REIT Acquires Two Class-A Assets
The team at Newmark handled the sale of two Class-A seniors housing assets in Arkansas and Texas. The Rogers community in Northwest Arkansas was built in 2023 with 221 total units, comprising 26 cottages, 109 independent living units, 56 assisted living units and 30 memory care units. The Burleson, Texas, community also opened in 2023 and features 234 units, including 34 cottages, 110 IL, 60 AL and 30 MC units. Occupancy was in the mid-80s at both locations, but the communities were not stabilized from a cash flow perspective, especially considering the share of IL units and cottages. The purchase price was not disclosed, but the buyer was a publicly traded REIT. Read More »
Blueprint Closes Inaugural North Dakota Deal
Ryan Kelly, Steve Thomes, Connor Doherty and Kory Buzin of Blueprint arranged the sale of a 75-bed skilled nursing facility in central North Dakota. At the time of marketing, the facility was generating positive cash flow despite operating at only 50% occupancy, highlighting a compelling opportunity for an incoming operator to drive census growth and significantly enhance profitability. Through a competitive marketing process, Blueprint attracted interest from both regional and national buyers. Ultimately, a strategic investor recognized the upside potential and acquired the facility, with plans to implement operational improvements aimed at boosting occupancy and unlocking long-term... Read More »
Regional Bank Provides Refinancing
Grace Hill Capital served as exclusive financial advisor and placement agent on a refinance for a seniors housing community in Fountain Inn, South Carolina. A regional operator/borrower received the $10.33 million five-year loan with a fixed rate and one year of interest only. It was structured as a delayed draw term facility at 70% loan-to-value, including a $2.2 million earnout supporting the community’s recent assisted living expansion. A regional bank provided the loan. Read More »
Walker & Dunlop Arranges Construction Funding
Walker & Dunlop, Inc. arranged $40.52 million in debt and equity for the construction of The Highlands, a 137-unit affordable development for seniors in Hyattsville, Maryland. PJ McDevitt, managing director of W&D Affordable Debt, arranged the debt, and Macy Kisilinsky, senior managing director of W&D Affordable Equity, arranged the debt placement and equity syndication for the project. The terms were arranged on behalf of Community Housing Initiative, Inc., which is partnering with First Baptist Church of Highland Park (FBCHP) to build the affordable seniors housing project. The Highlands will be financed with an unfunded forward Freddie Mac TEL, including a taxable tail,... Read More »
Class-A Communities Secure Bridge Financing
BWE arranged a $52 million bridge loan for a portfolio of Class-A independent living, assisted living and memory care communities located across the Atlanta, Georgia, and Philadelphia, Pennsylvania, metropolitan areas. Ryan Stoll, National Director of Seniors Housing and Care at BWE, and Taylor Mokris, Senior Vice President of Seniors Housing and Care, arranged the financing. The three-year loan features a strong floating rate, flexible prepayment structure and competitive terms. Read More »Greystone Closes Large CLO
Greystone closed a large collateralized loan obligation (CLO) composed solely of healthcare assets. Greystone CRE Notes 2025-HC4, LLC is a $451.6 million commercial real estate CLO backed exclusively by bridge loans provided by Greystone. The transaction marks the firm’s eighth overall CRE CLO and the industry’s fourth-ever CRE CLO composed solely of healthcare assets. The first three were closed by Greystone in 2018, 2021 and 2024. The collateral pool for Greystone CRE Notes 2025-HC4 comprises 12 whole loans and seven loan participations secured by 46 properties in 13 states. Those properties include skilled nursing, assisted living, memory care and independent living assets. Skilled... Read More »Fortress Investment Group Divests Arizona Asset
JLL Capital Markets has closed the sale of Inspira Arrowhead, a 165-unit seniors housing community in Glendale, Arizona. The community was under the ownership of Fortress Investment Group funds for just 18 months, but in that time occupancy rose from 89% to 94% and NOI improved by 35%. Fortress bought the asset in April 2024 in a joint venture with Cogir Senior Living, so Cogir clearly did a great job (and will be continuing as manager). Alanna Ellis and Alex Sheaffer of JLL had arranged acquisition financing for that deal, and Nick Stahler, Hamid Panahi and Steve Gebbing with Institutional Property Advisors of Marcus & Millichap had handled the 2024 sale. Built in 2019, the community... Read More »Stacked Stone Makes Another Acquisition
Stacked Stone Ventures, a real estate investment firm founded by Kent Eikanas, followed up on its October acquisition in Oklahoma with the purchase of two assisted living/memory care communities in Illinois, near the St. Louis MSA. Similar to the Oklahoma deal, Stacked Stone has made an Illinois acquisition in a joint venture with the private equity firm Praxis Capital. Totaling 159 units, the communities were built in 2000 and 2004. Occupancy was in the high-60% range, so there was room to grow for the incoming operator, Longevity Senior Living. The operating margin stood close to 5%, with full financials available on LevinPro LTC. Stacked Stone can also significantly increase... Read More »Blueprint Handles Large SNF Deal in Pennsylvania
Not-for-profit to for-profit are not easy, and it took a two-year process for Blueprint to successfully close the sale of a 250-bed skilled nursing facility in Philadelphia, Pennsylvania. The property appears to be Cheltenham Nursing & Rehabilitation, one of three skilled nursing facilities owned by Dublin, Ohio-based American Health Foundation (AHF) that had agreed with the United States Department of Justice in June 2025 to pay $3.61 million to resolve claims related to billing Medicare and Medicaid for “grossly substandard skilled nursing services between 2016 and 2018.” The facilities were sued by the DOJ in June 2022 when the United States alleged that each facility failed to... Read More »JDI Realty Buys Alpharetta Asset
A partnership recently acquired Chapters Living of Alpharetta, a 79-unit assisted living/memory care community in Alpharetta, Georgia (Atlanta MSA). Built in 2013, the high-quality community was previously known as Addington Place of Alpharetta. JDI Realty, in partnership with Purity Strategies and Chapters Senior Living, bought the community for an undisclosed price. Chapters operates two nearby communities and looks to continue expanding in the greater Atlanta area. The community will be renamed Chapters Living of Alpharetta. The deal brings JDI Realty’s seniors housing portfolio to eight properties and approximately 1,000 units across the country. Read More »Schedule a demo
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