• Interview with Bryan Lockard of JLL Value and Risk Advisory

    Ben Swett, Managing Editor of The SeniorCare Investor, sat down with Bryan Lockard of JLL Value and Risk Advisory to discuss JLL’s 2024 Seniors Housing and Care Investor Survey and Trends, which you can download here. Read More »
  • Wow…Sonida Senior Living

    The last company in our sector, Sonida Senior Living, finally reported fourth quarter and full-year 2023 earnings, and while pretty good, that was not even the story. The story started four weeks ago. In February, the company announced a series of capital transactions which reduced their debt, raised some equity, and provided liquidity to take... Read More »
  • Marcus & Millichap Arranges SNF Leases

    After purchasing four senior care campuses in a large portfolio deal, a seniors housing owner/operator turned to Marcus & Millichap to find new tenants for the skilled nursing portions of each newly acquired campus. Each building was losing close to $1 million annually and had struggled with occupancy and expenses.  While the portfolio... Read More »
  • LSS Absorbs Diakon

    Two large not-for-profits announced that they were combining to create the 12th largest not-for-profit senior living organization in the country. Lutheran Senior Services, based in St. Louis, Missouri, signed an agreement to bring Diakon Senior Living operations and four CCRCs under its umbrella. Both organizations were described by Adam Marles,... Read More »
  • SNF Under Receivership Is Acquired in Kansas

    Marcus & Millichap was brought on by a limited liability company in the sale of a skilled nursing facility in Topeka, Kansas, that was under receivership. The facility, Providence Living Center, comprises 78 beds across 24,000 square feet and focuses on senior residents with mental health needs. Rod Llanos and Colby Haugness handled the... Read More »

Ray Stone Adds To California Portfolio

CBRE National Senior Housing’s Aron Will, Austin Sacco and Adam Mincberg partnered with CBRE Sacramento’s Kevin Randles to arrange acquisition financing for Arbor Senior Living on behalf of Ray Stone, Inc. (RSI). The two-story, 76,000 square foot Lodi, California community was opened in 1986 and is sited on a three acre lot, comprising 96 independent living units. It has been a high-performing asset in the past and has consistently produced meaningful cash-flow and maintained high occupancy levels. CBRE originated a $8.4 million fixed-rate loan through its Freddie Mac OPTIGO lending program. Post-closing, Sacramento-based RSI will operate the community. They also operate several other... Read More »
CBRE Refinances For The Springs Living

CBRE Refinances For The Springs Living

CBRE National Senior Housing’s team including Aron Will, Austin Sacco and Matthew Kuronen arranged a recapitalization of four seniors housing communities in Oregon and Montana. The Springs Living owns and operates the portfolio, which includes 209 independent living, 164 assisted living and 31 memory care units. It received a non-recourse, floating-rate loan from a national bank. There was also a five-year term and 18 months of interest only. McMinnville, Oregon-based The Springs Living is a 25-year-old privately held regional developer/owner/operator with a current portfolio of 18 communities totaling over 2,500 units. There are 13 communities located in Oregon and five in Montana, with... Read More »

Lloyd Jones Expands Senior Housing Presence with Help From CBRE

CBRE National Senior Housing arranged acquisition financing for Lloyd Jones’ acquisition of River Bend Assisted Living and Memory Care in Rochester, Minnesota. Aron Will, Austin Sacco and Matthew Kuronen of CBRE worked on the deal. Built in 2014, the Class-A community has 89 assisted living and memory care units on 2.8 acres about 1.5 miles away from the original Mayo Clinic in Rochester. There are landscaped walking paths with direct access to scenic Zumbro River trails, and Lloyd Jones plans to enhance the property through technology and amenity improvements. In addition, it will implement an acuity mix shift, converting 16 out of the total 18 memory care units to transitional... Read More »
CBRE Refinances Community in Oregon

CBRE Refinances Community in Oregon

Harrison Street and The Springs Living recently refinanced its jointly owned seniors housing community in Lake Oswego, Oregon (Portland MSA), with the help of Aron Will, Austin Sacco and Tim Root of CBRE National Senior Housing. CBRE had also arranged the original construction loan for the community in 2017, so the team was clearly familiar with it. They secured a non-recourse, four-year loan, with a floating rate and three years of interest only, through a national bank. Opened in 2019 with 216 independent living, assisted living and memory care units, the community also features amenities like a rooftop deck with covered dining and a wine bar, an indoor heated swimming pool and hot tube,... Read More »
CBRE Closes Large Acquisition Financing

CBRE Closes Large Acquisition Financing

CBRE National Senior Housing arranged more than $200 million in acquisition and recapitalization financing for seven senior living communities across three different transactions. The financing was done on behalf of Monarch Alternative Capital LP and REDICO, the buyers of the properties.   The portfolio includes 1,133 units of independent living, assisted living and memory care in Florida, Illinois and Michigan. The five Florida properties with 817 units are relatively new and have been operated by American House Senior Living Communities. They are located in Bluewater Bay, Bonita Springs, Coconut Point, Fort Myers and Wildwood. The one community in... Read More »