The REIT Recovery
Back in mid-February, it looked as if the world of healthcare REITs had collapsed, with no end in sight. Almost every healthcare REIT hit a new low in a span of a few days, but it has been a vastly different story in the six months since then. The average healthcare REIT stock has jumped in price by about 50% since mid-February, with a range between 27% (Care Capital Properties) and 78% (Sabra Health Care REIT). While that means the higher-yielding REITs have dropped down from double-digit yields, the range of dividend yields is still a healthy range of 4.1% to 8.5% (at least for investors). Price pressure will certainly pop up again if the Fed does increase rates next month, but no one is... Read More »
Love in Carrollton
A new independent living community is being developed in Carrollton, Texas, with the help of a $26.3 million HUD construction loan arranged by the team at Love Funding. Sitting on 5.5 acres in the Dallas-Fort Worth area, this community will feature 183 apartments and five stand-alone cottages, as well as a clubhouse and other amenities. The 40,000-member Prestonwood Baptist Church is also located across the street, which should provide a boost to occupancy. Laura Saull-Smith of Love secured the financing, which came with a 40-year term. An ownership group is behind the development, which includes principals Charlie Nicholas, Luke Harry, Steven Rumsey and Chris Willhite. Read More »Minnetonka mania
Three seniors housing developments are breaking ground this summer in the Minnetonka, Minnesota area. First, United Properties started construction on its 100-unit community, which will include 72 independent/assisted living units, 22 memory care units and six care units. Then, Oppidan Investment Company and Minnesota-based not-for-profit Ebenezer announced the expected September groundbreaking of their newest community, a 136,000-square foot, 105-unit community that will feature independent living, assisted living and memory care. Finally, The Waters plans to break ground in nearby Excelsior on its new 110-unit independent living community by the end of the year. We will see how these... Read More »
Development for Denver joint venture
A joint venture between three different parties enlisted the help of Aron Will from CBRE to help finance a to-be-built senior living community in Denver, Colorado. Blue Moon Capital Partners, MGL Partners and Leisure Care are set to break ground in September on a 163-unit independent living, assisted living and memory care community located near the heart of the Denver Tech Center. Mr. Will secured a $28.7 million, non-recourse floating rate loan, with a six-year term and 48 months of interest only, provided by a regional bank. The community is set to open in Spring 2017. Read More »Schedule a demo
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