• Berkadia Announces Array of Closings

    Berkadia is riding a transaction hot streak, closing 19 property sales in the last 45 days. The activity included a portfolio featuring five assisted living/memory care communities across Utah, Wisconsin and Minnesota sold to Jaybird Capital, an affiliate of Jaybird Senior Living, through HUD assumptions. Jaybird assumed management of the... Read More »
  • Tremper Capital Group Closes Several Financings

    Tremper Capital Group showed off its variety with a series of financings closed for clients across the country. They included a construction loan, an acquisition loan, a bank refinance and a portfolio financing. First, the team closed non-recourse construction financing for an assisted living/memory care community in the Dallas-Fort Worth area.... Read More »
  • Upstate New York SNF Trades Between Not-for-Profits

    Joe Knapp of the Knapp-Stahler Group at Marcus & Millichap handled the sale of a skilled nursing facility in upstate New York. The Center For Nursing And Rehab in Hoosick Falls, New York, comprises 82 beds in a single-story building that sits on four acres. It was built in 1954, but renovated in 1979 and 1995.  Apparently, the facility... Read More »
  • Acquisition Financing Closed for Distressed California Community

    Private debt fund and direct commercial real estate lender Wilshire Finance Partners closed an $8.15 million first lien bridge loan for the acquisition and repositioning of a distressed seniors housing community in California. The financing included reserves specifically allocated for capital improvements and operational support during the... Read More »
  • Developer and Operator Secure Construction Financing

    Another new development will soon be underway, with BLDG Real Estate and The Fellowship Family securing financing for a $100 million full-continuum community, Fellowship Wildlight. BLDG Real Estate is a real estate development firm that specializes in design, development and asset execution across multiple product types. The Fellowship Family is... Read More »
Active Adult Attracts Buyer in SoCal

Active Adult Attracts Buyer in SoCal

Active adult communities continue to draw attention from investors, particularly those not traditionally involved with the more service-oriented property types like assisted living and memory care. Brad Goodsell and Jason Punzel of Senior Living Investment Brokerage recently represented a privately-owned multifamily group in its sale of a 320-unit age-restricted community in Hemet, California. The buyer was another multifamily investor with a strong presence in California, including several active adult communities. Built in 1984, the target was operating well at 93% occupancy and a 53% operating margin on approximately $3.04 million of revenues. While you don’t often see margins like... Read More »
JCH Sells Central California Senior Living Community

JCH Sells Central California Senior Living Community

Jim Hazzard, Cindy Hazzard and Nick Stahler of JCH Senior Housing Investment Brokerage teamed up to sell a boutique assisted living/memory care community located on the central coast of California. Featuring over 20 units, the community was previously owned by a family owner/operator. But after a confidential marketing campaign conducted by JCH, a local owner bought the community for an undisclosed price. Read More »
Blueprint’s Good Samaritan Sale

Blueprint’s Good Samaritan Sale

The Evangelical Lutheran Good Samaritan Society, a not-for-profit owner/operator, sold three of its skilled nursing campuses in northwest Illinois, near the Iowa border. Totaling 214 skilled nursing beds and 65 independent living/senior apartment units, the portfolio was well maintained and boasted good local reputations. The buyer will look to manage expenses and boost operational synergies to improve their performance. Plus, the new operator, Allure Healthcare Services, has plenty of experience with rural skilled nursing facilities in the area, which should certainly help. Amy Sitzman and Michael Segal of Blueprint Healthcare Real Estate Advisors handled the transaction on behalf of Good... Read More »
Ensign Expands Again in Arizona

Ensign Expands Again in Arizona

Serial acquirer The Ensign Group just announced its 10th senior care acquisition of the year, and 20th since the start of 2018. Its latest target was a 100-bed skilled nursing facility in Surprise, Arizona. Newly built, the facility is the seventh added to Ensign’s Arizona portfolio since 2018 and its 31st overall health care property in the state. As usual for Ensign’s Arizona acquisitions, its affiliate Bandera Healthcare will take over operations at the facility. Ensign also acquired the real estate, furthering its goal to own more of the real estate in its portfolio. Read More »
Pardoll Closes Slew of Southeast Sales

Pardoll Closes Slew of Southeast Sales

Mike Pardoll of Marcus & Millichap has spent the last few months crisscrossing the Southeast, closing a number of seniors housing and skilled nursing transactions along the way. Starting in Dickson, Tennessee (Nashville MSA), he represented a private individual in selling their 70-bed skilled nursing facility to another private individual buyer. Leased by Mission Health (an affiliate of the private equity firm Windward Health Partners) as part of a 10-facility lease that includes other SNFs in Tennessee and Georgia, the facility was originally built in 1974. It was well occupied at 90% and produced around $930,000 in annualized 2018 EBITDA. The current lease is $31,000 per month, which... Read More »