Ivy Healthcare Group Divests to Regional Owner/Operator
Engaged by Ivy Healthcare Group, Evans Senior Investments facilitated the sale of a skilled nursing facility in Gastonia, North Carolina. Ivy at Gastonia comprises 50 beds and has a strong operational foundation. ESI secured a regional owner/operator as the buyer. The incoming operator is expected to benefit from a favorable reimbursement environment and the potential for further margin improvement through continued operational enhancements. The deal progressed quickly. An LOI was signed just 20 days after going to market, and closing occurred within 45 days of contract execution, wrapping up the entire process in less than four months. Based on conversations with those involved and... Read More »
Denver-Based Owner/Operator Grows in Colorado
Blueprint represented a court-appointed receiver in the sale of a three-asset seniors housing portfolio in the Grand Junction, Colorado MSA. The portfolio included two assisted living communities and one standalone memory care community. At the time of sale, the communities were collectively 65% occupied and breaking even on a combined basis. Built between the late 1990s and early 2000s, the two assisted living communities each comprise 50 units and require some capex, presenting an opportunity to add value. One was 75% occupied and the other 85%. The payor mixes were split roughly 60/40, reflecting the communities’ role in serving a real need for Medicaid-assisted living in the... Read More »
Ohio Skilled Nursing Facility Changes Hands
Connor Doherty and Ryan Kelly of Blueprint closed the sale of a 61-bed skilled nursing facility located southeast of Columbus, Ohio. While the facility was experiencing operational challenges at the time of marketing, it had a long-standing reputation for providing quality care to the community. Blueprint’s marketing process emphasized the facility’s six-decade legacy and strong local brand, along with the opportunity to enhance operations under new leadership. A smooth handoff in operations was a consideration in the transaction, and the buyer, a growing regional platform with values and an organizational approach aligned with those of the seller, was well-positioned to carry the... Read More »
Berkadia’s H1 2025 Seniors Housing & Healthcare Financings
Berkadia’s Seniors Housing & Healthcare platform closed $1.13 billion in financing during the first half of the year. The team financed 64 properties totaling 7,710 beds/units. The total includes $250 million in Berkadia-led bridge loans with participations, $123 million in HUD 232/223(f) financings, and $758 million in GSE and third-party placements. A notable refinance from the first half of the year was one of the largest seniors housing refinances in recent years. The team secured $627.2 million of mortgage debt for a 35-asset seniors housing portfolio spanning 15 states. Read More »
Lument Brings on New Director
Jason Beakas joined Lument as a director, supporting the firm’s seniors housing and healthcare origination efforts with Doug Harper and Casey Moore. He is based in Columbus, Ohio, and serves clients nationwide. Since joining Lument’s predecessor Lancaster Pollard in 2010, Beakas has managed and underwritten more than 200 transactions totaling nearly $1.7 billion across a range of capital structures, including FHA/HUD, Fannie Mae, USDA, balance sheet loans, and tax-exempt bonds. Read More »
2nd Quarter Investor Call: The Great Debates of Senior Care
On Thursday, July 17, Managing Editor of The SeniorCare Investor Ben Swett hosted SCI’s latest webinar, dubbed The Great Debates of Senior Care, with panelists Dan Revie of Ziegler, Scott Hougham of Sage, and Michael Feinstein of Focus Healthcare Partners. Issues such as the chances of having a unit shortfall, whether cap rates are too low, the decision of building versus buying, labor-related challenges, and more were discussed. The expert panelists also provided some advice to new entrants, and responded to questions from the audience. LevinPro LTC subscribers can watch the recording of the webinar here. Read More »
Ventas Acquires in Washington State
Ventas expanded its portfolio through a recent acquisition of a seniors housing community in Washington State. Built in 2003, MorningStar at Silver Lake is in Everett, Washington, with 113 independent living and 35 assisted living units. The in-place operator will continue to manage the community going forward. MorningStar Senior Living has been operating the community since 2021, coming into a community that was struggling with census at the time. Today, it maintains nearly full occupancy. It is unclear who the current seller was, but according to LevinPro LTC’s deal database, Artemis Real Estate Partners acquired the community in 2018 for $50.5 million, or $341,000 per unit, at a 6.2%... Read More »
Chicago Pacific Founders Acquires Class-A Communities
Berkadia handled the sale and financing of two Class-A independent living, assisted living, and memory care communities: Grand Living at Citrus Hills and Grand Living at Bridgewater. The pair of seniors housing communities have a combined total of 337 units, and are located in Hernando, Florida, and Coralville, Iowa, respectively. Managing Directors Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers led the deal on behalf of the sellers, PGIM Real Estate and Ryan Companies. Managing Directors Austin Sacco and Steve Muth, Senior Director Garrett Sacco, and AVP Alec Rosenfield secured acquisition financing through Freddie Mac. The buyer was Chicago Pacific Founders and its... Read More »
Blueprint Closes Lease-to-Purchase Transaction
A large New York-based seniors housing owner engaged Blueprint to explore the sale of an 80-unit assisted living/memory care community in Harrisburg, Pennsylvania. Kory Buzin and Steve Thomes handled the transaction. Ownership acquired the asset several years prior while in distress and brought on Viva Senior Living as manager to execute a turnaround plan, which was now in its final stages. While the asset was performing, it was non-core to the owner’s geographic portfolio footprint. The seller ultimately selected a buyer group that chose to retain Viva Senior Living as the operator and negotiated a lease structure with performance-based incentives and a purchase option, enabling the... Read More »
BHI Provides Bridge Loan
BHI, the U.S. branch of Bank Hapoalim B.M., provided $49 million in bridge-to-HUD financing for a portfolio of three seniors housing communities in the suburbs of Detroit. The portfolio consists of Hampton Manor of Dundee, Hampton Manor of Trenton and Hampton Manor of Hamburg. Together, the communities total 221 units, with 171 assisted living and 50 memory care units. Shahid Imran, doing business as Hampton Manor, was the borrower. Proceeds from the loan will be used to refinance existing debt and facilitate a partnership buyout, with Imran assuming full ownership of the properties, which were developed within the last five years by Imran and undisclosed partners. Read More »Schedule a demo
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