Second Generation Operator Divests SNF Portfolio to PE Firm
A Northeast-based private equity firm engaged Daniel Morris of Plains Commercial Real Estate in its plan to enter a new state. The firm has an existing skilled nursing footprint, and had specific acquisition criteria, which narrowed the focus down to a few potential targets. The company ultimately acquired a five-facility, 506-bed skilled nursing portfolio in Oklahoma. It was owned by a second generation skilled nursing operator that had been planning a retirement over the next couple of years. After a couple of initial discussions, the parties came to an agreement with a price that met the seller’s exit requirements, resulting in the sale. Read More »
CIBC Springs Ahead with Deal Flow
CIBC has been hard at work this Spring, successfully closing several acquisition financings for senior care clients across the country. The largest was a $51.5 million term loan that supported the purchase of four skilled nursing facilities in Illinois totaling 586 beds. Historical performance trended positively over the last two years across the portfolio, and going forward, occupancy is expected to be in the high-70% range, with continued improvement in operating margins. The borrower received the term loan plus a $2.5 million capital expenditure non-revolving line of credit and an $8 million working capital revolving line of credit. Dan Forrer handled the transaction for CIBC Bank USA.... Read More »
National Healthcare Properties Kicks Off IPO Push
National Healthcare Properties, Inc. launched its public offering of 38.5 million shares of its Class A common stock pursuant to a registration statement on Form S-11 filed with the SEC. The initial public offering price is expected to be between $13.00 and $16.00 per share, and the company expects to grant the underwriters a 30-day option to purchase up to an additional 5.775 million shares to cover overallotments, if any. It applied to list its Class A common stock on Nasdaq under the ticker “NHP.” National Healthcare Properties intends to use the net proceeds received from the offering to repay approximately $186.0 million of outstanding indebtedness under its revolving credit facility,... Read More »
60 Seconds with Swett: Institutional M&A Strategies
With the lack of new development and the alluring demographic opportunity in seniors housing, it has felt like a race among many institutional investors to grow their portfolios in the M&A market. Bidding environments have grown intense for high-quality assets, driving prices up, cap rates down, and the losing bidders more and more frustrated, and thus willing to go off market with high offers. The REITs have all been trying to catch up to Welltower, and have been very competitive in the bidding process. Major funds and investment firms that bowed as buyers after the pandemic and the capital markets crisis have largely returned to the space, and new entrants are increasingly knocking... Read More »
Regional Owner/Operator Enters New State
A regional owner/operator looking to enter the state of Indiana acquired Smith Farms Manor, an independent living community in Auburn, about 30 miles south of the Michigan border. Built in 1998, the community features 51 units and is well maintained. It sits on an attractive four-acre campus down the street from Parkview DeKalb Hospital and off of Interstate 69. However, there is room for improvement, as occupancy was 53% and the community was losing money on around $1.9 million of revenues. Its Missouri-based regional owner/operator had acquired the asset as part of a portfolio purchase and was divesting due to it not being a good long-term fit for the company. Jeff Binder, Ryan Saul,... Read More »
Skilled Nursing Portfolio Gets New Operator
Evans Senior Investments secured a new lease for a skilled nursing portfolio in Tennessee on behalf of an institutional owner. The portfolio features four assets and was operating below 70% occupancy with margins under 10%. Despite that performance, ESI secured a lease $3 million above in-place cash flow, reflecting the operational upside that was unrealized by the prior operator. The new operating tenant is entering the state through the transaction. Read More »
Seniors Housing and Care M&A Remains Elevated in Q1:26
The number of publicly announced seniors housing and care acquisitions in the first quarter of 2026 reached 231 deals, based on new acquisition data from LevinPro LTC. This represents a 19.8% decrease from the 288 transactions disclosed in the fourth quarter of 2025, but a 25.5% increase from the 184 deals in Q1:25. “It was always going to be difficult to top Q4:25, which set records for the highest number of publicly announced transactions in both a single quarter and a month, as well as price volume in a single day,” stated Ben Swett, Managing Editor of The SeniorCare Investor. “However, investor sentiment remains strong, operations are... Read More »
Clarion Acquires Again in Colorado
Two years after opening a 160-unit seniors housing community in Centennial, Colorado (Denver MSA), MorningStar Senior Living announced an expanding relationship with Clarion Partners, a leading real estate investment company and specialty investment manager of Franklin Templeton, in its acquisition of MorningStar at Holly Park. The community features independent living, assisted living and memory care services, and it reached 90% occupancy just nine months after opening. Today, it is fully occupied with an extensive waiting list. The transaction advances Clarion Partners’ strategy of investing in high-end seniors housing communities alongside high quality operating partners. MorningStar... Read More »
Brookdale’s Summer Test Ahead
Brookdale Senior Living reported its March occupancy results, and it unfortunately took another step in the wrong direction. We will get a better read when peers report first-quarter results and when NIC MAP releases its next tranche of occupancy data, but at this point, it seems as though Brookdale will need a particularly strong performance during the peak leasing months to show any real momentum, or even hold steady, in 2026. Same-community weighted average occupancy has now declined each month since October, falling 120 basis points over that stretch. Same-community month-end occupancy did not come in much better, down 100 basis points over the same time period. Brookdale pointed... Read More »
Public REIT Acquires New England Seniors Housing Portfolio
Blueprint announced that it handled the sale of a three-community private pay seniors housing portfolio in Rhode Island. A Dallas-based private equity firm engaged Blueprint in 2025 to sell the portfolio, which it acquired with Capital Health Group in 2019. The assets comprise 367 independent living, assisted living and memory care units in the Providence, Rhode Island MSA. The East Providence, Johnston and East Greenwich communities included a highly stabilized, cash-flowing AL/MC community, a large IL/AL/MC community with stable cash flow but meaningful occupancy upside, and a value-add turnaround community. After they were acquired in 2019, ownership brought it a new manager,... Read More »Schedule a demo
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