The Current Lending Environment for Senior Care Properties
The financing process has killed dozens (and hundreds) of deals in the last couple of years, and yet M&A activity is near record levels in the seniors housing and care industry. So deals are getting done, and not just with cash. Who has been lending and at what cost to the borrower? What hurdles have to be overcome? And when capital costs do lower, how can owners and operators best prepare to finance the oncoming wave of deals and demographics? Read More »
Lument Arranges Tennessee SNF Sale (& Loan Assumption)
A skilled nursing facility in Tennessee that was struggling to maintain debt service and other loan obligations sold with the help of Laca Wong-Hammond and Isabel Carta of Lument Securities serving as exclusive financial advisor to the seller. Located in Rocky Top, about 25 miles from Knoxville, Summit View of Rocky Top is a 117-bed skilled nursing facility that offers short-term rehab and traditional nursing care, along with an 18-bed behavioral health hospital. It also carried an attractive, assumable loan. Like many facilities, it had experienced financial and operational difficulties since the pandemic, and so the local owner/operator engaged Lument Securities and Lument’s asset... Read More »
W&D Facilitates Three Seniors Housing Deals
Walker & Dunlop Investment Sales facilitated the sale of three separate seniors housing assets. First, W&D announced the sale of Legacy Living Florence, a 128-unit senior living community just south of Cincinnati, Ohio. Built in 2022, Legacy Living offers independent living, assisted living and memory care. After receiving multiple offers, a REIT was selected as the buyer. Alex Vice, Joshua Jandris, Brett Gardner and W&D’s Seniors Housing Team handled the transaction. Next, W&D facilitated the sale of Lakeview Senior Living. Built in 2008, the community comprises 125 independent living units in Lakewood, Colorado. The buyer was Livingston Street Capital. Joshua Jandris and... Read More »
PE Partnership Divests to a Publicly Traded REIT
Senior Living Investment Brokerage was brought on by a partnership in its divestment of an assisted living/memory care community in Freehold, New Jersey. The partnership was between Stephanie Anderson and Steve Walling, known as SilverStone HCRE, and a private equity group located in the west. During their ownership, NOI increased significantly, enabling them to sell the community at a significant profit. Purpose-built in 2001, Mattison Crossing at Manalapan Avenue comprises 160 units with 199 beds, and its performance was stabilized during the marketing period. The selected buyer was a publicly traded REIT with an established footprint in central New Jersey that was looking to expand its... Read More »
M&M Negotiates Lease, Purchase Option and Key Money
Nick Stahler and Austin Diamond of the Knapp-Stahler Group at Marcus & Millichap facilitated a lease-with-purchase-option transaction for a dually certified, 120-bed skilled nursing facility in the Dallas-Fort Worth area. The pair was also able to negotiate $500,000 of key money from the incoming operator for the landlord, a rarity in Texas deals. That was possible because at 10 years of age, the facility was performing well and represented decent lease coverage on day one. The SNF was 74% occupied and operated at a strong 12% margin with a 4% management fee. Stahler and Diamond obtained several offers culminating in a full asking lease rate, purchase option that starts in year... Read More »Schedule a demo
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