• Zett Group Closes Full-Circle Transaction

    We do not see deals like this often. In a full circle transaction, Blake Bozett and Spud Batt of The Zett Group sold a large seniors housing community in Eugene, Oregon, to a Salem, Oregon-based group in partnership with a new operator through a pre-established JV structure. Bozett represented his grandparents, Ron and Joyce Knutson, a pioneering... Read More »
  • Brookdale Misses Revenue Targets, Again

    Brookdale Senior Living continues to slap investors and analysts around, missing consensus revenue targets for the fourth quarter in a row. We know, never rely on “consensus” anything, but the company seems to always disappoint, even now when everything should be rallying. Investors did not like what they heard and sent shares tumbling by 10% in... Read More »
  • Owner/Operator Divests to Private Fund in Florida

    Bradley Clousing, Daniel Geraghty and Ryan Saul of Senior Living Investment Brokerage were engaged by a Southeast owner/operator in its divestment of two seniors housing communities that sit a few blocks apart in Wilton Manors, Florida. The buildings total 159 independent living and assisted living units, and were cash flow negative when the... Read More »
  • GEM Realty Capital Expands Its Active Adult Portfolio

    The CBRE Capital Markets Houston Multifamily Group and CBRE National Senior Housing handled the sale of an active adult community in Houston, Texas. Built in two phases in 2006 and 2012, Elate Royal Oaks, previously known as Camden Royal Oaks, consists of 340 units (236 were built in Phase 1, and 104 were built in Phase II). Clint Duncan, Matt... Read More »
  • New Venture Secures Acquisition Financing and Purchases Active Adult Community

    Newmark arranged the sale and financing for a seniors housing community in Huntington Beach, California. The seller, Bascom Group, was represented by Newmark Vice Chairman Dean Zander, who worked on the deal with Voit Real Estate Services’ Joe Leon and Nick Ingle. Huntington Breeze is a 114-unit, 103,000-square-foot active adult community that... Read More »
Brookdale Misses Revenue Targets, Again

Brookdale Misses Revenue Targets, Again

Brookdale Senior Living continues to slap investors and analysts around, missing consensus revenue targets for the fourth quarter in a row. We know, never rely on “consensus” anything, but the company seems to always disappoint, even now when everything should be rallying. Investors did not like what they heard and sent shares tumbling by 10% in early trading, with some recovery later in the morning.  It was not all bad news, of course. Occupancy continues to rise, with weighted average occupancy over 80% in the second quarter, a key benchmark, and same-community occupancy rose to 80.7% in the second quarter, up 190 basis points year over year and up 70 basis points sequentially.... Read More »
LTC Properties and Sabra Up Their Guidance

LTC Properties and Sabra Up Their Guidance

With $400 million of new investments now included in its guidance, LTC Properties upped its forecast for the rest of the year. Its SHOP portfolio will more than double in size as the REIT transforms itself from a mostly triple-net lease orientation to a more diversified investor, taking advantage of improving operating metrics. Over the next 60 days, LTC expects to close about $320 million in new investments, of which $60 million is a five-year mortgage loan at 8.25%. When these investments close, LTC’s SHOP portfolio will represent nearly 20% of the total portfolio. Net income, FFO and FAD guidance were all increased. Sabra Health Care REIT also increased its guidance based on new... Read More »
Omega Beats Estimates

Omega Beats Estimates

Omega Healthcare Investors released its second quarter results, beating estimates and demonstrating resilience amid the bankruptcy of Genesis Healthcare, one of the largest skilled nursing operators in the country. The REIT reported AFFO of $0.77 per common share, which was above the estimate of $0.75. Revenue also came in higher than expected, totaling $282.5 million as opposed to the projected $240.6 million.  Omega completed approximately $527 million in new investments during the quarter, including $502 million in real estate acquisitions. The company purchased 45 facilities in the U.K. and Jersey for £259.8 million (approximately $344.2 million). The facilities were leased to... Read More »

Another Solid Quarter For Ventas

On the heels of Welltower’s blockbuster second quarter earnings report, Ventas turned in another solid performance as well. Same-community, SHOP occupancy jumped by 240 basis points year over year to 87.6%, NOI margin increased by 130 basis points to 28.4%, cash NOI increased 13.3% and RevPOR was up by 5.3%. The U.S. portfolio had a 290-basis point census increase, led by secondary markets that jumped by 360 basis points year over year. The Canadian portfolio, which was already over 95% occupied, held back the total increase but jumped by 80 basis points. How much higher can it really go? Ventas has made $1.1 billion in new seniors housing investments year to date, and that led management... Read More »
Seniors Housing and Care M&A Activity Inches Up in Q2:25 but Lags Behind Q2:24

Seniors Housing and Care M&A Activity Inches Up in Q2:25 but Lags Behind Q2:24

The number of publicly announced seniors housing and care acquisitions in the second quarter of 2025 totaled 181 deals, based on new acquisition data from LevinPro LTC. This represents a 1.1% increase from the 179 transactions disclosed in the first quarter of 2025, but a 3.2% decrease from the 187 deals in Q2:24. Additionally, the $5.68 billion spent on Q2:25 transactions fell by 2.7% from the $5.84 billion spent on Q1:25 transactions, and rose by 134.7% from the $2.42 billion spent in the year-ago first quarter, based on disclosed prices.  Stripping foreign transactions from the totals of publicly announced transactions, the second quarter of 2025 saw 133 U.S. deals, or 532 on an... Read More »
Brookdale Occupancy Hits 81%

Brookdale Occupancy Hits 81%

Brookdale Senior Living reported its first quarter earnings results, and it appears to be building on the momentum started at the end of 2024. In addition, month-end occupancy in April topped 81.0%, marking the ninth straight month with ending occupancy above 80.0%. While it is great the company is making progress, there is still a lot more work to do.  After declining in the second half of 2024, the seniors housing operating margin increased to 28.4% in the first quarter. This represents a 130-basis point increase from the year-ago quarter, but a whopping 290-basis point increase sequentially. Meanwhile, RevPOR increased by 3.0% year over year and 4.6% sequentially, contributing to... Read More »