• Public REIT Lands Portfolio in Competitive Sale

    A portfolio of Class-A seniors housing communities sold in the Southeast to an undisclosed publicly traded REIT. Featuring six assets in Georgia and South Carolina, the portfolio totaled 156 independent living, 200 assisted living and 70 memory care units. The communities were built between 2017 and 2022 by a Southeast-based developer. Occupancy... Read More »
  • Regional Owner/Operator Acquires Ocala AL Community

    The third and final asset in the Hampton Manor portfolio has sold with the help of Brad Clousing and Dan Geraghty of Senior Living Investment Brokerage. Hampton Manor Deerwood in Ocala, Florida, was built in 2005 and expanded in 2016 to now feature 61 units of assisted living. The property is stabilized, so the new owner can hit the ground... Read More »
  • Second Generation Operator Divests SNF Portfolio to PE Firm

    A Northeast-based private equity firm engaged Daniel Morris of Plains Commercial Real Estate in its plan to enter a new state. The firm has an existing skilled nursing footprint, and had specific acquisition criteria, which narrowed the focus down to a few potential targets.  The company ultimately acquired a five-facility, 506-bed skilled... Read More »
  • CIBC Springs Ahead with Deal Flow

    CIBC has been hard at work this Spring, successfully closing several acquisition financings for senior care clients across the country. The largest was a $51.5 million term loan that supported the purchase of four skilled nursing facilities in Illinois totaling 586 beds. Historical performance trended positively over the last two years across the... Read More »
  • National Healthcare Properties Kicks Off IPO Push

    National Healthcare Properties, Inc. launched its public offering of 38.5 million shares of its Class A common stock pursuant to a registration statement on Form S-11 filed with the SEC. The initial public offering price is expected to be between $13.00 and $16.00 per share, and the company expects to grant the underwriters a 30-day option to... Read More »
CBRE Closes Freddie Mac Green Advantage Loan

CBRE Closes Freddie Mac Green Advantage Loan

The Reliant Group is going green with its latest acquisition in Fresno, California, thanks to financing arranged by Aron Will, Austin Sacco, Andrew Behrens and Jesse Weber of CBRE. Built in 1989 and since then, the target features 200 units of independent living and assisted living spread across seven buildings, including one main three-story building. It is located in an affluent neighborhood of Woodward Park in Fresno and is within two miles of three healthcare facilities. Reliant and its operating partner of the deal, Cadence Senior Living, will execute a significant capital improvements project to upgrade the common areas, units and exterior as well as reduce the property’s... Read More »
California Retirement Community Sells

California Retirement Community Sells

The acquisition market is alive and well, at least it is in California, where demand for properties remains quite strong. The 158-unit, 96,700 square foot community has about 15 memory care units with all the remaining units licensed for both assisted living and independent living. Located just south of San Francisco, the community was built in 1986 and has not received the capex that it should have over the years. Occupancy suffered, at about 55%, despite having below market monthly rates. It was self-managed by a group of multifamily investors, so one could consider it to be somewhat of an orphan property. Because of the low occupancy, it was operating close to break even on estimated... Read More »