• Home Health vs. Assisted Living

    If people need care and full-time supervision, there is no cost comparison between assisted living and home health. Here’s a real life example. A friend recently asked for some advice (true story) about her 85-year old mother who was hospitalized, then went to a rehab facility, and then had the decision between moving back home or to an... Read More »
  • Genesis to be Delisted After Welltower Split

    When Genesis HealthCare announced last year that it may not make it in the following 12 months, you knew something had to be done. And then at the beginning of this year when its longstanding CEO, George Hager, departed, you knew that replacing one person with another was just not going to cut it. But perhaps it enabled the Board to... Read More »
  • SLIB Starts March With Six Closings

    What a month it has been for Senior Living Investment Brokerage, and it’s only been a few days. After a stellar start to February when the firm announced five transactions comprising eight seniors housing properties across the country, SLIB brokers announced six closings on the first two days of March. Four deals closed in the Southeast,... Read More »
  • A Holiday with Atria

    Last week, as part of its earnings release, New Senior Investment Group announced that Atria Senior Living would be taking over management of 21 independent living communities managed by Holiday Retirement Corporation. From a diversification perspective, this makes great sense for New Senior because Holiday had been... Read More »
  • Housing & Healthcare Finance Announces HUD Activity

    Housing & Healthcare Finance (HHC Finance) closed over $83 million in HUD loans during the month of February. The firm kicked off its activity with a $24 million loan for a large 280-bed skilled nursing facility in New Jersey. That was followed by two more HUD loans totaling $46 million closed for SNFs in Maryland and Illinois. Finally, HHC... Read More »
New Owner For New Pond Village

New Owner For New Pond Village

Benchmark Senior Living, the largest seniors housing provider in the Northeast, just added its fourth CCRC, and 54th overall location, to its impressive portfolio. In a partnership with investment firm Farallon Capital Management, Benchmark acquired New Pond Village, a 199-unit entrance-fee CCRC in Walpole, Massachusetts (Boston MSA), for an undisclosed price. Built in 1992, it currently features 167 independent living and 32 assisted living units. The 90-bed skilled nursing facility was split off from the community in the mid-1990s, but residents at the CCRC have a priority admissions agreement with the SNF. This transaction comes 13 years after the seller, The Shelter Group, originally... Read More »

Seniors Housing Portfolio in New England Sells For Top Price

Nine properties in three states sell for over $500,000 per unit, more than doubling in value in 10 years. Patient capital in seniors housing can certainly reap its rewards. Take the case of Boston-based Intercontinental Real Estate, which purchased nine senior living communities in New England from BayNorth Capital in 2005 for approximately $225,000 per unit. The one constant in the portfolio was Benchmark Senior Living, which was a minority co-investor with BayNorth and managed the portfolio. With the sale in 2005, they remained as the manager, and also stayed in as a co-investor. The portfolio has now been sold again, but for about $521,000 per unit. Individual properties have sold at a... Read More »