LTC Properties Divests More SNFs
LTC Properties has completed its effort to divest seven skilled nursing facilities after one of its top 10 operating partners decided it was not renewing its master lease for these facilities, instead choosing to downsize and exit some states. In early October, the REIT announced that it sold two of the skilled nursing facilities in Florida for $42 million, or $175,000 per bed, with expectations of a gain on the sale of approximately $26 million. The company more recently announced that it completed the sale of the other five facilities. The four Virginia SNFs sold for $51 million and the California asset sold for $29 million. LTC Properties expects a gain on this sale of... Read More »
PE Firm Divests to Cedarhurst Senior Living
Cedarhurst Senior Living announced that it acquired The Enclave of East Louisville, now known as Cedarhurst of East Louisville. The Class-A Kentucky community delivered strong occupancy and stable margins, and there is potential to increase the property’s NOI in the short term. Built in 2012, it features 56 assisted living and 24 memory care units on 5.9 acres. Kyle Hallion, Lauren Nagle and Brooks Blackmon of Blueprint handled the transaction, representing an institutional private equity seller that was a repeat client. There was a competitive marketing campaign that garnered multiple private capital bids, with a final round of tours that enabled the firm to drive pricing and secure... Read More »
Northeast Owner/Operator Expands in Pennsylvania
A personal care home in Pennsylvania was sold with the help of Jeff Binder, Bradley Clousing, Dan Geraghty, Dave Balow and Lucas Doll of Senior Living Investment Brokerage. It was built in 1998 and sits within the Pittsburgh metropolitan area. The seller was a national owner/operator that deemed the property to no longer fit in its long-term operational objectives. The identified buyer was a rapidly growing Northeast-based owner/operator looking to expand its presence in the Pittsburgh, Pennsylvania MSA. The private buyer’s existing portfolio comprises seniors housing communities in New Jersey and one community in the Pittsburgh area. The principals have held various roles in the... Read More »
Benchmark Senior Living Adds to Its Garden State Portfolio
In its joint venture with the vertically integrated real estate investment firm National Development, Benchmark Senior Living continues to grow through single-asset deals, adding another New Jersey property to its portfolio. Benchmark acquired Arbor Terrace Roseland, a 85-unit assisted living/memory care community in Roseland, New Jersey, about 15 miles west of Manhattan, New York. Synovus Bank provided acquisition financing for the deal. The community joins a growing Garden State portfolio for Benchmark, which is set to open Benchmark at Scotch Plains in partnership with National Development in 2026. Plus, Benchmark at Cedar Grove will open in 2027. Earlier this year, Benchmark and... Read More »
MidCap Financial and CBRE Originate Refinance
MidCap Financial closed a $17.5 million first mortgage loan. The floating rate loan refinanced the existing indebtedness on a stabilized Class-A seniors housing community in the Boise, Idaho, market. The property in Meridian is owned by experienced real estate company Gold Stream Retirement Communities, and it is managed by Grace Management, which has a national presence. The asset offers a full continuum of care with 100 units as well as a full suite of modern amenities. MidCap Financial originated the transaction with Aron Will and Tim Root of CBRE. Read More »
Lender Provides Refinance Through HUD’s Express Lane
Another HUD Express Lane transaction has closed, with Cambridge Realty Capital providing a $4.3 million HUD 223(f) loan to refinance Elizabeth Care Center, a 36-bed skilled nursing facility in Elizabeth, West Virginia. Cambridge was able to facilitate the loan and receive its firm commitment just 18 days after submission. The borrower was not disclosed, but in January 2025, Coplin Health Systems announced that it sold Elizabeth Care Center to the in-place operator, Providence Health Group. Providence had operated the facility for the previous four years. Read More »
REIT Acquires Two Class-A Assets
The team at Newmark handled the sale of two Class-A seniors housing assets in Arkansas and Texas. The Rogers community in Northwest Arkansas was built in 2023 with 221 total units, comprising 26 cottages, 109 independent living units, 56 assisted living units and 30 memory care units. The Burleson, Texas, community also opened in 2023 and features 234 units, including 34 cottages, 110 IL, 60 AL and 30 MC units. Occupancy was in the mid-80s at both locations, but the communities were not stabilized from a cash flow perspective, especially considering the share of IL units and cottages. The purchase price was not disclosed, but the buyer was a publicly traded REIT. Read More »
Blueprint Closes Inaugural North Dakota Deal
Ryan Kelly, Steve Thomes, Connor Doherty and Kory Buzin of Blueprint arranged the sale of a 75-bed skilled nursing facility in central North Dakota. At the time of marketing, the facility was generating positive cash flow despite operating at only 50% occupancy, highlighting a compelling opportunity for an incoming operator to drive census growth and significantly enhance profitability. Through a competitive marketing process, Blueprint attracted interest from both regional and national buyers. Ultimately, a strategic investor recognized the upside potential and acquired the facility, with plans to implement operational improvements aimed at boosting occupancy and unlocking long-term... Read More »
Regional Bank Provides Refinancing
Grace Hill Capital served as exclusive financial advisor and placement agent on a refinance for a seniors housing community in Fountain Inn, South Carolina. A regional operator/borrower received the $10.33 million five-year loan with a fixed rate and one year of interest only. It was structured as a delayed draw term facility at 70% loan-to-value, including a $2.2 million earnout supporting the community’s recent assisted living expansion. A regional bank provided the loan. Read More »
Walker & Dunlop Arranges Construction Funding
Walker & Dunlop, Inc. arranged $40.52 million in debt and equity for the construction of The Highlands, a 137-unit affordable development for seniors in Hyattsville, Maryland. PJ McDevitt, managing director of W&D Affordable Debt, arranged the debt, and Macy Kisilinsky, senior managing director of W&D Affordable Equity, arranged the debt placement and equity syndication for the project. The terms were arranged on behalf of Community Housing Initiative, Inc., which is partnering with First Baptist Church of Highland Park (FBCHP) to build the affordable seniors housing project. The Highlands will be financed with an unfunded forward Freddie Mac TEL, including a taxable tail,... Read More »Schedule a demo
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