• National Developer/Investor Divests in Florida

    Blueprint was engaged by a national developer/investor in its divestment of a value-add, but newer vintage, Class-A seniors housing community in Lake Worth Beach, Florida. As part of a broader portfolio review, the ownership group decided to divest to de-lever and conserve liquidity within the fund that held this community. Built in 2019, this... Read More »
  • Recovery Continues at Sabra Health Care REIT

    After all the earnings reports for the fourth quarter 2023, we think it is safe to say the industry really has moved on from the pandemic. Not that the lasting effects have disappeared, as they may be with us for the rest of the decade, but most everyone seems to be getting back to “normal,” although at a different pace for each one. Sabra Health... Read More »
  • Georgia Seniors Housing Community Trades

    Blueprint was brought on in the divestment of a purpose-built seniors housing community in Kennesaw, Georgia. The community was built in 1999 and comprises 37 assisted living and memory care units. We suspect this is another former Enlivant property. Kyle Hallion, Amy Sitzman and Giancarlo Riso marketed the opportunity alongside 16+ seniors... Read More »
  • Cushman & Wakefield Hires Jason Skalko

    After its entire seniors housing team left for JLL earlier in 2023, Cushman & Wakefield has started to rebuild, announcing the hire of Jason Skalko as Managing Director. Skalko comes from JLL and will be based in the firm’s Tampa office to specialize in senior living and care investment sales throughout the United States. A graduate of the... Read More »
  • 60 Seconds with Swett: Memory Care Still Commands a Premium

    We are just a couple of days away from publishing the 29th Edition of The Senior Care Acquisition Report, which is available to all LevinPro LTC and LTC News subscribers as part of their subscriptions, and the impact of the capital markets upheaval on valuations affected nearly all property types in 2023. Still, a few historical norms remained.... Read More »
60 Seconds with Swett: 2023 M&A Totals Higher Than Expected

60 Seconds with Swett: 2023 M&A Totals Higher Than Expected

Happy New Year everyone, and we think most are very happy to put 2023 behind them. It was a difficult year for dealmakers, having to adapt to quickly changing capital markets, sometimes fickle lenders, buyers and sellers, and lower overall inventory of facilities to sell or finance. It would be hard to imagine a more challenging year, barring some catastrophe yet unknown to us. Sorry for putting that out there. And yet, believe it or not, seniors housing and care M&A transaction totals in 2023 only failed to surpass 2022’s total of 556 deals, which blew the previous record out of the water. We recorded 489 publicly announced deals in 2023, which is still a preliminary number that... Read More »
60 Seconds with Steve Monroe: Not So Merry This Year?

60 Seconds with Steve Monroe: Not So Merry This Year?

As many of you know, this time of year I often do my “Twas The Night Before Christmas” roast of senior participants in our industry, picking on either REITs, brokers, provider CEOs, or anyone else. Somehow, this year it just didn’t seem appropriate. They have been picked on enough, but not in jest like I try to do, even though some seem to take it a bit too personally. You shouldn’t. It seems the media, in particular The New York Times and The Washington Post, have decided to pick on the assisted living industry, maybe figuring nursing homes have already been through the media meat grinder, which they have. Last weekend, The Post came out with two articles blasting the assisted living... Read More »
60 Seconds with Swett: 2023 M&A Totals Higher Than Expected

60 Seconds with Swett: An Investor’s Guide to 2024: Buy, Sell, Finance & Thrive in Senior Care

Most are predicting similar conditions in the senior care M&A market next year, as compared with 2023, and that could be largely true with sustained high interest rates, operational and financial distress still out there and lower values. But taking advantage of the more subtle shifts in valuations, the lending environment, seller and listing profiles, acquisition strategies, distress and operational improvements could prime some for success in what should still be a difficult year. The decisions made in 2024 could also set the stage for many companies to excel in 2025 when M&A activity, new developments and valuations likely come storming back.  We’ll be looking to the future... Read More »
60 Seconds with Swett: 2023 M&A Totals Higher Than Expected

60 Seconds with Swett: U.S. Senior Care Deal Activity Surpasses 400 Deals

Across U.S. senior care M&A activity, we have surpassed 400 transactions in the first 11 months of the year, hitting 402. That is more than 15% down from the 476 transactions recorded in the first 11 months of 2022, but we are not sure many would have predicted the market even exceeding 400 deals. Of course, deals will continue to trickle in from the previous months, and December could yield its usual rush of closings, but we would be lucky to reach 450 deals on the year, far below 2022’s U.S. total of 517 deals. However, believe it or not, 2023’s estimated annual deal count of, let’s conservatively call it 440 deals publicly announced in the U.S., would be a very healthy number,... Read More »
60 Seconds with Swett: 2023 M&A Totals Higher Than Expected

60 Seconds with Swett: CCRCs Still Ahead on Occupancy

Ziegler recently came out with its analysis of the latest NIC MAP occupancy statistics for CCRCs, or LPCs, and the sector continues to outperform the separate seniors housing and care sectors. For independent living units, the average occupancy for CCRCs was 90.5% compared with 84.2% for IL units not within a CCRC. In the assisted living sector, AL units within CCRCs were on average 87.5% occupied, versus 83.1% outside of CCRCs. Memory care averaged 86.5% occupancy within CCRCs and 83.4% outside of them, and skilled nursing beds were 83.6% and 82.2% occupied, respectively, although CCRCs have been shedding their SNF beds over the last several years and the beds remaining would... Read More »
60 Seconds with Steve Monroe: Not So Merry This Year?

60 Seconds with Monroe: Happy Thanksgiving

Rarely does the entire clinical staff at a nursing home walk out in protest of working conditions, but that was the case a few months ago in New Mexico. I was made aware of it when I received a call from an 82-year old woman in New Mexico who volunteers to help the elderly make decisions who are at the end of their life.  The manager is a company called OpCo NM, very original, and apparently they have been buying up nursing homes in New Mexico. She believed the people running it were formerly associated with Skyline Healthcare, the company that walked away from more than 100 leased nursing homes after sucking all the cash from them. While I could not verify the connection, given what... Read More »