• Omega Invests in Saber Healthcare Joint Venture

    Omega Healthcare Investors released its third quarter earnings and made some news when it disclosed the acquisition of a 49% equity interest in a joint venture with Saber Healthcare. The JV will own and lease 64 skilled nursing facilities that were previously wholly owned by affiliates of Saber, which will retain a 51% equity interest in the JV... Read More »
  • Health Systems as Sellers in Three Transactions

    Cain Brothers advised on a trio of senior care transactions involving health systems as sellers, which could be a growing trend, particularly among any resource-constrained systems. Conversely, other systems may see the need to own skilled nursing beds in the future in order to control the transfer of their post-acute patients to SNFs and free up... Read More »
  • Large Ohio Operator Takes on Vacant SNF Beds

    Senwell Senior Investment Advisors facilitated the sale of 26 skilled nursing beds from a facility in Ohio and coordinated the repurposing of the real estate for future behavioral health services. The owners made the decision to close the facility after determining that the small size of the building prevented it from achieving the operational... Read More »
  • Not-For-Profits Secure Bond Financings

    Ziegler announced the successful pricing of $34.0 million Series 2025 bonds for The Chapel Hill Residential Retirement Center, Inc. d/b/a Carol Woods. Carol Woods is a North Carolina not-for-profit organization incorporated in July 1972 by a group of local citizens to develop, own and operate a CCRC in Chapel Hill, North Carolina. Currently,... Read More »
  • Ventas Posts Healthy Q3 With Robust Acquisition Activity

    Among the earnings results trickling out this month, it will be impossible to overshadow Welltower’s announcement with $14 billion in new investment activity and another great quarter of seniors housing operating portfolio (SHOP) performance improvements. But Ventas reported healthy results, too, and some significant acquisition volume.  Ventas... Read More »
CBRE Finds Financing With Freddie Mac

CBRE Finds Financing With Freddie Mac

Aron Will of CBRE worked with Freddie Mac for his two latest transactions, and crisscrossed the country to do so. First, with Andrew Behrens of CBRE Multifamily Institutional Group, Mr. Will closed a $29.8 million financing for a 144-unit senior living community in Escondido, California (San Diego MSA). Purchased in 2012 by Westmont Living, the community underwent a three-year capital improvement project that involved adding a 22-unit memory care wing. It clearly worked, as occupancy stands at 92% for the property. Westmont received a 10-year, fixed-rate loan with 60 months of interest only payments. Then, to Cincinnati, Ohio, where Mr. Will arranged acquisition financing (again through... Read More »
Chicago Pacific Founders All-In in Las Vegas

Chicago Pacific Founders All-In in Las Vegas

For the third time in the firm’s three-year history, Chicago Pacific Founders is acquiring a senior living community in the Las Vegas market, with the help of financing arranged by Aron Will of CBRE. Located about 13 miles west of the Strip (and 3.5 miles northwest of Spring Valley Medical Center), the community features 160 units of about 80% independent living and 20% assisted living. Built in 1999, it will be operated by Grace Management, which believes it can improve on the census and operations. Mr. Will originated a $13.5 million Fannie Mae loan, with a seven-year term and 3.5 years of interest only, on behalf of CPF’s private equity arm, CPF Living Communities. One of CPF’s other... Read More »

Grandbridge hits the Town…Village

It was recently announced that Grandbridge Real Estate Capital closed $125 million in financing to assist in the acquisition of four Town Village-brand independent living communities in four states. A joint venture between Chicago Pacific Founders and Grand Park Capital Management (owned by former Brookdale Senior Living executives John Rijos and Bill Doniger, respectively) was the buyer. According to some media outlets, the properties sold for $180 million, or approximately $220,000 per unit. Grandbridge provided $25 million in supplemental loans and also closed $100 million in assumption loans for existing Fannie Mae debt that Grandbridge had previously originated. Read More »
Triumph in Tucson

Triumph in Tucson

Making its second-ever acquisition in Arizona, Chicago Pacific Founders added a 140-unit independent living community in Tucson to its growing portfolio of now eight properties located across the country. Almost a year prior to this deal, CPF had entered into the Arizona market with its $7.2 million purchase of a 79-unit assisted/independent living community in Sun City. Also, just over the border in Nevada, CPF acquired a 72-unit assisted living community in Pahrump for an estimated $7.5 million. The newest property is located in a residential and retail area in southwest Tucson, and is close to several major medical centers. CPF plans to make investments in the community, and its... Read More »