• Public REIT Purchases Texas Class-A Seniors Housing

    by | Apr 23, 2024 3:56 pm | Acquisitions

    Blueprint was engaged in the divestment of a Class-A seniors housing community in San Antonio, Texas. Built in two phases in 2011 and 2017, Franklin Park TPC Parkway comprises 269 independent living, assisted living and memory care units. Following the completion of a six-year freeway expansion project that affected leasing, access to the... Read More »

  • Eads Sells Its 24th & 25th Missouri Community

    by | Apr 23, 2024 3:54 pm | Acquisitions

    Patrick Byrne of Eads Investment Brokerage facilitated the divestment of two seniors housing communities in Missouri. This marks the 24th and 25th communities sold in Missouri for Eads. The Moberly community (which we believe to be Mark Twain Assisted Living) comprises 35 assisted living/independent living units and sold for $2.57 million, or... Read More »

  • 60 Seconds with Swett: CMS Raises the Minimum Staffing Mandate

    by | Apr 23, 2024 3:48 pm | 60 Seconds

    On Monday, CMS came out with its final minimum staffing standards for nursing homes, but the eventual outcome is anything but final. Despite the outcry from nursing home providers from the previous proposed mandate of three hours per resident per day, asking simple questions like how can we pay for this and where will this newly needed staff come... Read More »

  • More Shareholder Activism

    by | Apr 22, 2024 9:04 am | Opinion

    Fresh from its success in getting two people voted onto the Ventas Board of Directors, Land & Buildings is at it again, this time with National Health Investors. Like all the REITs, NHI’s managers and tenants had their share of problems during the pandemic. Who didn’t? Most of these issues are behind it, but the REIT could be in even stronger... Read More »

  • Active Adult Expansion A Hit With Investors

    by | Apr 22, 2024 9:02 am | Developments

    How often have we heard that new development is dead? Or that CCRCs (LPCs) are on their way out? Too often. But how often do you hear about an Active Adult expansion on a CCRC campus, and one with entrance fees? Not often enough. That didn’t stop Three Pillars Senior Living Communities and Cain Brothers from putting together a plan that may... Read More »
Ziegler & M&T Realty Refinance Nebraska IL Community

Ziegler & M&T Realty Refinance Nebraska IL Community

by | Jun 18, 2021 9:56 am | Financings

Ziegler and M&T Realty partnered to refinance an independent living community in Kearney, Nebraska, that is owned by Omaha-based Essex Communities. Built in 1992, the community has 34 units and was 100% occupied at closing. Essex bought it in 2018 and immediately commenced substantial renovations, which were completed in 2019.   To reimburse its capital expenditure investments, extract equity and take out debt from a local lender that the company used to acquire the community, Essex relied on Ziegler to arrange a $4.37 million loan from Fannie Mae. The 10-year loan came with a fixed interest rate and two years of interest only, followed by a 30-year amortization period. It was... Read More »
Are More Capital Senior Living Problems Coming Due?

Are More Capital Senior Living Problems Coming Due?

by | May 14, 2021 9:49 am | Opinion

Capital Senior Living released its first quarter earnings this week, and the results were sort of a mixed bag. Of course, the occupancy results were great news, with April average census rising 140 basis points from the Q1 average to 76.95%. And spot occupancy increased from 75.3% at the end of February to 78.5% by the end of April, for a 320-basis point increase. We’re not sure if we’ve seen a steeper increase. About 93% of residents are now vaccinated, COVID cases fell to zero across the 60 owned communities, and 100% of communities are open to new residents, so the runway to recovery is smoother.   Looking forward, CSU will also not be encumbered by the 39... Read More »
CBRE Closes Two Financings

CBRE Closes Two Financings

by | Apr 28, 2021 9:18 am | Financings

CBRE has secured a couple of financings for seniors housing clients on opposite sides of the country. First, in the Northeast, the team of Aron Will, Austin Sacco and Matthew Kuronen arranged a Fannie Mae loan to refinance a 269-unit rental CCRC located near Providence, Rhode Island. The property received a $39 million loan, or $145,000 per unit, with a seven-year term, fixed interest rate and two years of interest only.  The same CBRE team also arranged construction financing for a to-be-built seniors housing community in Portland, Oregon. Set in a 16-story high-rise in the city’s Pearl District, the community will feature 177 independent living, 77 assisted living and 20 memory care... Read More »
M&T Realty Closes Chicagoland Refinance

M&T Realty Closes Chicagoland Refinance

by | Mar 30, 2021 5:16 pm | Financings

M&T Realty Capital Corporation provided a $15.145 million Fannie Mae loan to refinance an 80-unit active adult community in St. Charles, Illinois (Chicago MSA). Steven Muth and Matthew Pipitone led the financing for M&T, while Eric Johnson of Ziegler arranged the deal. The loan came with a 10-year term and a fixed interest rate below 4.00%. It was structured with five years of interest-only payments, followed by a 30-year amortization schedule. Also, the loan carried a declining prepayment schedule, which provides the borrower, who remains undisclosed, additional flexibility in future years.  The community being refinanced was extremely well occupied... Read More »
Lument Arranges Fannie Mae Refinance

Lument Arranges Fannie Mae Refinance

by | Feb 4, 2021 5:11 pm | Financings

Lument recently arranged a $28 million refinance through Fannie Mae for a 105-unit independent living/assisted living community in Solana Beach, California (San Diego MSA). The loan features a 10-year term, five-years of interest only and a 30-year amortization. Plus, the borrowers, Senior Resource Group and its equity partner Collins Development Company, were able to obtain substantial cash-out proceeds. Doug Harper led the transaction.  Read More »