Activists Are Knocking On Brookdale’s Door
Not to toot our own horn (sorry), but very recently we predicted that Brookdale Senior Living’s growing percentage of owned properties would attract activist investors yet again. That, and the continued poor performance of its share price. It has now happened, again. Ortelius Advisors, which controls approximately 1.3% of Brookdale’s common stock, announced a slate of candidates for the Board that it will propose at Brookdale’s annual meeting later this year. Ortelius, like many other investors, has grown tired of the unfulfilled promises made and slow turnaround at the company, especially compared with the rest of the industry. The slate being proposed by Ortelius includes six... Read More »
Ziegler Handles Christian Horizons’ Portfolio Divestment
Ziegler announced its role as exclusive sell-side financial advisor to Midwest Christian Villages (doing business as Christian Horizons) in the sale of its senior living and care portfolio pursuant to Section 363 of the U.S. Bankruptcy Code. The sale of substantially all the company’s assets closed in multiple transactions on or before February 28th, 2025. Nick Glaisner handled the transaction. Christian Horizons was one of the nation’s largest not-for-profit, faith-based organizations and offered a comprehensive continuum of care that included over 1,200 independent living, assisted living, memory care, and skilled nursing units/beds. The organization served older adults in Illinois,... Read More »
Blueprint’s Recent Activity
Blueprint recently closed three transactions involving skilled nursing facilities. First, a legacy owner/operator engaged Connor Doherty and Ryan Kelly of Blueprint to facilitate the sale of a skilled nursing facility in Dayton, Ohio. Grafton Oaks comprises 99 beds and was cash flow negative at the time of sale. The seller was divesting their only asset to retire from the industry. Blueprint targeted a select group of well-capitalized investors and regional operators with a strong understanding of skilled nursing operations and Ohio regulatory considerations. Multiple groups expressed interest with the ultimate buyer being an owner looking to expand its presence in Southwest Ohio. The... Read More »
Ikaria Formalizing CareTrust REIT Relationship
Newly formed Ikaria Capital Group is formalizing an arrangement with CareTrust REIT to provide capital to the seniors housing and nursing home sector. The Ikaria team, which is led by White Oak Healthcare Partners alums Jason Dopoulos and Ken Gould, has worked with CareTrust on several debt transactions since 2022, and this marks a continuation of that relationship. The Ikaria team will also continue to provide debt origination, underwriting, and asset management services. CareTrust’s investment priority will still be on acquiring real estate through accretive transactions but will look to add to its debt investments, which can offer attractive yields. The REIT closed approximately... Read More »
Roers Companies Secures Financing
JLL Capital Markets secured a $42.9 million bridge loan refinancing to take out the construction loan for a seniors housing community in St. Louis Park, Minnesota. Scott Loving, Scott Streiff, Gary Marchiori and William Hintz of JLL worked on behalf of the borrower, Roers Companies, in arranging the 2.5-year, floating-rate refinance. Built in 2023, Risor of St. Louis Park comprises 170 units across six stories. Of the 170 units, 18 are affordable seniors housing units, while the remainder are active adult units. The unit mix consists of studios, one-, two- and three-bedroom layouts. The community is situated in one of the most affluent suburbs in the metro, with an average household income... Read More »
Staten Island SNF Secures Financing
MONTICELLOAM announced the financing of a $25 million mezzanine loan for a skilled nursing facility in Staten Island, New York. The sponsorship group, a longstanding MONTICELLOAM client, has an existing footprint with a portfolio spanning the East Coast. The loan proceeds will be used to recapitalize the existing equity in the 300-bed facility. Read More »Estes Family Trusts Lead Alabama Skilled Nursing Market Through NHS Management
Jennifer Lee Estes Tr 031093 and James Norman Estes Jr Tr jointly lead Alabama’s skilled nursing facility sector with 30 facilities each, according to the most recent Centers for Medicare & Medicaid Services (CMS) data from January 2025. These related trusts share ownership interests in 45 facilities across four states, with Alabama representing their strongest market presence. The Estes family operates these facilities through NHS Management, LLC, a company led by J. Norman Estes as President and CEO. Ownership Structure and Portfolio Distribution The Estes trusts maintain primarily indirect ownership stakes in their facilities, with Jennifer Lee Estes Tr 031093 holding 6.25%... Read More »Pacs Group, Inc.: California’s Dominant Skilled Nursing Provider
Pacs Group, Inc. has established itself as the dominant player in California’s skilled nursing facility (SNF) landscape, operating 118 facilities across the state according to the most recent CMS data from January 2025. Beyond California, the company has strategically expanded into eight additional states, with significant presence in Colorado and South Carolina (19 facilities each), and smaller footprints in Kentucky (7), Ohio (6), Arizona (4), Nevada (4), Missouri (2), and Texas (2). Founded in 2013, Pacs Group has grown into one of the largest post-acute care platforms in the United States, now serving over 22,000 patients daily across 218 healthcare facilities with approximately... Read More »Estes Trust Leads Alabama Skilled Nursing Market with Multi-State Portfolio
The James Norman Estes Jr Trust is Alabama’s leading skilled nursing facility owner with 30 facilities in the state, according to the most recent Centers for Medicare & Medicaid Services (CMS) data from January 2025 . The trust’s influence extends beyond Alabama, with additional facilities in Arkansas (5), Florida (5), and Missouri (5), bringing its total portfolio to 45 skilled nursing properties. This summary examines the trust’s ownership structure, market position, leadership connections, and the regulatory environment affecting its operations. Ownership Structure and Portfolio The trust maintains minority ownership stakes in its facilities, typically holding... Read More »
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 »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
