• 60 Seconds with Swett: Getting Realistic with New Development

    The positive mood at the NIC Fall Conference was contagious, as dealmakers were looking forward to a potential record-breaking fourth quarter. We at LevinPro are also gearing up to cover a new elevated level of M&A activity and pricing in the coming months, with our updated valuation tool better accounting for today’s market and the estimated... Read More »
  • NHC Responds to NHI

    National Healthcare Corporation, the tenant of 32 of National Health Investor’s skilled nursing/senior care facilities and three independent living communities, is disputing NHI’s determination of default after the landlord formally notified the operator that it was in default and must cure the default within 30 days to avoid an Event of... Read More »
  • REIT Acquires High-Quality Continuum of Care Community

    Blueprint facilitated the sale of a Class-A seniors housing community in Jasper, Georgia. Built in 2022, The Lodge at Stephens Lake includes 83 units of independent living cottages, assisted living and memory care. It is adjacent to a large active adult development and benefits from significant planned residential and commercial growth. At the... Read More »
  • Legend Senior Living Adds Allentown-Area Asset

    A Class-A, well performing property outside of Allentown, Pennsylvania, traded to a joint venture between Legend Senior Living and a new capital partner. Alex Florea and Kevin Lukehart of Blueprint handled the transaction. Legend previously operated The Vero at Bethlehem, which opened in July 2023 and stabilized within 18 months. At the time of... Read More »
  • CFG’s Senior Care Financing Activity

    Capital Funding Group financed more than $86 million across six transactions from early to mid-August. The transactions supported two memory care communities, four skilled nursing facilities, and one psychiatric hospital in Missouri, California, Tennessee, Texas and Virginia on behalf of nationally recognized borrowers, one of which is a... Read More »
South Carolina IL/AL Community Gets New Owner

South Carolina IL/AL Community Gets New Owner

Following its involvement in the sale of Church Hill Village in Newtown, Connecticut, to National Development and Benchmark Senior Living (plus Harrison Street’s sale of a Long Island portfolio), Newmark handled another transaction featuring another high-end asset. Developed by Bayshore Retirement Living in 2019, The Bayshore on Hilton Head Island comprises 126 independent living and assisted living units in Hilton Head Island, South Carolina. It also expanded in 2023 with 26 additional IL villas.  Occupancy has consistently been strong, and we imagine the operating margin was quite healthy, too. Life Care Services was the in-place operator. The ultimate buyer was not disclosed, but... Read More »
American Healthcare REIT Acquires AL/MC Portfolio

American Healthcare REIT Acquires AL/MC Portfolio

DMK Development Group divested a seniors housing portfolio in the Louisville and Lexington, Kentucky MSAs. The four communities were purposefully developed within a 50-mile radius to enhance operational efficiencies.  They total 316 assisted living and memory care units, and were all opened between late 2020 and early 2022. Trilogy Health Services, a long-time operating partner of DMK’s, managed the portfolio throughout lease-up and stabilization. DMK developed the portfolio with the help of several banking partners, including Stock Yards Bank & Trust, Republic Bank, Independence Bank and Old National Bank. American Healthcare REIT acquired the communities for $65.3 million, or... Read More »
Artemis Real Estate Partners Acquires Class-A California Community

Artemis Real Estate Partners Acquires Class-A California Community

JLL Capital Markets arranged the sale of a Class-A community in Foster City, California. Built in 2016 by Atria Senior Living as part of a mixed-use master-plan town center development, Atria at Foster Square comprises 155 assisted living and memory care units.  Artemis Real Estate Partners purchased the community in partnership with Atria, and Atria will continue to operate the community under its Atria Signature Collection brand. Aaron Rosenzweig and Dan Baker of JLL’s Seniors Housing Capital Markets team handled the transaction. No additional details were disclosed.  Read More »
Berkadia Reports Recent Deal Activity

Berkadia Reports Recent Deal Activity

Berkadia announced a few closings in the Midwest. First, Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers were engaged by Ryan Companies US in its divestment of a Class-A seniors housing community in Cedar Rapids, Iowa. Built in 2017 by Ryan Companies, Grand Living at Indian Creek comprises 165 independent living, assisted living and memory care units. The property is situated near Mercy Medical Center and UnityPoint Health-St. Luke’s Hospital, two of the region’s leading healthcare providers. The in-place operator, Grand Living, will continue to manage the community. The buyer and financials were not disclosed.   Fasano, Sanders, Tremper and Garbers also facilitated the... Read More »
Benchmark Acquires Fairfield County Community

Benchmark Acquires Fairfield County Community

Benchmark Senior Living added another Connecticut community to its portfolio, acquiring Church Hill Village in Newtown through a joint venture with National Development, a Massachusetts-based real estate investor. Built in 2019 by a partnership between Senior Lifestyle Corporation and Teton Capital Co., the 71-unit assisted living/memory care community is laid out in four connected residential neighborhoods.  It is Benchmark’s 21st community in Connecticut, and the ninth in the affluent Fairfield County. The company has also made recent investments with National Development in New Jersey and New York. Webster Bank provided acquisition financing for the deal, but no terms were... Read More »
ALP Owner/Operator Expands in Upstate New York

ALP Owner/Operator Expands in Upstate New York

Dave Balow of Senior Living Investment Brokerage facilitated the sale of an assisted living program community in the Albany, New York MSA, on behalf of a private owner. Built in 1985, Danforth Adult Care Center is in Hoosick Falls and features 57 units with 80 beds, including 42 licensed as ALP. The community sits on 2.49 acres with 29,112 square feet and maintains a roughly equal payor mix of private-pay and Medicaid residents. It generated $303,800 in EBITDAR on $3.17 million of revenues, with 83.8% occupancy.  The offering was marketed in the summer of 2024, attracting several competitive offers. The buyer, a New Jersey-based ALP owner/operator with a growing portfolio across upstate... Read More »