National Health Investors’ CFO Retires
National Health Investors’ John Spaid, Executive Vice President and CFO, will retire effective July 1, 2026. The company will appoint Todd Siefert as Executive Vice President Corporate Finance, effective June 1, 2026, and he will succeed Spaid as CFO. Also as part of the transition, Dana Hambly has been promoted to Senior Vice President of Finance to assume expanded responsibilities. Siefert brings more than 25 years of experience in corporate finance, capital markets, treasury management and investor relations, with expertise in publicly traded REITs. He most recently served as CFO of Hillsboro Residential, where he oversaw debt and equity financing, financial underwriting, and investor... Read More »
NHI and National HealthCare Corporation Ending Master Lease
In a move to concentrate its portfolio on private pay seniors housing, National Health Investors divested a large skilled nursing portfolio for $560 million, before estimated transaction costs between $6 million and $8 million. The buyer was the current lessee, National HealthCare Corporation, whose legacy master lease was established in 1991 and set to expire in December 2026. Last year, NHI had formally notified National HealthCare Corporation that it was in default, and this deal will bring an end to the master lease. The portfolio encompasses 32 skilled nursing facilities with 4,550 beds, and three independent living communities with 250 units. The assets sit across Alabama,... Read More »
Seniors Housing Communities Sell in Southwest Florida
Berkadia has announced a couple of closings in southwest Florida. First, Brooks Minford headed to the Tampa, Florida area to sell a 138-unit assisted living/memory care community on behalf of a local developer that was looking to exit the seniors housing business. They had built Tessera of Brandon in 2017 to feature a mix of 98 assisted living and 40 memory care units. And it was operated by a third-party operator under a net lease, which was terminated upon the sale closing. An Orlando-based owner/operator emerged from an active bidding environment to purchase the community, with plans to add value through census improvement and physical enhancements. Berkadia’s Ross Sanders, Dave... Read More »
Global Investment Firm Re-Enters the Senior Care Industry
Global alternative investment firm Investcorp has re-entered the seniors housing sphere after its exit in 2008. The company has acquired three communities in Massachusetts, California, and New York, all within a short period. The Massachusetts community is in Boston, and it offers both independent living and affordable seniors housing units. It appears to be The Woods at Merrimack in Methuen, which was built in 2018 and includes 102 market-rate units with a separate three-story building that encompasses 38 affordable units. The seller, Sunshine Retirement Living, developed the buildings and will continue to operate them. Investcorp purchased the asset in a joint venture with Capitol... Read More »
Investor Enters Seniors Housing Sector
Stone Brook Assisted Living in the Dallas, Texas MSA, has traded hands from a single-community owner/operator to a regionally-based investor. The seller was looking to enter retirement, and the investor wanted to make their first investment in the seniors housing space. Both seller and buyer agreed to pause the process in Fall 2025 to allow the seller to make some final adjustments, and after picking back up, the transaction moved quickly towards closing. The process was handled by Daniel Morris of Plains Commercial Real Estate. The physical plant sits in Denison, Texas, and presents well. It totals 44 assisted living units with 60 beds. Read More »
Public Company Divests in Arizona
A publicly traded company focused on seniors housing recently divested a community in Mesa, Arizona. The asset features 68 assisted living and memory care units, and offered meaningful upside potential. Amy Sitzman, Kyle Hallion and Jake Rice of Blueprint handled the deal, which saw a competitive process with multiple offers from groups looking to expand in the East Valley. The public company ultimately selected a buyer with an established footprint in the market. Read More »
California SNFs Secure HUD Financing
Just a year after funding the acquisition and refinance of two skilled nursing facilities in California, Greystone returned to take the facilities to HUD. Totaling 219 beds, the facilities are located in Menlo Park and Los Banos. Kalesta Healthcare Group acquired them in 2025 and 2021, respectively, and sought a combined refinance in 2025. Grant Goodman of G Capital served as Kalesta’s capital advisor and brought the opportunity to Greystone as part of a competitive debt market process. In March 2025, Greystone provided a $40.5 million bridge loan with an interest-only term, no recourse and a 24-month term with two six-month extension options. The facilities had recently stabilized,... Read More »
Owner/Operator Grows Its Seniors Housing Portfolio
1019 Senior Living acquired its second seniors housing community in Ohio, bringing its growing portfolio to six assets. The seller of The Cottages of Clayton was a Tennessee-based skilled nursing provider. Located in Dayton on seven acres, the community consists of six assisted living cottages with 15 units each, totaling 90 beds, and is Medicaid waiver approved. The physical plant presents well, originally built in 2000 with renovations completed in 2024 and 2025. 1019 Senior Living plans to implement light refreshes across the individual cottages. At the time of the sale, the community was 97% occupied, supported by a strong local reputation and steady referral sources, and was... Read More »
60 Seconds with Swett: Sticks and Bricks in ’26?
The talk around new development is getting a lot more serious in the seniors housing industry, leading us to wonder if our 2024 prediction of “Sticks and Bricks in ‘26” may actually come true, somewhat. Back then, we may have thought that interest rates would have come down a bit more by now, but that the FOMO of getting involved in seniors housing combined with rising prices in the M&A market would kick off a new building boom. We doubt there will be any “boom” in 2026, but the signs are there for increased activity. A couple of architects we spoke to at NIC said they were busier than ever, even if most builders are not putting as many shovels in dirt as they would like. The main... Read More »
Wyoming SNF Sale Sets New State Record
There was a new record set for skilled nursing pricing in the state of Wyoming with the sale of Big Horn Rehabilitation and Care Center in Sheridan. Built in the 1960s, the facility features 128 beds and was 61% occupied. It was owned by a regional operator that was looking to recycle capital. Before the marketing process, Evans Senior Investments was able to identify over $250,000 in potential annual savings on rehabilitation expenses and $87,000 in pharmacy savings. And the firm drove a competitive bidding process that successfully secured a record price of $20 million, or $156,250 per bed, based on the facility’s future stabilized potential rather than its current performance. The deal... Read More »Schedule a demo
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