• Skilled Nursing: Is There A Market Disconnect?

    On September 29th, 2022, our Editor Ben Swett discussed the skilled nursing M&A market with a couple of industry experts that included Laca Wong-Hammond of Lument and Toby Siefert of Senior Living Investment Brokerage. The conversation ran over an hour and covered SNF values, the current buyer’s mindset, what sellers are thinking and... Read More »
  • Skilled Nursing Facility Sells in Indiana

    A skilled nursing facility in Spencer, Indiana (Bloomington MSA) sold to a group of skilled nursing operators based in Indiana and the Midwest for an undisclosed price. The facility will be renamed Owen Valley Rehabilitation and Healthcare Center. Built in 2006, it has 113 beds, including a 31-bed memory care unit, sitting on 3.52 acres.... Read More »
  • CBRE Refinances Coastal California Community

    California-based owner/operator Westmont and a group of individual investors refinanced their senior living community on the central California coast. Located near San Luis Obispo, The Oaks at Nipomo opened in 2017 with 97 units of independent living, assisted living and memory care. Westmont has operated the community since its opening, and... Read More »
  • Orange County AL Community Finds New Owner

    Scott Frazier of Blueprint Healthcare Real Estate Advisors helped an independent owner/operator exit the seniors housing business with the sale of their only asset in Orange County, California. Built in 1970 and renovated in 2008, the community comprises approximately 70 units of assisted living and memory care. The current owner bought the... Read More »
  • Newmark Sells SNF Portfolio, and a Florida Community Too

    Newmark announced a couple of closings this week. First and most notably, the team sold a portfolio of skilled nursing facilities in New England. Including five facilities in Massachusetts and two in New Hampshire, the portfolio totaled 771 beds, with an average age of more than 50 years. The deal closed at the start of the month. Next, Newmark... Read More »

MidCap Financial Closes Acquisition Loan

MidCap Financial recently closed a $37.8 million floating rate first mortgage that funded the purchase of a 223-uint retirement community. Located in ChampionsGate, Florida, near Orlando, the community has 114 independent living units, 73 assisted living units and 36 memory care units. The loan amount comes to $169,300 per unit. The transaction was funded by entities managed by Fortress Investment Group, and was arranged by Alanna Ellis of Jones Lang LaSalle on behalf of Fortress. The $37.8 million loan amount was used for the acquisition as well as for future capital improvements. The community, The Glades at ChampionsGate, will be operated by Watermark Retirement... Read More »

Ziegler Announces Slew of Financings

Ziegler announced multiple finacings, first arranging two bridge loan financings totaling $17.3 million for the acquisition and repositioning of two separate assisted living and memory care campuses in Cotswold, North Carolina and Vinings, Georgia.  The communities comprise 201 units and were acquired by Charter Senior Living and its equity partner Berengaria Development. Both communities will each undergo significant repositioning.  The two acquisitions represent the third and fourth repositioning for the Charter and Berengaria relationship.   Next, the Chicago-based investment bank announced a pair of bridge loans closing a $25.8 million financing to fund the acquisition of a portfolio... Read More »

Five HUD Loans Secured by NewPoint

NewPoint Real Estate Capital closed five HUD loans totaling over $83 million. The loans include a $29 million refinance of a recently acquired 140-bed SNF for an experienced borrower in New York. The facility was built in the early 1970s and underwent a major renovation shortly after the acquisition. NewPoint also refinanced $51 million in conventional debt for three supportive living facilities in Illinois. Those facilities have a combined 360 beds. Two of the facilities were built in the early 2000s, while the third was constructed six years ago. NewPoint finished its activity with a $3.5 million refinance for a 95-bed SNF in Missouri. Read More »

Meridian Capital Group Closes Slew of Transactions

Meridian Capital Group’s Senior Housing and Healthcare team closed $580 million in transaction volume over the course of the summer, bringing their year-to-date total to nearly $3 billion in 2022. These transactions were negotiated by Meridian’s Senior Housing and Healthcare platform, led by Ari Adlerstein and Josh Simpson. The recent transactions include a $115.2 million acquisition loan from a commercial bank in addition to a $15 million A/R line for 10 SNFs with 1,112 beds in California, a $69 million loan from a commercial bank in addition to a $2 million A/R line for the acquisition of one facility and the refinance of two facilities totaling 468 skilled nursing beds in New Jersey,... Read More »

Cushman & Wakefield Recapitalizes Walnut Creek Community

Cushman & Wakefield announced that they have arranged the recapitalization of Byron Park in Walnut Creek, California on behalf of a joint venture between Kisco Senior Living and an institutional investor. The senior living community comprises 187 units of independent and assisted living and sits on three acres in the greater San Francisco area. It will continue to be managed by Kisco Senior Living, who will maintain operations under the new ownership by an institutional real estate owner. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard handled the transaction. Earlier this month, Kisco Senior Living, in a joint venture with Welltower,... Read More »

JLL Refinances ChampionsGate Community

JLL Capital Markets arranged financing for The Glades at ChampionsGate on behalf of Fortress Investment Group. The senior living community comprises 233 units of independent living, assisted living and memory care in the greater Orlando, Florida area. Fortress obtained a four-year, floating-rate non-recourse loan through MidCap Financial Services. Alanna Ellis, Allison Holland, Billy Lichtenstein and Zach Brantley of JLL Capital Markets worked on behalf of the borrower to close the transaction.   The property consists of one- and two-bedroom units ranging from 627 to 1,060 square feet. Community amenities include outdoor courtyards and patios, a swimming pool, movie theater, activity room,... Read More »