After opening in 2017, and already filling up, a senior living community in Plymouth, Michigan (Detroit MSA) refinanced its construction debt with the help of Aron Will of CBRE. Developed by a joint venture between Boston-based private equity firm Blue Moon Capital Partners and Troy, Michigan-based operator Cedarbrook Senior Living, the community features 98 independent […]
To fund its acquisition of two skilled nursing facilities in Kentucky, an investor turned to Monticello Asset Management to arrange financing. Two of Monticello’s investment vehicles originated $8.375 million in first lien debt financing and a $1.5 million working capital loan on behalf of the buyer, Healthcare Management KY, LLC. The two facilities total 139 […]
Another front page New York Times story highlighting problems with skilled nursing facilities. I am sure many of you saw the recent New York Times article about understaffing in the nation’s nursing facilities, particularly on the weekends. The new methodology used, based on actual payrolls obtained by Medicare, indicates that staffing is 12% lower than […]
There are a lot of people who do not believe seniors housing and care companies should be publicly traded. It is not appropriate to try to manage quarterly revenues and profits when you are taking care of older, frail residents. And don’t forget the earnings disruptions that can be caused by new developments and the […]
A publicly-traded REIT divested a non-core skilled nursing facility in North Carolina. They were represented by Evans Senior Investments, which brought in a growing regional owner/operator as the buyer. Located in a tertiary market outside of Charlotte (in the town of Gastonia), the facility was operated by a national operator but averaged just 70% occupancy […]
A senior living operator is growing its portfolio outside of the Garden State for the first time, in a deal facilitated by Andrew Hilding, Josh Jandris and Mark Myers of IPA Seniors Housing. The target is located in Petersburg, Virginia, and features a 39-unit assisted living community and a 32-unit memory care community on the […]
Boosted by an especially strong April, senior care M&A in the second quarter skyrocketed above 100 transactions for just the second time ever, according to DealSearchOnline. The industry seemed to be in a deal slump over the past year and a half, never surpassing 81 deals in a quarter and falling way off the pace […]
As the temperatures rose, the team at Senior Living Investment Brokerage heated up too, following up its portfolio closing in Florida with two deals in the Lone Star State. First, in east Texas, Matthew Alley worked with an independent owner/operator to sell their long-held skilled nursing facilities in Grand Saline and Athens. Built in the […]
Blueprint Healthcare Real Estate Advisors proved they don’t need a building to sell a piece of property. When EB-5 investor PDC Capital’s assets were placed into an SEC receivership in January 2017, per the order of a federal judge, included in the frozen assets were four assisted living development sites in California. Thomas Seaman and […]
The Ensign Group picked up a struggling skilled nursing facility in Idaho, taking over both the operations and real estate. The 40-bed skilled nursing facility is located in the resort town of McCall (situated on Payette Lake) in western Idaho. Previously operated by Tanabell Health Services, it was just 70% occupied at the time of […]