Bond Issuance Finances Massachusetts CCRC Expansion
MassDevelopment, Massachusetts’ development finance agency and land bank, issued $134.85 million of tax-exempt bonds on behalf of Lasell Village Inc., a not-for-profit corporation that was formed to establish and operate Lasell Village, an educational CCRC. Lasell Village was the nation’s first seniors housing community to require each resident to commit to a goal-oriented program of education. Located immediately adjacent to the campus of Lasell University, it offers an intergenerational environment. Lasell Village Inc. will use a portion of proceeds to renovate and expand the CCRC. The corporation will fund the purchase of 1.37 acres of land currently owned by Lasell University, where... Read More »
Tremper Capital Group Closes Refinance
Tremper Capital Group, which takes a team-based approach to its transactions, closed a $27.5 million floating rate refinance for a Class-A, 91-unit assisted living and memory care community with strong, stabilized performance. The non-recourse loan featured a seven-year term aligned with the sponsor’s business plan and included a performance-based earn-out. The structure met all of the sponsor’s financing objectives for the asset. The transaction introduced a new lending relationship between a local owner/operator and Live Oak Bank. Live Oak’s track record helped support execution certainty. This deal marked the third seniors housing loan TCG closed with Live Oak in June alone, and... Read More »
Distressed AL/MC Community Trades in Virginia
An institutional real estate investment and development firm engaged Blueprint to conduct a risk/reward analysis of making capital improvements versus divesting its seniors housing community in Richmond, Virginia. Built in 1999, the 99-unit distressed assisted living and memory care community was struggling to rebound from pandemic-era lows, and the fund’s investment horizon was approaching. The seller ultimately elected to divest the community, and in this process Blueprint highlighted the West End submarket’s demand fundamentals and the opportunity to add value through repositioning. Targeting buyer prospects with a presence and/or interest in Richmond, the marketing campaign... Read More »
Dwight Capital Finances Large Portfolio Acquisition
Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed a $230 million bridge loan to support the acquisition of a senior care portfolio. The portfolio comprises 19 assets spread throughout Ohio, and, together, they total 1,896 skilled nursing and assisted living beds. In conjunction with the bridge loan, Dwight Healthcare Funding provided a $12 million working capital line of credit to support the portfolio’s ongoing operational needs. The $230 million financing marks DMT’s largest bridge transaction to date. It was originated by Adam Offman, Managing Director of Healthcare Finance, and Yossi Benish, Vice President of Business Development. Read More »
Mid-Atlantic Seniors Housing Community Secures Refinancing
Steven Muth, Austin Sacco and Garrett Sacco of Berkadia Seniors Housing & Healthcare arranged up to $33.1 million in financing for a seniors housing community with more than 150 units in the Mid-Atlantic. The refinance included an initial loan of $28.1 million, providing over $8 million for unit upgrades and common area improvements. Additionally, Berkadia negotiated a $5 million earn-out, which could increase the total loan balance to $33.1 million upon achieving certain coverage metrics. There was significant interest in this loan request, with the financing ultimately being secured through a regional bank. Read More »
60 Seconds with Steve Monroe: What Do People Really Think?
In our Second Quarter 2025 investment webinar, moderator Ben Swett asked our audience of a few hundred what they thought about several important topics. Overwhelmingly, 82% of the attendees indicated they would rather buy than build in today’s market, which was surprising given two facts. One, the current inventory is aging and showing it, and two, with very little new development, when the new ones do open, they will have a commanding market presence and should be in high demand. On the labor front, 48% of the attendees thought scarcity of labor would be the most pressing issue moving forward, with 24% believing it will be the cost of labor. It was admitted, however, that scarcity will... Read More »
Publicly Traded Healthcare REIT Acquires in Minnesota
Lee & Associates’ Senior Housing team, led by Robert Black, represented a Scottsdale, Arizona-based developer in the sale of a Class-A seniors housing community in Saint Paul, Minnesota. Developed by the seller in 2019, the building features 101 independent living, assisted living and memory care units. There was strong interest in the asset, generating multiple competitive offers. A publicly traded healthcare REIT emerged as the ultimate buyer, acquiring the fully stabilized community for $28 million, or $277,200 per unit. Read More »
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 »Schedule a demo
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