Wisconsin Communities Secure Bridge Financing
MonticelloAM, along with a firm affiliate, closed $28 million in bridge financing for two seniors housing properties in Wisconsin. Karina Davydov originated the transaction through the firm’s bridge lending platform. The floating-rate senior bridge loan has a 24-month initial term with two extension options. The sponsor is an experienced Midwest operator and repeat client of MonticelloAM that plans to use the loan proceeds to refinance the existing debt on two assisted living communities near Madison and Milwaukee, comprising 170 beds. Read More »
Brookdale Making A Run?
Brookdale Senior Living just announced that May’s occupancy levels jumped quite impressively. Nothing like a proxy challenge to get things moving in the right direction. If only they had worked it two to three years ago, Cindy Baier might still have her job. But heck, she still has a lot of equity in the company, which is now increasing in value. Finally. May’s month-end occupancy increased by 50 basis points over April’s to land at 81.5%, or 200 basis points higher than last May. The weighted average occupancy in May was 80.0%, or 190 basis points above last May’s. Same-community weighted average occupancy in May jumped to 80.6%, up 20 basis points sequentially, while month-end... Read More »
SLIB Closes Transaction Trio
Senior Living Investment Brokerage announced a slew of closings in the western United States, starting with a senior care campus in Douglas, Wyoming, in the rural eastern part of the state. Originally built in 1968, the skilled nursing portion (Douglas Care Center) was renovated in 2010, and the assisted living/memory care portion (Mountain Lodge) was added in 2018. The adjacent properties feature 74 units and 96 beds of assisted living, memory care and skilled nursing on nearly five acres. Occupancy was around 70%. Its local mom & pop seller decided to retire and divested the campus to a Utah-based regional owner/operator expanding its presence in Wyoming. Vince Viverito and Jason... Read More »
Sonida Senior Living Grows in Florida and Georgia
Sonida Senior Living acquired two seniors housing communities through separate transactions. In May, Sonida acquired a memory care community in Tarpon Springs, Florida. It was built in 2017 and features 64 units. This community complements Sonida’s recently acquired central Florida assets, bringing its Florida portfolio total to eight assets. The company will implement its Magnolia Trails personalized memory care services to activate the community while leveraging its regional sales and marketing support to drive occupancy. The purchase price was $11 million, or $171,900 per unit, funded with cash on hand and a new $9 million non-recourse mortgage from the asset’s existing lender.... Read More »
Lument Closes Freddie Mac Loan
Lument closed a $60 million Freddie Mac loan to refinance Park Terrace, a 180-unit assisted living/memory care community in Rancho Santa Margarita, California. Kisco Senior Living owns and operates the property, which was built in 2000 with extension renovations and additions from 2023 to 2025. Lument’s Chris Cain, managing director based in Dallas, led the transaction. The Freddie Mac loan has a fixed interest rate, 10-year term with seven years interest only, 30-year amortization, and allows for cash-out proceeds. It refinanced an existing agency loan. Read More »
California SNF Secures Acquisition Loan
Greystone provided a $26 million bridge loan for the acquisition of a skilled nursing facility in California. The loan includes a 15-month term with a 12-month extension option at a floating rate and is full-term interest-only. Greystone intends to lead the borrower through a permanent financing solution with a HUD-insured loan. The financing was originated by Christopher Clare and Ben Rubin. Read More »
60 Seconds with Swett: May M&A Activity Slumps
Earlier this year, M&A activity was continuing at a record pace after 2024 finished with 714 deals for the year, an annual record by far. February, March and April all exceeded 60 transactions each, peaking in March with 69 deals and average 780 annualized deals across that three-month period. But we were a little surprised when dealmaking plummeted in May to 46 transactions, the lowest monthly total since February 2024. Looking at only U.S. deals, the decline has been steadier, going from 57 deals in March to 46 in April to 35 in May, the lowest domestic monthly total since September 2023. Dealmaking is always cyclical, with waves of listings and closings ebbing and flowing. And we’ve... Read More »
National Real Estate Investment Group Acquires 24-Property Portfolio
Ikaria Capital Group announced the successful funding of a $270 million term loan and $30 million preferred equity investment for a national private healthcare real estate investment group to support the acquisition of a 24-property skilled nursing and seniors housing portfolio located in the Pacific Northwest. First Citizens Bank led the bank syndicate in providing the first mortgage financing for the acquisition. The portfolio encompasses facilities across multiple states, each with varying levels of acuity. There are 1,584 skilled nursing beds, 90 assisted living units and 450 independent living units. The existing management team will continue to operate the facilities and will retain... Read More »
The Zett Group Sells Idaho Portfolio
A trio of small, well-performing assisted living communities in rural Idaho sold with the help of Blake Bozett and Spud Batt of The Zett Group. The pair represented a mom & pop who were looking to retire after nearly 25 years of operating. Terri and Carl Pendleton built the first 16-unit assisted living community in Gooding, Idaho, and added two more 16-unit buildings next to each other in Jerome, one focused on memory care that was built in 2011 and one assisted living building constructed in 2015. Together, they are known as DeSano Place Assisted Living. Occupancy was strong across the board, averaging over 90% across the last two years with a 95% private pay census. Under the... Read More »
JV Buyer Acquires Two Communities From Separate Sellers
Helios Healthcare Advisors structured the sale and arranged joint venture equity for the acquisition of two assisted living/memory care communities in Alabama on behalf of separate sellers. Helios was initially engaged by the Episcopal Diocese of the Central Gulf Coast to identify a buyer that would preserve the legacy of Murray House Assisted Living, a historic assisted living community located in Mobile, Alabama. Helios identified an operator with extensive experience in the industry that had recently established a new operating platform. However, faced with challenges associated with capitalizing the transaction, the buyer engaged Helios to assist in arranging an equity investment from... Read More »Schedule a demo
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