• Unique Upstate NY Community Changes Hands

    An independent living community with Enriched Housing Program beds sold in western New York for $4.0 million with the help of Dave Balow and Vince Viverito of Senior Living Investment Brokerage. The Enriched Housing Program (EHP) is a unique designation in New York State, appealing to a wider pool of potential residents than IL alone.  Built... Read More »
  • West Coast-Based Investor Acquires in Kentucky

    The Bluegrass Assisted Living Portfolio, which comprises two performing seniors housing communities, sold to a West Coast-based investor. Located approximately 30 miles apart in Bardstown and Elizabethtown, Kentucky, the assets offer assisted living and memory care services. They will be managed by an operator with an existing presence in the... Read More »
  • Investor Group Acquires in Oregon

    Silver Wave Capital announced its fourth acquisition in the last 12 months, picking up a new seniors housing community in a suburb of Portland, Oregon. The firm, founded by Cory Wake and Elan Ruggill in 2024, made the acquisition with Sherman Capital Partners as a co-GP and another capital partner.  Built in 2019, the Class-A community is... Read More »
  • Private Company Acquires Struggling Skilled Nursing Facility

    Todd Okum and Nick Martinez of O&M Investments have acquired their seventh skilled nursing facility of the year. Built around 1985, the facility comprises 120 beds and sits west of Palm Beach County, Florida. The seller was a not-for-profit organization, with this divestment marking its exit from the skilled nursing sector, as it sold the... Read More »
  • Alta Senior Living Obtains Refinance for Tampa Asset

    Kristen Ahrens and Pat Maloney of Blueprint facilitated the refinance of The Legacy at Highwoods Preserve. Built in 2015, the 68,281-square-foot building comprises 60 assisted living and 22 memory care units on 9.9 acres in Tampa, Florida. The borrower is a well-established owner/operator with a presence in Florida. Blueprint Capital Markets ran... Read More »
60 Seconds with Swett: Will Q4 Set Records?

60 Seconds with Swett: Will Q4 Set Records?

Happy fourth quarter everybody, and it should be a record-breaking one with all of the transaction pipelines we are aware of. Of course, deals have to close, and some will inevitably be kicked to Q1. But there is enough optimism among buyers, lenders, operators and certainly the brokers that dealmaking activity should hit new heights in the coming months.  We are already at a record-breaking M&A volume in 2025, with a sensational summer culminating in September hitting a 2025 monthly high with 70 deals announced, and counting. Only two other months have ever surpassed 70 deals, and they were in 2024. On an annualized basis, we would hit 840 deals at that level. And based on the... Read More »
60 Seconds with Steve Monroe: The Future of Seniors Housing

60 Seconds with Steve Monroe: The Future of Seniors Housing

Five years ago, at the onset of the COVID pandemic, I wrote a long white paper on the future of seniors housing based on what was happening in the Spring of 2020. The future was questionable. Now, five years later, it seems as if nothing has changed, and everything has changed. I had to miss my first Fall NIC in 35 years, but I heard there was a lot of talk about the future and what may happen, and that the “feel” today was much like the post-recession years of 2013 to 2017. Everything looking up, values rising, investors jumping in, sentiment at a recent peak, lenders very competitive, and so on. The only thing missing today compared with back then is the lack of new development. So,... Read More »
60 Seconds with Swett: Will Q4 Set Records?

60 Seconds with Swett: Getting Realistic with New Development

The positive mood at the NIC Fall Conference was contagious, as dealmakers were looking forward to a potential record-breaking fourth quarter. We at LevinPro are also gearing up to cover a new elevated level of M&A activity and pricing in the coming months, with our updated valuation tool better accounting for today’s market and the estimated prices for higher-quality, better-performing properties. But one disappointment from the conference may have been the conversation surrounding new development, particularly building for the middle market. We don’t fault anyone for being constrained by the simple math of the cost to build and the rents needed to cover those costs. If anything, the... Read More »
60 Seconds with Swett: Will Q4 Set Records?

60 Seconds with Swett: Heading Down to Austin

We are looking forward to flyin’ down to Austin next week for the NIC Fall Conference, as we are anticipating a very positive mood among the attendees. That is because M&A activity is high and healthy. The capital markets keep improving from a deal terms and liquidity perspective. The promise of a 25-basis point interest rate cut is probably boosting spirits more than actually making much of a financial impact on the cost of borrowing.  Meanwhile the operating environment continues to make steady progress, and property values are on the rise, at least according to our latest valuation stats available on LevinPro LTC, which could entice more sellers into the market with their... Read More »
60 Seconds with Swett: Will Q4 Set Records?

60 Seconds with Swett: An Update to Our Valuation Statistics

The deal dynamics of 2025 appear to have changed very little, with a majority of transactions featuring value-add properties, a slowly increasing share of stabilized, Class-A properties being sold, steady improvements to the capital markets and liquidity and cap rates that have moved only slightly downwards. Taking all of those factors into account, we would expect values, both apples to apples and on an average basis, to have risen in 2025, so far. We will be presenting our latest valuation statistics, derived from our proprietary LevinPro LTC data, in our August 28th webinar, titled A Mid-Year Valuation Stats Update, sponsored by HealthTrust. Plus, our three expert panelists will be... Read More »
60 Seconds with Swett: Will Q4 Set Records?

60 Seconds with Swett: SNFs Get a Boost from CMS

Support for the skilled nursing sector continues to flow from the government, both state and federal, and CMS finalized its FY2026 SNF Prospective Payment System rate increase of 3.2%, based on the final SNF market basket increase of 3.3% plus a 0.6% market basket forecast error adjustment and a negative 0.7% productivity adjustment, amounting to an increase in SNF PPS payments of $1.16 billion compared with FY2025. That is down from the 4.2% increase in reimbursement from the previous fiscal year but up from CMS’s initial proposed increase of 2.8%, announced back in April. And it comes after numerous states have already started to reconcile their Medicaid rates more closely with the... Read More »