The Lenders Roundtable: A Capital Markets Update
On Thursday, June 26th, Managing Editor of The SeniorCare Investor Ben Swett sat down with a group of expert panelists to dive into the evolving financing process of M&A deals. Panelists included Dave Boitano, EVP & CIO of LTC Properties, Cary Tremper, President & CEO of Tremper Capital Group, and Patrick Gilbreath, Sr. Relationship Manager & Vice President of KeyBank. Frank Cassidy, who oversees HUD’s Office of Housing and the FHA, also dialed in as a special guest to discuss HUD’s launch of its “Express Lane.” Watch the LTC Properties-sponsored webinar here. Read More »
Maryland Assisted Living Portfolio Trades Hands
In its first out-of-state transaction, Michigan-based Meiser Commercial Real Estate facilitated the sale of a five-property seniors housing portfolio in the Baltimore, Maryland market, on behalf of a family seller. The portfolio includes 79 assisted living units with 80 beds and was 95% occupied at the time of closing. Renovations were completed in 2019, and three of the buildings are on the newer side. The undisclosed buyer acquired the portfolio for $13.25 million, or $167,700 per unit, at an 11.8% cap rate, using the same lender that held the previous loan on the property. The transaction closed smoothly. Read More »
Distinctive Healthcare Recaps Class-A Naples Community
Cushman & Wakefield secured an all-cash, $40 million equity raise for the recapitalization of the Seascape at Naples, offering an attractive basis with strong upside potential. Built in 2018, this Class-A seniors housing community is in Naples, Florida, with 196 independent living, assisted living and memory care units. John Alascio, Aaron Graves and Jason Blankfein of Cushman & Wakefield’s Equity, Debt & Structured Finance group advised the borrower, Distinctive Healthcare, alongside seniors housing specialists Jason Skalko from Cushman’s Investment Sales team and David Young of Greystone. Within the first month of taking over operations, Distinctive... Read More »
Newmark Secures Refinancing for Virginia Class-A Communities
The Newmark Seniors Housing Team announced the closing of the refinance of two newer-vintage seniors housing communities in Virginia. Both communities saw strong leasing activity during the marketing process, and Newmark closed with a regional bank that provided non-recourse financing at competitive terms. The total loan was around $88 million. Built in 2021, The Providence Fairfax is a seven-story seniors housing community with 124 assisted living and 30 memory care units. Built in 2022, The Landing Alexandria is a nine-story seniors housing community in Alexandria with 40 independent living units, 89 assisted living units and 42 memory care units. Read More »
Financing Secured for New Jersey SNF Acquisition
MONTICELLOAM announced the financing of a $33.6 million senior bridge loan for the acquisition of a skilled nursing facility in New Jersey. The floating-rate loan has a 30-month initial term for the borrower group, a longstanding client of MONTICELLOAM, that will use the financing towards the purchase of a northeastern New Jersey facility totaling 180 beds. Read More »
60 Seconds with Swett: The Fight between Brookdale and Ortelius
It has been a bit amusing to see both Brookdale Senior Living and Ortelius Advisors claim victory with Institutional Shareholder Services’ report on the upcoming July 11th stockholders vote on the new slate of directors for the Board. For Ortelius, ISS recommended voting for Steven Vick and Lori Wittman, two of the six nominees that Ortelius put forth in March, while also acknowledging the benefit of Ortelius’s efforts on initiating needed change at Brookdale. Meanwhile, Brookdale rejoiced at ISS effectively recommending that shareholders’ not hand control of the Board to Ortelius by only supporting two of the six nominees and pointing out Ortelius’s lack of details in the turnaround plan... Read More »
Newmark Closes Major Portfolio Deal
In one of the more significant deals to close so far in 2025, Newmark announced the off-market sale of a large portfolio spread across the United States. Totaling 900 units of independent living, assisted living, memory care and skilled nursing, the portfolio is located in Virginia, Georgia, Maryland, Indiana and Arizona. Little else has been disclosed so far, but the portfolio sold for $418 million, or $464,400 per unit, which is one of the highest per-unit prices that we have seen so far this year. Read More »
Off-Market Transaction Closes in California
JCH Senior Housing Investment Brokerage was engaged in the sale of a well-established assisted living/memory care community with 86 units and 100 beds in Inland Empire, California. JCH was tasked with confidentially marketing the community to a select group of qualified buyers. There were multiple qualified offers, with a local operator being selected for its alignment with the seller’s values and its portfolio of seniors housing communities in the region. The buyer acquired the community for $14.125 million, or $164,200 per unit. The intent is to maintain current operations while enhancing resident experience and operational efficiencies. Both parties were represented by Cindy... Read More »
O&M Investments Acquires Nebraska Senior Care Portfolio
O&M Investments, LLC, led by Nick Martinez and Todd Okum, has expanded its footprint into Nebraska through an acquisition of a senior care portfolio. The seller was a mom & pop seeking an exit from the industry. Built in the 1970s and 1980s, the six senior care facilities are located in the Omaha MSA, comprising around 350 skilled nursing beds and approximately 60 assisted living beds. They were operating at near-breakeven at closing, with O&M increasing census since then. This purchase brings O&M’s total owned/operated facilities to 96 across 12 states. The facilities will now be managed by a seasoned regional operator. Read More »
Berkadia Closes Four HUD Loans
Within the past 30 days, Jay Healy and Andrew Lanzaro of Berkadia Seniors Housing & Healthcare have closed four HUD 232/223(f) loans totaling $64.4 million in aggregate proceeds. The loans were obtained on behalf of three sponsors and are secured by three seniors housing communities and a skilled nursing facility spanning Hawaii, Texas and Washington. Each loan carries a fully amortizing 35-year term. The first transaction was a $18 million refinance for a San Marcos, Texas-based owner/operator of assisted living and memory care communities. The proceeds were used to retire bank construction debt and convertible ownership debt utilized to develop the 94-unit AL/MC community in... Read More »Schedule a demo
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