Strawberry Fields Acquiring 9 SNFs
Strawberry Fields REIT entered into a purchase and sale agreement with an unaffiliated seller to acquire nine skilled nursing facilities. The facilities comprise 686 beds and will be purchased for $59 million (including certain consulting fees), $86,000 per bed, payable at closing. The company intends to utilize its current working capital and funds provided by a third-party lender to make payment for the purchase. Closing is anticipated to occur on or before July 1. Eight of the facilities will be leased to the Tide Group and added to the master lease Strawberry Fields entered into in August 2024. The master lease will remain materially unchanged other than resetting the lease... Read More »
Institutional Group Acquires in Wisconsin and Assumes HUD Debt
Evans Senior Investments facilitated the sale of two skilled nursing facilities in Milwaukee, Wisconsin. The seller was a local group of individual owners with long-standing ties to the facilities. Seeking an exit from the skilled nursing sector, they engaged ESI to identify a qualified operator capable of assuming the HUD-insured mortgages and navigating the approval process in Wisconsin. The facilities, which feature 172 beds and were operating at breakeven at the time of sale, garnered interest from both regional and national buyers. The ultimate buyer, an established institutional group with a growing footprint in the Midwest, saw the transaction as an opportunity to expand its... Read More »
SLIB Handles Missouri Sale to Willow Ridge
Willow Ridge Senior Living acquired another seniors housing community, adding Garden Plaza to its growing portfolio. Built in 2011, the community features 102 assisted living/memory care units and 12 independent living patio homes in Florissant, Missouri. It will be rebranded as Fields of Florissant. Willow Ridge made the acquisition in partnership with a growing private equity group. Jeff Binder and Dave Balow of Senior Living Investment Brokerage represented the seller, a regional owner/developer of senior care properties that was exiting to focus on other real estate holdings. The purchase price was not disclosed. In recent months, Willow Ridge has also added Village at Maiden... Read More »
CBRE Closes SNF Loan in Utah
Jason Stein and DJ Elefant of CBRE’s Debt & Structured Finance platform closed an acquisition loan for a skilled nursing facility in Utah. CBRE worked with a local Utah lender to arrange a $6.426 million loan that featured a 10-year term and a competitive 5.72% interest rate with no prepayment penalty. The loan came out to 75% LTC. Read More »
Knapp-Stahler Group Executes Speedy Sale
With a state-imposed operator transition deadline approaching, a regional owner successfully sold its 83-unit assisted living/memory care community in Chico, California, to another regional owner/operator with the help of Chad Mundy and Nick Stahler of The Knapp-Stahler Group at Marcus & Millichap. Built in 2001, Windchime of Chico features 120 licensed beds of assisted living and memory care with lakefront views, multiple common areas and a central courtyard. It was operated by a third-party manager. However, it was not performing well, with occupancy below 60% and a substantial operating loss, in addition to the imminent operator transition. There was also HUD debt secured by the... Read More »
Blueprint Closes Nine-Figure Deal in Oregon
A couple of seniors housing communities in the Portland, Oregon MSA, sold to a joint venture between a blue-chip national private equity investor and a respected West Coast-based owner/operator. Opened in 2016 and 2019, the two communities total 284 independent living, assisted living and memory care communities in highly affluent, high-barrier-to-entry submarkets. A joint venture between a multigenerational, regionally focused developer and local investors decided to sell the assets. These appear to be a couple of the high-end “Ackerly” assets, a 147-unit community in Portland and a 137-unit property in Sherwood. Earlier this month, Merrill Gardens announced that it was taking over the... Read More »The Springs At Pacific Regent La Jolla Featured in LevinPro Deal Database
The Springs At Pacific Regent La Jolla 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 3884 Nobel Dr in San Diego, California. It was incorporated on March 8, 2011. 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 The Springs At Pacific Regent La Jolla 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... Read More »
Blueprint Closes Two Seniors Transactions in Ohio
Blueprint recently handled two transactions in Ohio. First, Conner Doherty and Ryan Kelly facilitated the sale of a seniors housing community in a desirable market in Ohio. The not-for-profit seller was The Heritage Retirement Community. Built in 2000, The Belvedere of Westlake comprises 24 assisted living and nine memory care units in Westlake. At the time of marketing, the community demonstrated strong occupancy and consistent cash flow. The quality of the land and physical plant also offered investors a base for operational and long-term value creation. Blueprint targeted buyers aligned with the community’s mission and care standards, and a not-for-profit owner/operator with an... Read More »
Invesque Shareholders to Vote on Two Proposals
Invesque has called a special shareholder meeting for June 18, 2025, where shareholders will vote on two proposals. First, they will consider enabling Invesque’s board to sell or lease substantially all of the company’s assets through one or more transactions. That could include direct asset sales, the sale of subsidiary equity, mergers, or other business combinations, but the board would have maximum flexibility for any direction, if market conditions are favorable. The board has not yet signed any definitive agreements, but the company has already been selling many of its assets. In October 2024, it announced plans to divest its entire Commonwealth Senior Living-managed portfolio,... Read More »
Dwight Mortgage Trust Finances Bridge Loan
Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, financed a $20 million bridge loan for Bria of Palos Hills, a 207-bed skilled nursing facility in Palos Hills, Illinois (Chicago MSA). Originally built in 1980, the facility received a major renovation and expansion in 2016 with the addition of a two-story wing connected to the original single-story structure. The original building primarily serves long-term care residents, while the newer extension is designed for short-term rehabilitation and post-acute care. Then in September 2023, one of the wings was converted into a specialized dialysis and ventilation unit, further enhancing the facility’s ability to provide high-acuity... Read More »Schedule a demo
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