500,000 of key money from the incoming operator for the landlord, a rarity in Texas... Read More »
  • Cain Brothers Secures Refinancing for New York Asset

    Cain Brothers advised FilBen Group on a $30.67 million HUD refinancing for Wallkill Realty Partners (dba Braemar at Wallkill), an assisted living community in New York. The proceeds on the loan will be used to refinance The Orange County Funding Corporation Assisted Living Residence Revenue Bonds, Series 2012, providing a long-term, fixed-rate... Read More »
  • 60 Seconds with Swett: The Current Lending Environment for Senior Care Properties Q&A

    The higher cost and scarcity of capital has made getting just about any deal done that much more difficult, from an M&A transaction to a refinancing to a new construction project. We know that we don’t need to tell most of you that. But we also know that right now is a great time to buy, that it may be the time to commence construction, and... Read More »
  • Sonida Senior Living On The Move

    It has taken a while, and a lot had to be done to strengthen the balance sheet over the past two years, but Sonida Senior Living is now on a path of growth, and recent announcements have shown it.  On May 9, the company closed on its first acquisition of the year with the purchase of a 100-unit assisted living and memory care community in... Read More »

ISL to manage new community in Greater San Antonio

Construction has begun on The Heights at Shavano Park, a new senior care in Shavano Park, Texas, a suburb of San Antonio. When completed, the new Mediterranean-style community will have 84 units: 40 assisted living and 44 memory care. Residents will enjoy a dining room with a private dining area, a gym with equipment specifically designed for seniors, a spa and beauty salon, a theater, and a chapel. The grounds will feature an outdoor dining and barbecue area, individual gardening plots, and—given the physical and social benefits of living with a dog or cat—a dedicated pet area! Dallas-based investment-banking firm Meridian Capital LLC, a partner of Global M&A Partners, will own The... Read More »

Holland Home rehab center in Grand Rapids to expand

Holland Home plans to expand its Breton Rehabilitation and Living Centre, with groundbreaking expected in late August. The $6.5 million, privately funded expansion of the rehab center—located on Holland Home’s Breton Woods campus in Grand Rapids, Michigan—will include a new 4,560 square-foot rehabilitation center, renovation and redecoration of the existing facility, and the addition of a 13,400 square-foot, 15-bed assisted living/memory care space. The rehabilitation services expansion will quadruple the size and capacity of the existing Breton Woods campus and the capabilities of the center’s current rehab program; it will include a state-of-the-art therapy gym, physical therapy,... Read More »

Anthem Memory Care to develop multiple locations in suburban Chicago

Anthem Memory Care of Lake Oswego, Oregon, has received approval to develop a new memory-care community in the Village of Burr Ridge, Illinois—the first of several communities the company plans to bring to the suburbs of Chicago. Anthem is also under contract for two additional purchase and sale agreements in Chicagoland—one in Tinley Park and another in Glenview—and is pursuing as many as seven other locations in the area. The 40,000 square-foot Burr Ridge community, with an estimated development cost of $12 million and as yet unnamed, will accommodate up to 76 residents dealing with various levels of Alzheimer’s, dementia, and other forms of memory loss. Upon opening, the new facility is... Read More »

Thrive Senior Living breaks ground in Gainesville, Virginia

At a ceremony on June 26, Thrive Senior Living broke ground on The Tribute at Heritage Village, a 128-unit assisted living and memory-care community in Gainesville, Virginia. Located at the front entrance of Heritage Hunt, a 55+ active adult community, The Tribute at Heritage Village will feature two restaurant dining venues, a movie theater, spa, fitness center with state-of-the-art digital equipment specifically designed for seniors, and salon, as well as a doctor’s office and a telemedicine suite. A completely separate memory-care “neighborhood” will offer a secure environment for residents with Alzheimer’s and other forms of dementia; innovative programming will foster cognitive... Read More »

In San Jose, a new perspective on assisted living

An environment where residents don’t have to compromise their interests, hobbies, and beloved California lifestyle is the plan for a new assisted living project coming to San Jose, California. Plans for a “dynamic and relevant” assisted living facility in the heart of tech-savvy, innovation-loving Silicon Valley were created by BCA Architects, a design firm headquartered in San Jose, and recently received unanimous approval from the San Jose City Council and Planning Commission. Construction on the $25 million facility, as yet unnamed, will begin this fall with completion scheduled for fall 2015. So what does BCA have in mind for the new facility? “Baby boomers are, by nature, continual... Read More »