• Genesis HealthCare’s Legacy Liabilities Lead to Bankruptcy Filing

    Genesis HealthCare has filed for Chapter 11 bankruptcy protection, listing its 298 affiliated holding companies, ancillary businesses and insurance vehicles in its submission to the U.S. Bankruptcy Court for the Northern District of Texas Dallas Division. It is one of the largest skilled nursing operators in the country and operates 218... Read More »
  • Cindat Capital Management Invests in Colorado Community

    Cindat Capital Management, a middle-market real estate private equity platform focused on seniors housing and opportunistic investments, announced its first investment from its Senior Housing Credit Platform. It was a unitranche debt investment in The Pearl at Boulder Creak, a 116-unit, Class-A independent living and assisted living community... Read More »
  • MedCore Divests to Publicly Traded Healthcare REIT

    Ziegler announced its role as exclusive sell-side financial advisor to MedCore on the sale of Parkview on Hollybrook, a 189-unit rental CCRC in Longview, Texas. The property has been on a long road to stabilization. It was originally bought in a bankruptcy auction in 2016 for $20.7 million by Thrive FP when it was in the middle of development. 12... Read More »
  • Forbright Bank’s H1 Activity

    Forbright Bank reported its activity for the first half of the year from its healthcare and HUD lending teams, announcing more than $500 million in loans closed for acquisitions, recapitalizations, working capital, and HUD financings for healthcare providers across the country. One of the largest transactions was a $60 million revolving loan to... Read More »
  • Large SNF Portfolio Secures Financing

    MONTICELLOAM, LLC announced the closing of $218.3 million in combined bridge, mezzanine, and working capital financing for 18 skilled nursing facilities across Kentucky. The transaction includes a $179.3 million senior bridge loan and a $29 million mezzanine loan, which the sponsor plans to use to restructure and upsize the existing debt on the... Read More »
Belmont Village Teams With Blue Moon Capital

Belmont Village Teams With Blue Moon Capital

Belmont Village Senior Living and Blue Moon Capital Partners are teaming up for their first ground-up construction project together, albeit their third venture overall, with a planned 157-unit assisted living/memory care community in Aliso Viejo, California. A master planned community located in the San Joaquin Hills of southern Orange County, Aliso Viejo boasts high home values and high incomes, which should help to fill the luxury community. Featuring both studio and one-bedroom units, the community also comes with a town hall, fitness center, salon and heated salt-water pool. Upon completion in 2018, Belmont Village will operate the community. To fund the project, the venture turned to... Read More »

Where There’s a Will, There’s a Way…To Construction Financing

Aron Will of CBRE brought together a joint venture between Harrison Street Real Estate Capital and Belmont Village Senior Living, and a national bank to arrange construction financing for the development of a brand-new assisted living/memory care community in Lincoln Park, Illinois. The project got its start in 2016, when Cain Brothers arranged the sale of a property adjacent to the former Children’s Memorial Hospital campus, which is currently undergoing a $350 million redevelopment run by McCaffery Interests and Hines Interests. The massive project will include 540 apartments in two 11-story buildings, 60 luxury condos and 162,000 square feet of retail space. Across the street, however,... Read More »
Home Health Care vs. Seniors Housing

Home Health Care vs. Seniors Housing

We are faced with a question that affects, and will affect, a senior’s choice in care. When is care at home both appropriate and cost effective, and at what point is it time to move into seniors housing? On January 19th, we hosted a webinar called “Home Health vs. Seniors Housing,” where a panel including moderator Steve Monroe of The SeniorCare Investor, Rita Altman of Sunrise Senior Living, William Dombi of The National Association of Home Care & Hospice and Debbie Reilly of Belmont Village Senior Living discussed the competing and complementary roles these two levels of care provide in the health care continuum. If you are interested in hearing the conversation, here’s the 90-minute... Read More »

Blue Moon pays up out West

We discuss in the July issue of The SeniorCare Investor the lack of high-valued transactions in June (and for the rest of the year), but one notable exception was Blue Moon Capital Partners’ acquisition of two assisted living communities in high barrier-to-entry markets in California. Belmont Village Senior Living developed the two assisted living/memory care properties in Thousand Oaks, California and Scottsdale, Arizona. Built in 2011 and 2012, respectively, the communities were close to full occupancy by the time of the sale. Blue Moon Capital Partners, which matches institutional capital investors with seniors housing operators, was the buyer, with Belmont Village owning a minority... Read More »

Belmont Village Senior Living opens 23rd community—its first in Austin

Residents have begun moving into Belmont Village West Lake Hills, a 141-unit assisted living and memory-care community on a 13-acre site in suburban Austin, Texas. The new community has 115 studio and one-bedroom apartments for individuals needing various levels of assisted care and a 26-unit memory-care neighborhood for those with significant cognitive decline. Rents start at $4,500 per month; amenities and services include chef-prepared meals with more than two dozen menu choices, a bistro for casual dining, housekeeping services, daily transportation, a fitness center with wellness programs and therapy services, a saltwater swimming pool, a full-service salon, a technology center, and... Read More »