Lancaster Pollard’s Brendan Healy, Doug Harper and Casey Moore helped the owner of a 64-unit memory care community in Powell, Ohio (Columbus MSA) obtain a cash-out refinance through Fannie Mae. Built in 2016 at a cost of $12.5 million, or just below $200,000 per unit, the community was developed by Eleanor Alvarez, the CEO of […]
Facing rising short-term interest rates, a not-for-profit CCRC in the Philadelphia, Pennsylvania, market turned to Ziegler to refund its existing bank debt with a tax-exempt bond issue. The community is located on a 63-acre campus about 10 miles northwest of downtown Philadelphia in the town of Gladwyne, offering 151 independent living units, 69 IL villas, […]
Brookdale Senior Living investor Land & Buildings has nominated Jonathan Litt and Jay Flaherty to Brookdale’s board. Still pushing for a REIT spin-off? He’s baaaack. After his 10-year stint as CEO of HCP, Inc., which included his ill-fated and ill-timed acquisition of the former HCR ManorCare, Jay Flaherty may be back in the senior care […]
A week after it was announced that Chicago Pacific Founders acquired a new senior living community in Conroe, Texas, the firm followed it up with another purchase, this time in Scottsdale, Arizona. Featuring 101 units of independent living and assisted living, the community will now be managed by CPF’s operating subsidiary, Grace Management. The community […]
Artemis Real Estate Partners recently acquired a 120-unit assisted living/memory care community in Cooper City, Florida (Broward County) for approximately $37.5 million, or $312,500 per unit. AEW Capital Management was the seller, having purchased the original site in 2015 for $2.5 million and developed the community in 2017. Senior Lifestyle Corporation operates the community. Artemis […]
Cushman & Wakefield acted as the exclusive advisor to a joint venture between The Waters Senior Living and Harrison Street Real Estate Capital on the refinance of their 136-unit senior living community in White Bear Lake, Minnesota. Developed in 2016, this community provides independent living, assisted living and memory care services under The Waters brand. […]
With Baby Boomers still too young to move into most seniors housing communities and labor costs growing, many companies see opportunity in the active adult market, which some view as a largely untapped market. We’ll have to see how “under the radar” these assets will stay in the next couple of years. Jumping into the […]
Check out our recent senior care M&A deals.
Last week, we discussed the stock performance of the seniors housing and healthcare providers. Now, it’s the healthcare REITs’ turn. Overall, it was a good first half of the year, with all of them posting price increases, with the exception of Senior Housing Properties Trust, reflecting its Five Star problems. Its share price tumbled by […]
The Portopiccolo Group just made its third skilled nursing acquisition of the year, making it one of the most prolific buyers in that space in 2019. Its most recent target was a 150-bed skilled nursing facility in Virginia Beach, Virginia. To fund the acquisition, Portopiccolo turned to Contemporary Healthcare Capital to closed $1.97 million in […]