• Southern California CCRC Refinances and Expands with Truist Financing

    To support the refinance and expansion of a not-for-profit CCRC in southern California, Truist Financial Corporation announced that it served as the sole lender of a $42.4 million loan. Originally developed in 1947, the community has grown on its 50-acre campus in La Verne, California to include 226 independent living units, 48 assisted living... Read More »
  • Blueprint Sells Oregon Community

    A memory care community in Coos Bay, Oregon may have closed a couple of years ago, but a new owner recently took over the building thanks to Dan Mahoney and Blake Bozett of Blueprint Healthcare Real Estate Advisors. Built in 1998, this 55-unit memory care community is located in Coos Bay on the central Oregon coast. Its previous owner originally... Read More »
  • New Jersey SNF Gets HUD Refinance

    Cambridge Realty Capital Companies secured a HUD refinance for a 102-bed skilled nursing facility in Madison, New Jersey. Previously owned by Extended Care Clinical, the facility last sold in 2016 for $8.3 million, or $81,400 per bed, to a family owner/operator.   Built in 1947 with 102 beds in two stories, the facility provides both short- and... Read More »
  • Home Health Care & Hospice Sees Busy M&A Week

    It was a busy week for home health & hospice (HH&H) transactions. Results from our Deal Search Online database show there were four announced last week alone, half of September’s total so far. Half of the deals were completed by private equity-backed companies, which highlights the continued interest in HH&H from PE firms.  Jet... Read More »
  • Many Impacts of COVID, But “Stupidity” Factor May Grow

    The views on where we are in this pandemic are bifurcating, just like in the acquisition market, but we are also dealing with the “stupidity” factor. Just like in the acquisition market, where values and cap rates have been bifurcating between the top “A” properties and the rest of the market, so are opinions as to the current state... Read More »
Blueprint’s April Activity Continues

Blueprint’s April Activity Continues

Continuing Blueprint Healthcare Real Estate Advisors’ busy deal activity in the last week, which included three skilled nursing closings on April 1st, the team of Amy Sitzman, Dan Mahoney and Blake Bozett sold a 36-unit assisted living community in Kennewick, Washington, in the eastern part of the state. Built in 1995 and featuring all private rooms, the private pay community recently struggled with occupancy because of key leadership turnover.   The seller did work to increase census to over 90% throughout the transaction process, which created some good faith between parties that almost surely allowed for a smooth closing in the middle of the COVID-19... Read More »
Capitol Seniors Housing Flips Ann Arbor Assisted Living Community

Capitol Seniors Housing Flips Ann Arbor Assisted Living Community

It’s only been two years since Capitol Seniors Housing acquired a 75-unit assisted living/memory care community in Ann Arbor, Michigan, but the time has come to sell. Richard Swartz, Jay Wagner, Sam Dylag and Chris Remeika of Cushman & Wakefield found a buyer in Kayne Anderson Real Estate, with Provision Living staying on as the operator. No purchase price was disclosed. Originally built in 2000, the community features 63 assisted living and 12 memory care units. When CSH purchased the community from Provision Living in January 2017, they committed to investing in resident care technology, additional common areas and unit renovations. Those projects also eventually included a brand-new... Read More »
Capitol Seniors Housing Opens High-End Maryland Community

Capitol Seniors Housing Opens High-End Maryland Community

Capitol Seniors Housing just opened an assisted living/memory care community in the Baltimore area at a cost of $27.2 million, or nearly $325,000 per unit. Unique to the community (and probably pushed up its development cost) is its location adjacent to the 79-acre Waugh Chapel Towne Centre, which features a Wegmans, Target, Dicks, an IMAX theater and others. The community itself, in addition to its 84 units, featured a second-story terrace, a courtyard and a number of amenities. Moseley Architects designed the building, with Faulkner Design Group designing the interior. CSH hired The Arbor Company to manage the community and to oversee its fill-up. Read More »
Capitol Seniors Housing Refinances California Community

Capitol Seniors Housing Refinances California Community

Five years on from its acquisition of an 83-unit senior living community in Tustin, California, Capitol Seniors Housing is refinancing the property with a $15 million loan secured by Aron Will, Austin Sacco and Adam Mincberg of CBRE National Senior Housing. Originally built in 1985, this community consists of mostly assisted living units, with a memory care component as well. We have heard that it was acquired from Harrison Street Real Estate Capital five years ago for around $250,000 per unit and at a market cap rate close to the average for AL communities (around 8%). Since then, Capitol Seniors Housing has invested in capital improvements and modern updates to better compete with other... Read More »
The 55+ Active Adult Market: The New Frontier of Seniors Housing

The 55+ Active Adult Market: The New Frontier of Seniors Housing

Judging by the number of questions we got during our May 16th webinar called “The 55+ Active Adult Market: The New Frontier of Seniors Housing,” it is safe to say that there is plenty of interest in this growing market. Our listeners tuned in to find out what prices active adult communities have been trading at, their cap rates, and what exactly operationally goes into this no-care and low-services senior living option. You can still listen here. Our Editor, Steve Monroe, and several experts that included Ryan Maconachy of Newmark Knight Frank, Ryan Frederick of SmartLiving 360 and Michael Hartman of Capitol Seniors Housing made up our panel, bringing in different perspectives on how to... Read More »