Joint Venture Acquires Four AL/MC Communities
Following an active year of M&A with five separate deals totaling 21 properties, Stacked Stone Ventures has kicked off its 2026 growth with a portfolio acquisition in the Southeast. In a joint venture with Praxis Capital and an undisclosed family office, Stacked Stone, which was founded by Kent Eikanas, bought four assisted living/memory care communities in Georgia and South Carolina. Three of the communities were built in 1999 and one in 2013. Combined, they generated around $3.1 million of EBITDAR, with Viva Senior Living as the previous operator. The joint venture paid $36 million, or $147,500 per unit, at an 8.6% cap rate. They retained Viva as the operator, as well. CIBC placed... Read More »
Another Publicly Traded REIT Joins the M&A Mix
Another well-capitalized institutional player is stepping into the seniors housing fray, adding fuel to an already aggressive bidding environment. And based on its initial acquisitions, with one closed at more than $1 million per unit, the target seems to be high-quality assets. Prices are rising fast in that segment, and as the buyer pool continues to grow (especially with new entrants that are well-capitalized), that upward pressure should continue. Chiron Real Estate Inc. (formerly known as Global Medical REIT) is a REIT that acquires healthcare facilities and leases them to physician groups and regional and national healthcare systems, announced purchase agreements for three... Read More »
Distressed AL/MC Community Gets New Owner
Scott Frazier, Kory Buzin and Steve Thomes of Blueprint advised a special servicer in the seniors housing sector on the sale of Spanish Vines, a well-maintained assisted living/memory care community. It sits in a densely populated Pocket-Greenhaven neighborhood of southwest Sacramento, California. The 88-unit community was generating negative EBITDAR across all trailing periods, with month-over-month census, RevPOR and expenses fluctuating materially as operations worked towards stabilization. The asset benefitted from its infill location and recently renovated physical plant. Blueprint also underwrote an alternative path to upside through California’s Assisted Living Waiver program,... Read More »
Underperforming Community Sells and Secures Financing
A buyer recently acquired an underperforming seniors housing community in Charleston, South Carolina, and Blueprint Capital Markets secured the debt financing. Blueprint also represented the undisclosed seller in its divestment. The asset comprises 84 units of assisted living and memory care. There is room for occupancy growth and expense cuts, which will help drive operational performance. Kristen Ahrens and Pat Maloney arranged the financing, targeting private credit lenders for their structural flexibility and certainty of execution. Read More »
Standalone MC Communities Secure Acquisition Financing
Berkadia recently announced three financings on behalf of three different sponsors. In one of the closings, Steve Muth and Ed Williams arranged $25.8 million in acquisition financing for Peregrine Senior Living at Clifton Park and Peregrine Senior Living at Orchard Park. The bridge financing was provided through Berkadia’s Proprietary Lending Group on behalf of KCB Real Estate Management and Tunbridge Peak. The loans feature a 24-month interest-only term with one 12-month extension option, and Berkadia expects to submit the properties to HUD in the coming weeks, with a targeted HUD takeout in the fourth quarter. Jacob Gehl, Dillon Rudy, Connor Doherty and Ryan Kelly of Blueprint... Read More »Schedule a demo
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