Berkadia Handles Southeast REIT Divestment
Berkadia Seniors Housing & Healthcare facilitated the sale of three assisted living and memory care communities. Of the three, two are in South Carolina and the other is in Virginia. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders handled both transactions. The two communities in South Carolina total 156 units. They are in the Columbia and Myrtle Beach MSA’s. The seller was a publicly traded REIT. The buyer was a regional owner/operator. The community in Virginia features 77 units and is located 10 miles southwest of downtown Richmond. The seller was also a publicly traded REIT, and the buyer was a private equity group. Commonwealth Senior Living will operate the... Read More »
Bakerson Companies Looking to Grow Seniors Housing Holdings
A private real estate investment firm that is “playing offense right now” in the seniors housing M&A market announced its latest acquisition of a 172-unit community in Rock Hill, South Carolina (Charlotte, NC MSA). La Jolla, California-based Bakerson Companies was launched in 2021 by Pablo Linero, who brings investment experience from HP Investors, Brookfield Properties and Frontera Real Estate Investments. Backed by Latin American family office capital, the company is searching for scale in the seniors housing industry. The latest deal featured Chandler Place in Rock Hill. Built in 1995 and 2002, this seniors housing campus includes independent living (majority), assisted living... Read More »
National Church Residences Expands Ohio Portfolio
National Church Residences expanded its Ohio portfolio through the acquisition of two affordable seniors housing communities. Both properties were purchased from Maple Knoll Communities and are in Cincinnati, Ohio. With these recent acquisitions, National Church Residences has 112 affordable seniors housing communities and 8,364 apartments across Ohio. Corbly Trace features 44 units and Mount View Terrace comprises 50 units. Originally built in the 1990s, both communities will receive immediate repairs. Ruscilli Construction, based in Dublin, Ohio, is the general contractor and Columbus-based Berardi Partners is the architect for the planned renovations. Read More »
New Perspective Accelerates Growth Mode
New Perspective Senior Living, a fast-growing senior living company with 40 communities across eight states, secured more than $200 million in bridge debt, preferred equity and common equity with its partners, BMO Commercial Real Estate, Fengate and Boldt, to facilitate the acquisition and financing of six seniors housing communities with over 800 combined units. The joint venture has established a programmatic relationship to pursue $500 million in future acquisitions and developments. One of the seniors housing communities is situated in West Fargo, North Dakota. Four others are in Wisconsin, encompassing the areas of Sun Prairie, Brown Deer, Franklin and Waukesha. The sixth community is... Read More »
Helios Handles (and Helps Finance) Alabama Deal
Helios Healthcare Advisors was engaged by a Mississippi-based regional owner/operator in its sale of an assisted living and memory care community in Alabama. The seller, Veritas InCare, was divesting to exit the industry. The selected buyer was a local owner/operator. Andrew Wittenauer, Mario Santiago and Bill Janis of Helios handled the transaction. Despite the community’s strong performance, dislocation in the debt markets and low liquidity impacted the buyer’s ability to utilize its existing lending relationships to fund the purchase. So, Helios structured a financing package with a regional lender that recapitalized the buyer’s existing community to unlock equity, while simultaneously... Read More »Schedule a demo
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