New York SNF Portfolio Secures Bridge Loan
MONTICELLOAM funded a $217 million floating-rate senior bridge loan for a skilled nursing portfolio. The financing carries a 36-month term and supports the sponsor, a repeat client. The loan supports the acquisition and refinance of this portfolio, which comprises four facilities in New York. The sponsor is acquiring two of the assets and financing the other two, which are stabilized. Together, the four facilities comprise more than 1,000 beds. Read More »
Distressed AL/MC Community Trades in Virginia
An institutional real estate investment and development firm engaged Blueprint to conduct a risk/reward analysis of making capital improvements versus divesting its seniors housing community in Richmond, Virginia. Built in 1999, the 99-unit distressed assisted living and memory care community was struggling to rebound from pandemic-era lows, and the fund’s investment horizon was approaching. The seller ultimately elected to divest the community, and in this process Blueprint highlighted the West End submarket’s demand fundamentals and the opportunity to add value through repositioning. Targeting buyer prospects with a presence and/or interest in Richmond, the marketing campaign... Read More »
Dwight Capital Finances Large Portfolio Acquisition
Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed a $230 million bridge loan to support the acquisition of a senior care portfolio. The portfolio comprises 19 assets spread throughout Ohio, and, together, they total 1,896 skilled nursing and assisted living beds. In conjunction with the bridge loan, Dwight Healthcare Funding provided a $12 million working capital line of credit to support the portfolio’s ongoing operational needs. The $230 million financing marks DMT’s largest bridge transaction to date. It was originated by Adam Offman, Managing Director of Healthcare Finance, and Yossi Benish, Vice President of Business Development. Read More »
Publicly Traded Healthcare REIT Acquires in Minnesota
Lee & Associates’ Senior Housing team, led by Robert Black, represented a Scottsdale, Arizona-based developer in the sale of a Class-A seniors housing community in Saint Paul, Minnesota. Developed by the seller in 2019, the building features 101 independent living, assisted living and memory care units. There was strong interest in the asset, generating multiple competitive offers. A publicly traded healthcare REIT emerged as the ultimate buyer, acquiring the fully stabilized community for $28 million, or $277,200 per unit. Read More »
Ivy Healthcare Group Divests to Regional Owner/Operator
Engaged by Ivy Healthcare Group, Evans Senior Investments facilitated the sale of a skilled nursing facility in Gastonia, North Carolina. Ivy at Gastonia comprises 50 beds and has a strong operational foundation. ESI secured a regional owner/operator as the buyer. The incoming operator is expected to benefit from a favorable reimbursement environment and the potential for further margin improvement through continued operational enhancements. The deal progressed quickly. An LOI was signed just 20 days after going to market, and closing occurred within 45 days of contract execution, wrapping up the entire process in less than four months. Based on conversations with those involved and... Read More »Schedule a demo
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