• October Kicks Off with Multiple Financings

    VIUM Capital announced a slew of closings at the start of October, ranging from HUD refinances to acquisition loans. The largest was a $72 million bride loan that refinanced four skilled nursing facilities in Pennsylvania totaling 525 beds. Proceeds will be used to take out senior debt and senior mezzanine debt. The facility will be structured as... Read More »
  • Newmark Negotiates Several Large Financings

    Sarah Anderson of Newmark has closed some notable financing transactions in the last couple of months, in addition to arranging acquisition financing for numerous deals handled by the Newmark investment sales team. One of the closings was for Vivante at Turtle Creek, a to-be-built seniors housing community on the prestigious Turtle Creek... Read More »
  • Funding Arranged for Skilled Nursing Clients

    MONTICELLOAM, LLC, a specialized multifamily and seniors housing bridge lending platform, announced a couple of financings for skilled nursing clients in New England and North Carolina. First, for eight skilled nursing facilities in Massachusetts and Rhode Island, the firm closed a $70 million senior bridge loan with a 24-month initial term. It... Read More »
  • Newly Constructed Community Secures Financing

    BWE arranged refinancing for Clarendale Arcadia, a newly constructed senior living community in the Arcadia neighborhood of Phoenix, Arizona. The financing was arranged on behalf of a repeat client joint venture between Harrison Street Asset Management, LCS, and Ryan Companies US, Inc., with LCS serving as the operator. Ryan Stoll, National... Read More »
  • Brookdale Shares Hit Seven-Year High

    Brookdale Senior Living has posted occupancy increases for several consecutive months. The operator has lagged behind the industry for a decade now, so it is about time.  Weighted average occupancy has increased each month since January, beginning at 79.2% and reaching 82.5% in September. The third quarter’s average of 81.8% is up 290 basis... Read More »
Senior Care Portfolio Secures Bridge Loan

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

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

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

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

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 campus 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. Cain... Read More »
Phorcys Capital Partners Acquires AL/MC Community Through Receivership Sale

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 »
Ensign Acquires Iowa Skilled Nursing Facility

Ensign Acquires Iowa Skilled Nursing Facility

Nick Cacciabando and Ryan Saul of Senior Living Investment Brokerage helped an industry veteran in Iowa sell his last solely-owned senior care facility, finding a publicly traded buyer in the process. The facility in question was Crystal Heights Care Center, a 72-bed skilled nursing facility in Oskaloosa, Iowa, about one hour southeast of Des Moines. Set on a 12-acre campus, the facility was built in phases from 1975 to 1995 to 2017. The last addition consisted of a state-of-the-art rehabilitation wing with 14 private suites and a therapy gym at the cost of approximately $2.5 million. The wing stabilized within just a few months of opening.  Total occupancy was around 87.5%, and the... Read More »
Investor Group Enters the Seniors Sector Through Idaho Purchase

Investor Group Enters the Seniors Sector Through Idaho Purchase

An assisted living/memory care community in Twin Falls, Idaho, traded with the help of Chad Mundy and Nick Stahler of The Knapp-Stahler Group at Marcus & Millichap. The campus opened in 1989 with an eight-unit building, and added two 15-unit buildings in 2009 and 2015, respectively. Some units were added to each building in 2023 and 2024, and now, the campus totals 43 beds in 43 units, with 21,541 square feet. Occupancy was between 95% and 100%, and the campus generated well over $900,000 of NOI on more than $2.5 million of revenues.  A new investor group entering the sector emerged as the buyer, paying an undisclosed sum for the community. At the release of contingencies, Mundy... Read More »
Not-For-Profit SNF Owner Expands in Texas

Value-Add Owner/Operator Grows in Texas

Amy Sitzman, Giancarlo Riso, Connor Doherty and Ryan Kelly of Blueprint got a seniors housing deal across the finish line in Odessa, Texas. Built in 2013 as part of an expansion to an adjacent CCRC, the building has 67 assisted living and memory care units. It had gone through multiple operator changes over the years. The deal was marketed as an opportunity for a regional owner/operator to acquire the community in a growing West Texas market and stabilize cash flow through expense controls. Blueprint procured multiple competitive offers, ultimately advising the seller to move forward with a value-add regional owner/operator with an existing presence in the Dallas-Fort Worth market that was... Read More »
Seller Divests Its Only Out-Of-State Asset

Seller Divests Its Only Out-Of-State Asset

Senwell Senior Investment Advisors facilitated the successful sale of a 100-bed skilled nursing facility in Pennsylvania. Built in 1987, the facility was developed by an Ohio-based operator as part of a broader growth initiative. Its occupancy rate was consistently strong, often exceeding 95%. It was the seller’s only out-of-state asset, leading to the decision to divest and refocus operations within Ohio.  The sale process attracted five strong offers. Senwell and the seller ultimately moved forward with a buyer that demonstrated the clearest ability to execute a smooth operational transition and align with the long-term needs of the community. The buyer will look to enhance its... Read More »
Joint Venture Adds to Its Seniors Housing Footprint 

Joint Venture Adds to Its Seniors Housing Footprint 

Foundry Commercial and funds managed by affiliates of Fortress Investment Group acquired the RoseWood Village Assisted Living and Memory Care communities in Charlottesville, Virginia. The two communities, RoseWood Village at Greenbrier and RoseWood Village at Hollymead, will be operated by Foundry Commercial’s management company, Allegro Living, under its Spring Arbor brand. With these additions, Allegro Living’s footprint now comprises 54 seniors housing communities across 14 states, with 10 of those owned/managed assets being Spring Arbor communities.  The Greenbrier community was built in 2001 and expanded in 2018, while the Hollymead community was constructed in 2008. Together they... Read More »