Newmark Handles Class-A Portfolio Deal
Newmark announced the sale of a seniors housing portfolio featuring assets spread across three states. Dubbed Project Stone, the four-community portfolio includes Class-A communities at irreplaceable locations in strong Ohio, Kentucky and Missouri submarkets. Together, they comprise 460 independent living, assisted living and memory care units. The communities had positive leasing and operating margin trends, as well as strong recent rental and care increases. The portfolio was being offered at a discount to replacement cost, but the purchase price was not disclosed. Read More »
National REIT Re-Tenants Vacant Oklahoma Seniors Housing Asset
Blueprint’s behavioral healthcare team advised a national REIT to re-tenant a vacant seniors housing asset in the Tulsa, Oklahoma MSA. The existing asset was vacant at the time of engagement and identified as a great candidate for a behavioral healthcare provider due to strong demand and referral networks for inpatient substance abuse and mental health care within the market. So, Blueprint identified and negotiated lease and credit terms with behavioral healthcare-focused operators. Ultimately, a large regional substance abuse and inpatient mental healthcare operator was selected based on lease terms and execution capability. In addition to identifying appealing lease terms, credit... Read More »
Berkadia Appoints New SVP of Capital Markets
Berkadia hired Lisa Burgess, appointing her as SVP, Capital Markets – Seniors Housing and Healthcare. Burgess will be responsible for managing the balance sheet bridge financing process as well as the identification and management of third-party lending relationships to augment seniors housing and care dedicated bridge financing. Before joining Berkadia, she has had a 25-year career in healthcare finance, where her experience includes M&A, financing and portfolio management work for Epoch Senior Living, Benchmark Senior Living, Post Acute Partners, Wingate Healthcare and Care One. Burgess received her undergraduate degree from the University of Pennsylvania, graduating Magna Cum Laude... Read More »
Marcus & Millichap Arranges SNF Leases
After purchasing four senior care campuses in a large portfolio deal, a seniors housing owner/operator turned to Marcus & Millichap to find new tenants for the skilled nursing portions of each newly acquired campus. Each building was losing close to $1 million annually and had struggled with occupancy and expenses. While the portfolio purchase was in escrow, the buyer, which solely focused on seniors housing operations, engaged Rob Reis and Nick Stahler of Marcus & Millichap to create a market for each nursing home portion. Despite the negative cash flow, M&M targeted aggressive lease rates and sourced three separate tenants, all regional SNF operators based in... Read More »
Dwight & Co Adds to Services and Team
Dwight & Co has expanded its seniors housing and healthcare financing solutions by launching working capital revolving lines of credit (revolvers). The company also announced a couple of new hires. The revolvers will integrate into Dwight’s existing bridge, mezzanine, and HUD healthcare lending platform, providing a comprehensive suite of financial solutions for healthcare operators. In January 2024, Dwight closed its first two revolvers and also has a strong pipeline of new business. The revolvers were structured to complement Dwight’s bridge mortgage loans. In addition, to support its originations, underwriting, capital markets, asset management and servicing areas of... Read More »Schedule a demo
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