• 60 Seconds with Steve Monroe: Brookdale Senior Living, What’s Next?

    So, the big vote occurred last week, and shareholders of Brookdale Senior Living have spoken. We are sure that the recent increases in occupancy convinced some shareholders to stick with management and its “plan.” But the nominees from activist shareholder Ortelius Advisors were not off-the-wall candidates. It was an excellent group, and despite... Read More »
  • Optalis Healthcare Acquires Michigan Portfolio

    Blueprint was engaged by Michael F. Flanagan, the duly appointed receiver of Spartan Holdco, LLC, et al. and approved by the Oakland County Circuit Court to run a marketing process sourcing qualified overbids for the auction sale of the SKLD (Skilled Living and Development) portfolio. Dubbed Project Spartan, the portfolio comprises eleven skilled... Read More »
  • National REIT Divests to Cougar Capital Management

    Haven Senior Investments facilitated a transaction between a national REIT and a real estate development firm based in Boston, Massachusetts. The seller, Summit Healthcare REIT, divested a seniors housing community in Littleton, New Hampshire, The Village at Riverglen. Built in 2002, The Village at Riverglen features 60 beds across 50 independent... Read More »
  • CFG’s H1 Financing Volume

    Capital Funding Group’s bridge-to-HUD and HUD teams financed more than $930 million across 50 transactions in the first half of 2025. These financings included 14 HUD loans, 21 bridge loans and 15 accounts receivable loans for clients across the country. Managing Director of Real Estate Craig Casagrande originated a few transactions throughout... Read More »
  • Stabilized Class-A IL Community Secures Refinancing

    Greystone arranged a $43.5 million debt placement to refinance a seniors housing community in Oregon. The 142-unit property is a recently built and stabilized Class-A independent living community. The community had strong trailing cash flows, on a shorter trailing period, but an upward trend. The financing was sourced by David Young.  The... Read More »
Five Star Senior Living Rebrands As AlerisLife

Five Star Senior Living Rebrands As AlerisLife

Five Star Senior Living is rebranding itself as AlerisLife Inc. effective immediately. With the name change, the company’s common shares will now trade on the NASDAQ stock market under the ticker symbol “ALR.”  “Aleris” is a Latin word meaning “to foster, nourish and develop,” and is intended to signify the company’s intent to continue fostering, developing and expanding its lifestyle services. It also follows its desire to offer lifestyle services to younger “choice-based” consumers while exiting the skilled nursing business entirely in November 2021. Other recent developments include growing its Ageility rehabilitation and fitness products, entering into a dining services collaboration... Read More »
Five Star Senior Living Exits the SNF Business

Five Star Senior Living Exits the SNF Business

Five Star Senior Living has completed its planned exit from the skilled nursing business by transitioning the operations of 107 properties owned by Diversified Healthcare Trust. Originally, there were 108 properties in the transition, but the parties decided to close one. Five Star will also work with Diversified to close one more property in Delaware. The RMR Group, an alternative asset management company, provides management services to both Diversified and Five Star.   The amended management arrangement with Diversified, first announced this April, will leave Five Star with 140 senior living communities (120 of which are owned by Diversified) and approximately 20,000 units under... Read More »
DHC Transitions Seven More Five Star Properties

DHC Transitions Seven More Five Star Properties

Diversified Healthcare Trust is nearing the complete transition of its operations away from Five Star Senior Living, agreeing to add five assisted living communities in Wisconsin to an existing management agreement with Cedarhurst Senior Living, and two AL communities in Pennsylvania to a new agreement with IntegraCare. The Wisconsin communities total 300 units, while the two Pennsylvania communities have a combined 182 units. Cedarhurst had previously taken over eight properties totaling 486 units in Illinois on behalf of the REIT.  Diversified Healthcare Trust originally had 108 communities in its Five Star portfolio, and is now left with about 10.... Read More »
Several Companies Report August Occupancy Gains

Several Companies Report August Occupancy Gains

Several companies have released occupancy updates for the month of August, and there were some mixed results. However, for the most part, these top players reported large basis-point gains over several months, and even between July and August. This consistency among businesses bodes well for a return to normalcy in the skilled nursing and seniors housing industries. After announcing their agreement to provide Recovery Centers of America with a $325 million mortgage loan this week, Sabra Health Care REIT, Inc. reported occupancy gains across several of their portfolios. Among their top eight skilled nursing operators, they have seen a 554-basis point increase between late December 2020 to... Read More »
Five Star Exits Skilled Nursing Sector in Portfolio Restructuring

Five Star Exits Skilled Nursing Sector in Portfolio Restructuring

Five Star Senior Living is making a complete exit from the skilled nursing sector and restructuring its portfolio to focus more on larger, lower acuity seniors housing properties. It looks like an acknowledgement of the company’s weakness, and its strengths, to focus on what it does best, at a smaller, more manageable size. Its landlord, Diversified Healthcare Trust, agreed to amend its management agreements and transition 108 smaller senior living communities totaling approximately 7,500 units to other operators by the end of the year. DHC will not have to pay a termination fee and will also no longer have the right to sell up to $682 million worth of senior living communities... Read More »