Joint Venture Secures Financing for Two Standalone-Memory Care Communities
BWE, together with Blueprint Capital Markets, closed two loans totaling $17.82 million to provide financing for the acquisition of two Class-A memory care communities: Windsong at Southridge ($10.42 million) and Windsong at Eola Hills ($7.4 million). Lundat Kassa of BWE handled the financing, having been brought onto the deal by the team at Blueprint, led by Senior Managing Director, Kristen Ahrens. Both acquisition bridge loans, which have five-year terms, 72% loan-to-cost and no-prepayment penalties, are non-recourse with fixed and competitive rates. BWE will provide permanent financing for the properties through HUD, a process that has already begun for Windsong at Southridge, which... Read More »
Montgomery Intermediary Group Announces M&A and Financing Activity
Montgomery Intermediary Group continued its active 2025 with a financing and two recent M&A closings. First, Jeremy Warren worked on behalf of an owner/operator seeking to recapitalize a 210-unit assisted living community that was originally a purpose-built hotel. The goal was to generate cash for ownership and to finance cosmetic renovations to enhance the property’s appeal. The owner had previously approached a few lenders but was unsuccessful in securing favorable financing terms. That’s when they engaged MIG to lead a debt arrangement process. The effort resulted in multiple term sheets, with the most competitive offer coming from a regional credit union actively looking to... Read More »
Welltower Acquires Large SNF Portfolio
In its first quarter earnings release, Welltower revealed that it acquired a portfolio comprising 48 skilled nursing facilities for nearly $1 billion. The price consisted of $750.83 million of cash consideration and $240.01 million of common stock consideration, totaling $990.84 million. In connection with the closing, the acquired properties were leased to Aspire Healthcare under a long-term, triple-net master lease. The portfolio currently has enough cash flow to cover one year’s rent, and the facilities had an average occupancy in the mid-60% at the time of closing. The deal previously fell through, allowing Welltower to negotiate a significant price reduction “to the tune of a couple... Read More »
Atlas Senior Living Grows in Alabama
Birmingham-based operator Atlas Senior Living is increasing its scale in northern Alabama, having acquired Thrive at Jones Farm in Huntsville. Atlas also operates The Goldton at Athens, Monark Grove Madison, and Madison at The Range, with Goldton being its luxury brand. The Huntsville location will be renamed The Goldton at Jones Farms. Built in 2017 by a joint venture between Harrison Street, local investors and Thrive Senior Living, the community has 93 units of assisted living and memory care. As part of the transition to Atlas, the community will be implementing new technology through partnerships with Alexa and Speak2. Speak2 empowers seniors to use simple voice commands to make... Read More »
Corum Asset Management Acquires PACE Medical Facility
JLL Capital Markets completed the sale of WelbeHealth Fresno Center, an 18,869-square-foot, Class-A PACE medical facility in Fresno, California. The seller was Turner Impact Capital’s Turner Healthcare Facilities Fund, a growing social impact investment fund, which was represented by JLL in the deal. JLL also procured the buyer, Corum Asset Management, a French investment firm that manages over $9 billion in real estate and alternative investments. This was the first transaction between JLL and Corum. WelbeHealth – Fresno Center was originally built in 1975 and renovated in 2020. The fully leased facility is part of the PACE (Program of All-Inclusive Care for the Elderly) healthcare... Read More »Schedule a demo
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