• Diversified Healthcare Trust Raises Expensive Debt, Ventas Makes Cuts

    Diversified Healthcare Trust Raises Debt Diversified Healthcare Trust tapped the debt markets with a $1.0 billion, five-year senior note offering with a yield of 9.75%. That puts the spread over the 5-year Treasury at about 940 basis points. That has to be the widest spread by a healthcare REIT we have seen in years, if not a decade or two.... Read More »
  • Carnegie Capital Announces Latest Closings

    JD Stettin of Carnegie Capital has certainly had his hands full recently, having closed a couple of refinances in the Pacific Northwest, no easy task in the early days of COVID-19, we’re sure.   Mr. Stettin first sourced and structured a cash-out refinance of a 60-unit memory care community near Eugene, Oregon. Featuring a roughly 50-50 mix of... Read More »
  • PGIM Refinances Tennessee Senior Living Community

    PGIM Real Estate announced its latest transaction, with Executive Director Chris Fenton leading the way. It involved a $10.6 million HUD refinance of a senior living community in Ashland City, Tennessee. Built in 2015 with 100 beds in 80 units, the community provides assisted living and memory care services in a four-story building.   Thunderhawk... Read More »
  • Greystone Arranges HUD Construction Debt

    Working through HUD, Lisa Fischman of Greystone facilitated construction financing for an assisted living community to expand its Buffalo, New York-area campus. Originally built in 2003 with 110 beds in 84 units, the community is located on a 20-acre campus. Onsite amenities including a theater, physician’s office and beauty salon certainly... Read More »
  • Genesis HealthCare’s Shares Double in Value

    Leading up to Genesis HealthCare’s first quarter earnings release and conference call, the company’s share price took off. The rise started on May 22 when it jumped by 22% on high volume, but then it added another 35% on volume that was 10 times the average. In the course of four days, the price more than doubled, from $0.63 per share to $1.37... 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 »