Vacant SNF Trades Hands in Missouri
Blueprint was engaged by a regional owner/operator, subject to approval by the U.S. Bankruptcy Court for the Eastern District of New York, to conduct a comprehensive marketing process for the sale of Liberty Health and Wellness in Liberty, Missouri. Formerly a 143-bed, highly-profitable and well-occupied skilled nursing facility, the asset encountered regulatory and survey challenges that led to its decertification from CMS and the Missouri Department of Health and Service Services. Shortly after the marketing campaign launched in March, the facility closed. Blueprint repositioned the 75-unit facility offering to appeal to skilled nursing, behavioral health and other alternative-use... Read More »
Berkadia Arranges Bridge Loan
Steven Muth, Austin Sacco and Garrett Sacco of Berkadia Seniors Housing & Healthcare recently utilized Berkadia’s bridge lending program to secure $10 million in bridge financing for a repeat client Pacific Northwest sponsor. The loan proceeds were used to retire existing debt on a 60-unit memory care community in Sequim, Washington, while also returning equity to the sponsor. At underwriting, the community was 87% occupied with a LTV of 57.5%. The 24-month, interest-only bridge loan was structured to meet HUD’s debt seasoning requirements, with Berkadia anticipating permanent HUD financing for the facility in early 2027. Read More »
South Carolina IL/AL Community Gets New Owner
Following its involvement in the sale of Church Hill Village in Newtown, Connecticut, to National Development and Benchmark Senior Living (plus Harrison Street’s sale of a Long Island portfolio), Newmark handled another transaction featuring another high-end asset. Developed by Bayshore Retirement Living in 2019, The Bayshore on Hilton Head Island comprises 126 independent living and assisted living units in Hilton Head Island, South Carolina. It also expanded in 2023 with 26 additional IL villas. Occupancy has consistently been strong, and we imagine the operating margin was quite healthy, too. Life Care Services was the in-place operator. The ultimate buyer was not disclosed, but... Read More »
Helios Arranges Refinance of Arkansas Community
Helios Healthcare Advisors arranged a $11.63 million refinance for a 191-unit/231-bed portfolio of assisted living and memory care communities in Arkansas on behalf of a regional owner/operator. Spread across four locations in the Ouachita Mountain region of Arkansas and primarily serving a Medicaid population, the portfolio is a sub-set of the borrower’s larger operation. It experienced challenges associated with rising costs and little to no reimbursement rate relief from the Living Choice Medicaid waiver program. The ask did not pencil out at the time it initially went to market and there was pressure from the borrower’s lender, which had inherited the credit through a recent... Read More »
Class-A Seniors Housing Portfolio Secures Refinance
BWE closed a $330 million financing on behalf of Spectrum Retirement Communities. The transaction refinances an eight-property Class-A seniors housing portfolio developed by the sponsor. They are in major metropolitan areas in four states across the Midwest and Southwest. Ryan Stoll and Taylor Mokris of BWE’s National Seniors Housing and Care team arranged the financing. The transaction attracted strong interest and competition from an array of lenders, including agencies, life insurance companies, banks and private credit firms. Ultimately, a global private credit investor provided the non-recourse financing, which includes full-term interest-only, a highly competitive interest rate, and... Read More »Texas Nursing & Rehab Incorporated in High-Profile M&A Deal in LevinPro Database
Texas Nursing & Rehab has been linked to a merger or acquisition in the LevinPro M&A deal database. The Medicare-licensed facility is a not-for-profit skilled nursing facility situated at 3428 Moulton Rd in Gonzales, Texas. It was incorporated on May 13, 1975. LevinPro, which tracks M&A activity across more than a dozen healthcare sectors from hospitals and home health to medical real estate and biopharma, profiled the transaction involving Texas Nursing & Rehab in its deal database, which is available to subscribers. LevinPro has tracked thousands of deals in the skilled nursing facility sector throughout its history. To see the underlying deal data, or for information on... Read More »
American Healthcare REIT Acquires AL/MC Portfolio
DMK Development Group divested a seniors housing portfolio in the Louisville and Lexington, Kentucky MSAs. The four communities were purposefully developed within a 50-mile radius to enhance operational efficiencies. They total 316 assisted living and memory care units, and were all opened between late 2020 and early 2022. Trilogy Health Services, a long-time operating partner of DMK’s, managed the portfolio throughout lease-up and stabilization. DMK developed the portfolio with the help of several banking partners, including Stock Yards Bank & Trust, Republic Bank, Independence Bank and Old National Bank. American Healthcare REIT acquired the communities for $65.3 million, or... Read More »
Artemis Real Estate Partners Acquires Class-A California Community
JLL Capital Markets arranged the sale of a Class-A community in Foster City, California. Built in 2016 by Atria Senior Living as part of a mixed-use master-plan town center development, Atria at Foster Square comprises 155 assisted living and memory care units. Artemis Real Estate Partners purchased the community in partnership with Atria, and Atria will continue to operate the community under its Atria Signature Collection brand. Aaron Rosenzweig and Dan Baker of JLL’s Seniors Housing Capital Markets team handled the transaction. No additional details were disclosed. Read More »
Berkadia Reports Recent Deal Activity
Berkadia announced a few closings in the Midwest. First, Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers were engaged by Ryan Companies US in its divestment of a Class-A seniors housing community in Cedar Rapids, Iowa. Built in 2017 by Ryan Companies, Grand Living at Indian Creek comprises 165 independent living, assisted living and memory care units. The property is situated near Mercy Medical Center and UnityPoint Health-St. Luke’s Hospital, two of the region’s leading healthcare providers. The in-place operator, Grand Living, will continue to manage the community. The buyer and financials were not disclosed. Fasano, Sanders, Tremper and Garbers also facilitated the... Read More »
Benchmark Acquires Fairfield County Community
Benchmark Senior Living added another Connecticut community to its portfolio, acquiring Church Hill Village in Newtown through a joint venture with National Development, a Massachusetts-based real estate investor. Built in 2019 by a partnership between Senior Lifestyle Corporation and Teton Capital Co., the 71-unit assisted living/memory care community is laid out in four connected residential neighborhoods. It is Benchmark’s 21st community in Connecticut, and the ninth in the affluent Fairfield County. The company has also made recent investments with National Development in New Jersey and New York. Webster Bank provided acquisition financing for the deal, but no terms were... Read More »Schedule a demo
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