• JLL Announces Seniors Housing Portfolio Deal

    The JLL team got off to a prolific start this January, already handling a couple of transactions across 17 seniors housing properties. The big one involved the sale of 16 seniors housing communities previously owned by a publicly traded REIT. Totaling more than 1,800 units, these communities were located in three states and consisted of... Read More »
  • Blueprint Sells a SNF in Louisiana

    Brooks Blackmon of Blueprint Healthcare Real Estate Advisors headed down to the bayou to sell a 120-bed skilled nursing facility in Oak Grove, Louisiana (near the border of Arkansas). Built in stages from the 1960s through 1987, the facility had been owned by multiple generations of a local family since its opening, and now they are... Read More »
  • Recent Senior Care M&A Deal Chart, Week Ending January 22, 2021

    The M&A market was on fire in the last month of 2020, and got off to a fast start in 2021. Check out our recent senior care M&A deal chart. Long-Term Care   AcquirerTargetPrice Non-traded REIT16 seniors housing communitiesN/A Local individualAssisted living community in San Antonio, TXN/A Regional owner/operatorCarroll Nursing... Read More »
  • Lakeland Bank Finances Skilled Nursing Expansion in NJ

    A skilled nursing owner/operator in Morris County, New Jersey (New York City MSA) obtained financing from Lakeland Bank to expand and improve its services in the state. The $4.1 million loan will help fund renovations to underutilized space and increase the number of available licensed beds at the unnamed facility.   The... Read More »
  • Jon Harder Gets Sentence Commuted

    When was the last time anyone thought about Jon Harder, the founder and CEO of Sunwest Management who was sentenced to 15 years in prison for the “misuse of investment funds during the real estate crisis” of 2007 to 2009? Well, that is an understatement if we ever saw one. At its height, Sunwest was one of the largest senior living... Read More »
Lakeland Bank Finances Skilled Nursing Expansion in NJ

Lakeland Bank Finances Skilled Nursing Expansion in NJ

A skilled nursing owner/operator in Morris County, New Jersey (New York City MSA) obtained financing from Lakeland Bank to expand and improve its services in the state. The $4.1 million loan will help fund renovations to underutilized space and increase the number of available licensed beds at the unnamed facility.   The projects were not expected to disrupt day-to operations, according to Ron Krauskopf of Lakeland’s Healthcare Banking group, who worked on the transaction. Lakeland Bank is the wholly-owned subsidiary of Lakeland Bancorp, Inc., which has over $7 billion in total assets.  Read More »
Capital Funding Group Announces 2020 Financing Total

Capital Funding Group Announces 2020 Financing Total

When the figures were tallied, Capital Funding Group (CFG) had quite a successful 2020, financing in excess of $1.8 billion for its long-term care and assisted living clients across the country. Nearly double the $1 billion in closings in 2019, that total includes more than $1.8 billion across 51 bridge loans, 63 HUD loans and 23 lines of credit.   In addition, CFG closed over $68.2 million in A/R lines of credit. During the tumultuous year, CFG also launched a new off-balance sheet financing program called CFG Captial Partners, which significantly expanded its bridge lending capability. On to 2021.  Read More »
Creativcap Closes Two Transactions

Creativcap Closes Two Transactions

Scott Kavel of Creativcap announced a couple of financings that showed off the company’s range of services. First, Creativcap provided a $6.0 million mezzanine loan to support the construction of an assisted living/memory care community in Southern California. This was the fourth mezzanine loan closed for the regional developer client, all totaling nearly $35 million.   The project in question will feature 153 total units, split between 99 assisted living and 54 memory care units on a 6.4-acre campus. Included on site will be a standalone marketing building with four model units, which should facilitate tours to potential residents without entering the main... Read More »
HJ Sims Handles CCRC Bond Refinance

HJ Sims Handles CCRC Bond Refinance

HJ Sims worked on behalf of The Bethel Methodist Home, a not-for-profit CCRC in Valhalla, New York, to refinance the property’s existing acquisition bonds. Opening in 2002 and offering a continuum of services from independent living to skilled nursing, the property experienced financial difficulty during the Great Recession (few entrance fee CCRCs escaped that fate) and ultimately filed for bankruptcy protection in 2015. That process resulted in a 2016 sale which was funded by both tax-exempt and taxable bonds privately placed with a single bond holder and coming with a high interest rate.   New management turned around the operations, with occupancy rising from 57% to 91% just before the... Read More »
Keybank Secures Fannie Mae Refinance For Five Communities

Keybank Secures Fannie Mae Refinance For Five Communities

KeyBank Real Estate Capital secured Fannie Mae financing for a portfolio of five seniors housing communities in several states operated by Enlivant. The long-term, non-recourse debt was secured by Charlie Shoop at an attractive interest rate. Plus, KeyBank’s Tim Sylvain, Paul Di Vito and Patrick Gilbreath originated and structured a balance sheet financing that extended the revolving lines of credit to other seniors housing properties operated by Enlivant.  Read More »
Dwight Capital Announces Both Bridge Loans and Agency Financings

Dwight Capital Announces Both Bridge Loans and Agency Financings

Dwight Capital ended 2020 with a bang, with more than $117 million of healthcare financings closed during the fourth quarter. The volume included a few bridge acquisition loans for senior care facilities across the country, starting with $15 million in bridge and mezzanine debt for the acquisition of three assisted living/skilled nursing facilities in Kansas. Adam Sasouness originated the transaction as well as a $13.95 million bridge loan for the Laurels Portfolio, which consists of three properties in northeast Ohio with 313 beds of assisted living and skilled nursing.   Previously owned by a REIT, the facilities were originally built in the 1960s and 1970s, with significant renovations... Read More »