• SLIB’s Red-Hot Start to May

    Senior Living Investment Brokerage shot out of the gates in May, announcing six separate closings within just a couple of days. The closings included a couple of portfolios, two seniors housing asset sales and two skilled nursing deals. SLIB is on track for another record-breaking year. The largest deal was an eight-property seniors housing... Read More »
  • Independent Living Asset Near Breakeven Changes Hands

    Blueprint handled the sale of a 60-unit independent living community located just outside of Cleveland, Ohio. At the time of sale, the property was operating around breakeven and offered the opportunity for upside. The option to transition the community to an assisted living waiver model was presented, but the incoming regional owner/operator... Read More »
  • National Health Investors Leans Further Into SHOP Growth

    National Health Investors is continuing to lean into its SHOP segment, having invested $742.5 million into the strategy throughout the first quarter, a 106% increase from the prior year period. Year-to-date, the REIT has announced $212.4 million of investments, and is continuing to evaluate additional opportunities, focusing on private pay... Read More »
  • Senior Care Portfolio Secures Refinancing

    T7 Capital, a boutique seniors housing and healthcare advisory firm founded by industry veterans Ari Adlerstein and Josh Simpson, recently arranged a large bank refinancing for a portfolio of seniors housing and skilled nursing assets in Massachusetts. Working on behalf of a New York-based family office, T7 secured a $57.979 million loan from... Read More »
  • Regional Bank Provides Financing for MC Community

    Jeremy Warren of Montgomery Intermediary Group arranged a refinancing for a client’s 48-unit memory care community in Merrillville, Indiana. Originally built in 2016, the community was stabilized and had an approaching debt maturity. The owner sought to retire both the existing bank debt and an outstanding seller note from the initial... Read More »
CBRE Does Deal Double

CBRE Does Deal Double

The CBRE National Senior Housing group flexed its muscles this week, closing two acquisition financings and an asset sale. First, Lisa Widmier represented HCP in its divestment of a 159-unit independent living/assisted living community in Beaumont, Texas, for an undisclosed price. Featuring a majority of independent living units, the community was built in 1996. Under management by Atria Senior Living, it was 93% occupied as of February. Chicago Pacific Founders stepped in as the buyer, through its affiliate CPF Living Communities, and hired Grace Management to operate. Then, in comes CBRE’s Aron Will, who secured a seven-year floating rate loan, with 24 months of interest only, through... Read More »
Chicago Pacific Founders Acquires Jacksonville Assisted Living Community

Chicago Pacific Founders Acquires Jacksonville Assisted Living Community

After already buying a 124-unit assisted living community in Cincinnati, Ohio this month, Chicago Pacific Founders added another community to its portfolio in December, this time in Jacksonville, Florida. The private equity firm acquired a 189-unit senior living community, with independent living, assisted living and memory care services, in a newly developed residential section of Jacksonville, nearby dining, shopping, medical facilities and, of course, the beaches. Like in all of its transactions, Chicago Pacific Founders hired Grace Management to operate the community. Read More »
CBRE Finds Financing With Freddie Mac

CBRE Finds Financing With Freddie Mac

Aron Will of CBRE worked with Freddie Mac for his two latest transactions, and crisscrossed the country to do so. First, with Andrew Behrens of CBRE Multifamily Institutional Group, Mr. Will closed a $29.8 million financing for a 144-unit senior living community in Escondido, California (San Diego MSA). Purchased in 2012 by Westmont Living, the community underwent a three-year capital improvement project that involved adding a 22-unit memory care wing. It clearly worked, as occupancy stands at 92% for the property. Westmont received a 10-year, fixed-rate loan with 60 months of interest only payments. Then, to Cincinnati, Ohio, where Mr. Will arranged acquisition financing (again through... Read More »
Chicago Pacific Founders All-In in Las Vegas

Chicago Pacific Founders All-In in Las Vegas

For the third time in the firm’s three-year history, Chicago Pacific Founders is acquiring a senior living community in the Las Vegas market, with the help of financing arranged by Aron Will of CBRE. Located about 13 miles west of the Strip (and 3.5 miles northwest of Spring Valley Medical Center), the community features 160 units of about 80% independent living and 20% assisted living. Built in 1999, it will be operated by Grace Management, which believes it can improve on the census and operations. Mr. Will originated a $13.5 million Fannie Mae loan, with a seven-year term and 3.5 years of interest only, on behalf of CPF’s private equity arm, CPF Living Communities. One of CPF’s other... Read More »

Purchase from Pardoll

The tenant of a 64-bed skilled nursing facility in Jackson, Tennessee made the move to acquire the building from another private individual, at a cost of $3.25 million, or $50,781 per bed. Built in 1955 with an addition in 1989, this facility was 87% occupied and operated at a 14% margin with Grace Management in charge of day-to-day operations. Mike Pardoll of Marcus & Millichap handled the transaction. Read More »