![Flashback Friday: The SNF Market, 10 Years Ago](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2020/09/bigstock-136960121-1080x675.jpg)
Flashback Friday: The SNF Market, 10 Years Ago
Every now and then, we like to look back at what the senior care industry was dealing with in past decades, which helps give us perspective on the problems of today and shows us lessons that are never learned by some. Looking at the market for skilled nursing facilities 10 years ago, we see a lot of similarities, from the high investor interest amid threats of reimbursement cuts and staffing issues (sound familiar?) to allegations of inappropriate use of Medicaid and Medicare funds by providers. Check out this lead story from the June 2013 issue of The SeniorCare Investor, and you’ll almost wonder if you were reading the June 2023 issue. From “The Skilled Nursing Market Enigma” in... Read More »![Quality Senior Living Adding Another Blake Community](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2020/07/bigstock-A-Construction-Worker-Control-319152289-e1594756057120.jpg)
Quality Senior Living Adding Another Blake Community
A new, high-end seniors housing community is under construction in St. Johns, Florida, by Quality Senior Living, a major Southeast owner, operator and developer. The Blake at St. Johns will feature 70 assisted living and 48 memory care units, with an array of amenities. Construction began in March 2022, and pre-leasing is already underway before its scheduled opening in early 2024. QSL Management will operate the community, which is expected to cost $35 million, or just under $300,000 per unit. Designed by Arrive Architecture Group, the two-story, 115,000 square foot building is set around two landscaped interior courtyards and will include restaurant-style dining, a piano bar and lounge,... Read More »![KeyBank Closes Construction Financing for NY Property](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2021/05/finance-4858797_640.jpg)
KeyBank Closes Construction Financing for NY Property
KeyBank Community Development Lending and Investment (CDLI) provided a $9 million construction loan and $12 million in Low-Income Housing Tax Credit (LIHTC) equity for the construction of an affordable senior housing property in Morrisville, New York. Community View Apartments will consist of 61 units for individuals aged 55 and older and earning no more than 30%, 40%, 50% and 60% of the area median income (AMI). Of the 61 units, 20 will be covered by the Empire State Supportive Housing Initiative (ESSHI) and will target individuals who are at risk of homelessness, formerly homeless, enrolled in Medicaid, and have either a chronic condition, physical disability, or require assistance with... Read More »![60 Seconds with Swett: What Will the Boomers Want?](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2022/11/60-Seconds-Thumbnail-Ben-2-1080x675.jpeg)
60 Seconds with Swett: What Will the Boomers Want?
The baby boomers have been referenced as the reason for investors to enter the seniors housing market for more than a decade, even though we are still several years away from the front end of them aging into the vast majority of seniors housing communities. But there is no guarantee that boomers will move into seniors housing, especially if new tech can better solve for health care, activities of daily living, property maintenance and socialization in the home, not to mention economic factors that may prevent seniors from selling their homes or may impact their savings and investment accounts to render seniors housing services unaffordable to them. Beyond all that, what if the current... Read More »![Trustwell Living Adds 16 Properties to Portfolio](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2019/12/bigstock-Real-Estate-Or-Property-Invest-252581359-e1576008870375.jpg)
Trustwell Living Adds 16 Properties to Portfolio
In one fell swoop, Trustwell Living more than quadrupled its portfolio of managed seniors housing communities by assuming the operations of 16 communities across Ohio (11 communities), Illinois (3), and Florida (2). Prior to the move, the company, which was founded by former Capital Senior Living CEO Larry Cohen, operated five communities in Kansas (2), Illinois, Missouri and Tennessee. The 16 added communities total 762 units of assisted living and memory care, averaging 48 units at each property. The largest community is 113 units. While predominantly assisted living, there are also some memory care and independent living units. Judging by the communities’ small average size and... Read More »![CFG Funds SNF Portfolio Deal in Pennsylvania](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2021/05/money-2180338_640.jpg)
CFG Funds SNF Portfolio Deal in Pennsylvania
Capital Funding Group closed $34.7 million in bridge-to-HUD financing for the acquisition of three skilled nursing facilities in Pennsylvania that combine for 299 beds. Managing Director, Real Estate Finance Craig Casagrande and Vice President Andrew Jones originated the transaction for the borrower, which was a regional operator. The announcement follows the company’s recent closing of a $13.4 million HUD loan, which supported the refinancing of an existing bridge loan on a 144-bed skilled nursing facility in Vermont. The cash-out bridge loan had seasoned for two years before being brought to HUD. Read More »![The Rise of the Regional Operator](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2023/06/Screen-Shot-2023-06-23-at-4.55.38-PM.png)
The Rise of the Regional Operator
The SeniorCare Investor’s Managing Editor, Ben Swett, sat down with Roddy and Michael Radnia of Brighton Care Group to discuss the company’s growth from six beds to 600, the lessons learned along the way, and how not to lose that local touch when operating as a larger, expanding company. Read More »![Another AdventHealth SNF Sells](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2020/09/bigstock-Miami-Beach-in-Florida-with-lu-14752583-e1599595875273.jpg)
Another AdventHealth SNF Sells
As part of AdventHealth’s exit from the skilled nursing market, and concurrent with its divestment of seven skilled nursing facilities in Florida, the not-for-profit health system also transitioned from its 222-bed SNF in Apopka, Florida. It was owned by the Florida Conference of Seventh-day Adventists and operated by AdventHealth Care Centers, a subsidiary of AdventHealth. The facility was originally built in 1970 adjacent to the Florida Living Retirement Community, near the Forest Lake Seventh-day Adventist Church. However, the physical plant was extensively renovated in 2019 and 2020, and received a new 52-bed subacute trach and vent unit with 29 dedicated resident rooms. Blueprint... Read More »![Avanath Acquires Rivers Senior near Sacramento](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2022/03/portfolio-property-money-house.jpeg)
Avanath Acquires Rivers Senior near Sacramento
Avanath Capital Management LLC, a multifamily owner and operator that primarily focuses on affordable and workforce housing, acquired Rivers Senior, a 120-unit affordable seniors housing community in West Sacramento, California, for $19 million, or $158,300 per unit. The deal marks Avanath’s 19th acquisition in Northern California and its 13th property in the greater Sacramento area. Avanath acquired the community in an off-market transaction with the seller, with whom Avanath had previously purchased numerous Sacramento-area assets. Rivers Senior was built in 2008 utilizing the California Tax Credit Allocation Committee’s LIHTC and with bond financing via multiple agencies. Additionally,... Read More »![Stabilized Seniors Housing Deal Closes in San Antonio](https://seniorcare.levinassociates.com/wp-content/uploads/sites/2/2022/01/Welcome-to-texas.jpeg)