• Healthcare REIT Divests SNF to In-Place Operating Partner

    Senior Living Investment Brokerage returned to West Des Moines, Iowa, to sell a skilled nursing facility that it had previously sold in 2019. A healthcare REIT was the buyer back then and is now selling the facility to its in-place regional operating partner. Built in 2004, Arbor Springs features 56 beds on an attractive four-acre campus about 10... Read More »
  • Near-Stabilized AL/MC Community Lands Refinance

    Carnegie Capital closed a bridge refinance for a 50-unit assisted living/memory care community in the Houston, Texas MSA. Four years ago, the property was bought by a California-based operator with a growing footprint in Texas. Performance was approximately two to three months from stabilization, but with the acquisition loan maturity looming, a... Read More »
  • Record-Setting HUD Express Lane Application to Commitment

    Cambridge Realty Capital provided a $6.15 million loan to refinance Avalon Memory Care Keller, a 50-bed stand-alone memory care community in Keller, Texas (Dallas-Fort Worth MSA). The fully amortized, 35-year HUD loan was provided for the owner, a Texas limited liability company, that wished to recast bank debt into a long-term non-recourse... Read More »
  • Large Healthcare Owner Receives Financing

    An owner of more than 80 healthcare properties spanning nine states secured bridge and working capital financing for its skilled nursing portfolio in Washington. The financing includes a $40 million bridge loan and a $6 million working capital line of credit, with a 36-month initial term. MONTICELLOAM provided the funding. Read More »
  • Out-of-State Owner Divests to Investor

    A couple of assisted living and memory care communities in Eastern Tennessee recently traded hands. The two properties comprise more than 100 units. A Chicago-based investor aligned with the seller’s long-term vision for the communities acquired the assets, and partnered with a regional operator that was looking to grow their presence in the... Read More »
De Paul Health Care Divests Three Philly-Area SNFs

De Paul Health Care Divests Three Philly-Area SNFs

De Paul Health Care sold three of its Philadelphia-area skilled nursing facilities, leaving the New Jersey-based provider with four SNFs in its portfolio, in addition to its existing medical office building and residential community businesses. Mark Myers and Joshua Jandris of IPA Seniors Housing represented the De Paul family in the transaction, which included a 49-bed skilled nursing facility and a 120-bed SNF in Philadelphia, and a 162-bed facility in Absecon, New Jersey (adjacent to Atlantic City). These facilities were operating at breakeven, despite solid occupancy, which leaves some room for added value for the new owner, Paramount Care Centers. Christopher Utz of Ziegler Seniors... Read More »