• National Developer/Investor Divests in Florida

    Blueprint was engaged by a national developer/investor in its divestment of a value-add, but newer vintage, Class-A seniors housing community in Lake Worth Beach, Florida. As part of a broader portfolio review, the ownership group decided to divest to de-lever and conserve liquidity within the fund that held this community. Built in 2019, this... Read More »
  • Recovery Continues at Sabra Health Care REIT

    After all the earnings reports for the fourth quarter 2023, we think it is safe to say the industry really has moved on from the pandemic. Not that the lasting effects have disappeared, as they may be with us for the rest of the decade, but most everyone seems to be getting back to “normal,” although at a different pace for each one. Sabra Health... Read More »
  • Georgia Seniors Housing Community Trades

    Blueprint was brought on in the divestment of a purpose-built seniors housing community in Kennesaw, Georgia. The community was built in 1999 and comprises 37 assisted living and memory care units. We suspect this is another former Enlivant property. Kyle Hallion, Amy Sitzman and Giancarlo Riso marketed the opportunity alongside 16+ seniors... Read More »
  • Cushman & Wakefield Hires Jason Skalko

    After its entire seniors housing team left for JLL earlier in 2023, Cushman & Wakefield has started to rebuild, announcing the hire of Jason Skalko as Managing Director. Skalko comes from JLL and will be based in the firm’s Tampa office to specialize in senior living and care investment sales throughout the United States. A graduate of the... Read More »
  • 60 Seconds with Swett: Memory Care Still Commands a Premium

    We are just a couple of days away from publishing the 29th Edition of The Senior Care Acquisition Report, which is available to all LevinPro LTC and LTC News subscribers as part of their subscriptions, and the impact of the capital markets upheaval on valuations affected nearly all property types in 2023. Still, a few historical norms remained.... Read More »
Georgia IL/AL Community Changes Hands and Receives Financing

Georgia IL/AL Community Changes Hands and Receives Financing

CBRE Capital Markets completed the sale and financing of an independent living and assisted living community in the Atlanta, Georgia MSA. The community, Arbor Terrace Peachtree City, comprises 146 units in Peachtree City and includes a host of amenities.  The buyer was GEM Realty Capital, a Chicago-based real estate investment company with over $6 billion in assets under management. John Sweeny, Aron Will and Garrett Sacco represented the seller. Will and Michael Cregan also arranged an acquisition loan via CBRE’s Freddie Mac Optigo lending platform. Read More »
United Methodist Retirement Homes Secures Funding

United Methodist Retirement Homes Secures Funding

Ziegler announced the pricing of a bond series closed for The United Methodist Retirement Homes, totaling $67.18 million in Series 2024A and 2024B bonds. The United Methodist Retirement Homes is a North Carolina not-for-profit that owns and operates three CCRCs in the Tarheel State. The three communities consist of a total of 690 independent living units, 28 memory care units, 112 assisted living units and 194 skilled nursing units, which ranks UMRH as the third largest not-for-profit senior living operator in North Carolina. Since 2000, UMRH has been managed by Life Care Services, the third largest operator of senior living communities in the nation. UMRH, with the assistance of LCS... Read More »
JLL Secures Acquisition Financing for Two AL/MC Communities

JLL Secures Acquisition Financing for Two AL/MC Communities

JLL Capital Markets arranged acquisition financing for two assisted living and memory care communities in Iowa on behalf of affiliates of Jaybird Senior Living. Both communities were managed by Jaybird prior to the acquisition. The communities, Vintage Hills of Indianola and Country Meadow Place, total 118 units combined. Vintage Hills comprises 62 units in Indianola, Iowa, and Country Meadow Place is in Mason City, Iowa, with 56 units.  Jeff Lepley and Alex Sheaffer of JLL handled the transaction, securing two loans totaling $17.87 million, or $151,000 per unit, representing around 81% of the total purchase price, putting the purchase price above $22.0 million, or $186,000 per... Read More »
United Methodist Retirement Homes Secures Funding

Monarch Advisors Secures Construction Debt

Monarch Advisors is on a roll. After recently sourcing acquisition debt for a skilled nursing facility in Topeka, Kansas, Alec Blanc has arranged construction financing for the development of a new 105-unit/124-bed senior care property with independent living, assisted living and skilled nursing in Muskegon, Michigan. The sponsor, based in Louisville, Kentucky, engaged Monarch to source debt totaling $21.6 million, or about 67% of the cost of the project.  Blanc secured a construction/mini-perm loan commitment from a national mortgage bank’s loan participation program with a four-year term and one 12-month extension option. Payments will be interest only at SOFR+3.25% for the... Read More »
CFG Finances Over $1.7 Billion in 2023

CFG Finances Over $1.7 Billion in 2023

Capital Funding Group announced the company executed or arranged more than $1.7 billion in financing across 50 deals in 2023. These financings included 24 healthcare bridge-to-HUD loans, five multifamily bridge loans and 11 HUD loans. Financing of the multifamily bridge-to-HUD loans totaled approximately $49.7 million of the company’s annual financing. In that timespan, CFG closed numerous refinances, including: $7.2 million HUD loan for a 75-bed skilled nursing facility in Ohio. $15.5 million HUD loan for a 118-bed skilled nursing facility in Arizona. $43.4 million HUD loan for a 140-bed skilled nursing facility in California. $13.8 million mezzanine loan for 12 long-term care facilities... Read More »
CBRE Refinances Two Coastal Communities

CBRE Refinances Two Coastal Communities

CBRE National Senior Housing arranged a couple of refinances for Class-A assets in major metro areas. The first was closed for Chelsea Senior Living of New City, an 80-unit assisted living/memory care community located 30 miles north of New York City in a high-barrier-to-entry, affluent market. Built in 2021, the community features 56 AL and 24 MC units. It is owned by Capitol Seniors Housing, which brought in Chelsea Senior Living to operate the community.  Aron Will and Adam Mincberg of CBRE originated a $21 million bridge loan through Ohana Real Estate Investors, a national debt fund. The loan featured an interest-only term and a floating rate.  Will and Mincberg also teamed... Read More »