Carlton Senior Living Secures Two Freddie Mac Loans
Lument secured two separate Freddie Mac loans for Carlton Senior Living, one of Northern California’s largest seniors housing providers with 11 independent living, assisted living and memory care communities in operation. The loans total $38.8 million and were secured across two separate California properties: $13.5 million to refinance a 123-unit seniors housing community in Fremont and $25.3 million to refinance a 126-unit seniors housing community in San Jose. Both loans feature a fixed interest rate, a 10-year term and 30-year amortization. Additionally, the loan for the San Jose property provides funds for renovations. Nick Hamilton and Casey Moore handled both... Read More »
2nd Quarter Investor Call Recording
On Wednesday, July 24, The SeniorCare Investor hosted its Second Quarterly Investor Call, discussing the latest seniors housing and care M&A data, relevant case studies on recent transactions, and audience questions. Ben Swett, Managing Editor of The SeniorCare Investor, moderated the conversation with panelists Ross Sanders, Managing Director, Investment Sales Seniors Housing & Healthcare of Berkadia, Rick Swartz, Senior Managing Director, Seniors Housing Group Leader of JLL, and Hank Fuller, Director of Evans Senior Investments. Read More »Atlas Acquires Florida Seniors Housing Portfolio
Atlas Senior Living and Salta Capital acquired three stabilized seniors housing communities with healthy cash flow in the Orlando, Florida MSA, including Madison at Clermont, Madison at Ocoee and Madison at Oviedo. According to The Business Journals, the seller was Longview Senior Housing, an affiliate of Blackstone Real Estate. We believe these to be former Brookdale Senior Living properties that were previously sold to Longview. Three to four years ago, Longview brought Atlas on as an operator. Built around the late 1990s and all having received some major capex improvements around 2020/21, the assisted living/memory care communities are in Clermont, Ocoee and Oviedo, Florida. The... Read More »
60 Seconds with Swett: Watch the Quarterly Investor Call 2.0
Today, Wednesday July 24th at 1pm ET, we are hosting our second Quarterly Investor Call, and it comes at a time of record-high M&A activity and no slowdown in sight. How are dealmakers doing it with all of the hurdles and higher costs associated with closing transactions these days, not to mention low valuations not inspiring many potential sellers to get off the sidelines. It turns out that need is trumping desire to sell for many owners right now, with few believing that the capital markets environment will improve dramatically, and quickly. So, rather than wait a year, they are facing the music, and often a loss on their books, to move on from a property that was either struggling... Read More »
Owner/Operator Purchases in Nevada
Senior Living Investment Brokerage facilitated the sale of a cash-flowing seniors housing community in Las Vegas, Nevada. The seller, a private equity firm, is divesting to exit its fund and the seniors housing industry. The purchase price was $9.5 million, or $77,900 per unit. Built in 1974 and continually renovated as recently as 2023, Sterling Ridge Living comprises 22 independent living units (24 beds), 74 assisted living units (76 beds) and 26 memory care units (52 beds), with a 91% occupancy rate. The community sits on 2.37 acres and spans 89,719 square feet. Revenues were $5.6 million, and EBITDAR was $994,000, resulting in a cap rate of 10.5%. During the marketing period, the... Read More »
SVN Senior Living Advisors Grows Its Team
There’s a new, and sizable, team in the seniors housing and care brokerage world. And luckily, as we are in the middle of the busiest period of M&A activity ever, there should be enough transactions to go around for everyone to welcome the competition. Torey Riso, an industry veteran with more than 30 years of legal, business and real estate experience, including holding the CEO roles at Care Investment Trust and Blueprint, joined SVN Senior Living Advisors in February 2024 to help expand the firm’s reach into the seniors housing and care sector. He is partnering with Tony Yousif of SVN, an experienced commercial real estate professional who will serve as a “single point of contact”... Read More »
Not-For-Profit Divests to Another Not-For-Profit
National Church Residences acquired a 99-year ground lease interest on an affordable seniors housing community in Atlanta, Georgia. This acquisition expands NCR’s affordable seniors housing portfolio to 17 communities in the Atlanta metro area, making it the second largest affordable seniors housing owner in the city. Built in 1979, Cathedral Towers comprises 195 units and will be rebranded as Parish Grove. NCR plans to begin making modest improvements to the community. The seller, Episcopal Cathedral of St. Philip, operated the community for 45 years and will use the proceeds from the transaction to create a fund dedicated to improving access to and the affordability of housing and the... Read More »
Equity Consultants Acquires California Active Adult Asset
Coldwell Banker Commercial West was engaged by a local mom & pop in the divestment of an active adult community in Huntington Park, California. The community is under a building covenant that mandates it be used as 55+ housing with 20% of units rented to low-income seniors until 2038. Built in 1989 with renovations done on 50 of the units in 2005, Seville Gardens Apartment Community comprises 225 units, sits on 1.09 acres and stands four stories tall. Occupancy was hovering around 65%. The community was not stabilized at the time of sale and rents were 25% to 30% below market value. It was making around $675,000 at the time of the sale. Tom Papoulias of Coldwell handled the... Read More »
Private Equity Firm Divests SNF in Pennsylvania
Blueprint was engaged by a nationally recognized institutional private equity firm in its divestment of a skilled nursing facility in Philadelphia, Pennsylvania. Built in the early 2000s with significant renovations in 2022, the facility is certified by CMS for Medicare only. Following the completion of renovation, census continuously climbed towards stabilization. The incumbent operator was a seniors housing-focused manager also providing lower acuity senior care services on the adjacent campus. Michael Segal, Jacob Gehl, Dillon Rudy and Daniel Waldhorn handled the transaction, targeting East Coast investors and skilled nursing-focused owners/operators with existing footprints in... Read More »
Grace Management Expands Management Portfolio
Grace Management announced the addition of three seniors housing communities to its management portfolio. The communities include The Pointe at Meridian, Snow Canyon Retirement Community, and Cave Creek Assisted Living. Each will continue to be owned by Gold Stream Retirement Communities. Built in 2022, The Pointe is in Meridian, Idaho, and features 60 independent living, 30 assisted living and 10 memory care units. Occupancy is currently hovering around 90%. Snow Canyon is in Santa Clara, Utah, and is set to open in Fall 2024. It will offer 59 independent living, 43 assisted living and 15 memory care units. Cave Creek is in Cave Creek, Arizona, and is scheduled to open late 2024.... Read More »Schedule a demo
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