BMO Closes Facility for MCAP Acquisition
BMO’s Healthcare Real Estate Finance group closed a large facility to facilitate the acquisition and renovation of nine seniors housing communities in Virginia. Totaling more than 780 beds, the portfolio will continue to be managed by Commonwealth Senior Living on behalf of the new owner, Municipal Capital Appreciation Partners (MCAP). This was part of Invesque’s sale of its 20-property Commonwealth Senior Living portfolio, approved earlier this summer. MCAP emerged to repurchase the properties after selling them to Invesque in 2019 for $340.4 million. The whole portfolio is mostly in Virginia, with locations in Connecticut, Maryland, Michigan and Pennsylvania. To fund the acquisition and... Read More »
Stellar Turns to Acquisitions with New JV
Stellar Senior Living announced the close of its first joint venture with $20 million in capital commitments. Stellar’s partner is a large private equity firm, and the joint venture will provide funding to acquire 10 to 15 seniors housing communities over its term. The first acquisition under this new venture is The Grand at Broomfield Assisted Living & Memory Care, previously known as The Gallery at Broomfield, in Broomfield, Colorado. The Class-A community was built in 2023 and features 115 assisted living and memory care units. Stellar has managed this community for the past couple of years, and is now also a minority owner. The community leased to 100% occupancy in the first... Read More »
Florida Not-For-Profit Secures Financing
Ziegler announced the closing of Oak Hammock at the University of Florida’s $93.5 million Series 2025 bonds issued through the Alachua County Health Facilities Authority. This is the third transaction Ziegler has completed for Oak Hammock, a Florida not-for-profit corporation that owns and operates a CCRC in Gainesville, Florida. The community sits on a 135-acre campus that currently consists of 269 independent living, 52 assisted living and 12 memory care units, plus 73 skilled nursing beds. All the skilled nursing beds are Medicare certified. Proceeds of the Series 2025 bonds will be used, together with other available funds, to finance and refinance all or a portion of the costs... Read More »The Healthcare Resort of Kansas City Featured in LevinPro Database
The Healthcare Resort of Kansas City has been linked to a merger or acquisition in the LevinPro M&A deal database. The Medicare-licensed facility is a private skilled nursing facility situated at 8900 Parallel Pkwy in Kansas City, Kansas. It was incorporated on January 28, 2014. LevinPro, which tracks M&A activity across more than a dozen healthcare sectors from hospitals and home health to medical real estate and biopharma, profiled the transaction involving The Healthcare Resort of Kansas City in its deal database, which is available to subscribers here. LevinPro has tracked thousands of deals in the skilled nursing facility sector throughout its history. To see the underlying... Read More »Mason Pointe Care Center Involved in M&A Activity Documented in LevinPro Database
Mason Pointe Care Center has been linked to a merger or acquisition in the LevinPro M&A deal database. The Medicare-licensed facility is a not-for-profit skilled nursing facility situated at 13190 South Outer 40 Rd in Chesterfield, Missouri. It was incorporated on March 23, 1863. LevinPro, which tracks M&A activity across more than a dozen healthcare sectors from hospitals and home health to medical real estate and biopharma, profiled the transaction involving Mason Pointe Care Center in its deal database, which is available to subscribers. LevinPro has tracked thousands of deals in the skilled nursing facility sector throughout its history. To see the underlying deal data, or for... Read More »
Zett Group Closes Full-Circle Transaction
We do not see deals like this often. In a full circle transaction, Blake Bozett and Spud Batt of The Zett Group sold a large seniors housing community in Eugene, Oregon, to a Salem, Oregon-based group in partnership with a new operator through a pre-established JV structure. Bozett represented his grandparents, Ron and Joyce Knutson, a pioneering couple who first got involved in the seniors housing space in the 1970s in the Pacific Northwest. The Eugene property was one of two communities left in the family’s hands, with the other in Spokane, Washington. Built in 1979 by the Knutsons, Churchill Estates features 241 units of independent living, assisted living and memory care, one of the... Read More »
Brookdale Misses Revenue Targets, Again
Brookdale Senior Living continues to slap investors and analysts around, missing consensus revenue targets for the fourth quarter in a row. We know, never rely on “consensus” anything, but the company seems to always disappoint, even now when everything should be rallying. Investors did not like what they heard and sent shares tumbling by 10% in early trading, with some recovery later in the morning. It was not all bad news, of course. Occupancy continues to rise, with weighted average occupancy over 80% in the second quarter, a key benchmark, and same-community occupancy rose to 80.7% in the second quarter, up 190 basis points year over year and up 70 basis points sequentially.... Read More »
Owner/Operator Divests to Private Fund in Florida
Bradley Clousing, Daniel Geraghty and Ryan Saul of Senior Living Investment Brokerage were engaged by a Southeast owner/operator in its divestment of two seniors housing communities that sit a few blocks apart in Wilton Manors, Florida. The buildings total 159 independent living and assisted living units, and were cash flow negative when the seller acquired them in late-2022. Post-acquisition, the owner/operator completed extensive renovations, and then the operator, Golden Bell Senior Living, was brought on to rebuild census and significantly improve operating performance at both of the communities. The buyer, a South Florida-based private fund, will keep Golden Bell on as the operator.... Read More »
GEM Realty Capital Expands Its Active Adult Portfolio
The CBRE Capital Markets Houston Multifamily Group and CBRE National Senior Housing handled the sale of an active adult community in Houston, Texas. Built in two phases in 2006 and 2012, Elate Royal Oaks, previously known as Camden Royal Oaks, consists of 340 units (236 were built in Phase 1, and 104 were built in Phase II). Clint Duncan, Matt Phillips, Jock Naponic, Nolan Mainguy and Philip Kerr of the Multifamily Group, as well as Aron Will and John Sweeny on the seniors housing side, represented the seller. CBRE National Senior Housing also acted as the advisor in securing acquisition financing on behalf of the buyer through its Debt & Structured Finance team. Aron Will and Michael... Read More »
New Venture Secures Acquisition Financing and Purchases Active Adult Community
Newmark arranged the sale and financing for a seniors housing community in Huntington Beach, California. The seller, Bascom Group, was represented by Newmark Vice Chairman Dean Zander, who worked on the deal with Voit Real Estate Services’ Joe Leon and Nick Ingle. Huntington Breeze is a 114-unit, 103,000-square-foot active adult community that was built in 1987 and renovated in 2017. Newmark Executive Managing Directors Vincent Punzi and Lowell Takahashi facilitated acquisition financing on behalf of the buyer, WSW Property Ventures, a new venture headed by Steve Wasserman, Pamela Scott and George Wu. WSW plans to unlock additional value through strategic initiatives, including the... Read More »Schedule a demo
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