• Interview with Bryan Lockard of JLL Value and Risk Advisory

    Ben Swett, Managing Editor of The SeniorCare Investor, sat down with Bryan Lockard of JLL Value and Risk Advisory to discuss JLL’s 2024 Seniors Housing and Care Investor Survey and Trends, which you can download here. Read More »
  • Wow…Sonida Senior Living

    The last company in our sector, Sonida Senior Living, finally reported fourth quarter and full-year 2023 earnings, and while pretty good, that was not even the story. The story started four weeks ago. In February, the company announced a series of capital transactions which reduced their debt, raised some equity, and provided liquidity to take... Read More »
  • Marcus & Millichap Arranges SNF Leases

    After purchasing four senior care campuses in a large portfolio deal, a seniors housing owner/operator turned to Marcus & Millichap to find new tenants for the skilled nursing portions of each newly acquired campus. Each building was losing close to $1 million annually and had struggled with occupancy and expenses.  While the portfolio... Read More »
  • LSS Absorbs Diakon

    Two large not-for-profits announced that they were combining to create the 12th largest not-for-profit senior living organization in the country. Lutheran Senior Services, based in St. Louis, Missouri, signed an agreement to bring Diakon Senior Living operations and four CCRCs under its umbrella. Both organizations were described by Adam Marles,... Read More »
  • SNF Under Receivership Is Acquired in Kansas

    Marcus & Millichap was brought on by a limited liability company in the sale of a skilled nursing facility in Topeka, Kansas, that was under receivership. The facility, Providence Living Center, comprises 78 beds across 24,000 square feet and focuses on senior residents with mental health needs. Rod Llanos and Colby Haugness handled the... Read More »
Lancaster Pollard Secures Two Permanent Refinances

Lancaster Pollard Secures Two Permanent Refinances

Lancaster Pollard Mortgage Company closed two agency refinances of newly built senior care properties, retiring existing construction debt in both transactions. The first was arranged for a 106-bed skilled nursing facility in Warner Robins, Georgia that was built in 2015 and operated by Health Management, a middle-Georgia operating group. LP’s Conner Girdley arranged the $9.4 million loan through HUD. Then, in Cypress, Texas, Scott Blount, Doug Harper and Casey Moore led the way on a $14.6 million Fannie Mae refinance on behalf of a senior living community owned by Avanti Senior Living and Iron Point Partners. Also built in 2015 at a cost of $15 million, the property consists of 50... Read More »

Aron Will and Avanti Senior Living

Plans for an Avanti Senior Living community in Covington, Louisiana (New Orleans MSA) have been in the works for several years. Now, it is one step closer, with Aron Will of CBRE arranging a $14 million construction loan to fund the project. A regional bank provided the financing, which features a four year, floating rate term and 48 months of interest only. Avanti is developing the project in a joint venture with Iron Point Partners, an investment manager that manages several real estate private equity funds. Designed with the local style in mind, the planned community will resemble a large manor house, featuring 60 assisted living units and 50 memory care units. Adding to its appeal, the... Read More »

Avanti continues its growth

A relatively new developer in seniors housing, but founded by owners (Lori Alford and Tim Hekker) with plenty of experience in the industry, Avanti Senior Living is continuing its development pipeline, announcing its next project in Covington, Louisiana. Designed with the local style in mind, the planned community will resemble a large manor house, featuring 60 assisted living units and 50 memory care units. Rents will begin at $3,800 per month and go up based on care levels. At a development cost of $21 million, or 190,900 per unit, the community is on the higher end in terms of cost (the average for AL/MC new construction projects in the Southeast, excluding Florida, is approximately... Read More »

RED funds Avanti’s growth

Avanti Senior Living, which is developing five senior living communities in the Southeast (three in Texas and two in Louisiana) turned to RED Capital Partners to help fuel its construction pipeline, receiving a second $13.8 million balance sheet construction loan to build a 90-unit assisted living/memory care community in Flower Mound, Texas. The community will feature 50 units of assisted living and 40 units devoted to memory care, and represents Avanti’s third project to break ground under its joint venture with an affiliate of real estate fund manager, Iron Point Partners. Last December, RED also arranged a $13.5 million balance sheet construction loan for Avanti to construct a 90-unit... Read More »

Experienced providers get into the assisted living/memory care development market

Newcomer Avanti Senior Living is set to open its first two senior living communities in 2015, with one in Cypress, Texas and the other in The Woodlands, Texas. These two communities, both in the Houston metro area, are the first to come in Avanti’s development pipeline of seven total properties (so far) in Texas and Louisiana. While other developers out there certainly have more properties coming down the pike than this newcomer (especially in Texas), Avanti still stands out among its competitors. Co-founders Tim Hekker (who is also the CEO) and Lori Alford (COO) combined bring over 50 years of experience in the operating world of senior care and a unique perspective to the development of... Read More »