• 60 Seconds with Steve Monroe: Record M&A Year, Again

    You may start to get tired of hearing us talk about all the records being set, but we will never tire of it. As of November 11, we have passed last year’s record of total acquisitions in the seniors housing and care sector, now standing at over 720 deals, according to LevinPro LTC. And we thought last year was an amazing year! The good news is... Read More »
  • Regional Owner/Operator Acquires in North Carolina

    A skilled nursing facility with 130 beds recently sold in North Carolina. It was 53% occupied and not stabilized at the time of sale. According to LevinPro LTC, the purchase price was one of the highest per-bed prices we have seen in the state, at $21 million, or $161,500 per bed. The seller, a North Carolina-based owner/developer that had owned... Read More »
  • Tennessee Community Trades in Receivership Sale

    Blueprint recently announced a few closings involving a prominent lender and special services seller. The first was in Raleigh, North Carolina, and was handled by Kyle Hallion, Kory Buzin and Steve Thomes. Buzin and Thomes facilitated the second deal, selling Knollwood Point in Mobile, Alabama. The pair also sold The Pointe at Kirby Gate in... Read More »
  • Northeast-Based Owner/Operator Expands in Georgia

    Daniel Geraghty, Bradley Clousing and Nick Cacciabando of Senior Living Investment Brokerage were engaged in the sale of a skilled nursing facility with 100 beds in College Park, Georgia. At the time of sale, the facility was operating at a loss. The seller was a national owner of long-term care and seniors housing assets across the country, and... Read More »
  • Provident Bank Funds Portfolio Refinance and Recapitalization

    Tom Cassidy of Provident Bank’s Healthcare Lending team provided funding to a regional owner/operator in the Southeast. The new client, a family business, secured a $29.84 million portfolio refinance and recapitalization of four stabilized seniors housing communities in Florida. The well-performing portfolio totals more than 250 units across a... Read More »
Grandbridge Goes Green, Again

Grandbridge Goes Green, Again

Utilizing Fannie Mae’s Green Rewards financing product, Richard Thomas and Meredith Davis of Grandbridge Seniors Housing and Healthcare Finance Group arranged a $25.5 million acquisition loan to fund the purchase of a 93-unit assisted living/memory care community in Alpharetta, Georgia. Focus Healthcare Partners’ dedicated senior housing fund was the borrower and will retain The Arbor Company as the community’s operator. This type of transaction seems to have become a recent specialty of Grandbridge’s, as the firm so far in 2018 has closed nearly $300 million in financings through Fannie Mae’s Green Rewards program, across 13 properties, which is the most among Fannie Mae DUS lenders... Read More »
CBRE Closes Five Financings

CBRE Closes Five Financings

Aron Will of CBRE showed off his strength and variety this month, closing five transactions so far in May. First was a $10.2 million Freddie Mac loan arranged on behalf of Chicago Pacific Founders to acquire a 100-unit independent living/assisted living community in Easley, South Carolina. The loan came with a seven-year floating-rate term and 42 months of interest only. Mr. Will also arranged acquisition financing for a global investment manager for its purchase of two assisted living/memory care communities in Cincinnati, Ohio and Salt Lake City, Utah. Both were originally developed by CA Ventures in partnership with another institutional equity partner and Senior Lifestyle Corporation.... Read More »
Capital One Bridges to Agency Financing

Capital One Bridges to Agency Financing

Capital One pulled double duty for its client, Healthcare Trust (HTI), arranging more than $145 million in total financing. First, back in December, the firm served as administrative agent and sole lender for an $82 million senior secured credit facility, which provided bridge-to-agency financing for a 23-property seniors housing portfolio located in six states (primarily Michigan and Iowa) in just five weeks. Fast forward to this month, when Capital One added seven of those properties to HTI’s existing Fannie Mae credit facility. The transaction increased the total facility by $64.2 million, to $216.6 million. Read More »
Generations Senior Living Gets Green to Go Green

Generations Senior Living Gets Green to Go Green

Walker & Dunlop successfully structured an $82.077 million loan under Fannie Mae’s Green Rewards loan program, the first for a seniors housing property in the program’s history. Jeff Ringwald and Bill Jackson led the Walker & Dunlop team to structure a 10-year loan with two years of interest only and a 30-year amortization schedule to enable the repeat W&D borrower, Generations Senior Living, to refinance a previous construction loan and obtain cash-out for the financing of an adjacent newly developed memory care community when stabilized. Also, by utilizing the Green Rewards program, the 394-unit community in National City, California (San Diego MSA) received a lower interest... Read More »
Berkadia Closes In On $2 Billion Year

Berkadia Closes In On $2 Billion Year

Heidi Brunet and Chris Fenton of Berkadia wrapped up their holiday season with a couple of financings for assisted living providers, bringing Berkadia Commercial Mortgage’s 2017 total to nearly $2 billion in loan production. First up, Ms. Brunet arranged a $25.6 million Fannie Mae loan, with a 10-year term and fixed interest rate, for a new borrower. The loan financed a portfolio of four assisted living/memory care communities all built in the early 2000s and totaling 288 units. Second, Chris Fenton worked on behalf of a joint venture (which included a New England-based operator) to finance their acquisition of a 54-unit assisted living/memory care community in New Hampshire. The $25.2... Read More »