• Genesis HealthCare’s Legacy Liabilities Lead to Bankruptcy Filing

    Genesis HealthCare has filed for Chapter 11 bankruptcy protection, listing its 298 affiliated holding companies, ancillary businesses and insurance vehicles in its submission to the U.S. Bankruptcy Court for the Northern District of Texas Dallas Division. It is one of the largest skilled nursing operators in the country and operates 218... Read More »
  • Cindat Capital Management Invests in Colorado Community

    Cindat Capital Management, a middle-market real estate private equity platform focused on seniors housing and opportunistic investments, announced its first investment from its Senior Housing Credit Platform. It was a unitranche debt investment in The Pearl at Boulder Creak, a 116-unit, Class-A independent living and assisted living community... Read More »
  • MedCore Divests to Publicly Traded Healthcare REIT

    Ziegler announced its role as exclusive sell-side financial advisor to MedCore on the sale of Parkview on Hollybrook, a 189-unit rental CCRC in Longview, Texas. The property has been on a long road to stabilization. It was originally bought in a bankruptcy auction in 2016 for $20.7 million by Thrive FP when it was in the middle of development. 12... Read More »
  • Forbright Bank’s H1 Activity

    Forbright Bank reported its activity for the first half of the year from its healthcare and HUD lending teams, announcing more than $500 million in loans closed for acquisitions, recapitalizations, working capital, and HUD financings for healthcare providers across the country. One of the largest transactions was a $60 million revolving loan to... Read More »
  • Large SNF Portfolio Secures Financing

    MONTICELLOAM, LLC announced the closing of $218.3 million in combined bridge, mezzanine, and working capital financing for 18 skilled nursing facilities across Kentucky. The transaction includes a $179.3 million senior bridge loan and a $29 million mezzanine loan, which the sponsor plans to use to restructure and upsize the existing debt on the... Read More »
60 Seconds with Steve Monroe: Here We Go Again

60 Seconds with Steve Monroe: Here We Go Again

Investigate, investigate, investigate. Regulate, regulate, regulate. Why not assist? Why not help? Why not try to understand? Liz, Ron and Kirsten, of U.S. Senate fame, have asked the GAO to investigate the assisted living industry and to see if federal oversight is needed. Really? Are we going down this road again? How did that work out for the nursing home industry? As we know, the assisted living sector is predominantly private pay, unlike nursing homes, but the senators are using information from state Medicaid agencies to back up their claims. I suppose I could see them investigating any assisted living community that is receiving Medicaid funds to make sure the money is wisely spent,... Read More »
60 Seconds with Swett: Loneliness, Health and the Active Adult Opportunity

60 Seconds with Swett: Loneliness, Health and the Active Adult Opportunity

We came across a recent survey by U.S. News & World Report that interviewed seniors who moved into either independent living, assisted living or memory care in the last two years, trying to gather how seniors experience social connection within their communities and also how they gauged their loneliness and health trajectories leading up to their move. To no one’s surprise, the percent of seniors who felt lonely a majority of the time dropped from 69% before the move to seniors housing to 42% afterwards, still a large share, unfortunately. A smaller percentage reported taking part in more activities, more physical activity or finding meaning or purpose in daily life more often after... Read More »
60 Seconds with Swett: The Demand for SNFs

60 Seconds with Swett: The Demand for SNFs

We had a fantastic webinar last week that covered our recently published valuation statistics from The Senior Care Acquisition Report but also how valuations, the lending environment and M&A strategies are changing in 2025, so far. Jason Punzel of Senior Living Investment Brokerage, Steve Munn of VIUM Capital and JP LoMonaco of CBRE joined me for the discussion and all had fascinating and useful takeaways on the current state of the market. I ended the webinar with a question about what type of property each panelist would purchase themselves, if they had the equity to finance the rest of the acquisition with debt. Although much of the webinar centered around the seniors housing... Read More »
60 Seconds with Steve Monroe: Here We Go Again

60-ish Seconds with Steve Monroe: So, What’s Goin’ On?

While I did not make it to the NIC Spring Conference last week, my colleagues Ben and Steph were there to meet and greet the record crowd. The crowd included a lot of smiling faces. Some takeaways included the expectation that liquidity is returning and that we will see bigger deals this year. Also, lenders will be putting out more cash in 2025 than in 2024. All of this bodes well for the M&A market.  There was, however, some concern about what the Trump Administration is doing, and what the impact will be on seniors housing and care. And there should be concern. Even though the labor situation has improved, my guess is that there will be fewer low-wage workers around given some... Read More »
60 Seconds with Swett: Loneliness, Health and the Active Adult Opportunity

60 Seconds with Swett: See You in San Diego

By the time many of you are watching this, we’ll be in San Diego at the NIC Spring Conference, ready to catch up with our industry friends and hopefully meet a few new dealmakers, too. If you see me or my colleagues Steph Mallozzi and Ryan Marszalek in the hallways, please feel free to say hi and give us your thoughts on the current M&A, financing and development markets, and we’ll give you our opinions too. But if you aren’t going or are stuck in meetings all day, every day, then you’ll have a chance to hear takeaways from the conference plus see our latest proprietary seniors housing and care valuation statistics by tuning into our March 12th webinar at 1pm ET. Panelists JP LoMonaco,... Read More »
60 Seconds with Swett: Loneliness, Health and the Active Adult Opportunity

60 Seconds with Swett: DOGE, The Budget and Healthcare Spending

DOGE, or the Department of Government Efficiency, has been making the biggest splash in Washington, D.C. these days in terms of attention-grabbing headlines, and it appears it will try to target waste, fraud and abuse in Medicare and Medicaid spending as part of its efforts. Such a move could have a major impact on thousands of facilities’ bottom lines and could change how SNFs do business if reimbursement rates are affected.  That is a major dark cloud hanging over the industry, but there are way too many unknowns to even properly prepare for what’s to come. Because, what is to come? Would DOGE’s efforts go beyond just “waste, fraud and abuse,” which should be rooted out? Will the... Read More »