• LCS and Vi To Merge

    LCS and Vi announced a strategic merger, adding Vi’s 10 communities and 4,000 residents to the LCS portfolio of more than 130 communities. Vi has entrance-fee CCRCs in Florida (3), Arizona (2), California (2), Colorado, Illinois and South Carolina. Depending on regulatory approvals, the merger is expected to close in mid-2026, with both companies... Read More »
  • Kiser’s Myers Announces Closings

    Mark Myers has had an active year since leaving Walker & Dunlop in January 2025 to go to SVN before exiting that shop in May to co-create a seniors housing brokerage platform with Kiser Group. But a few deals that he worked on with his previous teams have also recently closed. The largest was the sale of Sarah Neuman, a 301-bed skilled... Read More »
  • Blueprint Handles Five-SNF Portfolio Deal

    Giancarlo Riso and Amy Sitzman of Blueprint advised a client on a sale and HUD 232 process of five skilled nursing facilities located in central and west Texas. The facilities totaled 424 beds and featured positive cash flow. They had attractive, fixed-rate HUD debt of 2.8% and long remaining terms with maturity dates starting in 2035 through... Read More »
  • SLIB Sells Two Pennsylvania CCRCs

    Two faith-based, not-for-profit CCRCs in central Pennsylvania were acquired by a private East Coast-based investor. Located an hour’s drive from each other, Church of God Home has 50 independent living units and 109 skilled nursing beds in Carlisle, while Towne Centre in Myerstown has 152 skilled nursing beds, plus some “borrowed” IL units from... Read More »
  • Mississippi Turnaround SNF Changes Hands

    3G Healthcare Real Estate, which mainly focuses on skilled nursing transactions and has a side focus of debt and equity placement, facilitated the sale of a skilled nursing facility in Mississippi on behalf of a small, local skilled nursing owner. Built in the 1970s, the asset faced occupancy and operational challenges, including staffing... 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 »
Brookdale Reports Highest Occupancy Since March 2021

Brookdale Reports Highest Occupancy Since March 2021

While we would hope that seniors housing companies are reporting their highest occupancy levels since the bottom of the COVID market in March 2021, Brookdale Senior Living did it in pretty good fashion. Brookdale finally topped 80% in month-end occupancy for August, reaching 80.4%, or a 50 basis-point increase over July. It also represented a 110-basis point increase from a year ago. Weighted average occupancy reached 78.9% in August, a 30-basis point sequential increase and a 130-basis point increase year over year. We would expect solid census increases in the traditionally strong third quarter, so this was not a surprise. But they will have to maintain these improvements through the... Read More »
60 Seconds with Swett: October Broke the Monthly M&A Record

60 Seconds with Swett: Rates Tumble on Eve of NIC

Two years ago at the NIC Fall Conference, the spike in interest rates, with the 10-Year Treasury rate heading above 3.5%, seemed to spook many investors, as deals started disintegrating left and right. That did not help to lift the mood of everyone there. Then, last year, on the eve of NIC, rates were again spiking, this time above 4.5% and heading to 5.0%. The Fed may have stopped its rate increases, but the costs of borrowing were not on the decline. At least there was a belief that the worst had passed, or at least we were in the middle of the worst. Again, did not lift the spirit of the thousands of NIC attendees, and thank you for the open bars.  Now, we are approaching another... Read More »