Eden Senior Care Secures Acquisition Financing
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, provided a $54.6 million bridge loan to finance the acquisition of a six-facility skilled nursing portfolio in Pennsylvania. Comprising 925 beds, the portfolio includes Hampton House in Wilkes Barre, Kingston Rehabilitation in Kingston, Pottsville Rehabilitation in Pottsville, Williamsport North and South Rehabilitation in Williamsport and Yeadon Rehabilitation in Yeadon. In conjunction with the bridge loan, Dwight Healthcare Funding also provided a $7 million working capital line of credit with an accordion feature of up to $15 million, which will be used to support the day-to-day operations across all properties. Adam Offman,... Read More »
Apollo Acquires Bridge Investment Group
Apollo and Bridge Investment Group Holdings have entered into a definitive agreement for Apollo to acquire Bridge in an all-stock transaction with an equity value of approximately $1.5 billion. Bridge has $50 billion of AUM in complementary sectors aligned with Apollo’s long-term growth strategy. Bridge’s seniors housing portfolio totals 62 communities and 6% of its fee-earning AUM comes from seniors housing, while Apollo’s “retirement services unit” reported earnings of $841 million. At closing, Bridge stockholders and Bridge OpCo unitholders will receive .07081 shares of Apollo stock for each share of Bridge Class-A common stock and each Bridge OpCo Class-A common unit,... Read More »
Brightview Divests to Joint Venture in Maryland
Solera Senior Living, through a joint venture with Focus Healthcare Partners, acquired a seniors housing community in Bethesda, Maryland, from Brightview Senior Living. Built in 2019, Brightview Bethesda Woodmont comprises 92 assisted living and 21 memory care units. Occupancy was around 86% at closing, and Solera will take over operations. It will be rebranded as Modena Reserve at Bethesda. Newmark handled this transaction and arranged five-year acquisition financing, with a three-year interest-only period, from a national bank. Read More »
Focus Healthcare Partners Acquires in Minnesota
Focus Healthcare Partners acquired a seniors housing community that comprises 288 units in Maple Grove, Minnesota. Located 12 miles northwest of downtown Minneapolis, the community, SilverCreek on Main, was built in three phases between 2015 and 2024 by Ryan Companies. The original independent living, assisted living and memory care community features a single four-story building with 195 units (106 IL, 49 AL and 40 MC). A 75-unit independent living expansion was built in 2020, and an 18-cottage addition opened in 2024. The property was 93% occupied at the time of sale. SilverCrest Properties will operate the community, establishing a new partnership between the buyer and the... Read More »
Harborside CCRC Sale Approved
Focus Healthcare Partners’ purchase of a struggling CCRC on Long Island has gone through the ringer, but Chief Judge Alan S. Trust of the US Bankruptcy Court for the Eastern District of New York just approved the sale under modified terms, which should close within the next two months. The property attracted some attention in late 2024 when New York State torpedoed the sale of the long-struggling CCRC in Port Washington, New York, to LCS, citing “a lack of required financial transparency” among other objections. The Harborside, formerly Amsterdam of Harborside, opened in 2010 as a 329-unit, not-for-profit community and filed for bankruptcy in 2014 and again in 2021. It was roughly half... Read More »Schedule a demo
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