• Public REIT Divests Two Georgia AL/MC Communities

    by | May 24, 2024 11:26 am | Acquisitions

    Berkadia was engaged in the sale of two assisted living and memory care communities in the Atlanta, Georgia MSA. The communities are located in Atlanta and Marietta and total 146 units. The seller was a publicly traded REIT. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders handled the transaction. No additional details were... Read More »

  • Missouri-Based Provider Acquires SNF Portfolio (with HUD debt)

    by | May 24, 2024 9:09 am | Acquisitions

    Blueprint was engaged by Birchwood Healthcare Partners, a Chicago-based private investor and owner/operator, in its sale of its eastern Oklahoma skilled nursing portfolio. The regionally clustered portfolio comprises seven facilities that total 561 beds. It benefited from the recent Medicaid rate increases and steady census rebounds. There was... Read More »

  • CFG Secures Bridge-to-HUD Loan for Massachusetts SNF

    by | May 24, 2024 9:07 am | Financings

    Capital Funding Group announced the closing of a bridge-to-HUD loan totaling $9.75 million on behalf of a nationally recognized borrower. The loan supports the refinancing of a 123-bed skilled nursing facility in Massachusetts. Tim Eberhardt, Craig Casagrande and Ava Julio handled the transaction. This financing follows CFG’s announcement of the... Read More »

  • Joint Venture Acquires AL Community in Colorado

    by | May 24, 2024 9:06 am | Acquisitions

    Ziegler was engaged by Bethesda Senior Living in its sale of an assisted living community in Grand Junction, Colorado. Bethesda is divesting this non-core asset to focus on the growth of its mission. Cornerstone Management purchased the community in conjunction with a private real estate fund. Eric Johnson handled the transaction. No other... Read More »

  • 60 Seconds with Swett: M&A Activity Heats Up in May

    by | May 21, 2024 3:37 pm | 60 Seconds, Acquisitions

    We have said this before, but the seniors housing and care M&A market is on pace to record its best-ever year in terms of transaction activity, and by some margin. Already by this point in May, we are closing in on 250 transactions for the year, so far, which puts us on track for more than 600 publicly announced deals when we close out 2024.... Read More »
Media Bias Against SNFs Again

Media Bias Against SNFs Again

by | May 18, 2016 8:32 am | 60 Seconds, Opinion

The New York Times is at it again, and the reporters don’t want to do some simple math. Well, well, it looks like The New York Times is at it again. Two weeks ago it had a sensationalist story about residents “held” in nursing facilities. Last weekend, they continued on the theme of the disabled being confined in nursing facilities and ready to go home. The gist of the story was that home and community based care is what the elderly and disabled want (true), and that it is cheaper to boot (not so true). In fact, they cited Washington State as claiming that they can care for seven people at home for the cost of one person in a nursing facility. Really? The Washington Medicaid daily... Read More »
Capital One strikes twice

Capital One strikes twice

by | May 18, 2016 8:31 am | Financings

Showing off its wide array of services, Capital One announced two transactions this week across two health care sectors. First, in seniors housing, Allison Holland originated and provided a 12-year $11 million Fannie Mae loan to refinance a 72-unit assisted living community in Homosassa, Florida (about 60 miles north of Tampa). The community was built in 2009 and features a choice of studio, one- or two-bedroom units. Ms. Holland arranged the 12-year term for the borrower to take advantage of the current low interest rates. Then, in home health care, Capital One served as administrative agent and lead bookrunner for a $65 million senior secured credit facility to finance the acquisition of... Read More »

HUD grows

by | May 18, 2016 8:30 am | Financings

HUD just made things a little easier for owners of seniors housing and care properties to refinance through the HUD LEAN program. There were a couple of notable changes to the program. First, when facilitating a partner-buyout on a property and the borrower takes out a bridge loan to finance it, they can refinance that loan immediately with HUD, with certain caveats, including timelines for buyback provisions. The second notable change is a new system for determining debt seasoning. If a HUD loan is less than or equal to 60% loan-to-value (LTV), then there is no debt seasoning requirement. Between 60% LTV and 70%, there is no seasoning required as long as at least 50%of the existing bridge... Read More »

Reaching the Pinnacle…deal

by | May 17, 2016 9:02 pm | Acquisitions

Avalon Health Care Group, a Utah-based senior living company with a large presence in the West, entered the Oregon market in a big way, acquiring Pinnacle Healthcare and its 10 skilled nursing facilities in the state. Located in Corvallis, Eugene, Grants Pass, Medford, Roseburg and Woodburn, the portfolio consists of 1,108 beds and will increase Avalon’s footprint to 49 centers with 5,532 beds across seven Western states. The transaction details were not disclosed, but Avalon plans to transfer the lease agreements and begin operating the facilities in early 2017. Read More »
Transaction teamwork

Transaction teamwork

by | May 13, 2016 8:31 am | Acquisitions

Marcus & Millichap sent a veritable army into Norwood, Ohio to arrange the sale of two skilled nursing facilities. Mark Myers, Joshua Jandris and Charles Hilding, plus Stan Folk, Joel Dumes and Steve Anevski out of M&M’s Cincinnati office and Peyton Stanforth out of the Chicago O’Hare office, represented the seller, a private family investment group, in the transaction. The lease was ending for the tenant operator, which was interested in building new facilities. So, Messrs. Myers, Jandris, Hilding and Stanforth procured the buyer, a real estate investment trust with a large presence in the region that leased the facilities to a new third-party tenant. Built 25 years ago, one of... Read More »