Regional Healthcare Operator Lands HUD Acquisition Financing
Helios Healthcare Advisors arranged acquisition financing for a 124-bed skilled nursing facility with a strong quality mix in Pasadena, Texas, on behalf of a regional healthcare operator that had been leasing the property from a third-party landlord. The financing package was $12.9 million, or $104,000 per bed. Leveraging the facility’s strong occupancy and financial strength, Helios structured a direct HUD acquisition loan through a national HUD lender. The capital structure also included a seller note, allowing the borrower to close the transaction with minimal cash investment. Pillar Stone Healthcare Company, based in Houston, Texas, acquired Baywood Crossing Rehabilitation &... Read More »
In Memoriam: Doug Korey
We just heard the unfortunate news that our friend and colleague Doug Korey passed away last week. He had been battling cancer for a while but always put a brave face on his journey. We have known Doug since he got into the senior care industry more than 25 years ago. We served on panels with him and had many off-the-record conversations about some of the transactions he was working on. We even had to sub him on stage at the last minute at an NIC conference due to a scheduling mix up. It was our pleasure. We enjoyed his dry sense of humor, and we know that his friends and colleagues at LTC Properties will miss him dearly. Read More »
Ventas Acquires Class-A Portfolio in Texas and Louisiana
Ventas acquired five Class-A, high-performing seniors housing communities in Texas and Louisiana with upside potential. Built between 2015 and 2019, the communities comprise approximately 90 units each, with a total of 67 independent living, 201 assisted living and 179 memory care units in the Houston and Dallas, Texas, markets and the Lafayette and New Orleans, Louisiana, markets. JLL Capital Markets handled the transaction, representing the seller, a joint venture between Iron Point and Avanti Senior Living. The portfolio, which is entirely private-pay, was operated by Avanti. The purchase price was $147.7 million, or $330,000 per unit. Ventas expects Year 1 metrics to include a... Read More »
60 Seconds with Swett: An Update to Our Valuation Statistics
The deal dynamics of 2025 appear to have changed very little, with a majority of transactions featuring value-add properties, a slowly increasing share of stabilized, Class-A properties being sold, steady improvements to the capital markets and liquidity and cap rates that have moved only slightly downwards. Taking all of those factors into account, we would expect values, both apples to apples and on an average basis, to have risen in 2025, so far. We will be presenting our latest valuation statistics, derived from our proprietary LevinPro LTC data, in our August 28th webinar, titled A Mid-Year Valuation Stats Update, sponsored by HealthTrust. Plus, our three expert panelists will be... Read More »
PACS Group Gets Breathing Room After Defaults
PACS Group (which operates 314 communities across 17 states), Truist Bank, and PACS’ lenders entered into forbearance agreements on Wednesday, August 13. This is the fifth change to the agreements. Deficiencies in financial reporting across multiple periods resulted in defaults under its master lease with Omega Healthcare Investors, which triggered related defaults under the company’s credit agreement. Truist and the lender group agreed to hold off on taking action over the defaults until October 31, 2025, with the option to extend that deadline to November 30 or longer if they choose. The landlords under the Omega Master Lease also agreed to pause enforcement during this same... Read More »
Joint Venture Acquires Class-A Arizona IL/AL Community
Principal Asset Management (Principal Financial Group’s investment management division) and IRA Capital announced the acquisition of American Groves, a Class-A seniors housing community in Gilbert, Arizona, for $44.5 million, or $500,000 per unit. The sale was facilitated by JLL Capital Markets on behalf of the seller, American Care Concepts and Reichmann International Realty Advisors, which developed the community in 2021. American Groves is a two-story, 89-unit community, offering independent and assisted living services. Each unit has the ability to transition between independent and assisted living in response to changing resident needs, enabling the community to adapt to future... Read More »
Integrated Senior Foundation Purchases Seniors Housing Portfolio
JLL Securities and JLL Capital Markets arranged $79.32 million in tax-exempt, floating-rate bank financing for Integrated Senior Foundation’s acquisition of three well-performing seniors housing communities in Oregon (2) and Montana. JLL secured a low spread bridge loan, financing the acquisition at 103% loan to cost. The JLL Securities team was led by Greg Fawcett as placement agent, and the JLL Capital Markets Seniors Housing team was led by Senior Director Alanna Ellis and Associates Alex Sheaffer and Erik Cassella. The three assets collectively comprise 155,058 square feet and feature 287 units, including 23 independent living, 190 assisted living and 74 memory care units. They... Read More »
A Missouri SNF Turnaround and a Tennessee AL Conversion
Andrew Montgomery and Jeremy Warren of Montgomery Intermediary Group stayed active throughout the summer, beginning with a couple of closings in the Midwest. In addition to those closings, the team facilitated the sale of a skilled nursing facility in a smaller Central Missouri market. Built in 1967, the facility features more than 90 beds and was between 35% and 40% occupied at the time of sale. The seller was a local Missouri owner, and the buyer was a repeat MIG client. The turnaround asset is in a rural area, and while the purchase price was not disclosed, it was said to be in line with similar deals that MIG has closed in comparable Missouri markets. Montgomery and Warren also handled... Read More »
Blueprint Handles Ohio Sale
Connor Doherty and Ryan Kelly of Blueprint facilitated the sale of a skilled nursing facility in Ohio on behalf of a group of investors from around the area looking to exit the business. The asset featured a phased physical plant with modernized components and was operating at strong occupancy levels at the time of marketing. The facility benefited from stable operations, a solid patient mix, and established referral relationships. Blueprint targeted buyers aligned with the facility’s operational consistency and long-term positioning in the market. There was interest from multiple regional and national operators seeking to expand their footprint and add scale within the state, resulting in... Read More »Elderwood at North Creek Involved in M&A Activity in LevinPro Database
Elderwood at North Creek 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 112 Ski Bowl Rd in North Creek, New York. It was incorporated on April 6, 2017. 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 Elderwood at North Creek 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... Read More »Schedule a demo
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