Welltower Shatters Single-Day Dollar Volume Record
October was already on its way to setting records for M&A activity in the seniors housing and care industry before Welltower announced the most transaction dollar volume we have ever seen in a single day when it released its third quarter earnings. A couple of the largest portfolio acquisitions took place across the pond, but the REIT also announced that it was under contract or has closed an additional $4 billion of seniors housing acquisitions spanning nearly 40 transactions across over 150 communities and over 12,000 units in the United States. Starting with the biggest transaction, Welltower is acquiring a real estate portfolio of Barchester-operated communities in the United... Read More »
South Carolina Portfolio Trades
Newmark has hit a rich vein of activity, announcing several closings in the last few days. First, the team sold three communities across the Greenville, South Carolina, area on behalf of Atlas Senior Living. The communities were built between 2014 and 2016 and totaled 306 units, including 108 independent living, 144 assisted living and 54 memory care units. Average occupancy was strong, above 95%, and the portfolio sold for more than $100 million, or above $327,000 per unit. Atlas Senior Living will continue its good work and manage the portfolio going forward. According to LevinPro LTC, Atlas Senior Living acquired these communities in 2019 for $48.4 million, or $244,400 per unit, from... Read More »
Blueprint Closes in Kentucky and Colorado
Blueprint has been adding to our record-breaking October M&A haul, announcing a couple of closings in the last week. First, Kyle Hallion handled another sale in his home state of Kentucky, this time on behalf of a local family owner/operator with deep ties to this asset’s local market. The senior care facility features 64 skilled nursing beds and 29 assisted living units in Lebanon, Kentucky, and it was the family’s final facility in the state. The Villages of Lebanon, located approximately 1.5 hours south of Louisville, benefited from favorable Medicaid reimbursement tailwinds. The facility realized strong per-diem rate increases following Kentucky’s July 1, 2024, rebasing, further... Read More »
Southern California Communities Get New Owner
Berkadia handled the sale and financing of two seniors housing communities in Southern California. The transaction included an 84-unit assisted living and memory care community in the San Diego suburbs and a 72-unit memory care community in the Los Angeles suburbs. These were older vintage properties with some Medicaid census but were very strong performers in the market, with an average occupancy rate of 90.5%. Managing Directors Mike Garbers, Cody Tremper, Ross Sanders and Dave Fasano of Berkadia Seniors Housing & Healthcare closed the sale on behalf of a Southern California-based private owner. Managing Directors Ed Williams and Steve Muth of Berkadia Seniors Housing &... Read More »
Separate Sponsors Secure Funding
MONTICELLOAM, LLC announced two separate financings in California and New York. First was a $19.75 million senior bridge financing for the acquisition of an assisted living and memory care community with 141 units in central California, near the Bay Area. The financing carries a 24-month initial term and was completed on behalf of a new client, an established real estate operator. The transaction was originated by MONTICELLOAM Senior Managing Director, Originations, Karina Davydov. In another transaction, MONTICELLOAM financed a $44 million senior bridge loan for a 197-bed assisted living community in the suburbs of New York City. The floating-rate loan, structured with an initial 12-month... Read More »Schedule a demo
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