• 60 Seconds with Swett: M&A Activity Tops 350 Deals in H1:25

    In the second quarter of 2025, there were 176 publicly announced transactions, a preliminary number that is almost certain to increase in the weeks ahead. That brings our total for the first half of the year to 355 deals, or 710 on an annualized basis. Considering we finished 2024 with 716 total deals, which was a record by far, we are in a good... Read More »
  • Bloom Exits South Carolina’s Seniors Housing Market

    Kandu Capital, LLC, and its operating company, Bloom Senior Living, collectively known as Bloom, sold its final seniors housing community in South Carolina. The company is seeking realignment as it exits the state after a decade-long presence in the region. The 129-unit independent living and memory care community, which is in Bluffton, sold for... Read More »
  • Improving Ohio SNF Sees Strong Price

    Ryan Saul of Senior Living Investment Brokerage secured a strong price for a skilled nursing facility in Cincinnati, Ohio. Built in 1965, the facility was originally licensed for 199 beds, but the decision was made to strategically reduce the beds to 167 to save on provider tax and improve the Medicaid rate.  The facility struggled for many... Read More »
  • Stacked Stone Ventures Makes Major SNF Acquisition

    Stacked Stone Ventures, a real estate investment firm founded by Kent Eikanas, has made a major acquisition in the skilled nursing sector, acquiring nine skilled nursing facilities for approximately $33 million, or $66,000 per bed, at a 13% cap rate. Stacked Stone bought the portfolio in a joint venture with Praxis Capital from a large... Read More »
  • Tremper Capital Group Announces Two Refinances

    Tremper Capital Group announced a couple of refinances at the end of the second quarter for seniors housing clients. The first was arranged on behalf of Kisco Senior Living for its 333-unit entrance-fee CCRC in Palm Beach Gardens, Florida. Built in 2004, the campus was acquired by Kisco as part of a larger CCRC deal in 2013, and since then it... Read More »
Watermark Retirement Communities and JV Partner Acquire Two Assets

Watermark Retirement Communities and JV Partner Acquire Two Assets

The joint venture between Titan Development and EverWest Real Estate Investors decided to sell two of its “Élan” assets in the Southwest. Each property features 77 assisted living and 36 memory care units, for a total of 220 units with 226 beds. The Austin, Texas property opened in late 2016, and just after, the Albuquerque community opened in early 2017 within the 60-acre Santa Monica Place master plan, which consists of 460 new, Class-A multifamily units (developed by Titan Development and Alliance Residential), a 130-unit independent living community operated by Resort Lifestyle Communities, and 150 new single family homes ranging in price from $275,000 to $400,000. Seems like a good... Read More »
Recently Rebranded Senior Living Community Refinances

Recently Rebranded Senior Living Community Refinances

Having just undergone a renovation and a rebranding, an assisted living/memory care community in Dallas, Texas obtained a first mortgage loan, courtesy of MidCap Financial. The borrower for the $6.25 million floating-rate loan was a joint venture between private equity firm Artemis Real Estate Partners and Fort Worth-based operator Civitas Senior Living. Read More »
Another Civitas Development in the Lone Star State

Another Civitas Development in the Lone Star State

Civitas Senior Living may have already expanded outside its home state of Texas, with three existing communities and four more on the way in Florida, Kentucky, Colorado and Arizona, but the Fort Worth-based company is coming home for its latest development. The 188-unit community, located in the Red Oak suburb of Dallas, will feature independent living, assisted living and memory care services and will join the 32 other properties currently owned and operated by Civitas. To finance the development, HJ Sims invested $5.85 million of preferred equity, which it funded by placing corporate taxable bonds. The subordinate financing was structured to meet the requirements of the senior lenders... Read More »
Dealing in Dallas

Dealing in Dallas

We’ve all heard the warnings of overdevelopment in Texas, particularly of new assisted living and memory care communities. One of those MSAs that has seen plenty of groundbreakings is Dallas, with nearly 5,000 units built from Q4 2012 to Q4 2016, according to NIC MAP. While the market is in better shape than Austin, Houston and San Antonio in terms of construction versus inventory, occupancy has been consistently low in Dallas, hovering around 85% for the past few years. We wonder how well those new communities have been filling up. That was probably on the mind of an out-of-state buyer when it purchased a recently built assisted living/memory care community in Allen, Texas, an affluent... Read More »
A Flowering Relationship

A Flowering Relationship

Capitol Seniors Housing (CSH) is expanding its assets in Texas through a new operating relationship with Civitas Senior Living, which has lately been known for its development activity in the Dallas-Fort Worth and Austin markets. While we have not been alone in voicing concerns about overbuilding in these markets, the target property for CSH (developed by Civitas in the DFW MSA) clearly has not felt the effects. Located in Flower Mound, the community was just built in 2015 with 58 assisted living and 34 memory care units, and is already nearly fully occupied with a strong cash flow on top of that. CSH paid $26 million, or $282,600 per unit, for the property. Based on trailing-three month... Read More »