CFG Deploys Capital Across Four Transactions
Capital Funding Group financed more than $53 million across four transactions from mid- to late-March. The transactions supported three skilled nursing facilities and four assisted living and memory care communities throughout South Carolina and Georgia. They were completed on behalf of nationally recognized borrowers, one of which is a returning client. The first transaction was a $13 million bridge-to-HUD loan for the acquisition of four assisted living and memory care communities with 219 beds in Georgia. James Zabel originated the transaction. CFG next provided a $12.4 million HUD loan for the refinancing of a 176-bed SNF in Inman, executing the permanent, low-interest rate,... Read More »
North Carolina CCRC Secures Bond Financing for Expansion
Ziegler announced the pricing of Twin Lakes Community’s $35.31 Series 2025A and 2025B bonds. Twin Lakes Community operates a not-for-profit, fee-for-service CCRC on 215 acres in Burlington, North Carolina. Since opening in 1983, Twin Lakes has grown to include 482 independent living, 36 assisted living, 32 memory care and 104 health care units. Having recently completed construction and fill-up of Stockton Phase 1, a 48-unit IL apartment building, Twin Lakes is now preparing to launch Phase 2 of the Stockton project. This next phase will include an additional 36 IL apartments, ranging from 1,046 to 1,939 square feet. At the time of pricing, 100% of the new units were pre-sold with a 10%... Read More »Transitions Healthcare Shook Home Linked to M&A Activity in LevinPro Database
Transitions Healthcare Shook Home 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 55 S 2nd St in Chambersburg, Pennsylvania. It was incorporated on June 13, 2023. 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 Transitions Healthcare Shook Home 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 deal data,... Read More »
Brookdale Occupancy Hits 81%
Brookdale Senior Living reported its first quarter earnings results, and it appears to be building on the momentum started at the end of 2024. In addition, month-end occupancy in April topped 81.0%, marking the ninth straight month with ending occupancy above 80.0%. While it is great the company is making progress, there is still a lot more work to do. After declining in the second half of 2024, the seniors housing operating margin increased to 28.4% in the first quarter. This represents a 130-basis point increase from the year-ago quarter, but a whopping 290-basis point increase sequentially. Meanwhile, RevPOR increased by 3.0% year over year and 4.6% sequentially, contributing to... Read More »
Development Underway for New Fairfield County CCRC
A new CCRC is under construction in our backyard in Stamford, Connecticut (figurative backyard from our headquarters in New Canaan). Mozaic Senior Life (formerly Jewish Senior Services) is building Mozaic Concierge Living, a CCRC that will offer 168 independent living units, along with assisted living, memory care and skilled nursing. The project has been years in the making and is the product of a coordinated effort between Mozaic, development consultant Greenbrier and investment banking firm HJ Sims (another Fairfield County firm). Greenbrier has supported the development from early site evaluation and financial modeling through sales strategy and design. They will also take on a... Read More »
NHI Raises Guidance in Q1 Earnings Report
National Health Investors came out with its first quarter earnings and reported modest improvements in several financial metrics from the year-ago quarter. The REIT also increased its 2025 annual guidance range, which investors must have liked, pushing up the share price by nearly 3% in the trading hours following the announcement and earnings call to hit year-to-date highs. Net income attributable to common stockholders per diluted common share for the Q1:25 was $0.74 compared to $0.71 during the same period in the prior year. It also included approximately $300,000 in proxy contest and related expenses for a proxy campaign launched by activist investor Jonathan Litt’s Land &... Read More »
Oklahoma Hospital Divests to Arkansas-Based Joint Venture
Senior Living Investment Brokerage continued its May hot streak with two more closings. First, the firm represented a local hospital that was looking to divest its 55-unit assisted living/memory care community in McAlester, Oklahoma, in the rural eastern part of the state. The community was built in 2017 but lagged behind operationally for years. Occupancy was healthy at 91%, but it operated below a 10% margin on $3.1 million of revenues. It could stand to benefit from a more experienced and seniors housing-focused manager to push rates, control expenses and support its staff. An Arkansas-based partnership that has an operating presence in Arkansas and eastern Oklahoma emerged as the... Read More »
CIBC Finalizes Refinance for High-Quality Skilled Nursing Operator
CIBC Bank closed a $32 million cash-out commercial mortgage refinance related to two skilled nursing facilities in Kentucky and Tennessee. Both are leased to, and operated by, a high-quality, national skilled nursing operator. The two facilities encompass 243 total licensed beds and the buildings each have an effective age of 20 years. The two-facility portfolio posts strong operating results with occupancy at 82% with EBITDAR margins of 21%. The financing was handled by Matthew Tyler and Neal Netzel. Read More »
Three Separate Deals Close in Wisconsin
Bob Richards of Senior Care Realty recently closed three separate seniors housing transactions in Wisconsin. First, Richards facilitated the sale of a community in southern Wisconsin on behalf of a seller who had owned the community for more than 25 years and was moving towards retirement. The stand-alone memory care community is on the smaller side with occupancy typically hovering above 90%. It briefly dipped below 90% at closing but the buyer remained confident in a rebound, which has since occurred following the acquisition. Multiple operators placed bids, with the ultimate buyer being a newer owner/operator that was looking to expand its portfolio. The community, which traded at a... Read More »
Planned Florida Community Lands Bond Backing
JLL Securities and HJ Sims, in collaboration with JLL Capital Markets’ Seniors Housing team, arranged $134.26 million of senior series 2025A bonds for a seniors housing community that will be built in Orlando, Florida. The publicly offered, tax-exempt financing has a final maturity of 40 years. Greg Fawcett of JLL Securities, Aaron Rulnick, Kerry Lewandowski and Brady Johnson of HJ Sims, and Alanna Ellis and Timothy Hosmer of JLL Capital Markets’ Seniors Housing team originated the financing. The borrower was Trinity Community Development Foundation, a not-for-profit entity formed by Trinity Broadcasting Network. This transaction marked the start-up senior living enterprise’s entrance... Read More »Schedule a demo
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