AEC Living Secures Financing
Helios Healthcare Advisors structured the recapitalization of a 300-bed assisted living and skilled nursing portfolio in the San Francisco MSA. Facing a pending maturity with its existing lender, the borrower (AEC Living) engaged Helios to structure a refinance across two owned/operated assisted living communities and one skilled nursing property that was subject to a triple-net lease with a large public health district. All assets were geographically clustered and located in very high-income markets in the Bay Area. Helios secured a financing solution through a family office that sponsored a commercial real estate debt-fund. The total loan amount was $12 million and closing occurred... Read More »
Massachusetts SNF Secures New Future in Behavioral Health
Blueprint’s Behavioral Healthcare Team sold a vacant skilled nursing facility on behalf of a nationally recognized institutional REIT to a buyer that will convert the building into a behavioral health facility. The existing asset is in Agawam, Massachusetts, and was identified as a potential candidate for a behavioral healthcare provider due to the strong patient demand, referral networks and reimbursement for inpatient substance abuse treatment. Andrew Sfreddo, Shane Harmon, Gunnar Raney and Colin Segner of Blueprint targeted behavioral healthcare-focused operators that would push price and terms well beyond vacant SNF values. The ultimate winning bidder was a large, privately held,... Read More »
Meridian Brings On New Senior Managing Director
Meridian Capital Group announced that Amy Heller has joined the firm’s seniors housing and healthcare group as a Senior Managing Director focusing on healthcare related debt brokerage. Heller will support the strengthening of Meridian’s seniors housing and healthcare group, overseeing the development of new and innovative solutions for clients across the firm’s advisory and underwriting capabilities. Heller is an industry veteran with more than two decades of experience in healthcare finance. She founded and served as President and co-Chief Lending Officer of the Healthcare and Housing and Urban Development (HUD) lending divisions at Forbright Bank, where she built and led teams... Read More »
Clearwater Welcomes New CEO
Clearwater Living announced that Danielle Morgan has been promoted to CEO. As Clearwater approaches 20 seniors housing communities under management, Morgan will assume an overall leadership role overseeing the expansion of its operations, including strategic initiatives, growth opportunities and maintaining culture. With more than 30 years of experience, Morgan is an experienced leader in the financial services and senior living industries. Since joining Clearwater in 2017, Morgan has worked to help provide strategic leadership and implement long-term growth strategies. Before joining Clearwater, Morgan served as chief operations officer of MBK Senior Living for 10 years. ... Read More »
60-ish Seconds with Steve Monroe: So, What’s Goin’ On?
While I did not make it to the NIC Spring Conference last week, my colleagues Ben and Steph were there to meet and greet the record crowd. The crowd included a lot of smiling faces. Some takeaways included the expectation that liquidity is returning and that we will see bigger deals this year. Also, lenders will be putting out more cash in 2025 than in 2024. All of this bodes well for the M&A market. There was, however, some concern about what the Trump Administration is doing, and what the impact will be on seniors housing and care. And there should be concern. Even though the labor situation has improved, my guess is that there will be fewer low-wage workers around given some... Read More »
Brookdale Bucking Historical Trend
Brookdale Senior Living announced its February occupancy results, and it was better than we expected. Month-end occupancy has now increased for three straight months since November. At the end of February, occupancy was 80.8%, marking the seventh straight month that it has topped 80%, and up 20 basis points from the end of January. As you know, the winter months are usually terrible for census, and this year the strong flu has not helped. But Brookdale has succeeded, nonetheless. Weighted average occupancy in February increased by 10 basis points to 79.3%, and that seems to be stuck in a holding pattern as it has hardly budged for six months. The share price jumped by 3.6% on the news on a... Read More »
CareTrust’s Recommended Cash Acquisition of Care REIT by Bidco
CareTrust REIT reached an agreement with the board of directors of Care REIT plc on the terms of a recommended cash offer to be made for the acquisition of Care REIT by CR United Bidco Ltd, a wholly-owned subsidiary of CareTrust. CareTrust has agreed to pay 108 pence in cash per ordinary share of Care REIT. Based on the Sterling to Dollar exchange rate on March 10, the terms of the acquisition represent a Care REIT market capitalization of US$577 million and, together with the assumption of net debt of approximately US$240 million, represents a total purchase price of approximately US$817 million. The acquisition represents a 32.8% premium to Care REIT’s March 10 closing share price and a... Read More »
Walker & Dunlop Handles California Closing
In February, Tony Cassie, Brant Nelson and Sam Thompson of Walker & Dunlop facilitated the sale of a seniors housing community in Concord, California. The seller, a joint venture between a local private investor group and Agemark Senior Living, purchased the community in 2018 and conducted extensive renovations while turning around operations. Built in the 1970s as a nursing home, the community comprises 100 assisted living and memory care units. At the time of sale, occupancy was 98%. CareTrust REIT, in partnership with Kalesta Healthcare, acquired the community for $20.5 million, or $205,000 per unit. Read More »
Joint Venture Acquires in Georgia
Senior Living Investment Brokerage handled the sale of a seniors housing community in Dallas, Georgia. The seller was the existing lender that had foreclosed on the asset. Built in 2013, the community comprises 88 assisted living and memory care units, totaling 66,961 square feet across 3.88 acres. It was 65% occupied at the time of sale, and the community’s profitability could be improved. The buyer was a joint venture between a regional operator and an institutional capital partner. The asset fits its footprint and expertise, and the partnership intends on making a significant renovation and rebranding of the operation to reposition and stabilize the community. Bradley Clousing and... Read More »
Public REIT Divests Standalone MC Community to an Owner/Operator
A publicly traded REIT engaged Blueprint in the divestment of its vacant seniors housing community in Houston, Texas. Built in 1995 and renovated in 2009, the community comprises 48 memory care units. It was vacated by the prior operator in 2023, but current ownership has ensured the physical plant was well maintained to prevent deterioration. Giancarlo Riso, Brooks Blackmon, Amy Sitzman and Lauren Nagle handled the transaction, securing multiple competitive offers and ultimately advising the REIT to move forward with an all-cash offer from an owner/operator that Blueprint transacted with earlier in the year. Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
