• National Lending Group Divests in Wisconsin

    by | Apr 25, 2024 3:31 pm | Acquisitions

    Justin Knapp, Nick Stahler and Ray Giannini of Marcus & Millichap recently closed the receivership sale of an 86-bed skilled nursing facility in Wisconsin. The Knapp-Stahler Group represented the seller, a national lending group that also provided financing for the deal.  The borrower/buyer was a local operator with ties to an East... Read More »

  • CFG Secures Bridge-to-HUD Loan for Ohio Skilled Nursing Facility

    by | Apr 25, 2024 3:30 pm | Financings

    Capital Funding Group secured financing for a skilled nursing facility in Ohio on behalf of a nationally recognized borrower. The bridge-to-HUD loan totals $13.5 million and supports the refinancing of this 120-bed SNF. Tim Eberhardt and Ava Julio of CFG originated the transaction.  This financing follows CFG’s closing of two HUD loans on... Read More »

  • CBRE Secures Financing For Class-A Seniors Housing Community

    by | Apr 25, 2024 3:29 pm | Financings

    CBRE secured financing for a Class-A seniors housing community in North Dakota on behalf of a joint venture borrower. Built in 2017, New Perspective West Fargo is in Fargo, one mile from Sanford Medical Center, North Dakota’s newest and largest medical center. The community features 128 independent living, assisted living and memory care units... Read More »

  • PCP Purchases Ohio Assisted Living Community

    by | Apr 25, 2024 3:27 pm | Acquisitions

    Phorcys Capital Partners LLC, the investment advisor to Phorcys Senior Housing Recovery Fund LP (SHRF), announced it acquired a seniors housing community in Wickliffe, Ohio, through a trustee-directed short sale for $13.0 million, or $81,000 per unit. This is PCP’s second investment in SHRF, and it will continue to focus on the winding down of... Read More »

  • 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 »
Welltower Makes Major M&A Moves

Welltower Makes Major M&A Moves

by | Aug 2, 2019 6:02 am | Acquisitions

Welltower made M&A waves in its latest earnings report, announcing a major disposition of its Benchmark Senior Living assets but countering that with several large acquisitions and development agreements. The company signaled that despite the Benchmark sale, it is not lowering its position in the senior living market, offsetting the 48 properties sold with a total of 46 acquired, not including the developments promised in a couple of massive pipeline agreements. The big news was the Benchmark sale, which consisted of all 48 assisted living properties and 4,137 total units located throughout New England, or 100% of the Welltower-owned portfolio. The transaction was structured as a... Read More »
New Owner For New Pond Village

New Owner For New Pond Village

by | May 16, 2017 8:17 pm | Acquisitions

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

by | Jan 27, 2015 5:30 pm | 60 Seconds, Acquisitions, Opinion

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 »