Not-For-Profit Divests to Compass Healthcare in Minnesota
Saint Therese, a Minnesota-based not-for-profit senior care organization, engaged Blueprint in its divestment of its CCRC in a northwest Minneapolis submarket. Originally built in 1967, Saint Therese of New Hope comprises 221 independent and assisted living units and 168 skilled nursing beds in New Hope, Minnesota. Starting in 1979, the community underwent extensive senior living expansion and renovation projects over the years. In 2003, it also became the first in the Midwest to offer a palliative care unit. Michael Segal and Daniel Waldhorn handled the transaction. The marketing process generated a competitive bidding environment among investors and operators within the state and the... Read More »
60 Seconds with Swett: M&A and Financing Markets Breaking Loose
We have to say that there seems to be a good amount of optimism out there, despite an uncertain economy, an unsettling election cycle and constant pressure on operators to increase census and cash flow. Rates have a lot to do with it, as the 10-Year Treasury rate appears to have settled below 4% and expectations of one and more likely two rate cuts are increasingly becoming consensus. That is far from a sure thing, but we have heard that even one rate cut could be enough to bring a lot of buyers, sellers and lenders back into the fold, with the reasonable assurance that rates have started their descent. We also spoke with a couple of lenders who described a much healthier debt and equity... Read More »
SLIB’s Summer of Sales Continues
It’s been a record-setting year, so far, for M&A activity, and 2024 could mark a record for Senior Living Investment Brokerage, as well. After a little more than half the year, the firm has so far closed 42 transactions, split between 28 seniors housing and 14 skilled nursing deals, comprising 62 total properties across 30 states. Sellers spanned the not-for-profit world, private owners seeking retirement, and institutional players right-sizing their portfolios, while buyers ranged from individual private owners to regional companies to institutional capital partnering with quality operators for growth. All told, those deals were worth more than $370 million. SLIB’s 2023 activity... Read More »
Regional Operator Acquires Struggling SNF in Michigan
Evans Senior Investments arranged the sale of a skilled nursing facility in Jackson, Michigan. The seller was an independent owner/operator looking to recycle capital and exit the industry. The ultimate selected buyer was a regional operator. Built in 1968, Countryside Care Center comprises 108 beds. The facility was facing challenges at the time of ESI’s marketing process, operating only 80 of its beds with an occupancy rate of 59%. Additionally, the facility held a two-star rating from CMS. ESI marketed this value-add opportunity by highlighting the opportunities to boost occupancy, enhance asset management synergies and capitalize on the facility’s favorable location near a strong... Read More »
Capital Funding Group Reports Strong H1
Capital Funding Group has financed over $440 million from January through June of this year. This financing includes 18 healthcare bridge loans, five multifamily bridge loans and eight HUD loans. Notable transactions included a $65 million bridge loan for the refinancing of a nine-property seniors housing portfolio in Ohio, a $43 million HUD financing package for three skilled nursing facilities in Washington and Idaho, and a $36.2 million bridge-to-HUD loan for the refinancing of five SNFs in North Carolina. Additionally, CFG secured a $23.6 million bridge-to-HUD loan for the refinancing of a SNF in Delaware, a $20 million bridge-to-HUD loan for the refinancing of SNF in Maryland,... Read More »Schedule a demo
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