• Another Institutional REIT Joins the Mix

    Another well-capitalized institutional REIT is stepping into the fray, adding fuel to an already aggressive bidding environment for seniors housing. And based on its initial acquisitions, with one closed at more than $1 million per unit, the target seems to be high-quality assets. The bidding environment and prices are already strongest in that... Read More »
  • Distressed AL/MC Community Gets New Owner

    Scott Frazier, Kory Buzin and Steve Thomes of Blueprint advised a special servicer in the seniors housing sector on the sale of Spanish Vines, a well-maintained assisted living/memory care community. It sits in a densely populated Pocket-Greenhaven neighborhood of southwest Sacramento, California. The 88-unit community was generating negative... Read More »
  • Underperforming Community Sells and Secures Financing

    A buyer recently acquired an underperforming seniors housing community in Charleston, South Carolina, and Blueprint Capital Markets secured the debt financing. Blueprint also represented the undisclosed seller in its divestment. The asset comprises 84 units of assisted living and memory care. There is room for occupancy growth and expense cuts,... Read More »
  • Standalone MC Communities Secure Acquisition Financing

    Berkadia recently announced three financings on behalf of three different sponsors. In one of the closings, Steve Muth and Ed Williams arranged $25.8 million in acquisition financing for Peregrine Senior Living at Clifton Park and Peregrine Senior Living at Orchard Park. The bridge financing was provided through Berkadia’s Proprietary Lending... Read More »
  • A Flurry of Deals Cross the Finish Line

    As part of Senior Living Investment Brokerage’s nine separate closings at the start of May, there were a couple of skilled nursing sales. First, Nick Cacciabando and Matthew Alley represented a local group of investors in the sale of a 60-bed skilled nursing facility in Ottumwa, Iowa. The investor group operated the facility themselves, and it... Read More »
The Members Breakfast with Alan Butler

The Members Breakfast with Alan Butler

On May 4th, 2017, we hosted the seventh installment of The SeniorCare Investor Members Breakfast at The Princeton Club in New York City. Our special guest at the subscriber-only event was Erickson Living CEO, Alan Butler.  For 45 minutes, Mr. Butler sat down with our Editor, Steve Monroe, to discuss his joining Erickson in 2010, the company’s emergence from bankruptcy, and the future of the CCRC model. Subscribers can watch the discussion below.... Read More »
The Audience Has Spoken

The Audience Has Spoken

On April 27, The SeniorCare Investor’s Steve Monroe moderated a webinar entitled “Investing in the CCRC and Independent Living Market,” with panelists Breck Collingsworth of Resort Lifestyle Communities, Adam Kane of Erickson Living and Rick Swartz of Cushman & Wakefield. During the wide-ranging 90-minute discussion, which you can listen to here, the panel tackled CCRC valuations, cap rates, the IL/CCRC development market, whether these property types will suffer in the next recession as much as the last one. We also brought in the audience a few times to get their insight. First, we asked which property should have a higher cap rate, 100% independent living or a mix of IL, assisted... Read More »

Erickson Living’s third CCRC in New Jersey—underway and selling well

Construction is underway on Lantern Hill, Erickson Living’s new, 540,000-square-foot CCRC on 21 acres in New Providence, New Jersey—about 20 miles west of New York City. This will be Erickson’s 18th senior living community and its third in northern/central New Jersey. Upon completion, Lantern Hill will have five interconnected buildings that comprise 275 independent living apartments (one- and two-bedroom units) and 85 continuing care residences that offer assisted living, memory care, long-term care, and short-term rehabilitation. Residents will enjoy a fitness facility with an indoor swimming pool, along with a wide range of services and amenities, such as restaurants, housekeeping, and... Read More »