• 60 Seconds with Swett: M&A Activity Tops 350 Deals in H1:25

    In the second quarter of 2025, there were 176 publicly announced transactions, a preliminary number that is almost certain to increase in the weeks ahead. That brings our total for the first half of the year to 355 deals, or 710 on an annualized basis. Considering we finished 2024 with 716 total deals, which was a record by far, we are in a good... Read More »
  • Bloom Exits South Carolina’s Seniors Housing Market

    Kandu Capital, LLC, and its operating company, Bloom Senior Living, collectively known as Bloom, sold its final seniors housing community in South Carolina. The company is seeking realignment as it exits the state after a decade-long presence in the region. The 129-unit independent living and memory care community, which is in Bluffton, sold for... Read More »
  • Improving Ohio SNF Sees Strong Price

    Ryan Saul of Senior Living Investment Brokerage secured a strong price for a skilled nursing facility in Cincinnati, Ohio. Built in 1965, the facility was originally licensed for 199 beds, but the decision was made to strategically reduce the beds to 167 to save on provider tax and improve the Medicaid rate.  The facility struggled for many... Read More »
  • Stacked Stone Ventures Makes Major SNF Acquisition

    Stacked Stone Ventures, a real estate investment firm founded by Kent Eikanas, has made a major acquisition in the skilled nursing sector, acquiring nine skilled nursing facilities for approximately $33 million, or $66,000 per bed, at a 13% cap rate. Stacked Stone bought the portfolio in a joint venture with Praxis Capital from a large... Read More »
  • Tremper Capital Group Announces Two Refinances

    Tremper Capital Group announced a couple of refinances at the end of the second quarter for seniors housing clients. The first was arranged on behalf of Kisco Senior Living for its 333-unit entrance-fee CCRC in Palm Beach Gardens, Florida. Built in 2004, the campus was acquired by Kisco as part of a larger CCRC deal in 2013, and since then it... Read More »
40-Year Old SNFs: Obsolete or an Opportunity?

40-Year Old SNFs: Obsolete or an Opportunity?

The aging of the skilled nursing industry is becoming a growing concern for investors in that space. Facilities built 40 years ago and over comprise a significant portion of the skilled nursing beds in the country, and many believe they are outdated and would require too much capex to modernize and attract the Medicare and private pay populations. Nevertheless, plenty of buyers still see opportunity. But what do they see that others don’t? That is the question we tried to answer in our webinar entitled, “The 40-Year Old SNF: Part II,” a sequel to our 2016 discussion. Our Editor, Steve Monroe, was the moderator, joined by Alan Plush of HealthTrust, Chad Buchanan of Tryko Partners and Andrew... Read More »
Vacancy in Dade City

Vacancy in Dade City

Birchwood Health Care Properties just added the 21st property to its seniors housing portfolio, but with one catch: the community is vacant. Located in Dade City, Florida (about 30 miles inland between Tampa and Orlando), the target was originally built as a hotel and converted to include 230 units of seniors housing. As recently as early 2015, it served over 200 residents but ran into clinical and operational challenges under its previous management. So in comes Birchwood, which along with operator Priority Life Care will invest $750,000 in renovations. Plus, pre-marketing and construction planning was initiated well before this transaction’s closing in early January in anticipation of a... Read More »
A team effort

A team effort

We wrote in the August issue of The SeniorCare Investor of Birchwood Health Care Properties’ acquisition of four skilled nursing facilities and a hospice care and home health company in Oklahoma, and that HJ Sims had financed a $5.25 million subordinate loan to fund the deal. Now, RED Capital Partners has just announced that it closed a $12.7 million balance sheet acquisition loan for Birchwood’s take-over of the 361-bed portfolio. The transaction was unique, in that the ancillary home health and hospice business provided credit support for the bridge-to-HUD loan. Read More »

Legacy in Montgomery

Already the second deal closed in the Montgomery, Alabama area in recent weeks (following Birchwood Health Care Properties’ purchase of a 64-unit memory care community for $4.75 million), Legacy Senior Living spent $3.3 million, or $113,793 per unit, to acquire a 29-unit memory care community in Prattville. Built in 1999 with an addition in 2005, the property was 94% occupied and operated at a 23% margin on approximately $1.3 million of revenues. Plus, with limited competition in the area and a consistently high census, there is an expansion opportunity. Mike Pardoll of Marcus & Millichap represented the seller, a group of private investors, in the transaction. Read More »

Trio of transactions

The Healthcare Lending group of Congressional Bank recently announced that it closed three separate transactions (with five loans) totaling $11.6 million, which all helped facilitate acquisitions for the borrowers. First, Congressional provided a $3 million bridge-to-HUD loan and a $1.5 million revolving line of credit, both with three year terms, to fund the purchase and ongoing capital needs of a 107-bed skilled nursing facility in New Bedford, Massachusetts. The buyer, a regional owner/operator, paid $3.21 million for the 40-year old facility, which was losing money and was 82% occupied. Second, Birchwood Health Care Properties received a $2.6 million bridge-to-HUD loan and a $500,000... Read More »