• Brookdale’s Uneven Recovery

    Brookdale Senior Living has been going through some major changes in the last year, so naturally its recovery could be a little uneven, with the hope of more long-term growth and stability. They have a new CEO, COO and a new operational structure, in addition to exiting more than 100 communities in the last year. But the mixed bag of results can... Read More »
  • Two Public REITs Continue Their SHOP Push

    Two public REITs honing in on the seniors housing sphere have announced their first quarter earnings results. LTC Properties reiterated its commitment to seniors housing again, and Janus Living, Healthpeak Properties’ spin-off REIT that debuted in the public markets in March, is already showing momentum. First, after completing seniors housing... Read More »
  • Tennessee Assisted Living Community Sells

    Andrew Montgomery of Montgomery Intermediary Group recently sold an assisted living community in eastern Tennessee. Built in the late 1990s, the building featured more than 40 units, plus some houses on its campus. There was some additional acreage, as well. It was sold by one out-of-state owner to another, but the buyer has another assisted... Read More »
  • SNF Portfolio Trades Following Strong Bidding Environment

    A regional operator looking to recycle capital divested a portfolio of four skilled nursing facilities in Florida. There were a total of 460 functional beds, and they were spread across Rockledge, Naples, Venice and Sarasota. Evans Senior Investments handled the deal.  The portfolio generated approximately $46 million in total annualized... Read More »
  • Class-A Seniors Housing Community Receives Agency Financing

    BWE closed $77 million in fixed-rate, Fannie Mae financing for a Class-A seniors housing community in a major Midwest MSA. The 10-year loan features a full term of interest-only payments. Ryan Stoll and Taylor Mokris led the financing. The community offers a full continuum of care, including independent living, assisted living and memory care.... Read More »
Inland Private Capital Corporation Makes First Seniors Housing Acquisition

Inland Private Capital Corporation Makes First Seniors Housing Acquisition

As part of its larger disposition/restructuring strategy, Capital Senior Living Corporation announced in its third quarter earnings report that it sold two non-core independent living communities in Peoria, Illinois and Springfield, Missouri, generating some healthy proceeds in the process. The communities sold for a combined $64.75 million, or nearly $205,000 per unit, resulting in $14.8 million of net cash proceeds and $44.4 million of mortgage debt off its books. Tim Cobb and Sabel Kaminski of Berkadia represented CSL in the transaction. Both built in the late-1990s and totaling around 215 units, these communities were both over 90% occupied, but rent growth was sluggish. They were in... Read More »
Evans Senior Investments Closes One In Their Backyard

Evans Senior Investments Closes One In Their Backyard

It is not often that a seniors housing brokerage firm can sell a community in their home town, but the Boulder, Colorado office of Evans Senior Investments was hired to sell a 54-unit independent living community in Boulder. The community, built in 2007, has been averaging an occupancy rate of 93% to 94%, but may have been slightly higher at closing. That high occupancy rate might have something to do with the fact that the majority of the units have two-bedrooms and the majority have more than 1,000 square feet inside the units. Rates range from about $3,000 to $4,500. With an operating margin close to 50%, this must be a very well-run community, since it is also quite small for... Read More »