• Newmark Closes Class-A Deal in Denver

    by | Apr 24, 2024 8:44 am | Acquisitions

    A new seniors housing community traded in the Denver, Colorado MSA, with the help of the team at Newmark. Developed in 2017, MorningStar at RidgeGate is located in the suburb of Lone Tree within the Ridgegate master plan that features retail, cultural amenities and a 284-bed hospital nearby. The property comprises five stories over subterranean... Read More »

  • Public REIT Purchases Texas Class-A Seniors Housing

    by | Apr 23, 2024 3:56 pm | Acquisitions

    Blueprint was engaged in the divestment of a Class-A seniors housing community in San Antonio, Texas. Built in two phases in 2011 and 2017, Franklin Park TPC Parkway comprises 269 independent living, assisted living and memory care units. Following the completion of a six-year freeway expansion project that affected leasing, access to the... Read More »

  • Eads Sells Its 24th & 25th Missouri Community

    by | Apr 23, 2024 3:54 pm | Acquisitions

    Patrick Byrne of Eads Investment Brokerage facilitated the divestment of two seniors housing communities in Missouri. This marks the 24th and 25th communities sold in Missouri for Eads. The Moberly community (which we believe to be Mark Twain Assisted Living) comprises 35 assisted living/independent living units and sold for $2.57 million, or... Read More »

  • 60 Seconds with Swett: CMS Raises the Minimum Staffing Mandate

    by | Apr 23, 2024 3:48 pm | 60 Seconds

    On Monday, CMS came out with its final minimum staffing standards for nursing homes, but the eventual outcome is anything but final. Despite the outcry from nursing home providers from the previous proposed mandate of three hours per resident per day, asking simple questions like how can we pay for this and where will this newly needed staff come... Read More »

  • More Shareholder Activism

    by | Apr 22, 2024 9:04 am | Opinion

    Fresh from its success in getting two people voted onto the Ventas Board of Directors, Land & Buildings is at it again, this time with National Health Investors. Like all the REITs, NHI’s managers and tenants had their share of problems during the pandemic. Who didn’t? Most of these issues are behind it, but the REIT could be in even stronger... Read More »
Avison Young Aces Alexandria Acquisition

Avison Young Aces Alexandria Acquisition

by | Mar 6, 2018 4:13 pm | Acquisitions

Jim Kornick and Dan Baker of Avison Young led a successful bidding process for a 130-bed skilled nursing facility in Alexandria, Virginia, generating 12 offers and closing at $13 million, or $1 million over the original asking price. Only operating with 100 beds, the facility was owned and operated by a local family who had originally developed it 40 years ago. Located next to a major hospital, it had a history of good operations and had a high quality mix, with 47% Medicare, 25% private pay and 28% Medicaid on 80% occupancy. However, expenses recently ran high, and the facility was losing money as of closing. The buyer, a publicly traded REIT, will look to immediately improve the... Read More »

People on the move, November 2015

by | Dec 4, 2015 8:32 am | Opinion

Clearly in the holiday spirit, several companies have recently announced new hires or promotions. First, REDICO, a real estate development and investment company, promoted Samantha Eckhout to VP of Development and Tim McCafferty to VP of Construction. Both have backgrounds as project managers for REDICO, which is working on building its development pipeline. Next up, HFF hired Peter Rotchford as director of its New York office. Coming from Avison Young, Mr. Rotchford will be focused on fixed- and floating-rate debt and equity placement transactions. Finally, Lancaster Pollard promoted both Robert Baxter and Ryan Miles to senior vice president. Mr. Baxter has been with the firm since 2005,... Read More »