• SLIB’s Active Start to May 

    Senior Living Investment Brokerage hit a rich vein of activity at the start of May, reporting several closings for seniors housing and skilled nursing assets. First, Jason Punzel, Brad Goodsell, Vince Viverito and Jake Anderson facilitated the sale of a seniors housing community in Grants Pass, Oregon. Built in the 1960s, Oak Lane Retirement... Read More »
  • Final Asset Closes in SNF Portfolio Acquired by Ensign

    The Ensign Group acquired the real estate and operations of Marianwood Health and Rehabilitation, a 117-bed skilled nursing facility in Issaquah, Washington. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc., Ensign’s captive real estate company, and will be operated by an Ensign-affiliated tenant. The... Read More »
  • Joint Venture Secures Financing for Two Standalone-Memory Care Communities

    BWE, together with Blueprint Capital Markets, closed two loans totaling $17.82 million to provide financing for the acquisition of two Class-A memory care communities: Windsong at Southridge ($10.42 million) and Windsong at Eola Hills ($7.4 million). Lundat Kassa of BWE handled the financing, having been brought onto the deal by the team at... Read More »
  • Montgomery Intermediary Group Announces M&A and Financing Activity

    Montgomery Intermediary Group continued its active 2025 with a financing and two recent M&A closings. First, Jeremy Warren worked on behalf of an owner/operator seeking to recapitalize a 210-unit assisted living community that was originally a purpose-built hotel. The goal was to generate cash for ownership and to finance cosmetic renovations... Read More »
  • Live Oak Closes Bridge-to-Sale Loan

    In April 2025, Live Oak Bank closed a $25 million bridge loan for a Harbert Seniors Housing Fund I, LP-held seniors housing community. The loan provides a bridge-to-sale and features a three-year initial term, 36 months of interest-only payments and $2.8 million in potential future earnout proceeds. Loan proceeds were used to return capital to... Read More »
Brookdale Q3 Results Disappoint

Brookdale Q3 Results Disappoint

Historically, and we are going back more than 12 years, the third quarter has been the best quarter of the year for occupancy increases, and usually cash flow increases based on those census jumps. This was certainly the case for Welltower and Ventas this year, the two largest owners of seniors housing communities. Unfortunately, Brookdale Senior Living, which continues to underperform the market and lags these two REITs, leaves investors disappointed and wondering what is wrong. And dare we say disillusioned with management’s forecasts, which have not panned out at all this year. Don’t get us wrong. Occupancy has increased, but not in the way investors expected, and “little” things like... Read More »
SHOP at National Health Investors Outperforms

SHOP at National Health Investors Outperforms

At National Health Investors, it seems to be all about SHOP, SHOP, SHOP. Although it is a small portfolio at just 15 properties, it is becoming mighty. September’s occupancy was 89.1%, compared with 81.2% a year ago, representing a 790-basis point increase. From July 2023, the increase was 1190 basis points. It is now the highest occupancy portfolio of the major property groups for NHI. The sequential increase from August was 60 basis points.  The SHOP NOI increased 30.4% year over year and represents the highest quarterly result since the portfolio’s formation in April 2022. As we have written previously, SHOP portfolios are performing well, and REITs are expanding them. All is not... Read More »
60 Seconds with Swett: October Broke the Monthly M&A Record

60 Seconds with Swett: October Broke the Monthly M&A Record

For those of us who track the seniors housing and care M&A market, October was like drinking from a firehose from the start of the month to the finish. And an active earnings week kicked things into another gear. We have to start with the 73 deals made public throughout October, which is still a preliminary number that we expect to rise, but also a record for any month, ever. That is just the sixth month ever that has surpassed 60 transactions, and only the second to surpass 70. Annualized, it also equates to 876 deals. We don’t expect that to continue, especially with earnings skewing October’s numbers slightly, but we could be entering a new era of transaction activity. The previous... Read More »
LTC M&A Sector Reaches New Transaction Volume Record

LTC M&A Sector Reaches New Transaction Volume Record

The most active dealmaking year was 2022, in which 559 transactions were announced, according to LevinPro LTC. As of Friday October 18, 2024, the senior care sector has hit a new record in terms of transaction volume. We are currently at 560 transactions, and still have some of October plus all of November and December to go.  Overall, the deals announced this year have been smaller and more distressed than in previous years, while many portfolios were broken up into numerous smaller deals because of the lack of financing available for big deals. But we also hear from dealmakers that the process for closing deals is still long and difficult, making the record-high volume even more... Read More »
Greystone & VIUM Capital Top HUD Rankings

Greystone & VIUM Capital Top HUD Rankings

The HUD LEAN rankings for HUD’s fiscal year 2024 ended September 30 are out, and the program saw 220 loans close, totaling nearly $3.2 billion for a nearly 10% increase over FY2023’s total volume. Closings only accelerated in the second half of HUD’s fiscal year, and the next 12 months could see another increase in activity. Topping the charts, both in terms of deals and dollar volume, was Greystone, with 52 deals and $708.3 million of volume. Greystone led the way in FY2023, too, with 39 deals and nearly $700 million of volume, and in FY2022 with 35 deals. VIUM Capital ranked in the second spot in both categories, with 34 deals and $344.8 million of volume. This is a return to the second... Read More »
60 Seconds with Swett: 2024 Already Surpasses 500 Deals

60 Seconds with Swett: 2024 Already Surpasses 500 Deals

The optimism in the seniors housing and care industry was palpable at the NIC Fall Conference in Washington, D.C. last week, partially because of interest rates falling for the first time since the onset of the pandemic, but also partially because of the record-setting M&A streak we have been on for most of the year, so far. We are three quarters into 2024, and we have already virtually reached 2023’s annual deal total of 511 deals, at 508 deals according to LevinPro LTC. If you include the deals made public on October 1, we have surpassed that total, with an entire quarter to go. And if the anecdotal stories of BOVs, new listings and closing pipelines are true, we are going to shatter... Read More »