• Grace Management Adds Five Ventas Communities

    by | Nov 14, 2025 2:25 pm | Acquisitions

    Grace Management expanded its relationship with Ventas, adding five seniors housing communities owned by the REIT to its operating portfolio. The communities were previously managed under a triple-net lease structure. They include Brookdale Lake Shore Drive in Chicago, Illinois, Brookdale Northbrook in Northbrook, Illinois, Brookdale Springs Mesa... Read More »

  • Seller Boosts Census Ahead of Sale to JV

    by | Nov 14, 2025 2:22 pm | Acquisitions

    Senwell Senior Investment Advisors sold Rose Hill Retirement Community, a 66-unit, 87-bed assisted living community in Marion, North Carolina. Originally built as a hospital, Rose Hill has been transformed by the seller over the past two decades into a senior care community. After a previous attempt to sell the community was unsuccessful,... Read More »

  • Joint Venture Buys Orange County Community

    by | Nov 14, 2025 2:21 pm | Acquisitions, Financings

    A high-end seniors housing community in Orange County sold with the help of CBRE National Senior Housing. Aron Will and John Sweeny represented the joint venture seller in the deal, while Will and Matthew Kuronen arranged acquisition financing from a national bank. The loan came with a four-year term, a full term of interest only and a floating... Read More »

  • Developer Secures Construction Financing

    by | Nov 14, 2025 2:20 pm | Developments, Financings

    JLL Capital Markets arranged a $47 million construction financing for The Arbella at Blue Hills, a 164-unit, active adult community to be developed in Bloomfield, Connecticut. JLL worked on behalf of the developer, The United Group of Companies, Inc. (United Group) to secure the construction loan through Liberty Bank of Middletown, Connecticut.... Read More »

  • Midwest-Based Operator Refinances AL/MC Communities

    by | Nov 14, 2025 2:19 pm | Financings

    MONTICELLOAM, LLC, along with firm affiliates, provided a $28.5 million senior bridge financing for two Midwest seniors housing communities. The financing was originated by Karina Davydov, Senior Managing Director, Originations. The sponsor, a Midwest-based operator with a portfolio of over 40 seniors housing and healthcare properties and 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 »