• Knapp-Stahler Handles Receivership Sale in Utah

    After a prolonged receivership process, an assisted living/memory care community in Sandy, Utah, successfully sold with the help of Chad Mundy and Nick Stahler of The Knapp-Stahler Group of Marcus & Millichap. Built around 2000, the community features an assisted living component with 44 units and 58 licensed beds plus a memory care community... Read More »
  • Green Courte Acquires Active Adult Community

    CBRE National Senior Housing acted as the exclusive advisor on the sale and debt placement of 55 Resort at Water Valley, a 120-unit active-adult community in Windsor, Colorado, just north of Denver. John Sweeny and Aron Will represented the seller, while Will and Adam Mincberg originated a 10-year fixed-rate loan through CBRE’s Fannie Mae DUS... Read More »
  • Ziegler Works on Financings for Two Not-For-Profits

    Ziegler worked on two financings for separate not-for-profits. First, Ziegler closed $39.24 million Series 2025 tax-exempt, fixed rate bonds for Bethesda Senior Living Communities (BSLC). The bonds were issued through the Colorado Health Facilities Authority. It has been seven years since its last financing in 2018.  BSLC and its parent... Read More »
  • Ventas Acquires in Florida to Expand Relationship with SRI

    Ventas acquired an assisted living/memory care community in Jacksonville, Florida, in partnership with SRI Management as the operating company. The deal is an expansion of the relationship between the REIT and the Tallahassee-based operator. Brad Clousing, Dan Geraghty and Jeff Binder of Senior Living Investment Brokerage handled the transaction... Read More »
  • IRA Capital Buys San Diego Community

    Ziegler served as exclusive financial advisor in the successful sale of St. Paul’s Plaza, a 155-unit seniors housing community located in Chula Vista, California. The seller was St. Paul’s Senior Services, a not-for-profit organization that was looking to expand in PACE (Program of All-Inclusive Care for the Elderly) as well as provide more... Read More »

Monarch Advisors Primes Oregon Community for Permanent Refinance

Monarch Advisors, an affiliate of Senior Living Investment Brokerage, closed a new loan to refinance and expand a 38-unit memory care community in the Portland, Oregon area. The local owner engaged Monarch to source $8.75 million of senior debt for the transaction. Alec Blanc of Monarch secured a commitment from a regional bank that specializes in senior housing nationally. The loan retired the existing bank debt on the property and provided cash at closing to fund a 16-unit expansion. At less than 60% of the as-stabilized value, the community will be well-positioned for a permanent mortgage upon completion and lease-up. The rate floats at Prime with typical financial covenants and... Read More »

Fortress Investment Group Acquires Scottsdale Property

CBRE National Senior Housing arranged the sale and acquisition financing for Andara Senior Living, an independent and assisted living community in Scottsdale, Arizona. This transaction was CBRE’s third financing of the community, having previously arranged acquisition financing on behalf of the current seller (real estate investment firm Reliant Group) in 2012 and an agency refinance in 2018. Reliant decided to turn over its asset into the hands of a joint venture between Colonial Oaks Senior Living and Fortress Investment Group. Built in 2010, the community consists of 170 total units spread across a campus of two, three-story residential wings interconnected by a covered walkway. Through... Read More »

Primrose Senior Living Sells Four-State Portfolio

The Primrose Retirement Communities Portfolio consisting of four independent and assisted living communities has been sold to an undisclosed public REIT and a regional private equity group. The portfolio comprises 351 total units (199 IL and 152 AL) and is spread out across four states: Colorado (Pueblo), Indiana (Kokomo), Oklahoma (Stillwater) and Wyoming (Cheyenne).  Built between 2008 and 2013, the seller Primrose Senior Living decided to divest these assets with the intention of recapitalizing, paying off investors, and establishing a new capital relationship. Primrose remained as the portfolio’s operator as well. Each community maintained above-average occupancy levels throughout... Read More »

Parentis Health Acquires Quality Life Homes

Parentis Health has acquired Quality Life Homes, a small senior living portfolio of five communities in Laguna Niguel, California. Parentis Health will be adding this portfolio into its Verona Court portfolio of senior residential care properties. Verona Court will now operate 16 senior care facilities with this latest acquisition.The seller of Quality Life Homes is Dawn Sather, who started her business in 1991 with her husband. After he passed away in 2021, Dawn made the decision to sell the company and ultimately chose Parentis Health as the buyer because of the similar model that Verona Court has in place. With six beds per home and three or fewer patients per caregiver, its staff will... Read More »

