60 Seconds with Swett: Annual M&A Activity Shatters Records
We may sound like a broken record, but the M&A market keeps setting records and reaching new heights in the seniors housing and care industry. And it is smashing the previous records. In 2025, LevinPro LTC recorded 871 publicly announced transactions, which broke the previous annual record set in 2024 by 21%. Not only that, 2024’s total had beaten the previous annual record by 28.5%. So we have been on a proverbial rocket ship in the last two years. Much of the activity has centered around the seniors housing market, as despite intense buyer demand for skilled nursing facilities, there has been a relative dearth of facilities available for sale. Seniors housing deals, meanwhile, have... Read More »
Sonida Finances CNL Merger
Sonida Senior Living announced that it has secured $900 million of committed permanent debt financing, inclusive of a $350 million accordion feature that provides for total potential capacity of up to $1.25 billion, to support the previously announced definitive merger agreement with CNL Healthcare Properties. The financing replaces the existing 364-day $900 million bridge facility provided by RBC Capital Markets and BMO Capital Markets, refinances CHP’s corporate credit facilities, and supersedes Sonida’s existing revolving credit facility at transaction close. Sonida entered into a new and upsized $375 million four-year secured revolving... Read More »
CareTrust Acquires High-Priced SNFs
CareTrust REIT kicked off 2026 with the acquisition of six skilled nursing facilities in the Mid-Atlantic with 532 total beds. The assets are operated by a tenant new to CareTrust under a long-term triple net lease with annual inflation-based rent escalators and multiple renewal options. The purchase price was $142 million including transaction costs, or $266,900 per bed, and was funded using cash on hand. The portfolio is expected to generate a 9% stabilized yield. That is quite a high valuation for SNFs, but we imagine they were located in strong reimbursement states, and the buyer demand for facilities is very high. In 2025, CareTrust closed $1.8 billion of investments, entered the... Read More »
Underperforming SNF Trades in Glendale
After The Ensign Group announced that it took over the operations of Agave Grove Post Acute, Evans Senior Investments announced that it handled the sale of the facility, representing Glencroft, an Arizona-based not-for-profit seeking an exit from the sector. The 225-bed skilled nursing facility in Glendale, Arizona, was 47% occupied at the time of marketing with a one-Star CMS rating. However, the property sits in a prime location adjacent to Sun City, offering a built-in referral network that should aid in Ensign’s turnaround efforts. An undisclosed buyer paid $30.15 million, or $134,000 per bed, for the facility. This price was reached after a... Read More »Family Divests Upstate New York ALP
After running an assisted living/memory care community in Lockport, New York (Rochester MSA), for over three generations, a family has decided to divest and exit the industry. They engaged Dave Balow, Dan Geraghty and Ryan Saul of Senior Living Investment Brokerage to sell the asset. Built in 1982 and 1988, with a memory care expansion in 2017, Briarwood Manor features 160 licensed Assisted Living Program (ALP) beds in 113 units. It was well maintained over the years and competes directly with the upper-end private pay communities in the area. However, it was just 44% occupied based on 158 operational beds, and the community was losing around $750,000 on $3.5 million of revenues. ... Read More »Schedule a demo
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