• Carnegie Capital Announces Latest Closings

    JD Stettin of Carnegie Capital has certainly had his hands full recently, having closed a couple of refinances in the Pacific Northwest, no easy task in the early days of COVID-19, we’re sure.   Mr. Stettin first sourced and structured a cash-out refinance of a 60-unit memory care community near Eugene, Oregon. Featuring a roughly 50-50 mix of... Read More »
  • PGIM Refinances Tennessee Senior Living Community

    PGIM Real Estate announced its latest transaction, with Executive Director Chris Fenton leading the way. It involved a $10.6 million HUD refinance of a senior living community in Ashland City, Tennessee. Built in 2015 with 100 beds in 80 units, the community provides assisted living and memory care services in a four-story building.   Thunderhawk... Read More »
  • Greystone Arranges HUD Construction Debt

    Working through HUD, Lisa Fischman of Greystone facilitated construction financing for an assisted living community to expand its Buffalo, New York-area campus. Originally built in 2003 with 110 beds in 84 units, the community is located on a 20-acre campus. Onsite amenities including a theater, physician’s office and beauty salon certainly... Read More »
  • Genesis HealthCare’s Shares Double in Value

    Leading up to Genesis HealthCare’s first quarter earnings release and conference call, the company’s share price took off. The rise started on May 22 when it jumped by 22% on high volume, but then it added another 35% on volume that was 10 times the average. In the course of four days, the price more than doubled, from $0.63 per share to $1.37... Read More »
  • Looking for Answers in the Lending Market: A Q&A with Alec Blanc of Monarch Advisors

    To get a sense of what is going on in the capital markets in this immediate post-COVID-19 world, we turned to Alec Blanc of Monarch Advisors for his own thoughts.   How has the lending environment changed from the beginning of the second quarter to now?  Overall, there is less debt capital available than there was prior to the COVID-19 crisis. ... Read More »
HJ Sims Closes Three Transactions

HJ Sims Closes Three Transactions

After a COVID-19-related change, HJ Sims closed the refinance of a CCRC in Atlanta, Georgia, along with a couple other transactions. After refinancing in 2016 and obtaining a 2018 pre-development financing, the community recently broke ground on an expansion that will add 53 independent living residences scheduled to open in 2022. The $107 million project comprises 39 units in a five-story building and three buildings each with four or five units, all ranging between 1,700 and 3,200 square feet. It will bring the campus’ total number of units to 479, including independent living, assisted living and skilled nursing services.  On behalf of the borrower, HJ Sims coordinated a request for... Read More »
Blueprint Wraps Up LTC Properties Portfolio Sale

Blueprint Wraps Up LTC Properties Portfolio Sale

Blueprint Healthcare Real Estate Advisors announced the final three phases of LTC Properties’ portfolio sale that sold to multiple buyers and closed from late-2019 to the first quarter of this year. It was revealed that seven skilled nursing facilities and about 550 beds in Iowa sold to a private owner/operator. Five of the facilities were located around Des Moines, and all seven offered upside to the new owner if they focused on certain geographical and management-level efficiencies. Humair Sabir and Jacob Gehl of Blueprint handled the deal, which closed in the first quarter.  That same pair then sold three skilled nursing facilities in Colorado, with two located in the Denver MSA and one... Read More »
MBK Senior Living Buys Orange County Community

MBK Senior Living Buys Orange County Community

California-based MBK Senior Living just acquired an assisted living/memory care community near its Orange County headquarters, with the Cushman & Wakefield team of Richard Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard handling the deal. Originally built in 1999 with a $1.1 million renovation completed in 2019, the community features 48 units and 59 beds of assisted living and memory care. Since the capital improvements, it has since stabilized and experienced a competitive bidding process.  The seller, a joint venture between Cadence Living and an institutional equity partner, previously acquired this community from the not-for-profit HumanGood in 2017. Back then,... Read More »
CBRE Secures Acquisition Financing For HJ Sims/Voralto Living Purchase

CBRE Secures Acquisition Financing For HJ Sims/Voralto Living Purchase

The CBRE National Senior Housing team arranged acquisition financing for a North Texas assisted living/memory care community. A joint venture between HJ Sims and Voralto Living was the buyer, obtaining a four-year, floating-rate loan with 24 months of interest only from a national bank. Featuring 60 units, the community was a newer vintage and will join Voralto’s six other communities in Texas, and one in Georgia. Aron Will, Austin Sacco and Adam Mincberg handled the transaction for CBRE.  It’s been a busy year already for CBRE’s Senior Housing Debt and Structured Finance team, which has closed over $515 million in debt and equity originations across 15 separate transactions. In the months... Read More »