• National Developer/Investor Divests in Florida

    Blueprint was engaged by a national developer/investor in its divestment of a value-add, but newer vintage, Class-A seniors housing community in Lake Worth Beach, Florida. As part of a broader portfolio review, the ownership group decided to divest to de-lever and conserve liquidity within the fund that held this community. Built in 2019, this... Read More »
  • 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... Read More »
  • Georgia Seniors Housing Community Trades

    Blueprint was brought on in the divestment of a purpose-built seniors housing community in Kennesaw, Georgia. The community was built in 1999 and comprises 37 assisted living and memory care units. We suspect this is another former Enlivant property. Kyle Hallion, Amy Sitzman and Giancarlo Riso marketed the opportunity alongside 16+ seniors... Read More »
  • Cushman & Wakefield Hires Jason Skalko

    After its entire seniors housing team left for JLL earlier in 2023, Cushman & Wakefield has started to rebuild, announcing the hire of Jason Skalko as Managing Director. Skalko comes from JLL and will be based in the firm’s Tampa office to specialize in senior living and care investment sales throughout the United States. A graduate of the... Read More »
  • 60 Seconds with Swett: Memory Care Still Commands a Premium

    We are just a couple of days away from publishing the 29th Edition of The Senior Care Acquisition Report, which is available to all LevinPro LTC and LTC News subscribers as part of their subscriptions, and the impact of the capital markets upheaval on valuations affected nearly all property types in 2023. Still, a few historical norms remained.... Read More »
A Webinar Wrap-Up on 2023 M&A Valuations

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 »
60 Seconds with Swett: SNF Values Drop

60 Seconds with Swett: SNF Values Drop

We are in the middle of compiling our 2023 M&A statistics for the soon-to-be-released 29th Edition of The Senior Care Acquisition Report, and the difficult year that was 2023 is coming clearer into focus, at least from a valuation perspective. We’ll preview the skilled nursing market first, which remained relatively strong despite the numerous headwinds facing the sector. On the other hand, some of the tailwinds like rising reimbursement rates, falling supply of licensed beds and revenues from related ancillary businesses have helped prop up valuations. We heard consistently throughout 2023 that values for SNFs had dropped between 10-15% from their peak around 2021 and early 2022, BUT... Read More »
60 Seconds with Swett: SNF Values Drop

60 Seconds with Swett: January M&A Activity Hits a Recent High

If many are hoping for a fundamental shift in the M&A market in 2024, either for more activity, larger deals or Class-A, stabilized properties hitting the market, then January may have offered a glimmer of hope. We recorded 61 publicly announced transactions across the seniors housing and care sectors, according to LevinPro LTC. That is the highest monthly tally since January 2022 when 64 deals were made public. Back then, for some perspective, the 10-year Treasury rate averaged 1.76% that month, as opposed to around 4.0% last month. And liquidity was vastly different, too. There are also always December closings in the January total, which goes by announcement date, but that is true... Read More »
Spotlight on Senior Care M&A

Spotlight on Senior Care M&A

The senior care industry has taken a lot of punches in the last couple of decades but is still poised to see enormous growth in the 2020s. How has M&A activity changed, how have property valuations shifted, and how have buyer and seller strategies changed as a result of several recent shocks to the industry? Check out the special report to see the latest proprietary M&A stats and market analysis Read More »
Brookdale Senior Living Does Not Renew Leases

Brookdale Senior Living Does Not Renew Leases

LTC Properties announced that Brookdale Senior Living finally decided not to renew leases on 35 assisted living communities with 1,471 units in eight states. Most, if not all, of these properties came to Brookdale as part of its 2005 acquisition of Alterra Healthcare Corporation. Eight years before, Alterra had merged with Sterling House, a company founded by Steven Vick in 1991, and we believe these are some of the original Sterling House communities, which tended to be on the small side. This group of properties is one of the largest in LTC Properties’ portfolio, representing about 8.4% of cash rent. Brookdale has been current on all lease payments, and the leases actually do not expire... Read More »