Colliers Secures Construction Loan For Michigan Senior Care Campus
Christopher Fenton, Catherine Eby, Nick Skarich and Kevin McMahon of Colliers Mortgage closed a $19.4 million construction loan for the development of an independent/assisted living and skilled nursing campus in Hudsonville, Michigan. Expected to open in spring 2024, the 107-unit community will feature a combination of studio, one-bedroom and two-bedroom units. Amenities will include a bistro, lounge and large community spaces. The loan comes with a 48-month term with one 12-month extension option. Read More »
BWE Adds Seniors Housing Investment Sales Group
There’s a new seniors housing and care investment sales group in town. BWE Investment Sales, LLC (BWEIS), the investment sales organization that works closely with BWE, a national commercial and multifamily mortgage banking company, announced today the launched its new seniors housing platform, dubbed BWEIS Seniors. It will be headed by Charles Bissell, most recently a Managing Director with JLL’s Capital Markets Group and a veteran seniors housing leader with over 30 years of experience in the industry. The BWEIS Seniors team will partner with the BWE seniors housing debt and structured finance team to offer a full suite of capital markets solutions to their best-in-class clients across... Read More »
60 Seconds with Swett: 2023 Deal Volume at 2019 Levels
Dealmakers have a lot to be frustrated with in the M&A market right now, with valuations low, deal processes taking longer than ever, scarcity in the debt markets and other headwinds making their impact. But despite it all, deal volume was actually historically healthy in the third quarter of 2023. There were 115 publicly announced transactions in the quarter. That is down from the 120 deals made public in Q2:23 and the 140 from last year’s third quarter. But the average deals per quarter for 2023 at 115 is equal to the average deals per quarter in 2019, a time of cheap and abundant capital and before anyone knew what COVID-19 was. Plus, on an annualized basis, Q3’s total would... Read More »
TJM Properties Re-enters Senior Living Sector
In 2013, Clearwater, Florida-based TJM Properties sold 15 of its 19 senior living communities to Fortress Investment Group/Holiday Retirement for $220 million, effectively exiting the sector to focus on the hotel industry and its remaining senior living communities. However, TJM has recently re-invested in the sector through the acquisition of five separate senior living communities in Florida in 2023. Interestly, these five communities were part of the 15-community portfolio that the company had previously divested. TJM initiated its return to the sector in February with the purchase of Bayside Terrace, a 162-bed senior living community in Pinellas Park, Florida. The acquisition was... Read More »
60 Seconds with Swett: New NORC Study Great for Senior Care PR
The seniors housing and care market is fighting an often uphill battle to fix its public perception, and providers got a significant tool in their marketing arsenal when NORC at the University of Chicago released a study on how frailty levels among seniors ultimately decline after their moving into seniors housing or skilled nursing properties. NIC funded the study through a grant, and it will certainly be highlighted heavily throughout the upcoming Fall conference, and for good reason. In a review of Medicare claims of residents from more than 14,000 senior living properties and using a frailty index developed by Harvard University that measures rates of chronic conditions, acute... Read More »Schedule a demo
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