• Federal Oversight Coming To Assisted Living?

    Congressional report on assisted living and COVID-19 looks more like a hatchet job than really trying to help. Senators Warren and Markey’s report is in, and try counting how many times the word “federal” was used, as in there are no “federal” reporting requirements, data should be regularly reported to the “federal” government, assisted living... Read More »
  • Capital Funding Group Reports Impressive First Half of 2020

    We’re not sure how, but Capital Funding Group announced a record-setting first half of 2020 with more than $600 million in financings closed for skilled nursing and assisted living clients. We’re sure that not only made those at Capital Funding Group happy, but also their clients, who were able to access capital during the liquidity crunch at the... Read More »
  • Joint Venture Acquires Two Development Sites

    With an eye to the future, ZOM Senior Living and Watermark Retirement Communities bought two parcels of land in southeast Florida to develop a couple of seniors housing communities. Development has certainly slowed for a variety of reasons, like state and local orders, lack of financing or an abundance of caution from... Read More »
  • Watercrest Breaks Ground On South Carolina Senior Living Community

    Watercrest Senior Living Group broke ground on another senior living community just a couple of months after starting work on a 98-unit senior living community in Macon, Georgia. This most recent project is located in Myrtle Beach, South Carolina, and also comprises 76 units of assisted living and 22 units of memory care. There will be amenities... Read More »
  • Cambridge Realty Capital Closes HUD Deal

    The HUD pipeline is still flowing these days, and Cambridge Realty Capital Companies announced a loan closing for a 115-bed skilled nursing facility in northeast Texas in the city of Longview. Built in the 1980s but well maintained, this facility has so far been spared from COVID-19. The New York-based owner decided to refinance and, with the... Read More »
Back to Boise

Back to Boise

Boise, Idaho-based Cascadia Healthcare, a regional provider of transitional/skilled nursing care, just expanded its relationship with one of the more active buyers in 2016, CareTrust REIT. A few months after Cascadia sold (and then leased back) its 98-bed skilled nursing facility in Boise to CareTrust for $8.9 million, or $90,816 per bed, the provider broke ground on its latest transitional care development in nearby Nampa. The 99-bed, 52,000-square foot facility, scheduled to open in mid-2017, just received a $2.2 million preferred equity investment from CareTrust. In addition, the REIT will have an option to purchase the property once it is stabilized. Read More »

CareTrust’s buying spree

What has gotten into CareTrust REIT this year? When most other REITs are taking a significant step back in terms of buying, the California-based CareTrust has made 11 acquisitions, for 21 facilities, so far in 2016 (which already equals the number of facilities acquired in 2015). First, the company purchased two communities in North Carolina for $11.7 million, or $113,592 per unit, handled by Evans Senior Investments. The deal included a 16-year old 46-unit assisted living/memory care community and a 17-year old 21-unit memory care community. Premier Senior Living Group will operate the two stabilized properties. Next up, CareTrust bought a 175-unit independent/assisted living community in... Read More »