Staten Island SNF Secures Financing
MONTICELLOAM announced the financing of a $25 million mezzanine loan for a skilled nursing facility in Staten Island, New York. The sponsorship group, a longstanding MONTICELLOAM client, has an existing footprint with a portfolio spanning the East Coast. The loan proceeds will be used to recapitalize the existing equity in the 300-bed facility. Read More »Estes Family Trusts Lead Alabama Skilled Nursing Market Through NHS Management
Jennifer Lee Estes Tr 031093 and James Norman Estes Jr Tr jointly lead Alabama’s skilled nursing facility sector with 30 facilities each, according to the most recent Centers for Medicare & Medicaid Services (CMS) data from January 2025. These related trusts share ownership interests in 45 facilities across four states, with Alabama representing their strongest market presence. The Estes family operates these facilities through NHS Management, LLC, a company led by J. Norman Estes as President and CEO. Ownership Structure and Portfolio Distribution The Estes trusts maintain primarily indirect ownership stakes in their facilities, with Jennifer Lee Estes Tr 031093 holding 6.25%... Read More »Pacs Group, Inc.: California’s Dominant Skilled Nursing Provider
Pacs Group, Inc. has established itself as the dominant player in California’s skilled nursing facility (SNF) landscape, operating 118 facilities across the state according to the most recent CMS data from January 2025. Beyond California, the company has strategically expanded into eight additional states, with significant presence in Colorado and South Carolina (19 facilities each), and smaller footprints in Kentucky (7), Ohio (6), Arizona (4), Nevada (4), Missouri (2), and Texas (2). Founded in 2013, Pacs Group has grown into one of the largest post-acute care platforms in the United States, now serving over 22,000 patients daily across 218 healthcare facilities with approximately... Read More »Estes Trust Leads Alabama Skilled Nursing Market with Multi-State Portfolio
The James Norman Estes Jr Trust is Alabama’s leading skilled nursing facility owner with 30 facilities in the state, according to the most recent Centers for Medicare & Medicaid Services (CMS) data from January 2025 . The trust’s influence extends beyond Alabama, with additional facilities in Arkansas (5), Florida (5), and Missouri (5), bringing its total portfolio to 45 skilled nursing properties. This summary examines the trust’s ownership structure, market position, leadership connections, and the regulatory environment affecting its operations. Ownership Structure and Portfolio The trust maintains minority ownership stakes in its facilities, typically holding... Read More »
60 Seconds with Swett: See You in San Diego
By the time many of you are watching this, we’ll be in San Diego at the NIC Spring Conference, ready to catch up with our industry friends and hopefully meet a few new dealmakers, too. If you see me or my colleagues Steph Mallozzi and Ryan Marszalek in the hallways, please feel free to say hi and give us your thoughts on the current M&A, financing and development markets, and we’ll give you our opinions too. But if you aren’t going or are stuck in meetings all day, every day, then you’ll have a chance to hear takeaways from the conference plus see our latest proprietary seniors housing and care valuation statistics by tuning into our March 12th webinar at 1pm ET. Panelists JP LoMonaco,... Read More »
Brookdale Closes Two Portfolio Acquisitions
Brookdale Senior Living announced the closing of two portfolio acquisitions, completing the three-portfolio, 41-property acquisition plan initially announced in September 2024. Through ownership of these communities, including the 11-property portfolio acquisition completed in December 2024, Brookdale is coming closer to its year-end goal of owning more than 75% of its consolidated unit count. In one deal, Brookdale acquired five communities (686 units) previously leased from Welltower for $175 million, or $255,100 per unit. Averaging around 25 years in age, the communities are primarily located in affluent or very affluent markets and together comprise 270 independent living units, 170... Read More »
Walker & Dunlop Closes Colorado Deal
Walker & Dunlop’s Gideon Orion, Tony Cassie and Sam Thompson recently facilitated the sale of a struggling, Class-A, 134-unit assisted living/memory care community in the Denver metro area. The community first opened in 2016, financed via Series 2017A and 2017B tax-exempt state bonds, and it is still among the newest senior living assets in its market. The seller, a regional not-for-profit CCRC owner/operator, took over management in late 2023 on an interim basis as part of a not-for-profit merger. They, along with the bondholders, exclusively engaged Walker & Dunlop for the deal team’s bond-financed and non-profit asset disposition experience, to execute the transaction for all... Read More »
Ensign Grows Again
The Ensign Group announced two separate transactions that closed on the same day involving several assets. First, Ensign acquired the real estate and operations of Citrus Heights Respiratory and Rehabilitation, a 204-bed skilled nursing facility, and Springdale Village Post Acute, a 122-bed skilled nursing facility, both in Mesa, Arizona. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc. Ensign next acquired the real estate and operations of Polaris Extended Care and Polaris Transitional Care, a skilled nursing facility with 146 beds in Anchorage, Alaska; Horizon House, a 90-unit seniors housing community in Anchorage, Alaska; Mt. Angel Health and... Read More »
Oxford Finance Closes Major Credit Facility
Oxford Finance closed a $256.85 million senior credit facility for a client in California. Proceeds were primarily used to refinance four skilled nursing facilities featuring 356 total beds and acquire thirteen skilled nursing facilities with 1,451 total beds across the state. The acquired portfolio featured facilities built from the late 1960s to the late 1970s, with occupancy in the low- to mid-90s. They were previously owned by a third-party real estate owner and an owner/operator that was retiring. A regional owner/operator was the buyer and had a strong existing relationship with Oxford. The transaction closed just 20 days after term sheets were signed. Read More »
Carlton Senior Living Secures Fannie Mae Loan
Aron Will, Andrew Behrens, and Adam Mincberg originated a cash-out, $18.5 million, 10-year fixed loan through CBRE’s Fannie Mae DUS Lending Platform on behalf of Carlton Senior Living for Carlton Senior Living Pleasant Hill – Downtown. The refinance allowed Carlton to reconstitute its original joint venture ownership into a closely held Tenant-in-Common ownership structure. Originally built in 1997, the community features a total of 119 assisted living and 12 memory care units with 24 beds in Pleasant Hill, California. Carlton Senior Living has renovated the community since development. Following a renovation in 2024, the community demonstrated sustained operational performance... Read More »Schedule a demo
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