Fairview Secures Bond Anticipation Notes
Ziegler announced the closing of Fairview’s $7.5 million Series 2025A bond anticipation notes (BANs) through the Connecticut Health and Education Facilities Authority. Not-for-profit Fairview has a 70-acre campus on the Groton, Connecticut waterfront, and it features several facilities providing rehabilitation services and options for independent living. Fairview currently has 164 total units consisting of 100 skilled nursing beds and 64 independent living beds. The BANs will be used to fund predevelopment costs for a campus repositioning project with the objective of transforming the current healthcare-oriented campus into a more modern and sustainable CCRC model. As part of the... Read More »
Not-For-Profit Secures Bond Financing
Ziegler announced its closing of $230.25 million of Series 2025 bonds for a Texas not-for-profit organization, Bella Vida Forefront Living (formerly known as Bella Vida at La Cantera Forefront Living). The proceeds will be used, together with other available funds, for the purpose of financing and refinancing the cost of acquiring, developing and constructing a new retirement community, including the refinancing of Bella Vida’s outstanding Series 2023 bond anticipation notes. They will also be used to fund a debt service reserve fund, fund capitalized interest through March 1, 2027, and pay costs of issuance of the Series 2025 bonds. Forefront Living, a Texas not-for-profit organization,... Read More »
Financing for Covenant Living Communities and Services
The Colorado Health Facilities Authority plans to issue $148.6 million of bonds to pay for certain costs linked to long-term care facilities operated by Illinois-based not-for-profit organization Covenant Living Communities and Services. Covenant operates a continuing care system of retirement communities, assisted living communities and skilled nursing facilities on behalf of the Board of Benevolence of The Evangelical Covenant Church. The authority will loan the proceeds from the Series 2025A revenue bonds to Covenant, which will use them for the payment of the costs of acquiring, constructing, remodeling, renovating and equipping long-term care facilities. The proceeds will also be used... Read More »
Sabra’s CIO Retires
Sabra Health Care REIT announced that Talya Nevo-Hacohen, Sabra’s Chief Investment Officer, Treasurer and Executive Vice President, will be retiring effective December 31. Nevo-Hacohen helped build Sabra into a $6.5 billion enterprise with 399 investments from a newly formed REIT with 86 properties leased to a single tenant. Nevo-Hacohen is expected to remain in a consulting role with Sabra pursuant to a two-year consulting arrangement. Darrin Smith, Sabra’s Executive Vice President, Investments, is expected to take on the role of Sabra’s CIO effective January 1, 2026. Smith has over 30 years of real estate experience, and has been with Sabra for five years. A seamless transition is... Read More »
Vacant Texas AL/SNF Community Trades Hands
Amy Sitzman and Giancarlo Riso of Blueprint were engaged by a repeat client in the divestment of its vacant senior care community in Waco, Texas. Last operated in 2018, the community closed due to the prior operator’s inability to service above-market rent payments. Built in 2015, the community comprises 106 assisted living units and skilled nursing beds and was well maintained by ownership. It sits on 6.7 acres, directly adjacent to Baylor Scott & White Medical Center – Hillcrest, the leading acute care provider in Waco. Blueprint advised the seller to move forward with a highly competitive all-cash offer that was submitted by a leading provider of transitional skilled... Read More »
Bob Jones University Divests AL/MC Community to Joint Venture
Dan Geraghty and Brad Clousing of Senior Living Investment Brokerage facilitated the sale of a seniors housing community in Greenville, South Carolina, on behalf of Bob Jones University. BJU is exiting the business to focus on its core values. With a solid long-term foundation of financial performance, the asset offers an opportunity to capitalize on existing cash flow with potential for profitability enhancement. Built in 1927 with renovations completed between 1960 and 2014, Shepherd’s Care Assisted Living and Memory Care Community sits on 5.7 acres with 60 units across 65,762 square feet. The community was 88% occupied at the time of sale. After reviewing several offers, the... Read More »
Cougar Capital Management Acquires in Tennessee
Berkadia sold the final property in a 16-property seniors housing portfolio, completed through 11 separate transactions over the past 12 months. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders represented the publicly traded REIT seller. The portfolio comprised 16 assisted living and memory care communities, totaled over 1,200 units and spanned nine states. Eight buyers, primarily regional or local owner/operators, acquired the properties within the portfolio. The final property, an 86-unit AL/MC community in the Knoxville, Tennessee MSA, was purchased by Cougar Capital Management. Read More »
Regional Provider Purchases in Michigan
Michael Segal and Daniel Waldhorn of Blueprint were engaged by a Michigan-based owner/operator to facilitate the off-market sale of two of its skilled nursing facilities in Michigan. The facilities were deemed geographic outliers, motivating the seller to shift focus to its holdings in metro Detroit and the greater Saginaw submarkets. The sale included 110-bed Aria Nursing & Rehabilitation in Lansing and 82-bed Allegra Nursing & Rehab Center in Jackson. At the time of sale, both facilities were generating positive cash flow with combined census and quality payor mix above 80% and 30%, respectively. Blueprint approached a limited number of potential buyers, procuring an... Read More »
Focus Healthcare Partners Secures Acquisition Financing
BMO’s Healthcare Real Estate Finance group closed on a $36.25 million facility for Focus Healthcare Partners to finance the acquisition of a seniors housing community in Bethesda, Maryland. Focus will bring on Solera Senior Living to manage the community. Built in 2019, Brightview Bethesda Woodmont comprises 92 assisted living and 21 memory care units and will be rebranded as Modena Reserve at Bethesda. Occupancy was around 86% when Focus acquired the community. Newmark handled this transaction and arranged the five-year acquisition financing, with a three-year interest-only period, from BMO. Read More »
60 Seconds with Swett: Loneliness, Health and the Active Adult Opportunity
We came across a recent survey by U.S. News & World Report that interviewed seniors who moved into either independent living, assisted living or memory care in the last two years, trying to gather how seniors experience social connection within their communities and also how they gauged their loneliness and health trajectories leading up to their move. To no one’s surprise, the percent of seniors who felt lonely a majority of the time dropped from 69% before the move to seniors housing to 42% afterwards, still a large share, unfortunately. A smaller percentage reported taking part in more activities, more physical activity or finding meaning or purpose in daily life more often after... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
