• Public REIT Lands Portfolio in Competitive Sale

    A portfolio of Class-A seniors housing communities sold in the Southeast to an undisclosed publicly traded REIT. Featuring six assets in Georgia and South Carolina, the portfolio totaled 156 independent living, 200 assisted living and 70 memory care units. The communities were built between 2017 and 2022 by a Southeast-based developer. Occupancy... Read More »
  • Regional Owner/Operator Acquires Ocala AL Community

    The third and final asset in the Hampton Manor portfolio has sold with the help of Brad Clousing and Dan Geraghty of Senior Living Investment Brokerage. Hampton Manor Deerwood in Ocala, Florida, was built in 2005 and expanded in 2016 to now feature 61 units of assisted living. The property is stabilized, so the new owner can hit the ground... Read More »
  • Second Generation Operator Divests SNF Portfolio to PE Firm

    A Northeast-based private equity firm engaged Daniel Morris of Plains Commercial Real Estate in its plan to enter a new state. The firm has an existing skilled nursing footprint, and had specific acquisition criteria, which narrowed the focus down to a few potential targets.  The company ultimately acquired a five-facility, 506-bed skilled... Read More »
  • CIBC Springs Ahead with Deal Flow

    CIBC has been hard at work this Spring, successfully closing several acquisition financings for senior care clients across the country. The largest was a $51.5 million term loan that supported the purchase of four skilled nursing facilities in Illinois totaling 586 beds. Historical performance trended positively over the last two years across the... Read More »
  • National Healthcare Properties Kicks Off IPO Push

    National Healthcare Properties, Inc. launched its public offering of 38.5 million shares of its Class A common stock pursuant to a registration statement on Form S-11 filed with the SEC. The initial public offering price is expected to be between $13.00 and $16.00 per share, and the company expects to grant the underwriters a 30-day option to... Read More »
Plainview Group Affiliate Acquires Akron Skilled Nursing Facility

Plainview Group Affiliate Acquires Akron Skilled Nursing Facility

The team at Dwight Capital helped provide a $6.8 million bridge loan to fund the acquisition of a skilled nursing facility in Akron, Ohio. Originally built in 1984 with 174 beds, the facility was significantly renovated in 2008, and its bed count has decreased to 120 beds. It currently offers short-term rehabilitation, occupational therapy, respiratory care, trach care and behavioral care. An entity affiliated with the Plainview Group emerged as the buyer. According to our database, the facility previously sold in 1993 for $5.9 million, or about $34,000 per bed, a relatively high value back then. With the lower bed count and a loan-to-cost of 85%, the per-bed value rises to more than... Read More »
Dwight Capital’s Active Fourth Quarter

Dwight Capital’s Active Fourth Quarter

Dwight Capital reported a very active fourth quarter, with more than $116 million of HUD and bridge loans closed for senior living and skilled nursing clients. One of the largest transactions saw Adam Sasouness and Adam Offman finance a $16.5 million bridge loan for a 375-bed skilled nursing facility in Oklahoma City, Oklahoma that features both short- and long-term rehabilitation, a secure memory care unit and a recently renovated dialysis unit. Mr. Offman also originated a pair of bridge loans in Rhode Island, including $16.4 million for a 167-bed assisted living/memory care/skilled nursing facility in Greenville and an $8.16 million loan for a 100-bed SNF in Pascoag. Another highlight... Read More »
Dwight Capital Refinances Large New Jersey SNF

Dwight Capital Refinances Large New Jersey SNF

A skilled nursing facility in Cherry Hill, New Jersey (Philadelphia MSA) with a wide variety of service offerings, just refinanced through HUD with the help of Dwight Capital. Built in phases from 1986 to 2002, it now totals 246 beds with five distinct units, including a 40-unit behavioral management unit, a 20-bed ventilator care unit, a substance abuse facility and a dialysis unit, in addition to providing short- and long-term rehabilitation and nursing care. Its clinical specialties also comprise physical, occupational, speech and IV therapies, wound care, pain management, tracheostomy care, dementia care, cardiac care, a pulmonary specialty and hospice care. In addition, there are... Read More »
Dwight Capital Closes Cash-Out Loan

Dwight Capital Closes Cash-Out Loan

Dwight Capital arranged a cash-out refinance for the owners of a 106-bed skilled nursing facility in Pikeville, Kentucky, paying off an acquisition loan that Dwight financed in 2018. Built in 1970 less than a mile from the 250-bed Pikeville Medical Center, the facility was previously owned by a publicly traded REIT and operated by Signature HealthCARE. It was well-maintained and over 90% occupied, but escalating liability insurance costs caused cash flow problems. A partnership between an investor and an operator emerged as the buyer, and both entered the Kentucky market with the acquisition. The facility also was subject to a ground lease owned by a group of local investors. Blueprint... Read More »

Dwight Capital Arranges Loan for Long Island Facility

Dwight Capital followed up on a productive Spring to close a bridge loan for a Long Island assisted living community. Sitting on over eight acres in Port Jefferson Station, this community features 181 beds of Medicaid-funded assisted living on the same campus as a 143-bed skilled nursing facility. Kevin Lifshitz from Dwight Capital closed a $12.8 million bridge loan for the community. Read More »