JV Acquisition Supported by Structured Capital Stack
After Verdot Capital announced that they partnered with 12 North Capital to purchase Cascades of Grants Pass (a 64-unit full-continuum community in Grants Pass, Oregon), Blueprint revealed that it structured the capital stack for the acquisition. Kristen Ahrens and Pat Maloney presented the transaction to more than 50 capital sources, leading to several parties showing interest. Both the debt and preferred equity were sourced on behalf of the experienced GP borrower. Blueprint targeted regional/national banks, life companies and private lenders for the debt, with a large regional bank winning the debt as a result of their strong terms and pricing, which... Read More »
New Owner/Operator Advances Growth Plan
Shortly after its November acquisition in Dallas, Texas, Unbridled Living acquired another seniors housing community, this time in North Carolina. This is the company’s third acquisition, all of which have been completed in under a year, and it currently has three additional acquisitions under contract scheduled to close in Q1:26 (see the details on its first and second acquisition on LevinPro LTC). The company is targeting the middle market, with a goal of delivering strong care at an affordable price point while operating profitably. Built in 1981 and 1998 and renovated in 2021, Heritage Place of Fayetteville features 137 independent living and... Read More »
Three Deals Close in Three States
Senior Living Investment Brokerage came out with a flurry of closings this week, spread across the country in Minnesota, Utah and New York. Jake Anderson and Ryan Saul first sold a 72-unit seniors housing community in Orono, Minnesota. Featuring a mix of independent living, assisted living and memory care units, the community was the sole seniors housing project developed by a group of local investors. It was 85% occupied at the time of marketing and operating at a 27% margin on $4.28 million of revenues. Operations improved throughout the process, as well. Vincent Companies revealed itself to be the buyer of Stonebay of Orono and will rename the community Valora Senior... Read More »
ESI Handles Ensign Acquisition
In one of the three acquisitions most recently announced by The Ensign Group, Evans Senior Investments served as the seller’s advisor, securing a capital buyer for the real estate and facilitating the new lease with Ensign. That deal included two skilled nursing facilities in the Denver, Colorado MSA, Edgewater Health and Rehabilitation in Lakewood with 69 beds and The Rehabilitation Center at Sandalwood in Wheatridge with 103 beds, which total 172 beds. While both facilities were performing well at the time of sale, ESI highlighted the opportunity for a new operator to drive further value by growing the post-acute census and reducing operating expenses... Read More »
Two Refinances Close in New York
NewPoint Real Estate Capital LLC provided refinances to a skilled nursing facility in central New York and a skilled nursing facility in Bronx, New York. Erik Lindenauer, President of FHA and leader of the firm’s healthcare originations platform, arranged both transactions. First, Lindenauer arranged a $19.8 million FHA 223(f) loan to refinance a 112-bed skilled nursing facility in Central New York. The transaction featured a split mortgage structure with differing amortization schedules designed to align with the expiration of a portion of the property’s reimbursement stream. Next, Lindenauer arranged a $26.3 million bridge-to-HUD loan to refinance an assisted living community... Read More »
SLIB Closes North Carolina and Florida Deals
The closings keep on coming from Senior Living Investment Brokerage. Brad Clousing, Dan Geraghty and Patrick Burke first facilitated the sale of a 137-unit independent living/assisted living community in Fayetteville, North Carolina. Built in 1981 and 1998, with a renovation in 2021, the community was being divested in order for the seller to focus on communities in its current footprint. Unbridled Living, a regional owner/operator based in Kentucky, made the purchase, which is its third acquisition completed this year. Unbridled revealed that the community was previously known as Heritage Place of Fayetteville and will be rebranded Unbridled Living of Fayetteville. It made the... Read More »
Journey Healthcare Acquires From Selectis Health
Selectis Health, formerly known as Global Healthcare REIT, sold two skilled nursing facilities in Georgia. The deal included the 71-bed Providence of Sparta Health & Rehab in Sparta and the 110-bed Warrenton Health & Rehabilitation in Warrenton, which had been owned by Selectis/GHR since 2013, according to LevinPro LTC. Selectis announced that the facilities sold for a combined $13.175 million, or $72,800 per bed. The deal is expected to close on February 1, 2026. According to the purchase and sale agreement, the buyers are entities linked to Bernie McGuinness, the founder of Journey Healthcare. Founded in 2024, Journey operates skilled nursing facilities... Read More »
Several HUD and Acquisition Financings Close
Ikaria Capital Group has had a prolific Fall and revealed several recent transactions. The largest was a $115.5 million HUD refinance for four skilled nursing facilities in Georgia. Derek Whelan originated the loans on behalf of Empire Care Centers and The Portopiccolo Group, which used the proceeds to refinance a proprietary bridge loan structured by the Ikaria team in 2022. Whelan was also joined by Rodger Davis to close a $44.5 million HUD refinance in the Midwest. Wrapping up the HUD activity, Ross Holland originated a $10.9 million loan in the Pacific Northwest on behalf of a new client. Lastly, there were a couple of acquisition loans. First, Davis... Read More »
Sabra Health Care REIT Buys Class-A Georgia Asset
Berkadia represented Principal Senior Living Group in its sale of Benton House Decatur, a 73-unit assisted living and memory care community in Decatur, Georgia, approximately ten miles northeast of downtown Atlanta. Managing Directors Ross Sanders, Dave Fasano, Cody Tremper, and Mike Garbers of Berkadia Seniors Housing & Healthcare closed the transaction. Benton House Decatur was purchased on December 1 by a long-time owner of seniors housing communities and will be operated by Phoenix Senior Living going forward. The community’s new name will be The Retreat at Decatur. Built in 2017, the property has achieved steadily high occupancy and strong margins, boasting an... Read More »
Family Owned/Operated Company Purchases in Ostego
A family owned and operated company based in Michigan bought an assisted living/memory care community in the Wolverine State. Built in 2016, the community is located in Otsego, Minnesota, about 40 miles south of Grand Rapids and 10 miles north of Kalamazoo. There were no major competitors in the local market that offered both AL and MC services on one campus. And the community was stabilized at the time of the sale. Daniel Geraghty, Bradley Clousing and Matthew Alley of Senior Living Investment Brokerage represented the seller, an owner/operator that focuses on states east of the Mississippi River. There were multiple qualified offers for the seller to review, and the deal closed... Read More »Schedule a demo
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