• Ziegler Sells Asset on Behalf of Marquee Capital

    Ziegler, a specialty investment bank, served as exclusive financial advisor to Marquee Capital (formerly, Berengaria Development) on the sale of Terova Senior Living, a 101-unit senior living community in Mequon, Wisconsin. Marquee Capital is the real estate company affiliated with Marcus Investments, LLC, the Marcus’ family office. Located in... Read More »
  • Lument Arranges Two Short-Term Debt Transactions

    Lument announced a couple of financings involving short-term debt, one for an acquisition and one to refinance a stabilizing seniors housing property. First, a long-time operator of a 150-bed skilled nursing facility in Oklahoma City, Oklahoma, was able to take its ownership interest in the facility from 33% to 100% with the help of acquisition... Read More »
  • Cushman & Wakefield/Greystone JV Announces Latest Refinance

    Cushman & Wakefield and Greystone jointly announced the successful refinance of Kōz on Weaver Road, a 100-unit seniors housing community in Snohomish, Washington. Kōz Development, LLC developed the community in 2020 to feature 40 studios, 40 one-bedroom and 20 two-bedroom units in five stories. There are also common spaces on each floor and... Read More »
  • New IL Community Funded by Ziegler

    Investment banking firm Ziegler just closed a $31.96 million tax-exempt financing on behalf of EveryAge (formerly United Church Homes and Services), which is a North Carolina-based not-for-profit that consists of three retirement communities and other programs. The funds will be used to construct BellaAge Hickory, located in downtown Hickory,... Read More »
  • 60 Seconds with Swett: The Keys to Retirement Success

    Last week, a partnership between Age Wave and Edward Jones conducted a survey with The Harris Poll, getting more than 12,000 respondents, the majority of which were retirees and pre-retirees, to answer questions on the keys to success in retirement. With Edward Jones as one of the initiators of the survey, being a major financial advisory firm,... Read More »
Ziegler Sells Asset on Behalf of Marquee Capital

Ziegler Sells Asset on Behalf of Marquee Capital

Ziegler, a specialty investment bank, served as exclusive financial advisor to Marquee Capital (formerly, Berengaria Development) on the sale of Terova Senior Living, a 101-unit senior living community in Mequon, Wisconsin. Marquee Capital is the real estate company affiliated with Marcus Investments, LLC, the Marcus’ family office. Located in one of the most affluent suburbs in Wisconsin, the community represented the only senior living asset owned by Marquee in the state. Formerly known as Ovation Sarah Chudnow, Terova was built in 2005 and was one of the three Jewish senior living communities in the area. After acquiring the community in 2020, Marquee Capital spent the next two years... Read More »
Lument Arranges Two Short-Term Debt Transactions

Lument Arranges Two Short-Term Debt Transactions

Lument announced a couple of financings involving short-term debt, one for an acquisition and one to refinance a stabilizing seniors housing property. First, a long-time operator of a 150-bed skilled nursing facility in Oklahoma City, Oklahoma, was able to take its ownership interest in the facility from 33% to 100% with the help of acquisition financing arranged by Lument. Bill Wilson led the transaction, and Lument’s debt syndications team, led by Steve McGee and Sangjin Na, placed the $10.7 million loan with a community bank.  The loan features a five-year term, with a minimum of two years of interest only, 25-year amortization and a fixed interest rate. In addition to funding the... Read More »
Big Move In The Brokerage Business

Big Move In The Brokerage Business

Talk about a surprise move. Three key executives at Cushman & Wakefield just jumped ship and landed at JLL Capital Markets. The trio includes Senior Managing Directors Jay Wagner and Rick Swartz, who will co-lead the team at JLL, and Senior Managing Director Aaron Rosenzweig, who will focus on investment sales, joint venture equity and financing transactions throughout the U.S. Wagner and Swartz were co-heads and Vice Chairmen of the Seniors Housing Group at Cushman. Rosenzweig served as Executive Director of the group, working on more than $11 billion in transactions over a 12-year period. This includes M&A, debt and equity placements. This is a big blow to C&W, which had... Read More »
SLIB Sells Three Southeast Seniors Housing Communities

SLIB Sells Three Southeast Seniors Housing Communities

Three seniors housing communities in the Southeast sold to a private equity group partnering with a management company that was looking to enter the region. The Tennessee community is located in the town of Madison, while the two Georgia communities are in Marietta and Jonesboro. Built in 1999 and 2000, they consist of 228 units of assisted living and memory care.  These were outliers for the outgoing owner/operator, which is based in the western United States and has its core operations in the region. The properties were also struggling operationally, which probably added to the seller’s motivation. Vince Viverito, Brad Clousing, Jason Punzel and Brad Goodsell of Senior Living... Read More »
Major Medicaid Waiver AL Portfolio Sells in Midwest

Major Medicaid Waiver AL Portfolio Sells in Midwest

A major portfolio of Medicaid waiver assisted living communities sold in the Midwest, with Connor Doherty, Ryan Kelly and Alex Florea of Blueprint Healthcare Real Estate Advisors handling the transaction. The portfolio, which has seven locations in Indiana and four in Ohio all built around 2000, consists of 1,400 total units. Altogether, the communities earned approximately $56 million and $12 million in revenues and EBITDAR, respectively, for a strong 21% margin.  Not too many Medicaid waiver portfolios of this size hit the market, let alone stabilized portfolios, but ownership desired to execute a succession plan and engaged Blueprint to create a competitive bidding process. Apart from... Read More »
Owner/Operator Grows Midwest Portfolio

Owner/Operator Grows Midwest Portfolio

A Midwest-based owner/operator bought an 81-unit assisted living/memory care community in Mason, Ohio, about 20 miles north of Cincinnati. No purchase price was disclosed, but the buyer plans to make significant upgrades to the community that should help improve the operations.  Built in 2011, the community features 61 assisted living and 20 memory care units. It has been well maintained over the years, but some renovations were needed. The seller chose to divest the asset to focus on its current operational footprint, while the buyer saw the community fitting into its growing footprint in the Midwest. Dan Geraghty, Bradley Clousing and Ryan Saul of Senior Living Investment Brokerage... Read More »