Ignite Medical Resort Crown Point LLC Profiled in M&A Activity in LevinPro Database
Ignite Medical Resort Crown Point LLC 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 1555 S Main St in Crown Point, Indiana. 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 Ignite Medical Resort Crown Point LLC 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 information on... Read More »
60 Seconds with Steve Monroe: The Future of Seniors Housing
Five years ago, at the onset of the COVID pandemic, I wrote a long white paper on the future of seniors housing based on what was happening in the Spring of 2020. The future was questionable. Now, five years later, it seems as if nothing has changed, and everything has changed. I had to miss my first Fall NIC in 35 years, but I heard there was a lot of talk about the future and what may happen, and that the “feel” today was much like the post-recession years of 2013 to 2017. Everything looking up, values rising, investors jumping in, sentiment at a recent peak, lenders very competitive, and so on. The only thing missing today compared with back then is the lack of new development. So,... Read More »
Operationally-Challenged CCRC Transitions to Lease Option
Blueprint was engaged to market a 225-unit CCRC in St. Louis, Missouri, that was experiencing operational challenges. The seller, a large owner/operator, was looking to address immediate performance issues and position the asset for long-term stability and value. So, the deal was marketed either as an outright sale or a lease with a purchase option. Following a competitive process, the selected transaction structure was a lease with a purchase option. The incoming operator, a regional owner/operator, brings local market knowledge with an established footprint in Missouri as well as Illinois. Connor Doherty and Ryan Kelly handled the transaction. Read More »
Senior Care Portfolio Secures Bridge Loan
Capital Funding Group closed a $121.5 million bridge loan. The deal supports the refinancing of twelve skilled nursing and assisted living properties, with ten in Texas and two in Maryland, featuring a total of 1,625 beds. Tim Eberhardt, Craig Casagrande and Catherine Mansel originated the transaction, which closed in September. This follows CFG’s announcement that highlighted the closing of six deals for over $86 million in financing on behalf of nationally recognized borrowers. The deals supported financing for two memory care communities, four skilled nursing facilities and one psychiatric hospital throughout Missouri, California, Tennessee, Texas and Virginia. CFG closed the... Read More »
Class-A Arizona AL/MC Community Joins Welltower’s Portfolio
Welltower has acquired a 118-unit assisted living/memory care community in Marana, Arizona, northeast of Tucson. The Watermark at Continental Ranch was developed in 2019 by Kayne Anderson Real Estate and Watermark Senior Living. Watermark bought the land in 2017 for $1.34 million, and Kayne Anderson bought the community in 2019 upon receipt of the certificate of occupancy and licensure, according to the deal in LevinPro LTC. BMO Harris Bank financed that purchase with a $21 million credit facility. There are studio, one- and two-bedroom layouts, plus specialized memory care wings. Welltower has rebranded the community Cogir at Continental Ranch. Read More »
Bridge-to-HUD Loan Facilitates Grace Manor’s Financing Transition
Sims Mortgage Funding (SMF) took out a bridge-to-HUD financing for Grace Manor at North Park at the end of August. The bridge component was a unitranche loan originally issued in February 2020 by Lakeland Bank and an affiliate of SMF’s parent company, HJ Sims, which the borrower used to purchase a 52-bed assisted living and memory care community in Allison Park, Pennsylvania. The new $9.63 million HUD-insured loan has a 35-year amortization and represents 78.3% of the asset’s value, underwritten at a 1.46x debt service coverage ratio. The loan, insured under the Section 232/223(f) program, covered 100% of the cost of refinancing, including capital reserves, repairs, deferred interest, HUD... Read More »
Michigan AL Communities Trade with Turnaround Potential
Madison Meiser and Bill Meiser of Meiser Commercial Real Estate completed two separate seniors housing transactions in Michigan. All parties involved had experience in the senior care sector, making the transactions smooth, aside from routine negotiations. The first transaction to close was in Plymouth. Built in 1980, the assisted living community featured 50 units and was licensed for 75 beds. The buyer, an owner/operator, has opportunities to reduce expenses and enhance the property’s value. At the time of sale, occupancy was 84%, and the community was operating at a loss. For the trailing 12 months ending February 2025, the property generated $2.36 million in revenues. A hurdle... Read More »
Not-For-Profit SNF Owner Expands in Texas
A large not-for-profit owner of skilled nursing facilities in Texas added another facility to its portfolio in the Lone Star State. Set in the town of Georgetown just north of Austin, The Wesleyan was founded in 1962 in collaboration with The Methodist Church, but the current 40-acre campus was built in 2008 and expanded its offerings to include a 142-bed skilled nursing facility, 240 units of independent living, 24 IL cottages and 84 units of assisted living and memory care. The owner decided to sell the standalone skilled nursing facility to Wellsential Health, which owns more than 60 facilities in Texas. Regency Integrated Health Services operates all of Wellsential’s locations.... Read More »
Phorcys Capital Partners Acquires AL/MC Community Through Receivership Sale
Phorcys Capital Partners acquired Village Veranda at Lady Lake, a 125-unit assisted living/memory care community in Lady Lake, Florida, adjacent to The Villages. Opened in 2019, the community was developed by Gordon Cos., Village Veranda Lady Lake LLC and SRI Management, which has operated the community since the start. SRI will stay on as operator. The property was acquired through a receivership sale, with Phorcys as the stalking horse. The deal marks Phorcys’s fifth seniors housing investment. The company is an alternative asset manager focused on investing in distressed assets and municipal bonds with strategic investments across senior living, multifamily, student housing and... Read More »Harlem Center for Nursing and Rehabilitation Involved in M&A Deal in LevinPro Database
Harlem Center for Nursing and Rehabilitation has been linked to a merger or acquisition as reported in the LevinPro M&A deal database. Situated at 30 W 138th St in New York, New York, this Medicare-licensed private skilled nursing facility was incorporated on June 7, 2018. LevinPro, known for tracking mergers and acquisitions across more than a dozen healthcare sectors including hospitals, home health, medical real estate, and biopharma, has featured the transaction involving Harlem Center for Nursing and Rehabilitation in its deal database, available exclusively to subscribers here. With a history of tracking thousands of deals in the skilled nursing facility sector, LevinPro offers... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
