• Interview with Arnie Whitman and Meredith Oppenheim on VITALS

    The SeniorCare Investor’s Ben Swett recently sat down with Meredith Oppenheim and Arnie Whitman to discuss their new framework for seniors housing operators to improve the quality of life for their residents, but also to position the sector for greater success and wider appeal in the future. Watch the conversation here. Read More »
  • Michigan-Based Owner/Operator Expands in Tampa MSA

    American House Senior Living Communities added Beach House Assisted Living & Memory Care in Wesley Chapel, Florida (Tampa MSA), to its operating portfolio and renamed the property American House Wesley Chapel. The community features 67 assisted living and 33 memory care units with studio, one- and two-bedroom floor plans, some with balconies... Read More »
  • Seniors Housing Community Near Chicago Gets New Owner

    SVN Chicago Commercial sold McKenzie Falls, an affordable seniors housing community in Bolingbrook, Illinois, roughly 30 miles southwest of downtown Chicago. The building was constructed in 2010 and spans 74,047 square feet across one story.  An undisclosed buyer acquired the 105-unit community for $6.7 million, or $63,800 per unit. Reid... Read More »
  • Healthpeak Properties Provides Janus Living Updates

    Healthpeak Properties’ recently formed seniors housing REIT, Janus Living, which will manage Healthpeak’s 34-community seniors housing portfolio, has filed a registration statement on Form S-11 with the SEC relating to a proposed initial public offering of its shares of Class A-1 common stock, which the company intends to list on the NYSE under... Read More »
  • SLIB Handles Senior Care Campus Deal in Missouri

    A Maryland-based owner/operator looked to expand its Missouri senior care portfolio with the purchase of Kingdom Care Senior Living in the town of Fulton. Built in 1980, the campus includes four independent living units, 26 assisted living units and 36 skilled nursing beds. It currently holds a five-star rating at the SNF and is the only... Read More »
Tremper Capital Group Announces Two Refinances

Tremper Capital Group Announces Two Refinances

Tremper Capital Group announced a couple of refinances at the end of the second quarter for seniors housing clients. The first was arranged on behalf of Kisco Senior Living for its 333-unit entrance-fee CCRC in Palm Beach Gardens, Florida. Built in 2004, the campus was acquired by Kisco as part of a larger CCRC deal in 2013, and since then it expanded with a 54-unit independent living building in 2018. It was well occupied, around 94%, and operated at a healthy margin. The campus was also looking to add more rental contracts for its units, which should help improve its profitability.  TCG arranged a $45 million loan from BMO to refinance the property, growing the relationship between... Read More »
CBRE Arranges Fannie Mae Refinance

CBRE Arranges Fannie Mae Refinance

CBRE National Senior Housing arranged a Fannie Mae loan assumption of a portfolio of seniors housing communities on behalf of an institutional client, taking out an original CBRE-originated loan in the process. The portfolio features five assets that feature 435 independent living and assisted living units and are spread across Oregon and Washington. Through CBRE’s Fannie Mae DUS Lending Platform, Aron Will and Adam Mincberg facilitated the $64.6 million assumption of a loan that CBRE originated in 2017. Read More »
CIBC Finances Boston-Area SNF

CIBC Finances Boston-Area SNF

CIBC Bank USA closed a new $13 million commercial mortgage term loan for a 120+ bed skilled nursing facility near Boston, Massachusetts. The facility is owned and operated by a high-quality, national skilled nursing operator. With an effective age of 20 years, the skilled nursing facility currently posts strong operating results with occupancy averaging 89% and EBITDAR margins of 20%. The financing was handled by Matthew Tyler and Neal Netzel with CIBC Bank USA. Read More »
Berkadia Secures Large Portfolio Refinance

Berkadia Secures Large Portfolio Refinance

Berkadia closed $627.2 million in agency financing for Project Raven. Project Raven is a 35-asset seniors housing portfolio with 4,395 independent living, assisted living and memory care units. The portfolio spans 15 states. Austin Sacco, Steve Muth, Garrett Sacco and Alec Rosenfeld handled the financing on behalf of an institutional borrower. The transaction was a roughly five-month process and refinanced existing debt. It represents one of the largest seniors housing refinances in recent years. Read More »
BMO and TCG Refinance Florida CCRC

BMO and TCG Refinance Florida CCRC

BMO’s Healthcare Real Estate Finance group acted as sole lender on a real estate term loan refinancing for La Posada, a Class-A, 333-unit CCRC in Palm Beach Gardens, Florida. Originally opened in 2004 and later renovated, the campus offers independent living (245 units), assisted living (30 units), memory care (18 units) and skilled nursing (40 beds) on an irreplaceable site in Palm Beach Gardens. Occupancy was strong at 93%, and the community was fully stabilized. La Posada is owned and managed by affiliates of Kisco Senior Living, based in Carlsbad, California. In order to refinance existing debt and recapitalize some of the addition/renovation capital, Kisco received $45 million in... Read More »
The Lenders Roundtable: A Capital Markets Update

The Lenders Roundtable: A Capital Markets Update

On Thursday, June 26th, Managing Editor of The SeniorCare Investor Ben Swett sat down with a group of expert panelists to dive into the evolving financing process of M&A deals. Panelists included Dave Boitano, EVP & CIO of LTC Properties, Cary Tremper, President & CEO of Tremper Capital Group, and Patrick Gilbreath, Sr. Relationship Manager & Vice President of KeyBank. Frank Cassidy, who oversees HUD’s Office of Housing and the FHA, also dialed in as a special guest to discuss HUD’s launch of its “Express Lane.” Watch the LTC Properties-sponsored webinar here. Read More »