• Ventas Posts Strong 2025 Results and Continues SHOP Momentum

    One of the big REITs, Ventas, reported its fourth quarter and full-year 2025 results, and its activity was impressive, with the company continuing to outperform many of its peers. A full comparison will have to wait for Welltower’s earnings release, but Ventas nonetheless posted a strong year.  In the fourth quarter, Ventas’ U.S. portfolio... Read More »
  • Ensign Delivers Strong Q4 and Full-Year 2025 Results

    The Ensign Group posted a strong fourth quarter and full-year 2025. The company reported that FFO was $75.2 million for 2025, an increase of 28.3% over 2024, and $20.4 million for the quarter, an increase of 33.9% over the prior year quarter. Same facilities and transitioning facilities occupancy for the year were 82.9% and 84.2%, increases of... Read More »
  • Omega Reports Continued Momentum

    Omega Healthcare Investors announced its fourth quarter and full-year 2025 results, completing approximately $334 million in fourth quarter investments, which consisted of $52 million in real estate acquisitions, $16 million in real estate loans and $266 million in unconsolidated entities. In 2025 Omega completed $1.1 billion in new investments,... Read More »
  • Senior Lifestyle Recapitalizes Two Communities

    Senior Lifestyle participated with its capital partners in the recapitalization of North Shore Place in Northbrook, Illinois, and The Sheridan at Eastside in Snellville, Georgia. Both communities were developed by Senior Lifestyle and will continue to be operated by the company following the transaction. North Shore Place is a 188-unit assisted... Read More »
  • Berkadia Announces 2025 Activity and Latest Deal

    Berkadia recorded another successful year, with more than $2 billion in mortgage banking closings for the second consecutive year. In 2025, Berkadia’s financings were spread across 123 properties including active adult, independent living, assisted living, memory care and skilled nursing communities. Multiple lending sources were utilized, such... Read More »
NHI Acquires Nine Communities

NHI Acquires Nine Communities

National Health Investors made a large SHOP purchase, adding nine communities consisting of 460 total units across Kentucky, South Carolina and Tennessee. The properties will be managed by Allegro Living Management, an affiliate of Spring Arbor Management. NHI has an existing relationship with Spring Arbor totaling approximately $227 million in investments.  The REIT paid $105.5 million, or $229,300 per unit, for the portfolio, and it expects to invest an additional $3.3 million during the first year following the acquisition. The communities are projected to generate an initial NOI yield of approximately 8.0%, and 7.6% after routine capital expenditures. Berkadia handled the... Read More »
Ensign Increases Its Footprint in Three States

Ensign Increases Its Footprint in Three States

The Ensign Group and its captive real estate company, Standard Bearer Healthcare REIT, are already off to a strong start this year, announcing a slew of acquisitions that were effective February 1. In one of the transactions, Ensign purchased Agave Grove Post Acute’s operations, subject to a long-term, triple-net lease with a third-party landlord. The skilled nursing facility features 225 beds in Glendale, Arizona.  Also, Ensign and Standard Bearer acquired the real estate and operations of three skilled nursing facilities that sit in Texas, in three separate transactions. Sunset Valley Rehabilitation and Healthcare Center is an 80-bed facility in Littlefield (Lubbock MSA). The two... Read More »
Colorado-Based Owner/Operator Expands

Colorado-Based Owner/Operator Expands

Vince Viverito, Jason Punzel, Jake Anderson and Taylor Graham of Senior Living Investment Brokerage sold a seniors housing community in Arvada, Colorado, representing a single-asset owner/operator who was looking to retire. The Oberon House was built in 1970 and renovated in 1997. It features 60 units of independent living and assisted living and was very well occupied, at 97%. The operating margin stood at a solid 25%, based on $3.27 million of revenues.  After receiving multiple offers, the seller chose another Colorado-based owner/operator with a portfolio of communities in the state. They paid $9.7 million, or $161,700 per unit, with an 8.6% cap rate. Read More »
Not-for-Profit Acquires Underperforming CCRC

Not-for-Profit Acquires Underperforming CCRC

A not-for-profit seller that built, owned and operated Arbutus Park Retirement Community recently divested the asset to another not-for-profit with the help of Toby Siefert of Senior Living Investment Brokerage. The established senior care provider/buyer, which is based in Pittsburgh, Pennsylvania, intends to continue to invest in the community. The offering was marketed in the spring of 2025.  Located in Johnstown, Pennsylvania, in the Pittsburgh MSA, the Type-A CCRC offers 90 independent living units, 32 personal care units and 141 skilled nursing beds. The independent living cottages are known as Arbutus Park at Parker Ridge. Built from 1974 to 2021, the asset grew to include... Read More »
Capital Funding Group’s 2025 Financing Volume

Capital Funding Group’s 2025 Financing Volume

Capital Funding Group executed more than $3.1 billion in financings in 2025, representing a 121% increase in financing volume compared to $1.4 billion closed in 2024. The annual total comprises 175 deals, including 54 healthcare and multifamily bridge loans and other lending products, 28 HUD loans, 25 accounts receivable lines of credit and 68 commercial loans. Notably, CFG executed more than $1 billion, or more than 32%, of its annual loan volume in the fourth quarter alone. Details of several notable transactions involving skilled nursing facilities include:  $253.2 million bridge loan for the refinancing of seven skilled nursing facilities totaling 1,050 beds in Maryland and... Read More »
60 Seconds with Swett: Values Soar Across All Sectors

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 »