• National Lending Group Divests in Wisconsin

    by | Apr 25, 2024 3:31 pm | Acquisitions

    Justin Knapp, Nick Stahler and Ray Giannini of Marcus & Millichap recently closed the receivership sale of an 86-bed skilled nursing facility in Wisconsin. The Knapp-Stahler Group represented the seller, a national lending group that also provided financing for the deal.  The borrower/buyer was a local operator with ties to an East... Read More »

  • CFG Secures Bridge-to-HUD Loan for Ohio Skilled Nursing Facility

    by | Apr 25, 2024 3:30 pm | Financings

    Capital Funding Group secured financing for a skilled nursing facility in Ohio on behalf of a nationally recognized borrower. The bridge-to-HUD loan totals $13.5 million and supports the refinancing of this 120-bed SNF. Tim Eberhardt and Ava Julio of CFG originated the transaction.  This financing follows CFG’s closing of two HUD loans on... Read More »

  • CBRE Secures Financing For Class-A Seniors Housing Community

    by | Apr 25, 2024 3:29 pm | Financings

    CBRE secured financing for a Class-A seniors housing community in North Dakota on behalf of a joint venture borrower. Built in 2017, New Perspective West Fargo is in Fargo, one mile from Sanford Medical Center, North Dakota’s newest and largest medical center. The community features 128 independent living, assisted living and memory care units... Read More »

  • PCP Purchases Ohio Assisted Living Community

    by | Apr 25, 2024 3:27 pm | Acquisitions

    Phorcys Capital Partners LLC, the investment advisor to Phorcys Senior Housing Recovery Fund LP (SHRF), announced it acquired a seniors housing community in Wickliffe, Ohio, through a trustee-directed short sale for $13.0 million, or $81,000 per unit. This is PCP’s second investment in SHRF, and it will continue to focus on the winding down of... Read More »

  • Newmark Closes Class-A Deal in Denver

    by | Apr 24, 2024 8:44 am | Acquisitions

    A new seniors housing community traded in the Denver, Colorado MSA, with the help of the team at Newmark. Developed in 2017, MorningStar at RidgeGate is located in the suburb of Lone Tree within the Ridgegate master plan that features retail, cultural amenities and a 284-bed hospital nearby. The property comprises five stories over subterranean... Read More »
Diversified Healthcare Trust Transitioning 66 Communities

Diversified Healthcare Trust Transitioning 66 Communities

by | Jul 20, 2021 4:09 pm | Acquisitions

A few months ago, Diversified Healthcare Trust announced it would transition 108 of 228 senior living communities managed by Five Star Senior Living to new operators. It has now found three operators to take over management of 66 of them with 4,084 units, or 62 units per community.  The 108 communities have approximately 7,500 units, while the remaining 120 communities have about 18,000 units. So, the communities being transitioned to new operators are much smaller (average of 69 units) compared to the retained communities, with an average of 150 units.  Naperville, Illinois-based Charter Senior Living will be taking over management of communities in... Read More »
Evans Senior Investments Lands A Triple

Evans Senior Investments Lands A Triple

by | Feb 7, 2018 7:01 am | Acquisitions

Evans Senior Investments (ESI) showed its range in closing three transactions across the country, totaling over $20 million. First, in its home state of Illinois, ESI represented the seller, an independent owner/operator, in the sale/leaseback of its 30-unit assisted living community in Winnebago (near Rockford, Illinois) for $4 million, or $133,300 per unit. Just 10 years old, the community was operating well, with 97% occupancy, 100% private pay census, and a 33% operating margin on about $1.225 million of revenues. A publicly traded REIT added the property into a master lease in which the seller already managed other communities on behalf of the REIT. Moving South, ESI handled the sale... Read More »