• Solera Grows through Acquisition of SageLife

    Solera Senior Living expanded its portfolio through the acquisition of SageLife. SageLife’s portfolio includes five high performing seniors housing communities in Maryland, Massachusetts and Pennsylvania. This acquisition brings Solera’s growing portfolio to 14 properties spanning nine states, including a growing concentration in the... Read More »
  • Joint Venture Acquires Class-A Seniors Housing Asset in Texas

    CBRE National Senior Housing acted as the exclusive advisor on the sale of a Class-A seniors housing community in the Houston, Texas MSA. Built in 2012, the community comprises 207 units offering independent living, assisted living and memory care services. CBRE National Senior Housing also arranged acquisition financing for the community on... Read More »
  • Owner/Operator Acquires in Illinois

    Evans Senior Investments arranged the sale of a supportive living community in the south suburbs of Chicago, Illinois. Waterford Estates totals 247 units with 170 independent living, 61 assisted living and 16 memory care units. The seller was a New York-based institutional owner seeking to recycle capital. Due to the scarcity of supportive living... Read More »
  • AEC Living Secures Financing

    Helios Healthcare Advisors structured the recapitalization of a 300-bed assisted living and skilled nursing portfolio in the San Francisco MSA. Facing a pending maturity with its existing lender, the borrower (AEC Living) engaged Helios to structure a refinance across two owned/operated assisted living communities and one skilled nursing property... Read More »
  • Massachusetts SNF Secures New Future in Behavioral Health

    Blueprint’s Behavioral Healthcare Team sold a vacant skilled nursing facility on behalf of a nationally recognized institutional REIT to a buyer that will convert the building into a behavioral health facility. The existing asset is in Agawam, Massachusetts, and was identified as a potential candidate for a behavioral healthcare provider due to... Read More »
Webinar: Has There Been Any Progress on Labor?

Webinar: Has There Been Any Progress on Labor?

On July 19, 2023, Managing Editor Ben Swett hosted Has There Been Any Progress on Labor?, detailing the senior care industry’s path towards labor stabilization, what has gone right, and what still needs to be done. The panelists were Barb Clapp of Dwyer Workforce Development and Steve LaForte of Cascadia Healthcare. Read More »
Is Remote Work Really Impacting Occupancy?

Is Remote Work Really Impacting Occupancy?

There was an interesting article in the Wall Street Journal last week that claimed there is a relationship between soft occupancies in seniors housing and more people working from home. The gist of it was that with more people working remotely full time, or even part time, they are better able to check on mom or dad who might otherwise be thinking about moving into seniors housing, and postponing the move because the kids are more involved. The first problem is that this assumes that the kids live nearby, and the reality is that many of their parents have already moved to warmer climates. The second problem is that it is much more than the need to “check” in on them. If they really need a... Read More »
Brookdale’s Occupancy Continues to Lag Industry

Brookdale’s Occupancy Continues to Lag Industry

Brookdale Senior Living reported its June occupancy levels this week, and while there were increases, those increases lag the increases for the overall industry, and absolute levels of occupancy also continue to lag behind the industry. Weighted average June occupancy was 76.8%, 20 basis points above May but 10 basis points below the occupancy rate last September. That is not progress, even acknowledging that the first half of the year is usually bad for census. Management observed that this was a 160-basis point increase over June 2022. While looking back a year is nice, let’s hope when they do it again in October that they are not showing a small 50-basis point increase year over year.... Read More »
Is Remote Work Really Impacting Occupancy?

60 Seconds with Monroe: SNF Industry Needs To Police Itself

As many of you would suspect, I am no fan of New York’s Attorney General, Letitia James. She politicizes too many things and definitely has a partisan agenda, and one which I do not favor. But after reading through the 300-page court filing against Centers Health Care and related companies, as well as its owners, well, I found myself agreeing with her. The cases involve the poor “care” of residents in a few New York nursing homes, as well as the alleged misuse of $83 million of Medicaid and Medicare funds for other purposes, including, allegedly, the purchase of a large stake in the Israeli airline, EL AL. Money is fungible, and one cannot distinguish between cash from private... Read More »
Sonida Senior Living Gets New Life

Sonida Senior Living Gets New Life

It is well known that the recovery from the pandemic is taking longer than many had expected, and that after the initial surge in occupancies starting in the second quarter of 2021 the rate of growth has slowed, even with the recent suppression of new construction and openings. All of this is impacting the capital markets, especially as interest rates keep rising. We have repeatedly stated that the industry needs to fix its capital structure. The logjam of borrowers and creditors fighting and not coming to terms that are workable for both sides needs to burst. TPG Capital and Sabra Health Care REIT could not come to any agreement with Fannie Mae over $485 million in debt on their Enlivant... Read More »
60 Seconds with Swett: Q2:23 M&A Activity Rebounds Above 100 Transactions

60 Seconds with Swett: Q2:23 M&A Activity Rebounds Above 100 Transactions

The M&A market rebounded, sort of, in the second quarter of 2023, rising to 110 publicly announced transactions, compared with 99 in the first quarter. Considering the economic shock of fast-rising interest rates, and how many deals died in all stages of the transaction pipeline last fall, the volume was actually impressive. Most of the dealmakers we talk to say that their pipelines are healthy, albeit moving slower and with more difficulty than before. We are still way down from the 147 transactions recorded in the second quarter of 2022, which annualized would have resulted in nearly 600 deals for the year. But a lot has changed in a year, clearly.  We are missing the larger... Read More »