Dialyze Direct Partners with CommuniCare

CommuniCare Family of Companies has been in the news a lot lately, with its role in the acquisition of Stonerise Healthcare in West Virginia, but the operator also just announced a partnership with Dialyze Direct, a provider of home hemodialysis services in skilled nursing facilities, to conduct onsite hemodialysis services at its facilities across the country. Dialyze Direct now covers 170 SNFs in Florida, Illinois, Indiana, Kentucky, Maryland, Missouri, New Jersey, New York, Ohio, Pennsylvania, Tennessee, Texas, Virginia, and West Virginia. The company has been on a major growth path this year, announcing three separate acquisitions of other dialysis providers: RenPro Renal Services in... Read More »

Northland Networks Closes Construction Loan

Northland Networks recently closed a senior housing construction loan for a project in Ormond Beach, Florida (Daytona Beach MSA). RBS Development Group LLC, an experienced assisted living developer in the state of Florida, is building the community to feature 131 units of assisted living and memory care. Northland Networks served as exclusive placement agent for the $28.5 million loan participation, and Meridian Capital Group handled the transaction. This week, Northland also branched out of the seniors housing business to close a first mortgage loan for Sunview Medical Day, an outpatient behavioral health facility managed by Cedar Health in West Palm Beach, Florida. Northland once again... Read More »

CFG Announced H1:22 Transaction Volume

Capital Funding Group announced its transaction totals for the first half of the year, which surpassed $1.8 billion in financing volume. The deals included 55 bridge loans and 13 HUD loans for the firm’s skilled nursing, assisted living and multifamily clients across the country. Over $1 billion of this financing was attributed to its senior care clients. Highlights of the half-year include a $316.9 million bridge loan to refinance a large skilled nursing portfolio and  $197.5 million acquisition bridge loan for a 24-facility portfolio in Maryland, Virginia and North Carolina.  Next was a $135 million bridge loan arranged for the refinancing and dividend recapitalization of a... Read More »

Invesque Divests Two New York Communities

Invesque Inc. divested a number of non-core assets in the seniors housing and medical office building sectors, including its interest in two active adult communities in Wheatfield, New York (Buffalo MSA). Originally acquired in 2018 as part of Invesque’s acquisition of Care Investment Trust, the communities were operated by Calamar (which is based in Wheatfield) under a joint venture structure. They were both built in the late-2000s.  The purchase price comes to approximately $29.3 million, or $145,000 per unit, with a cap rate of 5.7% based on trailing NOI. Invesque received net cash proceeds of $10 million at closing, which it plans to use to de-lever and simplify its balance... Read More »

60 Seconds with Steve Monroe: Investors Need Some Straight Talk

I know we live in a litigious country, and public companies have their teams of lawyers and PR consultants to protect them, telling them to disclose a minimum amount of information. But don’t you think it is time for some straight talk? I do. We are coming out of the pandemic distress, slowly for some and not as slow for others. Butwith census growth not what it was in the second and third quarters of 2021, let’s admit that this will be a long slog. We need both large census increases combined with margin increases. We will not get both as long as labor costs keep rising and inflation levels remain at 40-year records. And it is doubtful we will get back to the census levels of 2014-2015... Read More »

Queen Creek Community Refinances with Fannie Mae

A joint venture between American Care Concepts and private investors refinanced its Queen Creek, Arizona community with the help of JLL Capital Markets. The firm arranged a $10.5 million refinancing for the newly constructed Countryside Living, a 40-unit assisted living and memory care community located just outside of Phoenix. Brad Miner, Alanna Ellis, Martin Mbeteni and Zach Brantley of JLL worked on behalf of the borrower to originate the 10-year, fixed-rate Fannie Mae loan. Also, the loan will be serviced by JLL Real Estate Capital, LLC, a Fannie Mae DUS lender. Read More »

Lument Refinances Great Lakes Portfolio

Lument closed an $87 million HUD refinance of nine skilled nursing facilities with a total of 691 beds located in Ohio, Michigan and Wisconsin. Managing Director Brad Competty led the transaction for Lument. The operator, Atrium Centers Inc., is a provider of short-term post-acute rehabilitation and long-term nursing care across its 29 facilities in Ohio, Michigan, Kentucky, and Wisconsin with over 2,000 total beds. The nine refinanced properties had remained stabilized throughout the pandemic and were thus ready for the HUD refinance. Lument was able to obtain low, fixed interest rates on all nine loans before rates significantly rose. Read More »