60 Seconds with Swett: October Smashes M&A Record
We were predicting a record-breaking end to the year in terms of M&A activity, but we are not sure we expected a 100+ deal month, with 110 transactions and counting. Just to put that in perspective, the previous record for any month was 77 deals in October of last year, and only four months had previously broken the 70-deal barrier. So this October beat the previous record by 43%, and it’s still just a preliminary total. That is out of this world. There were nearly 100 separate buyers, according to the individual deal data available in LevinPro LTC, the most prolific being, unsurprisingly, Welltower. But Welltower’s activity is actually understated in the figures, as a significant... Read More »
60 Seconds with Swett: Previewing Our Capital Markets Conversation
We know that the capital markets have made the biggest impact on M&A activity and property valuations in the last several years, changing the size of possible deals, the makeup of the properties sold and the buyers that could actually buy. Now that the capital markets have substantially improved and are getting better, barring a sudden and lasting trade war with China, how is the psyche of lenders, buyers and sellers changing in the senior care industry? What terms are now possible to refinance your seniors housing community? Are deals possible that did not pencil last year? Should sidelined sellers jump back into the M&A market? And how are growth strategies going to change in... Read More »
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
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: 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 »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
