• Not-For-Profit Expands Texas Footprint

    Buckner Retirement Services, Inc., a not-for-profit senior living provider, acquired a CCRC in Texas. This will be the seventh senior living community owned/operated by Buckner in the state. The seller, Lifespace Communities Inc., acquired the community in 2019 and has operated it since. Lifespace was focused on finding a buyer with similar... Read More »
  • Fast-Growing SNF Operator Files for IPO

    There may be a new publicly traded senior care company on the horizon, as PACS Group, a Utah-based skilled nursing operator with more than 200 facilities in its current portfolio, filed for an initial public offering with the SEC on March 13. It plans to list on the NYSE under the symbol PACS. The company is barely 10 years old but has grown its... Read More »
  • Ziegler Handles Chicago SNF Deal

    A for-profit buyer is taking over ownership of a not-for-profit skilled nursing facility in an affluent north Chicago suburb. Ziegler acted as advisor to the Illinois-based not-for-profit seller, with Managing Director Nick Glaisner leading the transaction and Melanie Shaffer in support.  This was an older, multi-story facility, having been built... Read More »
  • Blueprint Sells Plano Property

    Blueprint facilitated the sale of a seniors housing community in Plano, Texas. Built in the late 1990s, the community offers 65 units of assisted living and memory care. The buyer was a regional owner/operator looking to expand in the state. The seller, a developer/investor, is divesting the community after selling over 12 geographically... Read More »
  • Dwight & Co Adds to Services and Team

    Dwight & Co has expanded its seniors housing and healthcare financing solutions by launching working capital revolving lines of credit (revolvers). The company also announced a couple of new hires.  The revolvers will integrate into Dwight’s existing bridge, mezzanine, and HUD healthcare lending platform, providing a comprehensive... Read More »
Carnegie Capital Finances Two SNF Acquisitions

Carnegie Capital Finances Two SNF Acquisitions

JD Stettin of Carnegie Capital could not get enough of Texas this month, closing two loans for skilled nursing facilities in the state before attending the NIC Conference in Dallas. Both loans facilitated acquisitions of the facilities. In one, Stettin arranged the assumption of a HUD loan on a 120-bed SNF in west Texas, which carries a sub-3% rate and represented 75% of the purchase price.  The same seller also divested a 150-bed SNF in west Texas, after its relationships with local admissions sources faded over the last year. That led to a substantial decrease in the Medicaid census and cash flow, and upon closing the acquisition, the facility’s EBITDAR was negative, excluding QIPP... Read More »
Colliers Closes Construction Loan in Michigan

Colliers Closes Construction Loan in Michigan

Christopher Fenton and Catherine Eby of the seniors housing team at Colliers Mortgage, in conjunction with Nick Skarich and Kevin McMahon of Colliers Funding, closed a $21.6 million construction loan for the development of an independent/assisted living and skilled nursing campus in Muskegon, Michigan. The 105-unit community will feature a combination of studio, one-bedroom, and two-bedroom units. Amenities include a main dining room, bistro, lounge, and large community spaces. The term of the loan is 48 months, with one 12-month extension option. Read More »
Meridian Capital Group Kicks Off 2024

Meridian Capital Group Kicks Off 2024

Starting off 2024 on a positive note, Meridian Capital Group’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson, closed $375 million in transaction volume for 23 seniors housing and healthcare facilities in the first two months of the year. This activity follows more than $5 billion closed by the platform in 2023. The highlight was the closing of $260 million in debt from a commercial bank for the refinance of 12 skilled nursing facilities totaling 1,512 beds in the Northeast and $78.3 million in acquisition financing from a finance company and mezzanine lender for eight skilled nursing facilities comprising 705 beds in Minnesota. Meridian also arranged $13... Read More »
JLL Refinances Construction Debt on Minnesota Community

JLL Refinances Construction Debt on Minnesota Community

JLL Capital Markets arranged financing for Elk River Senior Living, a community built in 2018 comprising 108 units of independent living, assisted living and memory care in Elk River, Minnesota. The refinancing, facilitated through HUD, amounts to $18.7 million, or $173,000 per unit. Jeff Lepley and Alex Sheaffer worked to secure the financing. This financing consolidated five different debt obligations that were associated with the construction of the project.  Hearth Development built the community and was the borrower. Marquis Senior Communities operates it. 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 »
Carnegie Capital Finances Two SNF Acquisitions

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 »