• Reliq Health Technologies Adds 30 SNF Clients

    Reliq Health Technologies, a global healthcare technology company involved in virtual care, announced that it added 30 new skilled nursing facility clients to a previously disclosed contract with a large healthcare network in Florida. The deal is expected to result in over 3,000 new patients per month using Reliq’s iUGO Care platform, which... Read More »
  • Ziegler Finances South Carolina CCRC Expansion

    Ziegler closed $29.2 million in Series 2023A and B bonds for Bishop Gadsden Episcopal Retirement Community, a not-for-profit CCRC on James Island in Charleston, South Carolina. The financing will help fund the construction of an independent living expansion on the campus and comes four years after Ziegler also helped finance the construction of a... Read More »
  • 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... Read More »
  • 1031 Crowdfunding Enters Utah Market

    1031 Crowdfunding announced the acquisition of its first seniors housing communities in the state of Utah. The two assets combine for a total of 178 units of assisted living and memory care. Built in 2011 and 2016 respectively by the same developer, Spring Gardens St. George and Spring Gardens Lindon total 156,473 square feet across 5.8 acres.... Read More »
  • Stellar Senior Living Acquires Assisted Living Community in Utah

    Blueprint Healthcare Real Estate Advisors announced the sale of an assisted living community in South Jordan, Utah. Built in 2018, Anthology of South Jordan comprises 103 units of independent living, assisted living and memory care, and sits on 3.7 acres in the greater Salt Lake City area. The new owner is Stellar Senior Living, which renamed the... Read More »
Ziegler Finances South Carolina CCRC Expansion

Ziegler Finances South Carolina CCRC Expansion

Ziegler closed $29.2 million in Series 2023A and B bonds for Bishop Gadsden Episcopal Retirement Community, a not-for-profit CCRC on James Island in Charleston, South Carolina. The financing will help fund the construction of an independent living expansion on the campus and comes four years after Ziegler also helped finance the construction of a replacement health center and renovation/expansion of the campus’s assisted living portion. Bishop Gadsden opened in 1987 on land donated by St. James Episcopal Church, and now includes 268 independent living units, 79 assisted living units, 32 memory care units, 32 post-acute skilled nursing beds, and 68 long-term care beds on 125 acres. The... Read More »
Lument Refinances Sacramento-Area Assisted Living Community

Lument Refinances Sacramento-Area Assisted Living Community

Lument closed a $7.5 million Fannie Mae loan to refinance Carlton Senior Living, a 56-unit assisted living community in Sacramento, California. Nick Hamilton, Casey Moore and Doug Harper led the transaction for Lument. A repeat Lument client refinanced its existing Fannie Mae loan with a new seven-year loan that features a 30-year amortization and a low, fixed interest rate. Built in 2008, Carlton Senior Living is located on the Carlton Senior Living Continuum of Care Campus, next to a 128-unit AL/memory care community that was also refinanced in 2016 by Lument. When it first opened, Carlton Senior Living was serving high acuity AL residents, but in 2021, the sponsor altered its strategy... Read More »
Ziegler Finances South Carolina CCRC Expansion

Dwight Capital Announces 4th Quarter Activity

Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed $191 million in seniors housing and healthcare financing during the fourth quarter of 2022. One highlight included a $39 million bridge loan to facilitate the acquisition of a two-property skilled nursing portfolio in Fort Lauderdale, Florida: Manor Oaks and Manor Pines. The facilities are three miles apart and comprise 322 beds across approximately 111,800 square feet. Adam Offman originated the transaction. Mr. Offman also originated a $24.2 million bridge refinance for a portfolio of two SNFs in Columbus and Rome, Georgia: River Towne Center and Etowah Landing. Together, the facilities have 310 beds and encompass... Read More »
Cain Brothers Handles Massachusetts SNF Bond Financing

Cain Brothers Handles Massachusetts SNF Bond Financing

Cain Brothers, a division of KeyBanc Capital Markets, has announced the closing of a $24.6 million Massachusetts Development Finance Agency Revenue Bond on behalf of D’Youville Senior Care in Lowell, Massachusetts, and its sponsor, The Carmelite System. Proceeds from the bonds were used to refinance two existing bank loans, fund capital improvements on the D’Youville’s campus and pay costs of issuance. The refinancing addressed future interest rate risk by avoiding future expensive call premiums on the prior loans and providing near-term cash flow relief to D’Youville. In addition, Cain Brothers served as swap advisor to the sponsor on a long-dated, fixed-pay interest rate swap with a... Read More »
Kandu Capital Refinances Its Turnaround Property in Indiana

Kandu Capital Refinances Its Turnaround Property in Indiana

Kandu Capital, LLC, a real estate and health care-focused family office, and its seniors housing operating company, Bloom Senior Living, refinanced its 78-unit assisted living/memory care community in Kokomo, Indiana. Bloom at Kokomo was acquired in May 2019 from Capital Senior Living Corporation (now Sonida Senior Living) for $5 million, or $64,000 per unit. At the time, occupancy was 80%, revenue was just over $3 million, and the community was losing money. However, Bloom management projected EBITDA could grow to at least $750,000. And we profiled the turnaround late last year in a story called “A Successful Turnaround, Twice.” Long story short, in just over three years and during the... Read More »
Blueprint Sells Nebraska Community & Helps Arrange Acquisition Financing

Blueprint Sells Nebraska Community & Helps Arrange Acquisition Financing

Cedarhurst Senior Living acquired a well-occupied senior living community in Omaha, Nebraska, from a multi-asset class Midwestern developer. The A-quality building features 110 units of assisted living and memory care, and was consistently above 95% occupancy throughout the sale process. Still, there was upside in rental rates, and expenses could be potentially reduced under new ownership. So, the seller engaged Brooks Blackmon and Alex Florea of Blueprint Healthcare Real Estate Advisors to market and sell the property. Ultimately, Cedarhurst, a vertically integrated developer, owner and operator, emerged from a competitive bidding process to buy the community and retained Blueprint... Read More »