• 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 »
Welltower Controversy?

Welltower Controversy?

Back when Welltower announced its agreement to let health system ProMedica Senior Care off the hook with its leases for 147 nursing facilities, leases that were drowning in red ink for ProMedica, we joked about it because, 1) we had just written that not-for-profit ProMedica’s board could not let the red ink flow for much longer, and 2) the new joint venture partner called Integra was not one of the commonly known “Integras” in senior living or health care, and there are many of them. But we did discover the relationship between Welltower’s Integra and an entity called Perigrove, which claimed to be an institutional investor with years and billions of dollars of investments under its belt.... Read More »
Ouch…Brookdale Senior Living Plunges

Ouch…Brookdale Senior Living Plunges

How do you reduce the value of your company by 40% in 24 hours? Tell investors you are going to raise more capital after you told them in your third quarter earnings call that your liquidity was okay and you had no debt maturities until September 2024. That is what confronted investors this week. Brookdale Senior Living announced, and then priced one day later, a $125 million capital raise that left people wondering. It consists of 2.5 million units, priced at $50 per unit, with each unit including equity and debt (more on that later), and the proceeds will be used for general corporate purposes, the ubiquitous catch-all from the legal team. Our first guess was that investors pummeled the... Read More »
A Successful Turnaround, Twice

A Successful Turnaround, Twice

We have always stated the belief that smaller providers are nimbler and more on top of operations at the community level. That being the case, they are usually better able to turn around operations of a struggling community. Not always, but they have a better chance. This should also hold true with turning around communities after COVID. Large companies such as Brookdale Senior Living, while steadily increasing occupancy, are still far below where they were before the pandemic. So here is a case study about two turnarounds with the same community. In May 2019, a small provider, Bloom Senior Living, purchased a 78-unit assisted living/memory care community in Kokomo, Indiana from Capital... Read More »

Brookdale Senior Living For Sale, Again?

Whether it was leaked from Brookdale Senior Living, or from one of its advisors, or not, it was reported on Friday that the company was in talks with one or more advisors about a potential sale of the company. Forgive us if we yawn, but we have been through this before. Although, it was exciting to see a seniors housing company’s share price jump by 20% in a market that has not been kind to our industry, for how long it remains up is the important question. The shares had recently hit a 52-week low of $3.87, so jumping by 20% does not mean as much. This is especially true when one considers the fact that they walked away from a conditional indication of interest to buy the company four... Read More »

Takeaways from Skilled Nursing: Is There A Market Disconnect?

On September 29th, 2022, Ben Swett, Editor of The SeniorCare Investor, spoke with two expert panelists on the skilled nursing M&A market, and why values continue to skyrocket. Mr. Swett was joined by ​​​​​Laca Wong-Hammond, Managing Director and Head of M&A at Lument, and Toby Siefert, Managing Director of Senior Living Investment Brokerage, to make sense of this market, the opportunities within it and the risks. Mr. Swett kicked off the webinar by asking the panelists if the average price per bed, which currently sits at $118,000 per bed, will continue to rise as it has during the previous four quarters. Ms. Wong-Hammond discussed how inflation has caused everything to increase in... Read More »
Skilled Nursing: Is There A Market Disconnect?

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 how the deal process has changed in recent months. Read More »