Janus Living Goes Public After Upsizing IPO
Janus Living, a Healthpeak Properties-formed REIT and now the only publicly traded U.S. REIT fully dedicated to seniors housing with its entire portfolio structured under RIDEA, has launched its initial public offering of Class A-1 common stock. The company is now listed on the NYSE under the ticker “JAN.” It plans to pay a quarterly dividend of $0.1425 per share, or $0.57 annually, representing an approximate 3% yield. The night prior to the IPO, the company upsized the offering to 42 million shares, from 37 million, and priced the deal at the top of its $18 to $20 per share range. At pricing, Janus Living was expected to raise $840 million, up from its previous range of $666 million to... Read More »
Partnership Acquires Two Long Island Communities
Two Long Island assisted living communities were sold by their original developer/operator. Village Green Senior Living in Levittown (opened in 2020) and Village Walk Senior Living (opened in 2018) in Patchogue were acquired by a partnership between Fundamental Advisors, Scribner Capital and Atria Senior Living. They will be renamed Atria Levittown and Atria Patchogue, respectively. The newer vintage assets will complement Atria’s existing Long Island portfolio, and the operator expects to increase the occupancy and operating margins. With these additions, Atria now operates 18 communities across New York City and Long Island. Read More »
Artemis Real Estate Partners Purchases Class-A Community
The developer of a Class-A seniors housing community in the Minneapolis, Minnesota MSA, has passed the torch to a new owner. Pillars of Lakeville, now known as The Crest at Lakeville, sits on 1.8 acres. Oppidan Investment Co., a company that developed multiple Pillars senior living properties in Minnesota, acquired the land from Crossroads Church, and construction on the asset began in 2021. Opened in 2023, the community comprises 100 independent living, assisted living and memory care units and is connected to a childcare facility that is operating out of the Church. Ebenezer Management Services, Minnesota’s largest senior living operator, was managing the community. According to... Read More »
Stand-Alone Memory Care Community Gets New Owner
1031 CF Properties, a leading DST investor, acquired a stand-alone memory care community in the Spokane, Washington MSA. Built in 2005 with expansions in 2007 and 2013, Generations Memory Care offers 48 private units with 28,472 square feet on 2.067 acres. The seller was an investment group based in northern California that purchased the asset in 2017 for $8 million, or $166,700 per unit. Senior Services of America, an experienced regional operator with 15 properties in Washington, Oregon and Idaho, was operating the community. The Zett Group handled the sale, and while the asset saw some fluctuations in NOI, there are some realistic value-add opportunities. That upside potential was... Read More »
Not-for-Profit Closes First Public Bond Issue in 20+ Years
Ziegler announced the closing of a $30.0 million tax-exempt fixed rate bond issue for Butterfield Trail Village, Inc. (BTV). The Series 2026 bonds were issued through The Fayetteville Public Facilities Board. BTV is a not-for-profit corporation founded by five local churches in 1981 to own and operate a continuing care retirement community on 48-acres in Fayetteville, Arkansas. BTV currently consists of 280 independent living units, 12 assisted living units and 78 skilled nursing units. The proceeds of the Series 2026 bonds will be used, together with other available funds, to finance and refinance construction of a new assisted living community with 38 units, conversion of the existing... Read More »
State of the Healthcare M&A Market Webinar
LevinPro HC convened a panel of healthcare dealmaking experts to talk about M&A trends across the healthcare services spectrum, valuation metrics, private equity activity and regulatory headwinds. The conversation also covered our latest healthcare M&A statistics. Ben Swett, Managing Editor of LevinPro HC moderated the panel, which included John Tiedmann, Managing Director of Physician Growth Partners, Bill Hoffman, Shareholder of Polsinelli, and Matt Bogle, Managing Director of Intrinsic. Read More »
Buyer Adds Fourth Community in Under 12 Months
Unbridled Living completed its fourth acquisition in less than 12 months, adding a second seniors housing community to its Missouri footprint. Built in 2001 and most recently renovated in 2025, The Emerson at St. Peters is an independent living community with 182 units, 20 of which can flex to assisted living. It has been rebranded as Unbridled Living of St. Peters. The community’s physical plant presents well, as the seller invested approximately $10 million into the property over the past five years, primarily focused on common area improvements. At the time of the purchase, the building was 82% occupied, leaving room for operational upside. Margins were already strong, around 34.3% at... Read More »
New 1031 Exchange Platform Launches
A new 1031 exchange platform designed to provide advisors and their clients with access to institutional-quality real estate investments through Delaware Statutory Trusts has launched. A Fortress Investment Group affiliate, Fortress Real Estate Exchange, will initially target investments in seniors housing, student housing and multifamily properties. The platform’s goal is to help real estate owners with investment planning objectives, including the deferral of capital gains taxes, diversification of investment strategies and/or real estate exposure, and transition them away from active real property management. The platform also aims to deliver both stable cash flows and the... Read More »
Regional Operator Acquires Large Multi-State Portfolio
Senior Living Investment Brokerage announced a couple of portfolio deals this week totaling 15 separate properties. The larger deal featured 13 assisted living/memory care communities spread out in Georgia and South Carolina. Built between 1989 and 2014, the buildings have a combined 672 units, with 492 assisted living and 180 devoted to memory care. Brad Clousing, Dan Geraghty and Jeff Binder represented an undisclosed institutional owner in the transaction, creating a national market for the assets and generating significant buyer interest with more than 15 qualified offers. A Southeast-based regional operator emerged as the buyer, with a plan to reposition and stabilize the... Read More »
Oregon and Idaho Communities Sell
Blake Bozett and Spud Batt of The Zett Group sold a 48-unit independent living community in Pendleton, Oregon, on behalf of a local owner/operator who was exiting the business. Built in the 1970s, the community was well occupied but could improve its overall operations. Still, there was positive momentum in the NOI, which rose from $320,000 in the trailing-12 months to $470,000 in the trailing-three months annualized. The property was on the market for only three days, and the deal closed 106 days after LOI execution. A regional independent living owner/operator stepped in to purchase the asset for $5.35 million, or $111,500 per unit, at an 8.8% cap rate based on the trailing-three... Read More »Schedule a demo
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