SLIB Sells a Class-A Mississippi Asset
Senior Living Investment Brokerage facilitated the sale of a seniors housing community in the Gulfport/Biloxi area of Mississippi. Featuring 18 independent living, 60 assisted living and 62 memory care units, the community was built in phases between 2019 and 2025. It is located in the town of Ocean Springs with no major competitors in the local market offering a continuum of care on one campus. The property was stabilized at the time of the sale. A Mississippi-based partnership developed the asset and chose to divest in order to exit the seniors housing sector. The buyer is a Southeast-based regional owner/operator with an existing presence in the state. Daniel Geraghty and Bradley... Read More »
Marx Development Group Finalizes West Virginia Acquisition
Lument Securities has closed the sale of four West Virginia-owned skilled nursing facilities to Marx Development Group (MDG). MDG subsidiary Majestic Care is taking over operations at the facilities in a smooth transition. The deal closed on October 31. Managing Director and Head of Mergers & Acquisitions Laca Wong-Hammond orchestrated the sale on behalf of its client, the state of West Virginia. There was an extensive marketing campaign that resulted in an active bidding environment, with over 140 parties indicating interest, 62 moving forward to signing non-disclosure agreements (NDAs), and nearly a dozen parties submitting letters of intent. MDG was selected due to its experience,... Read More »
Florida Portfolio Receives Financing
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, provided a $120 million bridge loan to finance five skilled nursing facilities in Florida comprising 795 beds. The debt was used to refinance the 120-bed Parklands Care Center & Rehab in Gainesville, and the 120-bed Riverwood Healthcare & Rehab Center in Starke. It also funded the acquisition of the 299-bed Balanced Healthcare in St. Petersburg, the 76-bed Gulfside Health & Rehab Center in Clearwater, the 180-bed Lake Placid Health & Rehab Center in Lake Placid. To further support the facilities’ operations, Dwight Healthcare Funding also provided a $20 million working capital line of credit in conjunction with... Read More »
Seller Divests and Exits Seniors Housing Space
Brooks Minford of Berkadia sold a seniors housing campus in central Florida, in the town of Lakeland between Orlando and Tampa. Built in 2014 and 2017, the community features 156 units of independent living, assisted living and memory care. It was well occupied at 90%. The seller, which is focused on the retail and multifamily sectors but had been involved in seniors housing for more than a decade, wanted to exit the space. Berkadia had previously arranged financing for them. Minford sold the community to a family office with an operating partner. The purchase price was not disclosed. Read More »
Not-For-Profit Completes Its Largest Senior Living Financing
Ziegler announced the pricing of Horizon House’s $600.0 million Series 2025AB bonds through the Washington State Housing Finance Commission. The bonds are set to close in December. This financing is Horizon House’s largest senior living financing completed to date. Horizon House is a Washington 501(c)(3) organization that was established in 1961 to develop, own and operate seniors housing communities. Today, the organization owns and operates a CCRC in Seattle, Washington, that offers 377 independent living apartments and 90 assisted living apartments including memory care services. The bonds will be used to fund the new West Tower, a 33-story independent living high-rise consisting... Read More »
60 Seconds with Steve Monroe: You’ve Got To Be Kidding
Sadly, we are not kidding. President Trump has shown his true colors, and his true loyalty to the almighty dollar, with yet another pardon of one of the bad boys of senior care. But this bad boy is the worst of the group. We are referring to the just announced pardon of criminal Joseph Schwartz, the former owner of Skyline Health. Several months ago, after his last senior care pardon, we ended a story with, who’s next, Joseph Schwartz? We were kidding, but not laughing now. Not only did he commit a nearly $40 million fraud against us, the taxpayers, but he also put the well-being of several thousand patients in his nursing homes in jeopardy as he sucked as much cash out of them as he could... Read More »
Publicly Traded REIT Divests Seniors Housing Portfolio
A Wisconsin-based developer sold its five seniors housing properties in the Badger State to LTC Properties. Tukka Properties has a longstanding relationship with Walker & Dunlop, which had secured development debt, equity and permanent financing for the assets over the years and had also sold a Tukka-developed property to Welltower in 2021 (see details of that deal here). Now, the Walker & Dunlop team led by Alex Vice and Matthew Lund sold four properties, with a fifth property sold by Jason Punzel, Jake Anderson and Ryan Saul of Senior Living Investment Brokerage. Totaling 520 units, the five communities feature a combination of independent living, assisted living and memory... Read More »
Sale Revives Stalled Seniors Housing Development
Blueprint closed on the sale of a partially developed seniors housing community in Pearland, Texas. Originally planned as a 198-unit independent living, assisted living and memory care community on 9.6 acres, the project was approximately 60% complete when development stalled. Blueprint targeted seniors housing operators and developers, as well as multifamily groups exploring adaptive reuse options. After a years-long process and multiple offers, including two that tied up the asset prior to closing, Moody National Companies emerged as the ultimate buyer. Moody is a Houston-based developer with a strong track record in multifamily investments. While initially exploring alternate uses for... Read More »
MONTICELLOAM Closes One of Its Largest Financings
In one of the largest financings the firm has ever completed, MONTICELLOAM, LLC, along with firm affiliates, funded $470.5 million in total bridge and working capital financing for a sixteen-facility skilled nursing portfolio. The sponsor group, which owns and operates over 200 skilled nursing facilities across the country, used the $455.5 million bridge financing to refinance existing debt on the Virginia assets. In addition, MONTICELLOAM arranged a $15.0 million working capital line of credit for the borrower to manage the daily operational needs of over 2,000 licensed beds. In another financing, MONTICELLOAM and firm affiliates provided a $28.5 million senior bridge loan for two... Read More »
Cash Flowing Assets Trade in Florida and Oregon
Blueprint was engaged by a repeat institutional private equity client in the sale of a Class-A assisted living/memory care community in the Clearwater, Florida MSA. The community has received investments over the years and offered immediate in-place NOI and strong operating margins, while presenting some value-add opportunities. Kyle Hallion, Dillon Rudy and Jacob Gehl identified a large, privately held owner/operator based in Georgia as the ultimate buyer. The group has meaningful scale in the Southeast and is eager to grow in Florida. This marks the second transaction between the same buyer and seller, following a successful multi-asset portfolio sale earlier this year. Rudy and Gehl... Read More »Schedule a demo
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