• Newmark Announces August Deal Activity

    Newmark announced its August activity, which totaled around $300 million of transaction volume. The largest deal was Spectrum Retirement’s sale of four seniors housing communities in the Columbus, Ohio MSA to an undisclosed institutional buyer. Opened in 2017 and early 2018, the portfolio totals 514 units of independent living, assisted living... Read More »
  • Several Companies Report August Occupancy Gains

    Several companies have released occupancy updates for the month of August, and there were some mixed results. However, for the most part, these top players reported large basis-point gains over several months, and even between July and August. This consistency among businesses bodes well for a return to normalcy in the skilled nursing and seniors... Read More »
  • Tryko Adds to Rhode Island SNF Portfolio

    Tryko Partners added to its Rhode Island skilled nursing portfolio with the acquisition of a 120-bed facility in North Kingstown. Named Scalabrini Villa, the one-story facility is set on a bucolic property facing Narragansett Bay. The Brown family (Brown University’s namesake) donated the site to Rhode Island Hospital, which... Read More »
  • Seattle Seniors Housing Community Wraps Up Construction

    Wesley Homes, Presbyterian Homes & Services (PHS) and Ryan Companies teamed up nearly three years ago to develop a large senior living community in Seattle, and has recently completed the project.  The 405,992-square foot senior living community, called Wesley at Tehaleh, exists within the master-planned community of Tehaleh by Newland... Read More »
  • MedCore Partners Divests Washington State Community

    After purchasing a portfolio of seven seniors housing properties from Ventas in July 2020, MedCore Partners is divesting one of the properties in Sedro-Woolley, Washington (about 75 miles north of Seattle). The 2020 acquisition comprised six other communities in Washington (Sequim, Olympia, Centralia and Tacoma) and California (San Juan... Read More »

Newmark Announces August Deal Activity

Newmark announced its August activity, which totaled around $300 million of transaction volume. The largest deal was Spectrum Retirement’s sale of four seniors housing communities in the Columbus, Ohio MSA to an undisclosed institutional buyer. Opened in 2017 and early 2018, the portfolio totals 514 units of independent living, assisted living and memory care. It was around 60% occupied as of this summer. The buyer paid $112.57 million, or $218,000 per unit, at an in-place cap rate of 4.0%. There was another August portfolio sale that we covered earlier this month, plus the sale of a CCRC in Northridge, California. But Newmark also represented Healthpeak Properties in the sale of its... Read More »
Tryko Adds to Rhode Island SNF Portfolio

Tryko Adds to Rhode Island SNF Portfolio

Tryko Partners added to its Rhode Island skilled nursing portfolio with the acquisition of a 120-bed facility in North Kingstown. Named Scalabrini Villa, the one-story facility is set on a bucolic property facing Narragansett Bay. The Brown family (Brown University’s namesake) donated the site to Rhode Island Hospital, which operated a children’s hospital there for decades. Then in 1956, Bishop John Baptist Scalabrini purchased the property, opening The Bishop Scalabrini Home for the Aged, which provided senior care services to the community.   The current SNF opened in 1994 and now features two 60-bed units, each with 12 private rooms and 48 semi-private rooms.... Read More »
MedCore Partners Divests Washington State Community

MedCore Partners Divests Washington State Community

After purchasing a portfolio of seven seniors housing properties from Ventas in July 2020, MedCore Partners is divesting one of the properties in Sedro-Woolley, Washington (about 75 miles north of Seattle). The 2020 acquisition comprised six other communities in Washington (Sequim, Olympia, Centralia and Tacoma) and California (San Juan Capistrano and Westminster), and in total sold for $52 million, or $89,300 per unit. Still operated by Senior Services of America, there are 582 total units of independent living, assisted living and memory care. MedCore made the acquisition with The National Realty Group and Kong Capital, originally agreeing to a purchase price of $70 million but lowering... Read More »
DigitalBridge Divests Two Kansas Communities

DigitalBridge Divests Two Kansas Communities

DigitalBridge Group, formerly known as Colony Capital, recently announced it was divesting its healthcare real estate assets in order to focus on its digital infrastructure business. Two of the seniors housing properties have found a new owner with the help of Ben Firestone, Michael Segal and Lauren Nagle of Blueprint Healthcare Real Estate Advisors.   The two communities, located in the Kansas City, Kansas MSA, were built in the early 2000s but have received subsequent renovations. Leawood Gardens is a 70-unit assisted living/memory care community in Johnson County, and Blackhawk Assisted Living has 48 units of AL and MC in Miami County. According to our M&A... Read More »
Lument Finds New Owner for Philly CCRC

Lument Finds New Owner for Philly CCRC

A CCRC outside of Philadelphia, Pennsylvania, changed hands with the help of Laca Wong-Hammond and Dominic Porretta of Lument Securities. In addition to facilitating the confidential sale, the Lument team also handled the assumption of the property’s HUD mortgage.   Built in 1967 but renovated multiple times over the years, including a major refurbishment in 2014, Bryn Mawr Terrace is located about 10 miles from downtown Philly on the Main Line. It features 109 functional skilled nursing beds (with a license for 120 beds), 25 memory care units and eight personal care units. It had operated well historically, but the pandemic caused cash flow to fall, and there was no positive NOI by the... Read More »
Berkadia Adds New Hire to Investment Sales Team

Berkadia Adds New Hire to Investment Sales Team

Berkadia has added Director Simona Wilson to the Seniors Housing & Healthcare team, serving on the investment sales platform led by Tim Cobb. Ms. Wilson has 19 years of industry experience, previously founding Crescent Capital LLC where she advised seniors housing capital providers and operators on investment and portfolio strategies. She also spent 15 years on the Healthpeak investment team, serving as Vice President of Strategy & Business Development and Vice President of Acquisitions & Valuations. Ms. Wilson graduated with an accounting degree from the University of Southern California, and spent two years at PricewaterhouseCoopers before moving to a career in healthcare... Read More »