• Ziegler Sells Asset on Behalf of Marquee Capital

    Ziegler, a specialty investment bank, served as exclusive financial advisor to Marquee Capital (formerly, Berengaria Development) on the sale of Terova Senior Living, a 101-unit senior living community in Mequon, Wisconsin. Marquee Capital is the real estate company affiliated with Marcus Investments, LLC, the Marcus’ family office. Located in... Read More »
  • Lument Arranges Two Short-Term Debt Transactions

    Lument announced a couple of financings involving short-term debt, one for an acquisition and one to refinance a stabilizing seniors housing property. First, a long-time operator of a 150-bed skilled nursing facility in Oklahoma City, Oklahoma, was able to take its ownership interest in the facility from 33% to 100% with the help of acquisition... Read More »
  • Cushman & Wakefield/Greystone JV Announces Latest Refinance

    Cushman & Wakefield and Greystone jointly announced the successful refinance of Kōz on Weaver Road, a 100-unit seniors housing community in Snohomish, Washington. Kōz Development, LLC developed the community in 2020 to feature 40 studios, 40 one-bedroom and 20 two-bedroom units in five stories. There are also common spaces on each floor and... Read More »
  • New IL Community Funded by Ziegler

    Investment banking firm Ziegler just closed a $31.96 million tax-exempt financing on behalf of EveryAge (formerly United Church Homes and Services), which is a North Carolina-based not-for-profit that consists of three retirement communities and other programs. The funds will be used to construct BellaAge Hickory, located in downtown Hickory,... Read More »
  • 60 Seconds with Swett: The Keys to Retirement Success

    Last week, a partnership between Age Wave and Edward Jones conducted a survey with The Harris Poll, getting more than 12,000 respondents, the majority of which were retirees and pre-retirees, to answer questions on the keys to success in retirement. With Edward Jones as one of the initiators of the survey, being a major financial advisory firm,... Read More »
SLIB Handles Rocky Mountain Deal

SLIB Handles Rocky Mountain Deal

A couple of assisted living/memory care communities located in tertiary markets in Rocky Mountain states sold to a large, regional owner/operator for $12 million, or around $92,300 per unit. Jason Punzel, Vince Viverito, Matthew Alley and Brad Goodsell of Senior Living Investment Brokerage handled the transaction.  Totaling 130 units, the communities were both built in the late-1990s. They were previously owned by a group of investors who are now exiting the industry. The new California-based owner, which owns more than 30 communities across the country, plans to invest in capital improvements and continue the strong operational performance. No other details were disclosed. Read More »
Blueprint Sells in San Angelo

Blueprint Sells in San Angelo

A publicly traded REIT sold its cash-flowing, 30-unit assisted living/memory care community in San Angelo, Texas, hiring Amy Sitzman, Giancarlo Riso and Michael Segal of Blueprint Healthcare Real Estate Advisors to handle the sale. Built in 2012, the community consists of two adjacent standalone buildings, in addition to excess land for expansion with a lot size of 2.82 acres. It was the newest seniors housing community in town, and the community historically performed well with occupancy exceeding 85% in 2019, while generating cash flows of $1.5 million at a 34% margin in the same period. After experiencing an occupancy disruption in 2021 from weather-related damages, the community... Read More »
Evans Facilitates CareTrust REIT’s Georgia Acquisition

Evans Facilitates CareTrust REIT’s Georgia Acquisition

An older skilled nursing facility that recently underwent a major renovation sold to CareTrust REIT in a deal valued at $12 million, or $81,000 per bed. Located about 40 miles south of Atlanta, Georgia, in the town of Spalding, the 148-bed facility was originally built in 1968 and was recently put on the special focus facility list. A recent renovation modernized the amenities, which added to the facility’s appeal and helped boost occupancy. At the time of marketing, it was around 95% occupied, and according to CareTrust’s press release, the facility is expected to generate first-year annual cash rent of $1.17 million.    A regional owner/operator hired Evans Senior Investments to... Read More »
Blueprint Sells South Florida AL Community

Blueprint Sells South Florida AL Community

Blueprint Healthcare Real Estate Advisors sold a 54-unit assisted living community located in between Boca Raton and Fort Lauderdale, Florida. Brooks Blackmon and Lauren Nagle were engaged by a regional owner/operator to run a confidential marketing process of the property, which was positioned as an opportunity for an incoming investor with regional expertise to bolster their Florida footprint, implement a strong business plan, and capitalize on economies of scale.    A local-owner operator emerged from two other offers to buy the community for an undisclosed price. Read More »
SLIB Handles Two REIT Divestments

SLIB Handles Two REIT Divestments

A REIT divested a couple of assisted living/memory care communities in Iowa with the help of Ryan Saul, Vince Viverito, Jason Punzel and Nick Cacciabando of Senior Living Investment Brokerage. Built in the late-2000s, the communities combined for 96 units. They were located in Ottumwa and Fort Madison, both in southeastern Iowa. Their REIT owner wished to liquidate capital for other investments, so an Iowa-based owner/operator stepped in to buy the communities for an undisclosed amount. They plan to invest heavily in remodeling the community and improving overall performance.  Punzel and Viverito were then joined by Brad Goodsell and Jake Anderson to work on behalf of another REIT to sell... Read More »
SLIB Handles Rocky Mountain Deal

SLIB Announces Deals in Washington and West Virginia

Two teams at Senior Living Investment Brokerage announced deals this week, including one in Washington state and another in West Virginia. First, in Washington, Jason Punzel, Brad Goodsell, Vince Viverito and Jake Anderson sold a 54-unit assisted living community in the town of Shelton (on the Olympic peninsula). Built in 2000, it was previously owned by an investment group that was looking to divest its out-of-state assets. Occupancy was decent at 80%, but that could be improved. In the end, a Pacific Northwest owner/operator paid $4.9 million, or $90,700 per unit, for the community and plans to spend more on capital improvements and to increase the number of licensed beds.  Next,... Read More »