• Invesque Inches Closer to SNF Exit

    Invesque released its fourth quarter and full-year 2022 earnings, and announced that it is making progress in its refocus towards a private pay, seniors housing portfolio. During the fourth quarter and subsequent to year-end, Invesque sold or entered into a purchase and sale agreement for two medical office buildings for a combined $12.03... Read More »
  • Carnegie Capital Secures SNF Bank Refinance

    JD Stettin of Carnegie Capital closed a bank refinance for a 90-bed skilled nursing facility in north central Texas. Built in the 1980s, the facility was acquired by the borrower less than two years ago. It was occupied in the high-80s, and while cash flow was positive (with around 30% of its NOI derived from QIPP revenue), it did not cover debt... Read More »
  • The Mogharebi Group Closes Seniors Housing Sale

    A Los Angeles-based private real estate investment group acquired a 284-unit seniors housing community in Wildomar, California, from Craig Thralls, a local developer. The Mogharebi Group represented Mr. Thralls in the transaction. An entity linked to Positive Investments was the buyer.  Built in 2000, Wildomar Senior Leisure Community features... Read More »
  • Active Adult and Its Impact on Seniors Housing

    Active adult is rapidly emerging as a major subsector within seniors housing, but what are the companies making the biggest plays, how do buyers and lenders value these properties, and what will be the impact on the other seniors housing subsectors? The SeniorCare Investor’s Managing Editor Ben Swett sat down with Mark Myers of Walker &... Read More »
  • Joint Venture Teams Up on Orange County Development

    MorningStar Senior Living, Confluent Senior Living and Concord Development Partners have completed a 166,000-square-foot senior living community in Mission Viejo, California. The 132-unit community, MorningStar of Mission Viejo, broke ground in March 2021 and actually completed ahead of schedule, which does not happen often.  There are studio,... Read More »
Berkadia Announces Three Hires

Berkadia Announces Three Hires

There was some big news out of Berkadia, which announced the addition of Managing Directors Austin Sacco, Cody Tremper and Mike Garbers to its Seniors Housing & Healthcare team. Tremper and Garbers will report to SVP and Co-Head of Investment Sales and Production Mike Miner, and Sacco will report to SVP and Head of FHA and Seniors Housing Finance Steve Ervin. The trio bring a combined 48 years in the seniors housing industry with experience across a variety of asset classes. Coming from JLL, Garbers has over 20 years of experience in the seniors housing industry and has been involved in developing, acquiring and selling over $8 billion in seniors housing properties throughout the... Read More »
About Time, AlerisLife Going Private

About Time, AlerisLife Going Private

The stable of publicly traded seniors housing and care operators continues to shrink, but AlerisLife (ALR) probably should have gone private a couple of years ago having dealt with all of the cons (and SEC fees) of being publicly traded with few benefits. Well, the company announced that it has entered into a definitive agreement with ABP Acquisition LLC (ABP), which is majority-owned by AlerisLife Board of Directors chair Adam Portnoy, for ABP to acquire all outstanding shares of ALR common stock for $1.31 per share in case. That represents an 85% premium to the average trading price of the last 30 trading days of $0.71 per share, or approximately $43.8 million. ABP plans to acquire ALR... Read More »
Erickson Senior Living Planning Big Tampa Bay Project

Erickson Senior Living Planning Big Tampa Bay Project

It may be up for debate exactly when seniors housing development kicks back into high gear to prepare for the oncoming baby boomers, but Erickson Senior Living is planning its next project at its typically large scale to include more than 1,000 units of seniors housing in Lakewood Ranch, Florida. The company is seeking site approvals from Manatee County to build 1,020 independent living units in addition to a 250-bed skilled nursing facility on the site. Phase I of the project would include 660 apartments, and phase II would consist of 360 units along with parking, utility and stormwater infrastructure. There would also be pedestrian bridges that would connect the 10 buildings. Completion... Read More »
Rockwood Capital and Doyenne Healthcare Capital Announce Joint Venture

Rockwood Capital and Doyenne Healthcare Capital Announce Joint Venture

Rockwood Capital and Doyenne Healthcare Capital have announced a new seniors housing joint venture to invest up to $100 million of equity in seniors housing assets across the United States. Doyenne Healthcare Real Estate is a women- and minority-owned real estate investment firm that was established in August 2022 and is headquartered in Chicago, Illinois. Rockwood Capital is a real estate investment management firm founded in 1995 that provides debt and equity capital combined with real estate operating expertise for the repositioning, development, redevelopment and recapitalization of residential, office, retail and hotel space in key markets throughout the United States. Financial terms... Read More »
Denver Developer Doubles Down on Active Adult

Denver Developer Doubles Down on Active Adult

Denver-based Headwaters Group announced its intention to increase its development and acquisition activity within the active adult market. The company recently launched its middle-market active adult initiative and will focus on for-rent communities for adults aged 55 and older in the western half of the United States, initially, with plans to expand nationwide. Headwaters and an unknown joint venture partner plan to build a 169-unit active adult community in Centennial, Colorado and is also under contract for land in Northglenn to build a 169-unit active adult community. In addition to these two Colorado communities, Headwaters is currently in the works for two more projects in Longmont... Read More »
Erickson Senior Living Planning Big Tampa Bay Project

Link Senior Development Building Albuquerque Community

A luxury senior living community is going up in Albuquerque, New Mexico, with the help of construction financing secured by JLL Capital Markets. Alanna Ellis led JLL’s Debt Advisory team on the transaction. Link Senior Development is building the three-story community to include 144 units of independent living, assisted living and memory care, along with a host of amenities. It is situated on 6.5 acres adjacent to a new ambulatory urgent care center and an MOB. Link received a $51.8 million loan to fund the project. Assuming more conservative leverage on the transaction, the construction cost could be between $550,000 and $600,000 per unit. Read More »