60 Seconds with Swett: See You in San Diego
By the time many of you are watching this, we’ll be in San Diego at the NIC Spring Conference, ready to catch up with our industry friends and hopefully meet a few new dealmakers, too. If you see me or my colleagues Steph Mallozzi and Ryan Marszalek in the hallways, please feel free to say hi and give us your thoughts on the current M&A, financing and development markets, and we’ll give you our opinions too. But if you aren’t going or are stuck in meetings all day, every day, then you’ll have a chance to hear takeaways from the conference plus see our latest proprietary seniors housing and care valuation statistics by tuning into our March 12th webinar at 1pm ET. Panelists JP LoMonaco,... Read More »
Brookdale Closes Two Portfolio Acquisitions
Brookdale Senior Living announced the closing of two portfolio acquisitions, completing the three-portfolio, 41-property acquisition plan initially announced in September 2024. Through ownership of these communities, including the 11-property portfolio acquisition completed in December 2024, Brookdale is coming closer to its year-end goal of owning more than 75% of its consolidated unit count. In one deal, Brookdale acquired five communities (686 units) previously leased from Welltower for $175 million, or $255,100 per unit. Averaging around 25 years in age, the communities are primarily located in affluent or very affluent markets and together comprise 270 independent living units, 170... Read More »
Walker & Dunlop Closes Colorado Deal
Walker & Dunlop’s Gideon Orion, Tony Cassie and Sam Thompson recently facilitated the sale of a struggling, Class-A, 134-unit assisted living/memory care community in the Denver metro area. The community first opened in 2016, financed via Series 2017A and 2017B tax-exempt state bonds, and it is still among the newest senior living assets in its market. The seller, a regional not-for-profit CCRC owner/operator, took over management in late 2023 on an interim basis as part of a not-for-profit merger. They, along with the bondholders, exclusively engaged Walker & Dunlop for the deal team’s bond-financed and non-profit asset disposition experience, to execute the transaction for all... Read More »
Ensign Grows Again
The Ensign Group announced two separate transactions that closed on the same day involving several assets. First, Ensign acquired the real estate and operations of Citrus Heights Respiratory and Rehabilitation, a 204-bed skilled nursing facility, and Springdale Village Post Acute, a 122-bed skilled nursing facility, both in Mesa, Arizona. The real estate was acquired by a subsidiary of Standard Bearer Healthcare REIT, Inc. Ensign next acquired the real estate and operations of Polaris Extended Care and Polaris Transitional Care, a skilled nursing facility with 146 beds in Anchorage, Alaska; Horizon House, a 90-unit seniors housing community in Anchorage, Alaska; Mt. Angel Health and... Read More »
Oxford Finance Closes Major Credit Facility
Oxford Finance closed a $256.85 million senior credit facility for a client in California. Proceeds were primarily used to refinance four skilled nursing facilities featuring 356 total beds and acquire thirteen skilled nursing facilities with 1,451 total beds across the state. The acquired portfolio featured facilities built from the late 1960s to the late 1970s, with occupancy in the low- to mid-90s. They were previously owned by a third-party real estate owner and an owner/operator that was retiring. A regional owner/operator was the buyer and had a strong existing relationship with Oxford. The transaction closed just 20 days after term sheets were signed. Read More »
Carlton Senior Living Secures Fannie Mae Loan
Aron Will, Andrew Behrens, and Adam Mincberg originated a cash-out, $18.5 million, 10-year fixed loan through CBRE’s Fannie Mae DUS Lending Platform on behalf of Carlton Senior Living for Carlton Senior Living Pleasant Hill – Downtown. The refinance allowed Carlton to reconstitute its original joint venture ownership into a closely held Tenant-in-Common ownership structure. Originally built in 1997, the community features a total of 119 assisted living and 12 memory care units with 24 beds in Pleasant Hill, California. Carlton Senior Living has renovated the community since development. Following a renovation in 2024, the community demonstrated sustained operational performance... Read More »The Best M&A Data: 30 Years and Counting
When you need reliable statistics on the senior care M&A market, there is only one place to go. LevinPro LTC. I am happy to report that we have just published the 30th Edition of our Senior Care Acquisition Report, which covers the seniors housing continuum as well as skilled nursing. Here you will find key price per unit and bed stats, cap rates, NOI per unit, state-by-state valuation metrics and much, much more. This year, we had a record number of transactions from which to pull the necessary financial data to bring you the most comprehensive report ever. Not only is it comprehensive, but it is the only one in the industry available to investors, lenders and operators, as no... Read More »
Welltower Acquiring Amica Senior Lifestyles Portfolio
In the largest seniors housing transaction recorded since 2021, Welltower is purchasing a portfolio of 38 high-end seniors housing communities and nine entitled development parcels in Canada for aggregate consideration of C$4.6 billion, or US$ $3.185 billion. The seller was Ontario Teachers’ Pension Plan, which made its initial platform investment in Amica in 2010 alongside co-founders Douglas MacLatchy and Robert Ezer. The portfolio has grown to 24 stabilized, income-producing properties and seven recently opened properties still in lease up that are located in some of Canada’s most affluent markets in Toronto, Vancouver and Victoria. There is a continuum of care... Read More »
Publicly Traded REIT Acquires in Missouri
Senior Living Investment Brokerage facilitated the sale of a newly built seniors housing community in Springfield, Missouri. Built in 2021 and leased up quickly across all three acuity levels, Springhouse Village comprises 37 independent living, 62 assisted living and 32 memory care units across 15.6 acres. The community has had a consistent occupancy at more than 95%. The seller, an owner/operator and long-time client of SLIB’s, divested the asset to exit the seniors housing industry. The buyer, a publicly traded REIT with a significant seniors housing footprint, was selected after a competitive bidding process in which multiple competitive offers were secured. Jeff Binder and Nick... Read More »
Florida AL Community Secures Bridge Financing
Berkadia arranged $14.6 million in bridge financing for an assisted living community in New Port Richey, Florida. Managing Directors Ed Williams and Rafael Nobo of Berkadia Seniors Housing & Healthcare secured financing for a Florida-based sponsor and first-time client through Berkadia’s bridge lending program. The 12-month, interest-only loan was used to retire existing debt and return capital to the sponsor for future development. The community was built in 2020 and reached stabilized occupancy within 12 months of opening. Occupancy has remained at or above 95% since that point. Berkadia is expected to close the subsequent HUD refinance by the end of 2025. Read More »Schedule a demo
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