• Community First Solutions Acquires Again in Ohio

    Ziegler was engaged by Marquee Capital, the real estate company affiliated with Marcus Investments, LLC, the Marcus’ family office, in the sale of its seniors housing community in Mason, Ohio. Built in 2020, BrightStar Senior Living of Mason sits on 3.2 acres with 41 assisted living and memory care units. The community was well occupied at 90%,... Read More »
  • Joint Venture Acquires Nashville Active Adult Community

    An active adult community in Germantown, Tennessee, found a new owner thanks to the team at Newmark. Built in 2020, Avenida Watermarq is a 161-unit, Class-A active adult community in an affluent suburb of Nashville. There are one- and two-bedroom options averaging 919 square feet per unit. Occupancy was 87%. Inspired Real Estate Partners and GEM... Read More »
  • Institutional Owner Divests Ohio Facility

    Evans Senior Investments arranged the sale of a skilled nursing facility in Ohio on behalf of an institutional owner looking to exit the market. The facility comprises 88 beds and 20 independent living units, which served as a referral source for the nursing home. The buyer was a regional owner/operator that is actively expanding in Ohio. This is... Read More »
  • Strawberry Fields Completes Missouri SNF Portfolio Acquisition

    Strawberry Fields REIT, Inc. announced that it completed the acquisition of nine skilled nursing facilities comprising 686 beds in Missouri for $59 million, or $86,000 per bed. The REIT completed the acquisition using cash on hand and the issuance of approximately $2.0 million in OP Units of Strawberry Fields REIT LP to the seller. Eight of the... Read More »
  • Macquarie Asset Management Launches Health Wave Partners

    Macquarie Asset Management, which has over 35 years of experience in the real estate sector and a current network of 15 specialist operator investments globally, announced the launch of Health Wave Partners, a seniors housing platform aimed at targeting investments in modern seniors housing assets alongside established operators. The platform... Read More »
Steady As She Goes For Chartwell

Steady As She Goes For Chartwell

Chartwell Retirement Residences, the largest operator of seniors housing in Canada, posted a slight 20-basis point decline in census in February, to 85.5%. They are forecasting no drop for March and a 20-basis point rise for April. If that holds, they will escape the winter census blues, and the December to April period would end up showing an 80 basis-point increase. Chartwell had a remarkable run in 2023, with occupancy increasing by 520 basis points, certainly an above-average jump for 12 months, especially a few years after the bottom. They are expecting rate increases in 2024 to average 5%, and same-community margins to increase by about 400 basis points in 2024 to 38%, from 34% in... Read More »
Steady As She Goes For Chartwell

Brookdale Census Holds Steady So Far

We all know that historically the winter months have never been kind to nursing home census. Known as the flu season, occupancy tends to drop in the first quarter by 50 to 100 basis points, if not more. The same has been true for assisted living, especially since acuity levels started rising more than a decade ago. The one exception for some providers was during the pandemic recovery, when census was ramping up at unprecedented rates in general, and the flu was nothing compared with COVID. Brookdale Senior Living just announced its February occupancy results, and while they noted it was an improvement from “normal” pre-pandemic seasonality, first quarter-to-date occupancy declined by 40... Read More »
Steady As She Goes For Chartwell

Recovery Continues at Sabra Health Care REIT

After all the earnings reports for the fourth quarter 2023, we think it is safe to say the industry really has moved on from the pandemic. Not that the lasting effects have disappeared, as they may be with us for the rest of the decade, but most everyone seems to be getting back to “normal,” although at a different pace for each one. Sabra Health Care REIT is one of those that can safely be said to be on the safe side of the pandemic. With its fourth quarter earnings, it put out earnings guidance for 2024 for the first time since 2020. Like everyone else, Sabra and its tenants still have a way to go, but most everything is moving in the right direction.  What we like is that the lease... Read More »
Steady As She Goes For Chartwell

Nice Surprise For Diversified Healthcare Trust Shareholders

Readers know that Diversified Healthcare Trust has struggled in the past year or more, and even had a “going concern” issue where they were not sure if they would make it through the end of 2023, or so they told shareholders. The share price tanked, and management told investors if they did not agree to the merger with Office Properties Trust (controlled by the same people as DHC), that there was a good likelihood they would default on the debt that was coming due later in the year. A few shareholders took a stand against management, the institutional shareholder proxy services panned the merger as well, and the merger was canceled. The debt was refinanced, the share price took off and all... Read More »
Steady As She Goes For Chartwell

A Webinar Wrap-Up on 2023 M&A Valuations

The SeniorCare Investor recently hosted a webinar titled “2023 M&A Valuations and 2024 Predictions” with moderator Ben Swett, Managing Editor of SCI, Managing Director of Senior Living Investment Brokerage Bradley Clousing, Senior Managing Director and Head of Healthcare Services of Oxford Finance Tracy Maziek, and Principal of Scribner Capital James Scribner. After a chaotic and difficult year, in this webinar, the panelists dissected what exactly happened in 2023, how values changed and what motivated buyer and seller decisions. The webinar kicked off with a review of many statistics available in the soon-to-be-published Senior Care Acquisition Report, starting with how M&A... Read More »
2023 M&A Valuations and 2024 Predictions

2023 M&A Valuations and 2024 Predictions

Senior care owners, operators, brokers and lenders had to adapt to a rapidly changing lending and M&A landscape in 2023, but what new hurdles (or opportunities) will 2024 bring? Join The SeniorCare Investor and a panel of experts to get a sneak peek of the 2023 M&A valuation statistics and a preview of what is to come in the market. Read More »