Regional Healthcare Operator Lands HUD Acquisition Financing
Helios Healthcare Advisors arranged acquisition financing for a 124-bed skilled nursing facility with a strong quality mix in Pasadena, Texas, on behalf of a regional healthcare operator that had been leasing the property from a third-party landlord. The financing package was $12.9 million, or $104,000 per bed. Leveraging the facility’s strong occupancy and financial strength, Helios structured a direct HUD acquisition loan through a national HUD lender. The capital structure also included a seller note, allowing the borrower to close the transaction with minimal cash investment. Pillar Stone Healthcare Company, based in Houston, Texas, acquired Baywood Crossing Rehabilitation &... Read More »
Ventas Acquires Class-A Portfolio in Texas and Louisiana
Ventas acquired five Class-A, high-performing seniors housing communities in Texas and Louisiana with upside potential. Built between 2015 and 2019, the communities comprise approximately 90 units each, with a total of 67 independent living, 201 assisted living and 179 memory care units in the Houston and Dallas, Texas, markets and the Lafayette and New Orleans, Louisiana, markets. JLL Capital Markets handled the transaction, representing the seller, a joint venture between Iron Point and Avanti Senior Living. The portfolio, which is entirely private-pay, was operated by Avanti. The purchase price was $147.7 million, or $330,000 per unit. Ventas expects Year 1 metrics to include a... Read More »
Joint Venture Acquires Class-A Arizona IL/AL Community
Principal Asset Management (Principal Financial Group’s investment management division) and IRA Capital announced the acquisition of American Groves, a Class-A seniors housing community in Gilbert, Arizona, for $44.5 million, or $500,000 per unit. The sale was facilitated by JLL Capital Markets on behalf of the seller, American Care Concepts and Reichmann International Realty Advisors, which developed the community in 2021. American Groves is a two-story, 89-unit community, offering independent and assisted living services. Each unit has the ability to transition between independent and assisted living in response to changing resident needs, enabling the community to adapt to future... Read More »
Integrated Senior Foundation Purchases Seniors Housing Portfolio
JLL Securities and JLL Capital Markets arranged $79.32 million in tax-exempt, floating-rate bank financing for Integrated Senior Foundation’s acquisition of three well-performing seniors housing communities in Oregon (2) and Montana. JLL secured a low spread bridge loan, financing the acquisition at 103% loan to cost. The JLL Securities team was led by Greg Fawcett as placement agent, and the JLL Capital Markets Seniors Housing team was led by Senior Director Alanna Ellis and Associates Alex Sheaffer and Erik Cassella. The three assets collectively comprise 155,058 square feet and feature 287 units, including 23 independent living, 190 assisted living and 74 memory care units. They... Read More »
A Missouri SNF Turnaround and a Tennessee AL Conversion
Andrew Montgomery and Jeremy Warren of Montgomery Intermediary Group stayed active throughout the summer, beginning with a couple of closings in the Midwest. In addition to those closings, the team facilitated the sale of a skilled nursing facility in a smaller Central Missouri market. Built in 1967, the facility features more than 90 beds and was between 35% and 40% occupied at the time of sale. The seller was a local Missouri owner, and the buyer was a repeat MIG client. The turnaround asset is in a rural area, and while the purchase price was not disclosed, it was said to be in line with similar deals that MIG has closed in comparable Missouri markets. Montgomery and Warren also handled... Read More »Schedule a demo
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