Texas Capital Bank Provides Financing to Regional Operator
A California-based regional senior care operator with more than 20 facilities across the western United States recently obtained a revolving credit facility, arranged by Grant Goodman of G Capital. Proceeds from the $30 million facility will be used to support working capital requirements and continue the owner’s strategic expansion as new acquisition opportunities arise. It was structured as a non-recourse, accounts receivable-based facility that includes several borrower-friendly features atypical in the current credit environment, including no prepayment penalty, a 180-day borrowing base and advance rates inclusive of assisted living waiver Medicaid. Priced at a highly competitive... Read More »
Harbert Management Corporation Secures Financing for California Community
Live Oak Bank provided a $25 million bridge-to-sale loan to finance a seniors housing community near Los Angeles, California. Harbert Seniors Housing Fund I LP, which is managed by Harbert Management Corporation, is the borrower. The financing features a three-year initial term, 36 months of interest-only payments and $2.8 million in potential future earnout proceeds. The property totals 97 independent living, assisted living and memory care units. Read More »
Florida Portfolio Locks in Refinancing
MONTICELLOAM announced the financing of a senior bridge loan and working capital facility for three skilled nursing facilities in southern Florida, totaling $108.75 million. The sponsorship group, a repeat client of MONTICELLOAM, intends to use the $105.5 million floating-rate senior bridge loan to refinance the existing debt on the portfolio. The $3.25 million working capital facility will be used to cover the day-to-day operational needs of over 500 licensed beds across the three facilities. Read More »
60 Seconds with Steve Monroe: Brookdale Senior Living and SWAT
Brookdale Senior Living announced it had recently formed SWAT teams to deal with its lowest-occupancy buildings to try to get them over the 80% hump, and there are a lot of them. Since then, the term SWAT team has been appearing more and more with other providers. SWAT is a scary term, and stands for Special Weapons and Tactics, and in law enforcement is used to deal with barricaded persons, active shooting scenes and high-risk search warrants. Not exactly something we want to be associated with trying to get customers into senior living. But I understand the intent. The other frequently used term is the “silver tsunami” about to hit us. Again, a tsunami is extremely destructive,... Read More »
SLIB Sells High-Quality SNFs in Georgia
Daniel Geraghty and Bradley Clousing of Senior Living Investment Brokerage handled the sale of two large skilled nursing facilities in the Atlanta, Georgia MSA. Totaling 439 licensed beds, the facilities are set in prime suburban markets on valuable real estate. Additionally, there was limited competition in their markets. As a result, the 1970s-vintage facilities were operating at a strong profit margin and sold for well above $100,000 per operational bed. There is some room for improvement operationally, as well. A Northeast-based owner sold to another Northeast owner/operator with a large portfolio, largely throughout the Southeast. Read More »
Invesque Shifts Focus to Senior Care Sales
Invesque reported its first quarter earnings, highlighting a few M&A updates. Back in the first quarter of 2024, the company had announced it entered into purchase and sale agreements for three investment properties in New York, expecting to close on the sale transactions in the first six months of 2025. A sale involving one of the properties closed in April 2025 for $25.1 million. Sale proceeds in excess of closing costs were used to pay down the mortgage associated with the property ($18.2 million principal balance) and the residual (approximately $7.3 million) was retained by the company for working capital purposes. In the second quarter of 2024, Invesque executed purchase and sale... Read More »
Turnkey RCAC Sale Closes in Wisconsin
Chad Wegner of Senior Care Realty handled an RCAC sale in Northwest Wisconsin. The community is under two hours from the Minneapolis, Minnesota MSA, with strong occupancy and all private pay residents. It was “turnkey” and profitable at the time of sale. The deal, which closed in May at 104% of the asking price, was based on a 2024 cap rate of 12%. Traditions Assisted Living had been the owner/operator for over 15 years, and the buyer was a repeat client of Senior Care Realty that is expanding its portfolio in Wisconsin. Read More »
Mississippi Seniors Housing Portfolio Secures Refinancing
Steven Muth and Andrew Lanzaro of Berkadia recently completed the refinancing of a four-property seniors housing portfolio in Mississippi for a Southeast-based owner/operator, which is a first-time Berkadia client. Proceeds of the $14 million HUD loan paid off bank debt and partnership debt from a previous addition funded by the sponsor. The two properties were built in 1998 with additions in 2003 and 2013. All four loans have 35-year fully amortizing terms. Read More »Westminster Point Pleasant Bradenton: A Featured Deal in LevinPro M&A Database
Westminster Point Pleasant Bradenton has been linked to a merger or acquisition in the LevinPro M&A deal database. The Medicare-licensed facility is a not for profit skilled nursing facility situated at 1533 4th Ave W in Bradenton, Florida. 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 Westminster Point Pleasant Bradenton 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 »
Blueprint Closes Three Two-Property Deals
Blueprint has been active, announcing three separate deals involving six separate assets over the last few days. First, Jacob Gehl and Dillon Rudy facilitated the sale of two seniors housing communities in densely populated, urban submarkets on Chicago’s North and South Side. The seller was a nationally recognized institutional private equity firm, and the properties were managed by Senior Lifestyle. Built in 2006 and 2007, the communities total 252 independent living (majority), assisted living and affordable seniors units. Both communities were profitable but not stabilized at the time of sale, with one asset 90% occupied and the other 70%. Originally developed to accommodate both... Read More »Schedule a demo
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