• Q2 Senior Care M&A Falls To Seven-Year Low

    Well, we can’t say we aren’t surprised. COVID-19 and the economic ramifications stemming from social distancing and quarantine measures took a toll on seniors housing and care M&A, leaving the sector with just 59 publicly announced transactions in the second quarter. Back in early April, we said the second quarter’s deal total would... Read More »
  • Senior Living Investment Brokerage Announces Four Closings

    The floodgates opened at Senior Living Investment Brokerage. Just as we entered July, the firm announced four closings for three skilled nursing facilities and a memory care community. Jason Punzel, Brad Goodsell and Vince Viverito first represented a local owner/operator in their sale of a 59-unit memory care community in Springfield, Oregon... Read More »
  • Blueprint Handles Large Pacific Northwest Disposition

    Amy Sitzman, Dan Mahoney and Blake Bozett of Blueprint Healthcare Real Estate Advisors handled the sale of eight small assisted living communities divided evenly between Washington and Oregon. News of the deal came out in June with two separate acquisition financing announcements from JD Stettin of Carnegie Capital, the first for the Oregon... Read More »
  • Returning Home To Assisted Living

    After being pulled out of her assisted living community because of the pandemic, a mother asks to return “home.” In the June issue of The SeniorCare Investor we wrote about how an industry professional lost the argument with his younger sister about moving their mother out of her assisted living community and into the sister’s home.... Read More »
  • Fairstead Acquires Another Section 8 Senior Apartment Community

    It’s been less than a month since Fairstead, a fully-integrated real estate firm focused on the development, acquisition and operation of affordable and mixed-income housing, purchased a 123-unit affordable senior apartment complex in Sunrise, Florida. But, the firm is doubling down on its strategy and acquired another complex in South Florida. ... Read More »
PGIM Finances Virginia Community Through Fannie Mae

PGIM Finances Virginia Community Through Fannie Mae

After closing a scattered site HUD loan for a portfolio of three assisted living communities in Maryland, PGIM Real Estate stuck with the agency financings by closing a $19 million Fannie Mae refinance of a senior living community in Hardy, Virginia (Roanoke MSA). Built in 2009 and recently expanded, the 102-unit community has independent living, assisted living and memory care services along with a host of amenities, including membership to the nearby Carillon Wellness at West Lake, a wellness center with an indoor pool, group exercise classes and a gym. The expansion featured 37 new units and was overseen by the operator, Runk & Pratt Senior Living Communities.  Chris Fenton led the... Read More »
Berkadia Shows Variety With Latest Four Financings

Berkadia Shows Variety With Latest Four Financings

Berkadia recently closed four separate financings for a total of 10 properties, with a range of purposes from refinances to acquisition financing to a construction loan. First, Ed Williams secured a $5.5 million Fannie Mae refinance for a 51-unit assisted living/memory care community in Georgia. Built in two phases, the latter of which completed in 2008, the community was historically occupied above 90%. Its Southeast-based owner obtained 10-year term, two years of interest only and was able to take advantage of the Streamlined Early Rate Lock option to refinance its existing HUD debt and capture trapped equity in the property. With those funds, they will be able to pursue other... Read More »
Two Industry Veterans Launch New Finance Firm

Two Industry Veterans Launch New Finance Firm

Seniors housing industry veterans Kass Matt and Steve Kennedy, formerly of Lancaster Pollard, have launched a new finance venture, VIUM Capital. It probably wasn’t the timing they were picturing, but a new lender in the senior care world can only help right now.  The company is an independent financial service firm that will be exclusively focused on providing capital to the seniors housing and healthcare sectors, offering HUD/GNMA financing, bridge loans, Fannie Mae/Freddie Mac loans (as a corresponding lender) and advisory services. The business is up and running across all product lines, and their bank partner will support VIUM’s bridge loan offering. Municipal advisory services for... Read More »
Lancaster Pollard’s Recent Fannie Mae Activity

Lancaster Pollard’s Recent Fannie Mae Activity

Lancaster Pollard secured two Fannie Mae financings for senior living clients across the country. The first was an $11 million fixed-rate loan provided to a senior living community in Dover, Pennsylvania (York County). Featuring a mix of independent living, assisted living and memory care services, the one-story community has amenities such as gazebos, walking paths, a café and therapy suite offering occupational, physical and speech therapies. Miles Kingston, Doug Harper and Casey Moore led the transaction. Then, Messrs. Moore and Harper were joined by Grant Goodman to arrange a $7.2 million loan for a memory care community in Edmonds, Washington (Seattle MSA). Operated by Northwest Care... Read More »
Greystone Funds Harbert’s Acquisition of California Community

Greystone Funds Harbert’s Acquisition of California Community

Harbert Seniors Housing Fund II, L.P. has acquired a 134-unit senior living community in Rocklin, California thanks to a Fannie Mae financing arranged by Greystone. Built in 2015 and operated by Merrill Gardens, this community operated with independent living, assisted living and memory care units, with a licensed capacity of 142 residents. Merrill Gardens will be a joint venture partner in the community, in addition to continuing as operator. The $37 million structured adjustable rate mortgage loan comes with a 10-year term and five years of interest only. Read More »