• Brookdale’s June Occupancy Should Be Higher

    Brookdale Senior Living reported June and second quarter 2024 occupancy, and while census increased, is it enough to carry them through next year’s winter season? Probably not, unless they have a huge July and August, which is possible, but not likely. Weighted average occupancy for June came in at 78.2%, up 10 basis points sequentially, but... Read More »
  • All-Cash Buyer Purchases AL/MC Community in Washington

    The Zett Group was engaged by an owner/operator in the divestment of a seniors housing community it had owned for 33 years in Central Washington. The community comprises 60 units of assisted living and memory care. The buyer was an owner/operator based out of Seattle.  Blake Bozett handled the transaction, having called nearly every... Read More »
  • Joint Venture Acquires Two Communities in Michigan

    JLL arranged the sale of two seniors housing communities in the Detroit, Michigan MSA. JLL represented the seller and procured the joint venture buyer, spearheaded by MedCore Partners. American House Senior Living Communities assumed management of both communities.  Built in 2017, Anthology of Troy comprises 93 assisted living/memory care... Read More »
  • Pace Secures Financing for Minnesota CCRC

    Pace Loan Group closed a $7.1 million PACE loan on a 134-unit new construction, market-rate senior living community in St. Francis, Minnesota. The 20-year loan complements a $30 million qualified tax-exempt loan on the project using Series 2023A bonds with Sunrise Bank as the senior lender. The project team also included Pope Architects and Bauer... Read More »
  • 60 Seconds with Swett: Overturning Chevron and the Effects on M&A

    There has been a lot of news to analyze from Washington, D.C. in the last couple of weeks, and the result of the 2024 election will certainly impact the operational and investment landscape in senior care. But we are still wrapping our heads around perhaps the most consequential news of late for the industry, which was the Supreme Court’s... Read More »
Greystone Secures Arizona HUD Refinance

Greystone Secures Arizona HUD Refinance

Greystone provided a $29.4 million HUD loan to refinance a skilled nursing facility in Tucson, Arizona. The permanent loan carries a 35-year term and amortization. Sandstone of Tucson Rehab Centre in Pima County comprises 240 beds in 127 units, with 43 private and 84 semi-private rooms. Eric Rosenstock handled the transaction on behalf of Sapphire of Tucson Properties. Read More »
Berkadia and Poppy Bank Close Portfolio Financings

Berkadia and Poppy Bank Close Portfolio Financings

Berkadia announced it worked with Poppy Bank to close 12 different loans totaling over $329.7 million of bridge debt in April, May and June. The 12 properties include a portfolio of six, a three-pack and three individual properties. Together, the assets comprise 1,597 units. Chris Cain and Steve Ervin secured the financing. Read More »
CFG Originates HUD Financing Package

CFG Originates HUD Financing Package

Capital Funding Group announced the closing of a $42 million HUD financing package on behalf of a nationally recognized borrower. The package included three loans supporting the refinance of existing bridge loans for three skilled nursing facilities: a $9.8 million HUD loan to support an 80-bed facility in Idaho, a $21.6 million HUD loan to support a 101-bed facility in Washington and a $10.6 million HUD loan to support a 108-bed facility in Washington. Tim Eberhardt and Ava Julio handled this transaction. This financing follows CFG’s recent announcement of the closing of a bridge-to-HUD loan totaling $9.75 million on behalf of a nationally recognized borrower. The loan supported the... Read More »
Dwight Capital Finances SNF Portfolio Deal

Dwight Capital Finances SNF Portfolio Deal

Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed a $142 million bridge acquisition loan for a portfolio of 10 skilled nursing facilities in prime Southeast urban markets in Georgia (Atlanta), Tennessee (Memphis), Alabama (Mobile) and Louisiana (Shreveport). The properties include Bell Minor Home, Cambridge Post Acute Care Center, Nurse Care of Buckhead, Riverside Health Care Center, Rockdale Healthcare Center, Westminster Commons, Millington Healthcare Center, Parkway Health and Rehabilitation Center, Kensington Health and Rehabilitation, and Highland Place Rehabilitation and Nursing. Altogether, the facilities total 1,371 beds. Adam Offman handled this transaction... Read More »
Dwight Capital Finances SNF Portfolio Deal

National SNF Portfolio Secures Refinancing

IDB Bank served as the administrative agent on a $201.5 million bridge-to-HUD loan to refinance existing debt for a national portfolio of 21 skilled nursing facilities in North Carolina, Michigan, Georgia and Texas. The facilities comprise 2,500 beds, have decent occupancy and are performing well. Facility ages varied, and there were multiple operators across the portfolio. As administrative agent, IDB will hold $100 million of the debt, and the syndicated deal involved two additional banks. The term length is three years, with no extension options. The goal is to take it to HUD within the next three years. Michael Palermo, John Bertolozzi and Thierry Decembre handled the... Read More »
New Perspective Accelerates Growth Mode

New Perspective Accelerates Growth Mode

New Perspective Senior Living, a fast-growing senior living company with 40 communities across eight states, secured more than $200 million in bridge debt, preferred equity and common equity with its partners, BMO Commercial Real Estate, Fengate and Boldt, to facilitate the acquisition and financing of six senior living communities with over 800 combined units. The joint venture has established a programmatic relationship to pursue $500 million in future acquisitions and developments. One of the senior living communities is situated in West Fargo, North Dakota. Four others are in Wisconsin, encompassing the areas of Sun Prairie, Brown Deer, Franklin and Waukesha. The sixth community is in... Read More »