Embassy of Hearthside Linked to Merger or Acquisition in LevinPro Database
Embassy of Hearthside has been linked to a merger or acquisition in the LevinPro M&A deal database. The Medicare-licensed facility is a private skilled nursing facility situated at 450 Waupelani Drive in State College, Pennsylvania. It was incorporated on August 6, 2020. 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 Embassy of Hearthside in its deal database, which is available to subscribers here. LevinPro has tracked thousands of deals in the skilled nursing facility sector throughout its history. To see the underlying deal data, or for... Read More »
60 Seconds with Swett: M&A Activity Tops 350 Deals in H1:25
In the second quarter of 2025, there were 176 publicly announced transactions, a preliminary number that is almost certain to increase in the weeks ahead. That brings our total for the first half of the year to 355 deals, or 710 on an annualized basis. Considering we finished 2024 with 716 total deals, which was a record by far, we are in a good place for deal activity. After a slow May with 47 deals, we wondered if we would even have a chance of breaking 700 transactions for the year. But June bounced back with 64 deals, including some large portfolio deals. Looking at the second quarter, however, trouble may be brewing. Breaking out U.S. M&A activity, 2024 finished with 593 deals in... Read More »
Bloom Exits South Carolina’s Seniors Housing Market
Kandu Capital, LLC, and its operating company, Bloom Senior Living, collectively known as Bloom, sold its final seniors housing community in South Carolina. The company is seeking realignment as it exits the state after a decade-long presence in the region. The 129-unit independent living and memory care community, which is in Bluffton, sold for $13.5 million on an initial investment of approximately $3 million. Occupancy was around 63% at the time of acquisition, but performance improved between LOI and closing, with monthly revenues increasing from between $250,000 and $260,000 to over $300,000 (or over $3.6 million annualized). NOI also trended up, from roughly breakeven to around... Read More »
Improving Ohio SNF Sees Strong Price
Ryan Saul of Senior Living Investment Brokerage secured a strong price for a skilled nursing facility in Cincinnati, Ohio. Built in 1965, the facility was originally licensed for 199 beds, but the decision was made to strategically reduce the beds to 167 to save on provider tax and improve the Medicaid rate. The facility struggled for many years. It was purchased by a Chicago-based investor in 2014 that has subsequently gone bankrupt. The lender took the property back in 2018 due to poor operational management and financial performance, and it ran the facility through receivership, employing a number of managers between 2018 and 2023. The most recent operator was finally able to... Read More »
Stacked Stone Ventures Makes Major SNF Acquisition
Stacked Stone Ventures, a real estate investment firm founded by Kent Eikanas, has made a major acquisition in the skilled nursing sector, acquiring nine skilled nursing facilities for approximately $33 million, or $66,000 per bed, at a 13% cap rate. Stacked Stone bought the portfolio in a joint venture with Praxis Capital from a large institutional skilled nursing owner. Located in Iowa, the nine facilities feature a combined 500 beds, with some assisted living units. They were around 80% occupied and operated at a healthy margin. Accura HealthCare will continue to operate the portfolio under a NNN lease. The transaction was financed with Oxford Finance. Read More »
Tremper Capital Group Announces Two Refinances
Tremper Capital Group announced a couple of refinances at the end of the second quarter for seniors housing clients. The first was arranged on behalf of Kisco Senior Living for its 333-unit entrance-fee CCRC in Palm Beach Gardens, Florida. Built in 2004, the campus was acquired by Kisco as part of a larger CCRC deal in 2013, and since then it expanded with a 54-unit independent living building in 2018. It was well occupied, around 94%, and operated at a healthy margin. The campus was also looking to add more rental contracts for its units, which should help improve its profitability. TCG arranged a $45 million loan from BMO to refinance the property, growing the relationship between... Read More »
CBRE Arranges Fannie Mae Refinance
CBRE National Senior Housing arranged a Fannie Mae loan assumption of a portfolio of seniors housing communities on behalf of an institutional client, taking out an original CBRE-originated loan in the process. The portfolio features five assets that feature 435 independent living and assisted living units and are spread across Oregon and Washington. Through CBRE’s Fannie Mae DUS Lending Platform, Aron Will and Adam Mincberg facilitated the $64.6 million assumption of a loan that CBRE originated in 2017. Read More »
CIBC Finances Boston-Area SNF
CIBC Bank USA closed a new $13 million commercial mortgage term loan for a 120+ bed skilled nursing facility near Boston, Massachusetts. The facility is owned and operated by a high-quality, national skilled nursing operator. With an effective age of 20 years, the skilled nursing facility currently posts strong operating results with occupancy averaging 89% and EBITDAR margins of 20%. The financing was handled by Matthew Tyler and Neal Netzel with CIBC Bank USA. Read More »
Berkadia Secures Large Portfolio Refinance
Berkadia closed $627.2 million in agency financing for Project Raven. Project Raven is a 35-asset seniors housing portfolio with 4,395 independent living, assisted living and memory care units. The portfolio spans 15 states. Austin Sacco, Steve Muth, Garrett Sacco and Alec Rosenfeld handled the financing on behalf of an institutional borrower. The transaction was a roughly five-month process and refinanced existing debt. It represents one of the largest seniors housing refinances in recent years. Read More »
What Does Brookdale’s Proxy Fight Cost?
It seems that hardly a day goes by without yet another SEC filing by Brookdale Senior Living detailing why its slate of Board candidates is far better for shareholders than the slate submitted by activist investor Ortelius Advisors. But how much are they spending on this? It would be nice to know, and we are sure shareholders would rather have the money spent on operations or debt repayment. It has now come down to two Board seats, and Brookdale’s management has been touting both Lee Wielansky and Victoria Freed’s qualifications. Here’s the problem we have. Wielansky has been on the Brookdale Board since 2015, where shareholders witnessed one of the largest losses in shareholder value ever... Read More »Schedule a demo
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