New England SNFs Struggling to Breakeven Sell
Blueprint represented a private equity investor in its divestment of a 302-bed skilled nursing portfolio in New England. The facilities had challenged occupancies, however, they generated approximately $27 million in revenue. Inflated operating costs took its toll on EBITDAR, with the asset struggling to breakeven. Dubbed Project Red Coats, the buildings are located in the Boston, Massachusetts MSA, a strong market. Steve Thomes, Ryan Kelly, Kory Buzin and Connor Doherty emphasized the opportunity for a new owner to focus on rate and occupancy optimization, while managing expenses and maintaining the facilities’ in-place referral network. The result was several written letters of... Read More »
Assisted Living Portfolio Secures Refinance
Berkadia announced the refinancing of a nine-property assisted living portfolio spanning Ohio and Pennsylvania. Steve Muth, Garrett Sacco, Austin Sacco and Alec Rosenfeld arranged the $114.37 million financing through Bloomfield Capital Partners, LLC on behalf of the borrower, a joint venture with an experienced owner and New Perspective Senior Living, LLC. The two-year, interest-only bridge loan closed in less than 30 days from signed application. Proceeds are being used to refinance maturing debt and position the portfolio for its next phase of the business plan. Acquired by the joint venture in 2022, the 580-unit portfolio is in the Cleveland, Ohio MSA, and in multiple markets... Read More »
Lument Rolls Out Seniors Housing Investment Sales Platform
Alex Florea and Kevin Lukehart have joined the Lument team as managing director and director, respectively. This expands Lument’s real estate investment sales platform into seniors housing. Florea will lead the team, working closely with John Sebree, head of real estate investment sales, and Aaron Becker, head of seniors housing and healthcare debt production. Florea comes over from Blueprint, most recently as a managing director leading the national institutional coverage team. In that role, he closed more than $2 billion in transactions as a broker. As principal in prior roles, he closed more than $7 billion at Ventas, Enlivant, and Care Capital Properties (now part of Sabra Health Care... Read More »
Diversified Healthcare Trust’s SHOP Delivers Strong Results
Diversified Healthcare Trust (DHC) announced fourth-quarter earnings and full-year 2025 results, and its SHOP segment delivered. Same-property SHOP NOI in the fourth quarter jumped 27.6% year over year to $38 million, and full-year SHOP NOI climbed 31.3% to $129.3 million. Same property SHOP occupancy reached 82.4% in Q4, up 90 basis points from the prior year. Momentum should continue into 2026, particularly following DHC’s transition of 116 SHOP properties previously managed by AlerisLife to a roster of seven new operators. Sinceri Senior Living and Discovery Senior Living assumed the largest shares, 38 communities with 7,299 units and 44 communities with 5,338 units,... Read More »
Lease Option Closes for High-Performing CT SNFs
A long-time regional owner/operator looking to secure capital for future redeployment into the skilled nursing sector approached Blueprint to market two skilled nursing facilities. The high-performing assets sit 40 miles apart in southern and western Connecticut with 301 total beds. The non-union facilities were generating $4.4 million of EBITDAR on $36 million of revenues, with a combined 86% occupancy. The physical plants present well. The offering was initially brought to market as a sale, however, the optimal offer was a lease with a purchase option. Steve Thomes, Michael Segal, Kory Buzin and Daniel Waldhorn handled the deal, which allows for assumption of the existing HUD loan if... Read More »
Not-for-Profit Acquires North Carolina Seniors Housing Portfolio
A few seniors housing communities in North Carolina were recently divested by a North Carolina owner/operator. The three assets total 61 independent living units and 173 assisted living and memory care beds. The independent living component was developed by the seller. The buyer, a not-for-profit with more than 30 years of experience acquiring and operating assisted living and memory care communities, is expanding its presence in the portfolio’s region. Brandon Bohland and Collin Hempfling of Senwell Senior Investment Advisors handled the deal. Read More »
Skilled Nursing Owner/Operator Secures Its First HUD Financing
In a transaction that marks the third time Berkadia has secured financing for the asset, the company arranged a $35.4 million HUD financing for a 189-bed skilled nursing facility in Lafayette Parish, Louisiana. The asset was developed in three phases between 1996 and 2007. It has been owned by a Louisiana-based owner/operator of skilled nursing facilities since 2021, when it purchased the property from a REIT. Berkadia providing acquisition financing at that time, which was later refinanced with a debt fund in 2024, also retiring a portion of related-party debt created in conjunction with the acquisition. The 2026 HUD loan features a 35-year fully amortizing term and refinanced the... Read More »
Senior Care Portfolio Receives Financing
MONTICELLOAM provided financing to three seniors housing communities in Illinois. Originated by Karina Davydov, the package includes up to $44 million in bridge financing with a 36-month term. The portfolio offers independent living, assisted living, memory care and skilled nursing services. The sponsor, a Midwest-based senior living operator that manages more than 40 senior living properties, used loan proceeds to refinance the existing debt on the 420-unit portfolio. Read More »
Logos Living Capital Acquires Invesque Assets
Back in December, Invesque announced that it completed the sale of four seniors housing communities for $57 million. The assets sit in New Jersey and Pennsylvania and were previously part of a joint venture with Heritage Senior Living, which managed the portfolio. Invesque did not include any additional details at the time of the announcement, but it was later disclosed that Logos Living Capital was the buyer and would bring on one of its operating partners, Viva Senior Living, to manage the buildings. The portfolio includes Heritage Hill Senior Community in Weatherly, Pennsylvania, Belle Reve Senior Living in Milford, Pennsylvania, Cardinal Village in Sewell, New Jersey, and Viva... Read More »
Strawberry Fields REIT’s 2025 Growth
Strawberry Fields REIT reported its 2025 operating results, noting that it was the best year since its inception more than 10 year ago. The company posted significant increases in FFO and AFFO, and it completed more than $110 million in several new acquisitions. Its portfolio now includes 131 skilled nursing facilities, 10 assisted living communities and two long-term acute care hospitals totaling more than 15,600 beds in Arkansas, Illinois, Indiana, Kansas, Kentucky, Missouri, Ohio, Oklahoma, Tennessee and Texas. FFO totaled $79.6 million in 2025, up 32.2% from 2024’s $60.2 million. Net income also increased, rising $6.8 million year over year, driven largely by a 32.4% increase in... Read More »Schedule a demo
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