• 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 »

  • Public REIT Purchases Texas Class-A Seniors Housing

    by | Apr 23, 2024 3:56 pm | Acquisitions

    Blueprint was engaged in the divestment of a Class-A seniors housing community in San Antonio, Texas. Built in two phases in 2011 and 2017, Franklin Park TPC Parkway comprises 269 independent living, assisted living and memory care units. Following the completion of a six-year freeway expansion project that affected leasing, access to the... Read More »

  • Eads Sells Its 24th & 25th Missouri Community

    by | Apr 23, 2024 3:54 pm | Acquisitions

    Patrick Byrne of Eads Investment Brokerage facilitated the divestment of two seniors housing communities in Missouri. This marks the 24th and 25th communities sold in Missouri for Eads. The Moberly community (which we believe to be Mark Twain Assisted Living) comprises 35 assisted living/independent living units and sold for $2.57 million, or... Read More »

  • 60 Seconds with Swett: CMS Raises the Minimum Staffing Mandate

    by | Apr 23, 2024 3:48 pm | 60 Seconds

    On Monday, CMS came out with its final minimum staffing standards for nursing homes, but the eventual outcome is anything but final. Despite the outcry from nursing home providers from the previous proposed mandate of three hours per resident per day, asking simple questions like how can we pay for this and where will this newly needed staff come... Read More »

  • More Shareholder Activism

    by | Apr 22, 2024 9:04 am | Opinion

    Fresh from its success in getting two people voted onto the Ventas Board of Directors, Land & Buildings is at it again, this time with National Health Investors. Like all the REITs, NHI’s managers and tenants had their share of problems during the pandemic. Who didn’t? Most of these issues are behind it, but the REIT could be in even stronger... Read More »
BMO Harris Funds Construction Project in North Carolina

BMO Harris Funds Construction Project in North Carolina

by | Aug 5, 2021 4:32 pm | Developments, Financings

BMO Harris Bank’s Healthcare Real Estate Finance business announced that it secured a $72.4 million construction loan for a senior living community in Charlotte, North Carolina. The Village on Morehead will feature 199 high-end independent and assisted living units in 12 stories. Bridgewood purchased the site for $11.5 million and will have its wholly-owned management group, Retirement Center Management, operate the community once it opens in 2023.  CBRE arranged this loan through BMO Harris on behalf of a joint venture between Bridgewood Property Company and Harrison Street. CBRE originated a four-year, floating-rate loan with a full term of interest-only and extension options. Over the... Read More »
BMO Harris Bank Finances New Jersey Development

BMO Harris Bank Finances New Jersey Development

by | Jun 16, 2021 9:58 am | Developments, Financings

BMO Harris Bank’s Healthcare Real Estate Finance group announced that it led and closed a $73.4 million construction financing for a joint venture between LCS and an institutional partner to develop a 220-unit senior living community in Florham Park, New Jersey. People’s United Bank was also a $30 million participant in the deal.  Set to open in March 2023, the community will feature 128 independent living units (53 one-bedroom and 75 two-bedroom options), 58 assisted living units (10 studio, 40 one-bedroom and eight two-bedroom options) and 34 memory care units (32 private and two semi-private units).  Read More »
MedCore Partners Acquires Seniors Housing Portfolio

MedCore Partners Acquires Seniors Housing Portfolio

by | Jul 10, 2020 2:42 pm | Acquisitions

MedCore Partners and The National Realty Group announced their purchase of a seven-property senior living portfolio on the West Coast. The deal included five senior living communities in Washington State and two in California. Among the Washington properties were the 60-unit Birchview Memory Care in Sedro-Wooley, the 55-unit Discovery Memory Care in Sequim, The Sequoia in Olympia with 92 units, the 72-unit Cooks Hill Manor in Centralia and lastly, and the largest, The Village in Tacoma with 136 units. In California, there was Del Obispo Terrace in San Juan Capistrano with 91 units and the 76-unit Westminster Terrace in Westminster.   Their operator,... Read More »
BMO Harris Bank Closes Credit Facilities

BMO Harris Bank Closes Credit Facilities

by | Jan 10, 2020 3:50 pm | Financings

BMO Harris Bank’s Healthcare Real Estate Finance group has been busy lately closing credit facilities for senior living clients. The first transaction saw the bank close a $59.4 million facility for LCS’ acquisition of The Clare CCRC in downtown Chicago, Illinois. We profiled the sale in this month’s edition of The SeniorCare Investor, and subscribers can read the story here. Then, BMO provided a syndicated $75 million senior credit facility for Largo Land Development, LLC and Watermark Retirement Communities to develop a 219-bed independent living/assisted living/memory care community and a 64-unit active adult community in Upper Marlboro, Maryland (Washington, D.C. MSA). BMO partnered... Read More »
PE Group Gets Financing from BMO Harris Bank

PE Group Gets Financing from BMO Harris Bank

by | Aug 1, 2019 4:53 pm | Financings

BMO Harris Bank’s Healthcare Real Estate Finance team supported a private equity group’s acquisition of a 132-unit seniors housing community in Bloomington, Indiana, by acting as sole lender of a $19.5 million senior secured term loan. Midwest operator Arrow Senior Living will be the new fee-based manager of the three-year old community, adding more dining services and enhanced social events in addition to the existing amenities like complementary chauffeured transportation, spacious courtyards and a fitness center, among others. Arrow manages each of its 13 communities in partnership with its parent company, Turnaround Solutions LLC, an affiliated seniors housing consulting company that... Read More »