Brookdale’s Still Lagging
After Brookdale Senior Living finally topped 80% in month-end occupancy in August, reaching 80.4%, the company reported 80.5% in month-end occupancy for September, indicating weaker momentum going into Q4 compared to prior years. We said improvements would need to be maintained through Q4 to head into the winter/flu season in a strong position. So far, the company is, unfortunately, only maintaining, with just a 10 basis point increase from August to September. Brookdale also reported a Q3 average occupancy of 78.9%. Yes, this is an 80-basis point increase quarter over quarter and a 130-basis point increase year over year, but it is typical to see senior living occupancy grow the... Read More »
Live Oak Closes Three Bridge Loans
Live Oak Bank has been actively lending this Fall, so far, announcing three closings in recent weeks. The bank first closed a $13.5 million bridge loan for Bakerson Companies. The bridge-to-agency loan features a three-year initial term and 24 months of interest-only payments. Loan proceeds were used to recapitalize part of the all-cash purchase of a 172-unit independent living, assisted living and memory care community earlier this year in the Charlotte, North Carolina MSA. Also in September, Live Oak closed a $47.5 million bridge loan for a Florida-based seniors housing owner. The loan provides bridge-to-sale financing and features a three-year initial term, 24 months of interest-only... Read More »
Investor Purchases Upstate New York ALP Portfolio
A portfolio of ALP (Assisted Living Program) communities sold in upstate New York, with Dave Balow of Senior Living Investment Brokerage handling the transaction. ALP properties serve those who are medically eligible for nursing home placement (and mostly are Medicaid recipients) but provide care for them in a less medically intensive, lower cost setting more similar to an assisted living community. So the state saves on the higher cost of a nursing home, and the provider earns a higher rate than a typical assisted living community. Win-win. The New York-based seller owns and operates assisted living communities in the downstate region, and divested all of its ALP assets in the... Read More »
Struggling Community Trades in Arkansas
Evans Senior Investments arranged the sale of a seniors housing community in Maumelle, Arkansas (Little Rock MSA). Built in 2007, Stonehaven Assisted Living comprises 60 assisted living units with both private pay and Medicaid residents. However, over the past year, the community faced some major difficulties. At the time of marketing, occupancy was just 53%, causing financial, staffing and other daily operational challenges. Recognizing the need for a change, the seller, a national healthcare system, chose to exit the market. A private company ultimately acquired the asset and partnered with a Midwest-based operator, marking its second investment in the state. The transaction was... Read More »
MONTICELLOAM Closes SNF Portfolio Financing
MONTICELLOAM, LLC, a specialized multifamily and seniors housing bridge lending platform, and its affiliates announced the closing of $59.25 million in bridge and working capital financing for a portfolio of skilled nursing facilities in the Chicago area of Illinois. Karina Davydov originated the loan, which carries a two-year term with two six-month extensions. A growing regional operator was the borrower and financed its acquisition of three skilled nursing facilities with more than 700 licensed beds. Proceeds from the $52.25 million bridge loan were used for the acquisition, while the $7.0 million working capital revolver will be used to support the day-to-day operations across the... Read More »Tucker Operating Company LLC Involved in M&A Activity Highlighted in LevinPro Database
Tucker Operating Company LLC 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 2165 Idlewood Rd in Tucker, GA. It was incorporated on June 16, 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 Tucker Operating Company LLC 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, or for information on... Read More »Lakeside Nursing and Rehabilitation Center May Be Involved in Mergers or Acquisitions in LevinPro Database
Lakeside Nursing and Rehabilitation Center has been linked to a merger or acquisition in the LevinPro M&A deal database. The Medicare-licensed facility is a not for profit skilled nursing facility situated at 8707 Lakeside Pkwy in San Antonio, TX. 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 Lakeside Nursing and Rehabilitation Center 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, or for... Read More »Tri State Health and Rehabilitation Center Joins Merger or Acquisition Wave in LevinPro Database
Tri State Health and Rehabilitation Center 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 600 Shawanee Road in Harrogate, Tennessee. 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 Tri State Health and Rehabilitation Center 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, or for information... Read More »Trinity Manor Involved in Merger or Acquisition in LevinPro Database
Trinity Manor 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 510 W Frontview St in Dodge City, KS. It was incorporated on May 22, 2012. LevinPro, which tracks M&A activity across more than a dozen healthcare sectors from hospitals and home health to medical real estate and biopharma, has profiled the transaction involving Trinity Manor 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, or for information on subscription... Read More »Treyburn Rehabilitation Center Listed in LevinPro Database
Treyburn Rehabilitation Center 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 2059 Torredge Road in Durham, NC. It was incorporated on October 31, 2016. 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 Treyburn Rehabilitation Center 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, or for... Read More »Schedule a demo
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