• Las Vegas SNF Commands Premium

    We had heard of a high-end skilled nursing facility being marketed for sale in Las Vegas, Nevada, at a very high price for a few months now, and it appears that the sale has closed. Evans Senior Investments announced that it sold Sandstone Spring Valley, a 160-bed skilled nursing facility that was built just 10 years ago. It features an 80-unit... Read More »
  • Genesis Stalking Horse Raises Bid

    The stalking horse bidder for Genesis HealthCare’s 298 affiliated holding companies, ancillary businesses and insurance vehicles has upped its offer, and the deal is set for an approval hearing on December 10. Genesis, which previously held the title of largest skilled nursing operator in the country, filed for Chapter 11 bankruptcy protection in... Read More »
  • SLIB Closes Strong SNF Sale in Colorado

    Two well-run skilled nursing facilities in Colorado sold with the help of Vince Viverito, Jason Punzel, Ryan Saul and Jeff Binder of Senior Living Investment Brokerage. Located in Fort Collins and Windsor, the facilities were built in 1988 and 2018 and featured 445 beds in total. The facilities also comprised 18 total acres and nearly 270,000... Read More »
  • Ensign Buys Kansas City SNF

    The Ensign Group acquired a 45-bed skilled nursing facility in Kansas City, Kansas, that was in need of an operational turnaround. Built in 1974 with additions in 1983 and 1995, Medicalodges Post Acute Care is set on nearly 11 acres in a residential area. It was previously owned by a Kansas-based owner/operator that was divesting in order to... Read More »
  • Communities Pass Between Family Owner/Operators

    A multigenerational family owner/operator recently divested its well-occupied portfolio to a new family owner/operator in Beaverton, Oregon. The all-private pay communities consisted of a 183-unit full-continuum community opened in 2002 and a 58-unit assisted living community opened in 1996. Blueprint handled the sale and financing.  The... Read More »
CBRE Closes Large Florida Refinancing

CBRE Closes Large Florida Refinancing

CBRE Senior Housing’s Aron Will, Austin Sacco and Adam Mincberg closed a large refinancing for a seniors housing community still in early-stage lease up in the Miami, Florida market. The community is also large and considered to be upscale.   Working with a debt fund, CBRE secured a $78 million loan, which came with a three-year term and a floating interest rate. There was also a full term of interest only. Given the property is still in lease-up, we assume that this loan took out previous construction debt, but no other details were disclosed.  Read More »
CBRE Closes Two Financings

CBRE Closes Two Financings

CBRE has secured a couple of financings for seniors housing clients on opposite sides of the country. First, in the Northeast, the team of Aron Will, Austin Sacco and Matthew Kuronen arranged a Fannie Mae loan to refinance a 269-unit rental CCRC located near Providence, Rhode Island. The property received a $39 million loan, or $145,000 per unit, with a seven-year term, fixed interest rate and two years of interest only.  The same CBRE team also arranged construction financing for a to-be-built seniors housing community in Portland, Oregon. Set in a 16-story high-rise in the city’s Pearl District, the community will feature 177 independent living, 77 assisted living and 20 memory care... Read More »
CBRE Returns to Seattle Area For Portfolio Refinance

CBRE Returns to Seattle Area For Portfolio Refinance

CBRE Senior Housing arranged a refinance for a portfolio of four senior living communities in the Seattle, Washington area. A joint venture between Capitol Seniors Housing and The Carlyle Group originally acquired the portfolio in 2016. Featuring a mix of independent living, assisted living and memory care services, with 368 units in total, the properties are located on in-fill sites in affluent submarkets. They average around 25 years in age. MBK Senior Living took over operations from Merrill Gardens after the 2016 acquisition and has overseen some significant capital improvements across the portfolio.   Five years ago, CBRE arranged more than $60 million in acquisition/renovation... Read More »
Several New Hires Announced This Spring

Several New Hires Announced This Spring

The start of spring came with a flurry of new hires at several brokerage firms. First, Andrew Morris joined Greystone as its Director of Healthcare Acquisitions, where he will report to Arthur Hatzopoulos, Corporate Executive Vice President at the company. Mr. Morris comes from Hana2.0 Property Group where he was Director of Investments and focused on sourcing and closing healthcare real estate acquisitions. Before that, he also held roles at Cascade Capital Group, Omega Healthcare Investors, and GE Capital. At Greystone, Mr. Morris will be focusing on seniors housing and healthcare acquisition opportunities but zeroing in on the skilled nursing... Read More »
Joint Venture Refinances Midwest Seniors Housing Portfolio

Joint Venture Refinances Midwest Seniors Housing Portfolio

CBRE’s National Senior Housing team refinanced three seniors housing communities in the Midwest. Owned by a joint venture between CA Ventures and Partners Group, the communities were built in 2016 and 2017 in the Chicago (two locations) and Kansas City metro areas. They consist of 210 assisted living and 98 memory care units as well as numerous high-end amenities. Anthology Senior Living, CA Ventures’ wholly owned senior living operating platform, manages the Illinois communities, while Senior Lifestyle operates the Kansas location.   To refinance debt they had previously placed with another debt fund, Aron Will, Austin Sacco and... Read More »