• Berkadia Announces Array of Closings

    by | May 15, 2026 11:41 am | Acquisitions

    Berkadia is riding a transaction hot streak, closing 19 property sales in the last 45 days. The activity included a portfolio featuring five assisted living/memory care communities across Utah, Wisconsin and Minnesota sold to Jaybird Capital, an affiliate of Jaybird Senior Living, through HUD assumptions. Jaybird assumed management of the... Read More »

  • Tremper Capital Group Closes Several Financings

    by | May 15, 2026 11:40 am | Acquisitions, Developments, Financings

    Tremper Capital Group showed off its variety with a series of financings closed for clients across the country. They included a construction loan, an acquisition loan, a bank refinance and a portfolio financing. First, the team closed non-recourse construction financing for an assisted living/memory care community in the Dallas-Fort Worth area.... Read More »

  • Upstate New York SNF Trades Between Not-for-Profits

    by | May 15, 2026 11:39 am | Acquisitions

    Joe Knapp of the Knapp-Stahler Group at Marcus & Millichap handled the sale of a skilled nursing facility in upstate New York. The Center For Nursing And Rehab in Hoosick Falls, New York, comprises 82 beds in a single-story building that sits on four acres. It was built in 1954, but renovated in 1979 and 1995.  Apparently, the facility... Read More »

  • Acquisition Financing Closed for Distressed California Community

    by | May 15, 2026 11:37 am | Acquisitions, Financings

    Private debt fund and direct commercial real estate lender Wilshire Finance Partners closed an $8.15 million first lien bridge loan for the acquisition and repositioning of a distressed seniors housing community in California. The financing included reserves specifically allocated for capital improvements and operational support during the... Read More »

  • Developer and Operator Secure Construction Financing

    by | May 15, 2026 11:36 am | Developments, Financings

    Another new development will soon be underway, with BLDG Real Estate and The Fellowship Family securing financing for a $100 million full-continuum community, Fellowship Wildlight. BLDG Real Estate is a real estate development firm that specializes in design, development and asset execution across multiple product types. The Fellowship Family is... 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 »