• Publicly Traded REIT Acquires in Colorado

    The Walker & Dunlop Seniors Housing team started the year off strong, with two closings in January. W&D first represented a major Georgia-based not-for-profit health system in the divestment of three skilled nursing facilities totaling 448 beds. Despite their rural locations, operational challenges and capital expenditure needs, W&D... Read More »
  • East Coast Owner/Operator Acquires First NJ Community

    Evans Senior Investments facilitated the sale of The Heritage Assisted Living, an assisted living and memory care community in Hammonton, New Jersey. ESI was engaged by the independent owner and lender of the property and procured six competitive offers from institutional capital and regional owner/operators. The ultimate buyer was an East Coast... Read More »
  • California-Based Owner/Operator Acquires Note

    An international bank engaged Blueprint to oversee the sale of its interest in a 180-bed skilled nursing facility in the Santa Rosa area of Northern California. The mortgage on the facility was in default despite the facility’s strong historical operating performance and occupancy. It demonstrated extremely high top-line revenue,... Read More »
  • Welltower to Acquire NorthStar Healthcare

    Welltower and NorthStar Healthcare Income announced that NorthStar Healthcare has entered into a definitive merger agreement to be acquired by an affiliate of Welltower, in an all cash transaction with an approximate enterprise value of $900 million, or around $185,000 per unit. Under the term of the merger agreement, NorthStar Healthcare’s... Read More »
  • PE Firm Divests in Oregon to Local Owner/Operator

    A nationally recognized institutional private equity firm engaged Blueprint to oversee the sale of two high-performing seniors housing communities totaling 344 units in Oregon. The communities are Evergreen Senior Living, which is in Eugene, and Timber Pointe/Woodside Senior Living, which sit on the same campus in Springfield. Built between 1996... Read More »

Dwight Mortgage Trust Provides Acquisition Bridge Loan

Dwight Mortgage Trust, the mortgage REIT affiliate of Dwight Capital, provided a $27.25 million bridge acquisition loan for Beachside Center for Rehabilitation and Healthcare, a 239-bed skilled nursing facility in New Smyrna Beach, Florida. Built in 1967, the facility offers short- and long-term care services. It was previously owned by Atlantic Avenue Facility LLC, an entity affiliated with Fort Lauderdale, Florida-based Millennium Health Systems, but a skilled nursing owner/operator has taken over the facility.  The loan comes with a 30-month term and was arranged at 75% loan-to-cost. Its proceeds will be used towards both the acquisition and capital expenditures at the facility.... Read More »

CFG Closes Large SNF Bridge Loan

Capital Funding Group announced its recent transaction activity which was highlighted by a $135 million bridge loan arranged for the refinancing and dividend recapitalization of a skilled nursing portfolio. The nine facilities feature 1,448 beds across Maryland, Georgia and West Virginia. CFG’s Tim Eberhardt and Ava Julio originated the transaction for a well-known skilled nursing owner, but further details were not disclosed. CFG also provided a $32.9 million construction loan for the ground-up development of Varenita of Temecula. The 108-bed assisted living/memory care community is located in Temecula, within Riverside County between Los Angeles and San Diego. It was developed by Griffin... Read More »

VIUM Capital Wraps Up Q2 with SNF Portfolio Refinance

VIUM Capital is having quite a year and wrapped up its second quarter with 25 closed transactions totaling $1 billion. This brings the lender’s total in the first half of the year to nearly $1.3 billion across 43 loans. The transactions consisted of bridge and permanent debt, financing projects in 15 states. Since being founded in April 2020, VIUM has grown to over 20 employees and earlier this year rolled out its healthcare debt fund in conjunction with an affiliate of joint venture partner, Merchants Capital. The firm finished the quarter with a large refinance of six skilled nursing facilities on behalf of their Midwest-based owner/operator. VIUM secured approximately $130 million in... Read More »

60 Seconds with Swett: Q2:22 M&A Activity Nears Record-High

The second quarter M&A numbers are in, preliminarily that is, and buyers nearly set a record for acquisition activity. So far, we have counted 135 publicly announced transactions for the quarter, which is only surpassed by the first quarter’s 139 deals. Continuing at this pace, we are on track to hit 550 deals for the year, which would be a record by about 100. Of course, we shouldn’t count our chickens before they hatch, with higher interest rates or a potential recession looming.  June was an especially strong month, with 52 individually announced deals, after 49 in April and a mere 34 in May. But what was notable about June was that skilled nursing M&A activity seemed to pick... Read More »

 Northwestern Mutual Divests California Community

Northwestern Mutual has divested its 150-unit assisted living community in Brentwood, California with the help of Charles Bissell, Cody Tremper and Dean Ferris of JLL Capital Markets. Named Cortona Park, the community was built in 2007 with studio, one-bedroom and two-bedroom unit options averaging 761 square feet. Pets are welcome at the community, which also features a host of amenities including a library, café/bistro, beauty shop, courtyard and garden, outdoor pool, theater, billiards, fireside living room and a community room with meeting space. John Muir Health Urgent Care is located adjacent to Cortona Park, and two hospitals are within the surrounding area. Northwestern Mutual sold... Read More »

SLIB Handles Port Orange, Florida Sale

Senior Living Investment Brokerage’s Bradley Clousing and Daniel Geraghty helped facilitate a private REIT’s exit of an operational outlier from a previous portfolio with the sale of a memory care community in Port Orange, Florida (Daytona Beach MSA). Consisting of over 54 units on a three-acre parcel, the high-quality community was well operated. A growing regional owner/operator looking to expand its presence in Florida emerged as the buyer from multiple other offers, but the purchase price or other transaction details were not disclosed. Read More »