• Community First Solutions Acquires Again in Ohio

    Ziegler was engaged by Marquee Capital, the real estate company affiliated with Marcus Investments, LLC, the Marcus’ family office, in the sale of its seniors housing community in Mason, Ohio. Built in 2020, BrightStar Senior Living of Mason sits on 3.2 acres with 41 assisted living and memory care units. The community was well occupied at 90%,... Read More »
  • Joint Venture Acquires Nashville Active Adult Community

    An active adult community in Germantown, Tennessee, found a new owner thanks to the team at Newmark. Built in 2020, Avenida Watermarq is a 161-unit, Class-A active adult community in an affluent suburb of Nashville. There are one- and two-bedroom options averaging 919 square feet per unit. Occupancy was 87%. Inspired Real Estate Partners and GEM... Read More »
  • Institutional Owner Divests Ohio Facility

    Evans Senior Investments arranged the sale of a skilled nursing facility in Ohio on behalf of an institutional owner looking to exit the market. The facility comprises 88 beds and 20 independent living units, which served as a referral source for the nursing home. The buyer was a regional owner/operator that is actively expanding in Ohio. This is... Read More »
  • Strawberry Fields Completes Missouri SNF Portfolio Acquisition

    Strawberry Fields REIT, Inc. announced that it completed the acquisition of nine skilled nursing facilities comprising 686 beds in Missouri for $59 million, or $86,000 per bed. The REIT completed the acquisition using cash on hand and the issuance of approximately $2.0 million in OP Units of Strawberry Fields REIT LP to the seller. Eight of the... Read More »
  • Macquarie Asset Management Launches Health Wave Partners

    Macquarie Asset Management, which has over 35 years of experience in the real estate sector and a current network of 15 specialist operator investments globally, announced the launch of Health Wave Partners, a seniors housing platform aimed at targeting investments in modern seniors housing assets alongside established operators. The platform... Read More »
Blueprint and BlueMountain

Blueprint and BlueMountain

Blueprint Healthcare Real Estate Advisors announced that it was involved in the Sabra Health Care REIT sale of 28 skilled nursing facilities in Texas and Louisiana to a joint venture of BlueMountain Capital Management, BM Eagle Holdings and Capital Funding Group for $282.5 million. Engaged by the joint venture buyer for their expertise on the Texas and Louisiana markets, Ben Firestone, Chris Hyldahl and Gideon Orion of Blueprint helped find local operating partners and tenants for the portfolio, which was previously operated by the now-bankrupt Senior Care Centers. Despite the bad news surrounding SCC’s financial troubles, these facilities were still operating decently well, particularly... Read More »
Skilled Nursing Portfolio Acquisitions Financed by KeyBank

Skilled Nursing Portfolio Acquisitions Financed by KeyBank

KeyBank Real Estate Capital arranged acquisition financing for two skilled nursing portfolios in Nevada and Texas. A joint venture between Capital Senior Ventures and BlueMountain Capital Management was the buyer in both transactions. In the larger deal, Grant Saunders and Peter Trazzera provided a $105.8 million bridge loan to fund the purchase of 12 skilled nursing facilities and to refinance the existing debt of four SNFs located throughout Texas. In total, the 16 facilities have 1,924 beds. Then, Messrs. Saunders and Trazzera arranged a $21.9 million loan for the acquisition of three skilled nursing facilities and 359 beds in Las Vegas and Carson City, Nevada. Read More »

KeyBank, Kindred and BlueMountain

BlueMountain Capital Management has been steadily working to close its large acquisition of 96 skilled nursing facilities from Kindred Healthcare (a deal valued at approximately $700 million). For its latest tranche of closings, the firm received $128 million in acquisition financing originated by Grant Saunders and Peter Trazzera of KeyBank Real Estate Capital’s Healthcare Mortgage Group. The term loan funded the purchase of 13 facilities including nine in California, three in Massachusetts (that are nearing approval) and one in Nashua, New Hampshire. Of the California facilities, five are located in San Francisco, plus one each in Salinas, Stockton, Walnut Creek and Livermore. This marks... Read More »

Kindred Healthcare Sells SNF Division To BlueMountain

Kindred Healthcare announced an agreement to sell 89 skilled nursing facilities with 11,308 beds and seven assisted living communities with 380 licensed beds for $700 million, or $59,890 per bed. In today’s world, that can be considered cheap, since it is nearly 40% below the average price paid per bed in 2016, but there is more to it than meets the casual eye, since there is a group of leased facilities outside of the Ventas-owned properties that will be purchased from Ventas as part of the larger transaction. However, occupancy stands at 78%, which is below the historically low current national average of about 82%. The buyer is private equity firm BlueMountain Capital Management, LLC,... Read More »