Two active investors in the seniors housing M&A market worked with BMO Harris Bank’s Commercial Real Estate Healthcare group to close acquisition financing for two of their latest purchases. First up, Kayne Anderson received $34.6 million in financing to acquire and expand a 135-unit senior living community in Melbourne, Florida. The property was built in 2012 to feature 47 independent living, 54 assisted living and 34 memory care units. It was 97% occupied, and sold for $45.5 million, or $337,037 per unit. And second, BMO closed over $40 million of acquisition financing for ROC Seniors Housing Fund Manager to acquire two just-built assisted living/memory care communities in New York. The properties are managed by Atria Senior Living. BMO acted as sole lender for both transactions.
Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
