Underperforming Skilled Nursing Facility Trades in Ohio
A 130-bed skilled nursing facility in Cincinnati, Ohio, sold to a regional owner/operator looking to expand its existing Ohio footprint. At the time of sale, the building was operating at a loss, but the buyer’s operational scale and market familiarity positioned the facility for a smooth transition and long-term repositioning. Blueprint represented the seller, which was seeking a speedy transaction due to the facility’s underperformance. So, Connor Doherty and Ryan Kelly of Blueprint targeted qualified regional operators with the ability to quickly assume operations and stabilize performance. The result was a transaction that moved from LOI execution to closing in just 64... Read More »Not-for-Profit Acquires from Not-for-Profit
A not-for-profit organization recently divested a cash-flowing CCRC in Cortland, Ohio. It was looking to recycle capital and reinvest in its broader mission, and ultimately engaged Blueprint to help with the sale. The community, Ohio Living Lake Vista, comprises 39 skilled nursing beds and close to 100 independent living and assisted living units. Operations were stable and there was consistent resident demand. Connor Doherty and Ryan Kelly represented the seller, Ohio Living, with the marketing process and sourced a mission-aligned not-for-profit buyer in Otterbein SeniorLife. Read More »NewPoint Originates Acquisition Financing
NewPoint Real Estate Capital originated $53 million in bridge financing to facilitate Cougar Capital Management’s acquisition of a large portfolio of independent living communities in upstate New York. The 24-month, non-recourse floating-rate loan provided by a debt fund was originated by NewPoint’s Cal Masterson and Kevin Laidlaw. These five communities total 701 units. They were built between 2000 and 2008 and comprise 15 acres in the Rochester MSA. Cougar Capital Management announced that it paid $51 million for the assets, or $72,800 per unit. Property management will be transferred to Willow Ridge Senior Living, which announced that it co-invested in the portfolio, which includes... Read More »Financing Secured for Skilled Nursing Portfolio
MONTICELLOAM, along with firm affiliates, provided $107 million in combined bridge and working capital financing to a four-facility skilled nursing portfolio in Florida. The transaction includes a $100 million bridge loan and a $7 million working capital line of credit. The loan proceeds will be used by the borrower, a returning MONTICELLOAM client, to pay off the existing debt on the portfolio, which comprises 480 beds. Read More »Not-for-Profit Creates Chief Growth Officer Position
The Kendal Corporation, a not-for-profit organization that supports a system of communities and services for seniors, created a new Chief Growth Officer position and then formed a cross-functional Growth Team. Max Ault has been promoted to serve as the inaugural CGO, a role designed to consolidate strategic efforts in Affiliate development, greenfield expansion, and emerging signature programs and services across The Kendal System. This change marks a shift toward more proactive growth planning. The newly formed Growth Team will integrate capabilities from development, marketing, finance and operations. This multi-disciplinary team is charged with building expanded growth... Read More »CCRC Secures Funding for Capital Improvements
Ziegler successfully closed the $47.9 million Series 2025 bonds for Bishop Gadsden Episcopal Retirement Community. Ziegler has had a relationship with Bishop Gadsden for more than 20 years. Bishop Gadsden owns and operates a not-for-profit CCRC on James Island in Charleston, South Carolina. Founded in 1850, Bishop Gadsden provided housing for seniors on the peninsula of Charleston but moved to its current location in 1987 on land donated by St. James Episcopal Church. Over the years, the community has grown to include a campus of 125 acres consisting of 283 independent living units, 79 assisted living units, 32 memory care units and 100 skilled nursing beds (32 of which are... Read More »Regional Owner/Operator Secures Acquisition Financing
Andrew Lanzaro of Berkadia Seniors Housing & Healthcare arranged a $24.75 million bridge financing for the acquisition of a 140 unit seniors housing community in Ocean Springs, Mississippi, on behalf of a Memphis-based repeat client. The purchase represented the buyer’s 10th community in Mississippi and was funded with 1031 exchange equity. The bridge loan was sized to 75% of the purchase price and features a 24-month, interest-only term with one six-month extension option. Berkadia intends to refinance the community with a HUD 232/223(f) loan. The regional owner/operator buyer paid $33 million, or $235,700 per unit, for the community. Built in phases from 2019 to... Read More »
CCRC Lands Construction Financing
Ziegler announced the closing of The Moorings of Arlington Heights’ $162.86 million Series 2025 bonds issued through the Illinois Finance Authority. The Moorings of Arlington Heights (The Moorings) is a CCRC situated on a 45-acre campus in Arlington Heights, Illinois. The community consists of 264 independent living apartments and villas, 73 assisted living apartments, 20 memory care assisted living apartments, 57 skilled nursing and rehab beds, and 39 intermediate and skilled memory care suites. The Moorings is an affiliate of Presbyterian Living, an Illinois not-for-profit organization based in Skokie, Illinois. Presbyterian Living’s portfolio features four communities and... Read More »
Bain Capital and Capitol Seniors Housing Refinance Near Manhattan
JLL Capital Markets announced that it arranged a $48 million refinancing for two Class-A seniors housing communities in New York and New Jersey. JLL’s Seniors Housing Debt Advisory team worked on behalf of the borrower, Bain Capital Real Estate and Capitol Seniors Housing, to place the three-year, floating-rate loan with a large regional bank. The Chelsea at New City was built in 2021 and consists of 80 assisted living, memory care and respite care units. On-site amenities include restaurant-inspired meals, beauty/barber salon, sports lounge, health and wellness programs, daily activities calendar, computer lab, movie theater, transportation services and more. The... Read More »
Ohio SNF Portfolio Sells to Joint Venture
A four-facility skilled nursing portfolio traded hands in eastern Ohio. At the time of sale, the portfolio was cash-flowing, with stable operations and consistent resident demand across the communities. The seller was a long-time owner/operator divesting to execute a planned exit from the business. They prioritized a smooth transaction with certainty of closing and continuity of care. Blueprint was engaged, with Connor Doherty and Ryan Kelly executing a targeted marketing process focused on experienced regional operators with an established operational platform in Ohio. The selected buyer was a joint venture between an East Coast capital group and a proven regional owner/operator.... Read More »Schedule a demo
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