60 Seconds with Swett: Values Soar Across All Sectors
We have been hard at work collecting and enriching our 2025 M&A data, and many listeners can attest to receiving a number of calls and emails from me over the last couple of months, and the result was the most deals we have ever compiled in any year, as well as the most property financials and cap rates. So a big thank you to all of our industry friends who helped in this effort. Prices soared in all sectors, and set a couple of records. The average price per unit for assisted living properties reached $268,600, more than $20,000 higher than the previous record set in 2019. The independent living sector also hit new heights, with an average price per unit of $263,600. Average... Read More »
Dwight Capital Announces Q4 Activity
Dwight Capital, its affiliate REIT, Dwight Mortgage Trust (DMT), and Dwight Healthcare Funding (DHF) closed a combined $465 million in skilled nursing financings in the fourth quarter of 2025. The transactions spanned 12 states and included a mix of HUD, bridge, and revolving line-of-credit financings. One notable closing was a $120 million bridge loan provided by DMT to finance five skilled nursing facilities in Florida comprising 795 beds. In the transaction, two facilities were refinanced, and three were acquired. To further support the facilities’ operations, DHF provided a $20 million working capital line of credit in conjunction with the bridge financing. Adam Offman originated the... Read More »
Property Management Company Acquires Active Adult Portfolio
FirstService Residential, a property management company with residential communities across the U.S. and Canada, recently acquired several active adult communities, expanding its existing footprint. Within the portfolio are five Florida communities, one in Tennessee and another in Georgia. FirstService Residential is a subsidiary of FirstService Corporation, a publicly traded property services company. The Florida properties include a few Class-A communities that were built by Kolter Homes. Cresswind Lakewood Ranch in Lakewood Ranch opened in October 2019. Opened in November 2024, Cresswind Lake Harris is in Tavares. Cresswind Hammock Oaks is in Lady Lake, and opened in... Read More »Focus Healthcare Partners Acquires Bankrupt CCRC
A judge approved a $133 million bid by Focus Healthcare Partners through Focus SH Acquisitions LLC to acquire a 495-unit CCRC in Houston, Texas. Previously owned by the not-for-profit Buckingham Senior Living Community Inc., The Buckingham had filed for bankruptcy protection in November 2025. Focus’s bid includes $116.4 million in cash, a commitment to spend $20 million on capital improvements over the next four years with $10 million of that spent within the first two years following closing, a $750,000 healthcare discount program and $12 million in rent rebate funds. Total gross consideration reached $133 million. And, seniors with financial hardships are... Read More »
Incumbent Operator Secures Two Acquisition Financings
Jay Healy and Director Andrew Lanzaro of Berkadia utilized the company’s balance sheet to provide $39.7 million of bridge-to-HUD financing for a Fort Worth-based skilled nursing owner/operator. The intent is to close the two subsequent HUD 232/223(f) refinancings in the second half of 2026. The loans facilitated the acquisition of three Texas skilled nursing facilities that the sponsor previously operated under a triple-net lease. The sponsor acquired the leased-fee interests below fee simple value, supported by the equity created through successful operations and the recent Medicaid rate increases in Texas. The first transaction was a $31.4 million bridge loan for the acquisition of two... Read More »Schedule a demo
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