• New Perspective Accelerates Growth Mode

    New Perspective Senior Living, a fast-growing senior living company with 40 communities across eight states, secured more than $200 million in bridge debt, preferred equity and common equity with its partners, BMO Commercial Real Estate, Fengate and Boldt, to facilitate the acquisition and financing of six senior living communities with over 800... Read More »
  • Helios Handles (and Helps Finance) Alabama Deal

    Helios Healthcare Advisors was engaged by a Mississippi-based regional owner/operator in its sale of an assisted living and memory care community in Alabama. The seller, Veritas InCare, was divesting to exit the industry. The selected buyer was a local owner/operator. Andrew Wittenauer, Mario Santiago and Bill Janis of Helios handled the... Read More »
  • Joint Venture Buyer Purchases Vermont Senior Living Portfolio

    CBRE arranged the sale of a portfolio of three seniors housing communities in Vermont. The three communities, The Residence at Shelburne Bay, The Residence at Quarry Hill and The Residence at Otter Creek, comprise 423 units of independent living, assisted living and memory care. The seller, a joint venture between Virtus Real Estate Capital and... Read More »
  • Investment Firm Acquires in Minnesota

    JLL Capital Markets arranged the sale and financing, secured through Freddie Mac, for a Section 8, affordable seniors housing community in Stillwater, Minnesota. Rivertown Commons features 96 units across seven stories with 55,800 total square feet. JLL worked on behalf of the seller, Dominium Management, and procured the buyer, a mission-first... Read More »
  • Foundry Commercial Adds New Hire

    Foundry Commercial announced the addition of John Reinsma as Deal Principal for its Healthcare business within the Development & Investments platform. In his role, Reinsma, who has spent nearly 20 years in the senior living industry, will lead the development and acquisition strategies and investment initiatives for Foundry’s senior living... Read More »
S&R Handles Texas Land Transaction

S&R Handles Texas Land Transaction

Sherman & Roylance closed the sale of an eight-acre development site in Austin, Texas, which was initially envisioned for a senior living community. However, the buyer, Novak Brothers, plans to leverage their expertise and create a new multifamily development in the location. The property, previously approved by the City of Austin for a two-story, 98-unit assisted living and memory care community, faced construction delays and ultimately ended up in foreclosure by Woodforest Bank in September 2023. With the “as designed” construction halted in 2022, with the foundation in place and the framing begun, Sherman & Roylance was tasked with finding a buyer. Read More »
Live Oak Bank Returns to Santee Seniors Housing Campus

Live Oak Bank Returns to Santee Seniors Housing Campus

Live Oak Bank closed a $27.0 million refinance with a repeat client for an assisted living/memory care community, The Ridge at Lantern Crest, situated on a larger campus, Lantern Crest, in Santee, California. Lantern Crest, operated by Lantern Crest Senior Living, is a 34-acre seniors housing campus developed by The Grant Companies. It offers independent living, assisted living and memory care. Development occurred in three phases, with Phase I being The Ridge at Lantern Crest, Phase II being The Pointe at Lantern Crest and Phase III being The Plaza at Lantern Crest.  The Ridge, which opened in 2012, was originally built with 80 assisted living and memory care units. It was expanded... Read More »
The Current Lending Environment for Senior Care Properties

The Current Lending Environment for Senior Care Properties

The financing process has killed dozens (and hundreds) of deals in the last couple of years, and yet M&A activity is near record levels in the seniors housing and care industry. So deals are getting done, and not just with cash. Who has been lending and at what cost to the borrower? What hurdles have to be overcome? And when capital costs do lower, how can owners and operators best prepare to finance the oncoming wave of deals and demographics? Read More »
60 Seconds with Swett: The Development Dilemma

60 Seconds with Swett: The Development Dilemma

The difficult thing about development right now is that it is both a very tough time to build because of higher capital costs but also may be the time that many developers and investors need to start projects. We know, easy for us to say, especially as the Fed signals that rates are likely to stay high for longer and as the 10-year Treasury rate peaks above 4.5% again. But the reality is that if indeed there will be a supply and demand imbalance in a couple of years, then the predevelopment work (if not shovels in the ground) has to start right now because of how long it would take to get those developments open and leased up by the time baby boomers begin turning 80. That process takes a... Read More »
The Benoit Group Finances Atlanta Project

The Benoit Group Finances Atlanta Project

The Benoit Group, in partnership with Atlanta Housing, received financing for the development of Englewood Senior in Atlanta. This affordable seniors housing project marks the first redevelopment phase of a master-planned, mixed-use, multi-plase community on the 30-acre site of the former Englewood Manor public housing site. Built in 1971, Englewood Manor offered 324 public housing units before the residents were relocated in 2007, followed by the property’s demolition in 2009 with HUD approval. The site is located in southeast Atlanta approximately 1.5 miles from Grant Park. Funding for this $72 million project includes federal and state equity tax credit investment by Raymond James and... Read More »
Active Adult Expansion A Hit With Investors

Active Adult Expansion A Hit With Investors

How often have we heard that new development is dead? Or that CCRCs (LPCs) are on their way out? Too often. But how often do you hear about an Active Adult expansion on a CCRC campus, and one with entrance fees? Not often enough. That didn’t stop Three Pillars Senior Living Communities and Cain Brothers from putting together a plan that may really change the 120-year-old CCRC in Wisconsin. Three Pillars was originally founded in 1905 as Masonic Home to provide care for indigent Masons. Today, it has a 50-bed nursing center, 17 memory care units, 52 assisted living units (CBRF), 75 catered living/assisted living units (RCAC) and 123 Type C independent living units.  The rents for the... Read More »