• 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 »
Saying Goodbye To 2020

Saying Goodbye To 2020

It’s time to put 2020 to rest, and in 2021 we will all do our best. If you happen to be listening to this on Christmas Eve Hopefully you will remember it came from Steve As you know, 2020 was a terrible year And in our industry, it brought little cheer What with shortages of tests and PPE Let’s not forget those of us who ran out of TP COVID was nasty, don’t we all know And it cost the providers a lot of dough Blame was cast by the media for sure But your resilience means we will all endure There’s no time to waste, the message still needs to get out That you are a safe place to live, there is no doubt So, as we journey into another year anew I wish you health and happiness in all you... Read More »
LTC Properties Provides Rent Relief

LTC Properties Provides Rent Relief

How do you spell relief in the pandemic? Reducing the rent escalators that REITs charge their tenants. That is precisely what LTC Properties has decided to do in 2021, and we wonder if a few other REITs may follow suit.   Several REITs already agreed to rent deferrals in 2020 as their tenants were struggling with census and operating costs. But those deferrals have to be paid back at some time, since they were simply “deferred.” But under LTC Properties’ plan, the 2021 rent escalator will be cut by 50% and presumably not have to be paid back.  While it may be painful for LTC and its shareholders in the short-term, it was the right thing to do because many tenants... Read More »
Navigating the Senior Care Lending Market with Don Kelly of Locust Point Capital

Navigating the Senior Care Lending Market with Don Kelly of Locust Point Capital

Ben Swett, the Editor of The SeniorCare Investor, sits down with Don Kelly, Managing Director of Locust Point Capital, to discuss the current state of the seniors housing and care lending environment. Ben Swett, Editor of The SeniorCare Investor – Don Kelly is the Managing Director of Locust Point Capital where he is responsible for loan originations and structuring. Don has more than 25 years of experience in the seniors housing and skilled nursing industry and he’s also been involved in the originating, structuring and underwriting of approximately $5 billion in transactions. So, Don, you seem like the right person to turn to for all our lending... Read More »
Will Brookdale Sell Its Home Health Business?

Will Brookdale Sell Its Home Health Business?

Rumors were afloat this week that Brookdale Senior Living might be running a sales process for its home health and hospice business. Quietly, it became one of the largest home health providers in the country, with revenues of $447 million in 2019, inclusive of hospice and a very small therapy business.   We happen to think home health and hospice is a natural for large senior living providers with a built-in customer base off of which to leverage growth outside their communities. It is also a nice lead-in for full time residence into some of their communities. Today, about 50% of the home health and hospice revenues are “in-house,” while 50% are outside of Brookdale’s... Read More »
Saying Goodbye To 2020

The Vaccine Is Here, Now What

The coronavirus vaccine appeared sooner than most people expected, but the roll out may be bumpy.  Senior care providers and residents are about to be the first people vaccinated against COVID-19. That is great news, and putting your politics aside, no one, me included, thought this would happen before year end. But it did. Now what? The media loves to film the first person getting a shot, but the full roll out will be a bit more cumbersome than the staff at a single hospital. Nursing homes and assisted living communities are on the priority list, but because their residents are healthier, IL communities are not. They will have to wait. And that is wrong. The big unknown is how many... Read More »
Capital Senior Living Update

Capital Senior Living Update

On Wednesday we wrote about the sudden rise in the share price of Capital Senior Living, doubling in value in a couple of weeks, which usually indicates rumors of some sort of a potential capital transaction. But the only news that came out was the stockholders’ approval of a 1-for-15 reverse stock split.    What was weird was that at the annual shareholders’ meeting they were given three options. Including the one above, there was also a 1-for-10 and a 1-for-20 split, approving all three and letting the Board decide which one to go with. We have never seen that happen.  With the 1-for-15 reverse split, Capital Senior Living will now have just 2,084,596 shares... Read More »