Stay up-to-date on skilled nursing and assisted living businesses, retirement communities, REITs and home health care with The SeniorCare Investor newsletter. For over 50 years, The SeniorCare Investor has been tracking mergers, acquisitions, equity & debt financings, bankruptcies and corporate shake-ups in the senior care market.
Peace Capital and its affiliated operator Complete Care Management acquired a senior care portfolio number some 930 beds in Ocean County, New Jersey, for approximately $169 million, or about $181,700 per bed. The financing for the deal came from a couple different sources. As part of its effort to deploy up to $1 billion into […]
Patrick Shearer of KeyBank Real Estate Capital’s Commercial Mortgage Group secured $28 million of HUD financing for three seniors housing communities in Pennsylvania owned by Baltimore-based Persimmon Ventures, LLC and operated by Live Cardinal. All three communities offer assisted living and memory care services. Built in 1994 in Landisville, the largest property has 135 beds […]
Grant Goodman, Doug Harper and Casey Moore of Lancaster Pollard worked on behalf of Agemark Senior Living Communities to refinance its 36-unit memory care community in Kearney, Nebraska. Placed with Protective Life Insurance Company, the $8 million term loan also allowed Agemark to extract equity from the property. The parties involved in this transaction have […]
A Charleston, South Carolina-based developer, WV Ventures, engaged Alec Blanc of Monarch Advisors (an affiliate of Senior Living Investment Brokerage) to close construction financing for a to-be-built senior living community in southern Georgia. The 80-unit project received senior and mezzanine debt equal to 75% of its total development cost. Monarch secured the senior loan from […]
Five communities owned and operated by Brookdale Senior Living for over 10 years received a $160.3 million credit facility through Fannie Mae. Aron Will, Austin Sacco and Matthew Kuronen of CBRE arranged the debt, which is a blend of fixed-rate (about 75% of the principal) and floating-rate (the remaining 25%) with a 10-year term and […]
Housing & Healthcare Finance (HHC Finance) closed $24 million in HUD financing for a portfolio of three skilled nursing facilities with a total of 264 beds in Tennessee. The experienced borrower refinanced conventional debt with the transaction. Built in 1964, 1997 and 2007, the three properties ranged in occupancy from the low- to mid-80s. HHC […]
A brand-new senior living community is being built in the Philadelphia, Pennsylvania market with funding facilitated by Grandbridge Seniors Housing and Healthcare Finance Group. Set to open in 2020, the project will feature 160 units of independent living, assisted living and memory care in the town of Limerick. It is being developed by Vantage Point […]
The Portopiccolo Group picked up another two skilled nursing facilities, following its acquisition of a North Carolina SNF earlier this summer. The most recent targets included a 130-bed pediatric and geriatric rehab facility in Dunn Loring, Virginia (Washington, D.C. MSA), and a 74-bed skilled nursing facility in Silver Spring, Maryland (also D.C. MSA). Accordius Health, […]
Berkadia has been busy this August, closing the sale of one senior living community and arranging financing for the development of another one. Joe Leon and Michael Thagard handled the sale, which featured a 310-unit independent living community in Westminster, California. The seller was the Zinn Group, controlled by the Zinngrabe family which had owned […]
Three and a half years after entering into a joint venture to develop a 207-unit senior living community in Katy, Texas, Blue Moon Capital Partners and LCS have turned to CBRE to refinance the property. Situated on 10.35 acres, the community was developed using the Blue Moon Senior Housing I LP Fund, a $250 million […]