Inspired Healthcare Capital Acquires in Texas
JLL Capital Markets arranged the sale of a Class-A seniors housing community in San Marcos, Texas. The seller was a joint venture between Bow River Capital and Investcor, and the buyer was Inspired Healthcare Capital. Built in 2020, Sage Spring Senior Living comprises 90 units of assisted living and memory care. The community was stabilized at the time of sale. Jay Wagner, Rick Swartz, Aaron Rosenzweig and Dan Baker handled the transaction. Read More »
SLR Healthcare ABL Provides Financing
SLR Healthcare ABL provided a $3.0 million asset-based revolving credit facility to a skilled nursing operator based in the upper Midwest. The management team has a combined 40 years of long-term care experience. It recently took over the operations of three skilled nursing facilities that total 230 beds in Iowa. Proceeds of the loan were used to provide working capital to support growth initiatives which include development of a memory care unit and expansion of a behavioral health unit. Stacy Allen handled the transaction. No additional details were disclosed. Read More »
Northern Wisconsin Facility Changes Hands
Marcus & Millichap facilitated the sale of a skilled nursing facility in Northern Wisconsin. Aspen Health & Rehab is a skilled nursing facility featuring 86 beds in South Range, Wisconsin. Ray Giannini, Justin Knapp and Nick Stahler of Marcus & Millichap handled the transaction. No additional details were disclosed. Read More »
BHI Senior Living Secures Financing
Ziegler announced the closing of BHI Senior Living’s $32.0 million Series 2024AB bank loans. BHI is a faith-based not-for-profit organization that owns and operates 10 CCRCs across Indiana, Ohio and Michigan. The Series 2024AB bonds marks BHI’s eighth financing with Ziegler since 2000. BHI will finance two phases of new construction at Hoosier Village in Zionsville, Indiana. Hoosier intends to construct 20 independent living townhomes with 3,200 square feet each in two phases beginning spring 2024 and another in spring 2025 for a total of 40 units. BHI currently has a waitlist with over 400 households seeking an independent living unit in the community. Ziegler conducted a full bank search... Read More »
60 Seconds with Steve Monroe: What if Boomers Are Not the Disruptors?
How many times have you heard that the boomers will be major disruptors of the seniors housing sector, causing providers to rethink, and change, how they provide their care and services? Too many times? I admit, I have been guilty of this as well. But I have been thinking about this concept (I know, a scary thought), and now I have some doubts. What do seniors housing providers do? They provide housing, care, meals, and an environment for socialization, among other services, all in a safe setting. Since I am in the middle of the pack of boomers, I don’t see those services changing much. Tweaked? Of course. But the basics should always be there. Boomers are going to be very demanding, or so... Read More »
Public REIT Divests Two Georgia AL/MC Communities
Berkadia was engaged in the sale of two assisted living and memory care communities in the Atlanta, Georgia MSA. The communities are located in Atlanta and Marietta and total 146 units. The seller was a publicly traded REIT. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders handled the transaction. No additional details were disclosed. Read More »
Missouri-Based Provider Acquires SNF Portfolio (with HUD debt)
Blueprint was engaged by Birchwood Healthcare Partners, a Chicago-based private investor and owner/operator, in its sale of its eastern Oklahoma skilled nursing portfolio. The regionally clustered portfolio comprises seven facilities that total 561 beds. It benefited from the recent Medicaid rate increases and steady census rebounds. There was attractive assumable HUD debt on select facilities, and improved performance tracking towards historical highs. The marketing process resulted in multiple competing offers and rounds of bidding. Birchwood selected a familiar Missouri-based provider as the ultimate buyer. There were bifurcated closings upon final HUD approval for the loan... Read More »
CFG Secures Bridge-to-HUD Loan for Massachusetts SNF
Capital Funding Group announced the closing of a bridge-to-HUD loan totaling $9.75 million on behalf of a nationally recognized borrower. The loan supports the refinancing of a 123-bed skilled nursing facility in Massachusetts. Tim Eberhardt, Craig Casagrande and Ava Julio handled the transaction. This financing follows CFG’s announcement of the closing of a $36.2 million bridge-to-HUD loan that supported the refinancing of five skilled nursing facilities in North Carolina. The facilities total 522 beds. CFG refinanced an existing loan to include two additional underleveraged facilities on behalf of a nationally recognized borrower. Read More »
Joint Venture Acquires AL Community in Colorado
Ziegler was engaged by Bethesda Senior Living in its sale of a stabilized, well-performing assisted living community in Grand Junction, Colorado. Bethesda is divesting this non-core asset to focus on the growth of its mission. Cornerstone Management purchased the community in conjunction with a private real estate fund. Eric Johnson handled the transaction, noting that the largest hurdle to getting it closed was location, as the community sits outside the primary markets, which limited the buyer pool. Read More »
60 Seconds with Swett: M&A Activity Heats Up in May
We have said this before, but the seniors housing and care M&A market is on pace to record its best-ever year in terms of transaction activity, and by some margin. Already by this point in May, we are closing in on 250 transactions for the year, so far, which puts us on track for more than 600 publicly announced deals when we close out 2024. The split between skilled nursing and seniors housing activity followed historical norms, at 42% of the deals being for SNFs. And over $2.5 billion of transaction volume has been publicly disclosed, not including scores of deals with confidential prices, including large portfolios. How could volume be so high despite a challenging lending and... Read More »Schedule a demo
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