• Senex Foundation Divests SNFs to Owner/Operator

    Vince Viverito, Jason Punzel, Jake Anderson and Taylor Graham of Senior Living Investment Brokerage were engaged by Senex Foundation, a Denver, Colorado-based owner/operator, to help with the disposition of a four-property portfolio and recently closed the second tranche involving two skilled nursing facilities in Nebraska. The deal included the... Read More »
  • 60 Seconds with Swett: The REITs’ Acquisition Appetite

    With most of the Q1 earnings results in, we’ve been sifting through a lot of good news on occupancy growth, resident rate increases, expanding NOI margins and the phenomenal long-term outlooks. But our main takeaway had to be the major M&A plans that almost every publicly traded company has completed so far this year and plans to close... Read More »
  • Sonida Senior Living Reports Q1 as CNL Deal Reshapes Portfolio

    Sonida Senior Living reported its first quarter results after becoming the eighth largest seniors housing owner toward the close of the quarter. The company completed its acquisition of CNL Healthcare Properties, a public, non-traded REIT that owned 69 seniors housing communities, bringing Sonida’s owned portfolio to 153 owned properties and... Read More »
  • Alta Senior Living Secures Refinance

    At the end of 2021, Alta Senior Living acquired Tequesta Terrace Senior Living (at that time, Village of Tequesta, Tequesta Terrace), a 106-unit assisted living/memory care community in Palm Beach County, Florida. After executing its value-add capex, operational turnaround and lease-up plan, Alta engaged Blueprint to run a full debt process. A... Read More »
  • All-Cash Skilled Nursing Deal Closes

    An undisclosed buyer acquired a 99-bed skilled nursing facility in Ohio through an all-cash transaction after the seller’s senior lender pushed for an exit. Stan Klos III of 3G Healthcare Real Estate handled the deal. An initial buyer walked away from the deal after a conversion from a lease-only structure was declined by the lender. Another... Read More »
CBRE Sells A Second First Centrum Independent Living Community

CBRE Sells A Second First Centrum Independent Living Community

CBRE sold another First Centrum independent living community in Virginia, a couple of years after selling the developer’s 118-unit Glen Allen (Richmond MSA) community for $25.88 million, or $219,280 per unit. The latest deal featured a 120-unit community in Williamsburg. Built in 2010 by First Centrum, it features a range of unit options, from 660- to 940-square foot one bedroom units to 880- to 1,267-SF two-bedroom suites. Current asking rents start at around $2,200 for the one-bedrooms and go up to about $2,900 for two bedrooms. Operations were strong, with a near-50% margin, and it was well-occupied, at 94%, which was certainly helped by the property’s location near historic Colonial... Read More »

Wolff eyes seniors housing

Another major multifamily developer is getting into the seniors housing industry. In the past year, we have seen a number of either private equity groups or real estate developers, all with experience in the multifamily market but not so much in seniors housing, dip their toes (some more like cannonballed) into seniors housing development, including Drever Capital Management, Alliance Residential and Validus Group. Now, Scottsdale, Arizona-based The Wolff Company announced its plans to develop six independent/assisted living communities with 858 units throughout the Western United States. To build up its seniors housing team, in March 2014 Wolff brought on Mike Milhaupt, who has over 20... Read More »