• Investment Firm Acquires in Missouri

    Investment firm Lapis Advisors purchased a seniors housing asset out of state receivership in Kansas City, Missouri. The CCRC was distressed, having struggled with COVID-related challenges as well as a limited access to capital in recent years.  Kingswood Senior Living features 185 independent living (65 of which are large duplex cottages),... Read More »
  • Global Investment Firm Sells Community with Strong Momentum

    A global real estate investment firm sold an independent living community in Iowa, engaging Blueprint’s Kory Buzin, Dillon Rudy and Steve Thomes to get the deal done. Built in 2002, the four-story community features 121 units, mostly with two-bedroom options. It appears to be The Arbordale in Urbandale, which was acquired in 2020 by Omaha,... Read More »
  • Large Operator Adds Turnaround Campus to Portfolio

    A senior care campus in Ohio found a new owner with the help of Kiser Group. Set on 26 acres in a rural market east of Cleveland, the property features 76 skilled nursing beds, five assisted living units and three independent living units. It was originally built in 1950 but expanded through multiple additions between 1965 and 2001.  At the time... Read More »
  • Texas Skilled Nursing Portfolio Sells

    A portfolio of skilled nursing facilities traded hands in Texas before the end of the year. There are two assets in the Lubbock area and two in Central Texas that are located northwest of Austin. They comprise more than 430 beds, with between 100 to 120 beds at each of the four facilities. Three of the buildings were constructed in the 1970s, and... Read More »
  • CIBC Bank’s Recent Activity

    CIBC Bank USA closed an impressive array of transactions in the last several months, totaling more than $800 million in credit facilities across the country. The largest transaction was an $85 million (with earn-outs) debt package for a senior care portfolio in the Northeast. The debt included a senior term loan and a mezzanine loan to refinance... Read More »

New joint venture debuts

Contemporary Healthcare Capital and Community & Southern Bank announced the first joint closing under their strategic alliance and “uni-tranche” program with a $10.5 million loan for a Pacific Northwest-based seniors housing operator to acquire a 95-unit/116-bed assisted living/memory care community in Ashland, Oregon. The combined loans were valued at about 85% loan-to-cost, translating to an approximate purchase price of $12.1 million, or $127,400 per unit. The borrower also plans to use proceeds of the loan to invest $575,000 in capital improvements, provide initial working capital and pay associated closing costs. The strategic alliance will provide enhanced leveraged financing... Read More »