• 60 Seconds with Swett: Getting Realistic with New Development

    by | Sep 16, 2025 3:42 pm | 60 Seconds

    The positive mood at the NIC Fall Conference was contagious, as dealmakers were looking forward to a potential record-breaking fourth quarter. We at LevinPro are also gearing up to cover a new elevated level of M&A activity and pricing in the coming months, with our updated valuation tool better accounting for today’s market and the estimated... Read More »

  • NHC Responds to NHI

    by | Sep 16, 2025 3:39 pm | Uncategorized

    National Healthcare Corporation, the tenant of 32 of National Health Investor’s skilled nursing/senior care facilities and three independent living communities, is disputing NHI’s determination of default after the landlord formally notified the operator that it was in default and must cure the default within 30 days to avoid an Event of... Read More »

  • REIT Acquires High-Quality Continuum of Care Community

    by | Sep 16, 2025 3:35 pm | Acquisitions

    Blueprint facilitated the sale of a Class-A seniors housing community in Jasper, Georgia. Built in 2022, The Lodge at Stephens Lake includes 83 units of independent living cottages, assisted living and memory care. It is adjacent to a large active adult development and benefits from significant planned residential and commercial growth. At the... Read More »

  • Legend Senior Living Adds Allentown-Area Asset

    by | Sep 16, 2025 3:33 pm | Acquisitions

    A Class-A, well performing property outside of Allentown, Pennsylvania, traded to a joint venture between Legend Senior Living and a new capital partner. Alex Florea and Kevin Lukehart of Blueprint handled the transaction. Legend previously operated The Vero at Bethlehem, which opened in July 2023 and stabilized within 18 months. At the time of... Read More »

  • CFG’s Senior Care Financing Activity

    by | Sep 16, 2025 3:32 pm | Financings

    Capital Funding Group financed more than $86 million across six transactions from early to mid-August. The transactions supported two memory care communities, four skilled nursing facilities, and one psychiatric hospital in Missouri, California, Tennessee, Texas and Virginia on behalf of nationally recognized borrowers, one of which is a... Read More »
SLIB Handles DHC’s Latest Divestment

SLIB Handles DHC’s Latest Divestment

by | Dec 1, 2020 4:48 pm | Acquisitions

Diversified Healthcare Trust’s divestment strategy certainly wound down in 2020, but nine more senior living properties have so far sold this year. The most recent closing was for a 137-unit/bed rental CCRC in North Platte, Nebraska, which according to the REIT’s third quarter supplemental report sold for $3.0 million, or $21,900 per unit/bed. Built in stages from 1988 to 1997, the community has grown to include 68 skilled nursing beds in 62 units, 57 assisted living beds in 42 units and 27 independent living one-bedroom units. Occupancy was around 80% in May but began to improve throughout the summer until a COVID outbreak at the end of September.  The non-core property was marketed... Read More »
August Acquisition Volume Light, But Consistent

August Acquisition Volume Light, But Consistent

by | Sep 7, 2020 2:57 am | Acquisitions

Can we call it a comeback when the seniors housing and care M&A market surpassed 20 deals in August? We recorded 21 publicly announced transactions in the month, which is the highest total since April when 22 deals were disclosed. Since April, there have been 20 deals announced in May, 18 in June and 20 again in July. Consistent, yes, but we just still aren’t used to seeing numbers like these after the heady times of 2018 and 2019 when buyers regularly made 40 transactions or more in a month.   Through the end of August, the seniors housing and care M&A market reached 200 deals announced in 2020, so far. Roughly half of that total came in the first quarter, which was... Read More »
Diversified Healthcare Trust Divests Two Managed Communities

Diversified Healthcare Trust Divests Two Managed Communities

by | Aug 11, 2020 10:31 pm | Acquisitions

Diversified Healthcare Trust (DHC) divested a couple of its SHOP assets, both located in Mississippi and operated by Five Star Senior Living under the Hermitage Gardens name. Built around 2000 and renovated in 2005, the properties include a 57-unit assisted living community in Oxford and a 59-unit AL community in Southaven.   DHC acquired them in 2006 for a combined $12.4 million, or $112,700 per unit, and at a 7.5% cap rate. The current purchase price is not known, but in DHC’s second quarter earnings report, the company mentioned selling two managed senior living properties and two MOBs subsequent to the quarter for a combined $5.197 million. An undisclosed private equity firm was the... Read More »
Diversified Healthcare Trust Raises Expensive Debt, Ventas Makes Cuts

Diversified Healthcare Trust Raises Expensive Debt, Ventas Makes Cuts

by | Jun 1, 2020 4:42 am | Financings

Diversified Healthcare Trust Raises Debt Diversified Healthcare Trust tapped the debt markets with a $1.0 billion, five-year senior note offering with a yield of 9.75%. That puts the spread over the 5-year Treasury at about 940 basis points. That has to be the widest spread by a healthcare REIT we have seen in years, if not a decade or two. Proceeds will be used to repay a $250 million term loan expiring in June, as well as to pay down certain amounts outstanding under its unsecured revolving credit facility.   While the REIT certainly has some credit risk, and it did cut its dividend to just $0.01 per quarter to save $33.3 million each quarter, this still seems to be very expensive... Read More »