• Interview with Bryan Lockard of JLL Value and Risk Advisory

    Ben Swett, Managing Editor of The SeniorCare Investor, sat down with Bryan Lockard of JLL Value and Risk Advisory to discuss JLL’s 2024 Seniors Housing and Care Investor Survey and Trends, which you can download here. Read More »
  • Wow…Sonida Senior Living

    The last company in our sector, Sonida Senior Living, finally reported fourth quarter and full-year 2023 earnings, and while pretty good, that was not even the story. The story started four weeks ago. In February, the company announced a series of capital transactions which reduced their debt, raised some equity, and provided liquidity to take... Read More »
  • Marcus & Millichap Arranges SNF Leases

    After purchasing four senior care campuses in a large portfolio deal, a seniors housing owner/operator turned to Marcus & Millichap to find new tenants for the skilled nursing portions of each newly acquired campus. Each building was losing close to $1 million annually and had struggled with occupancy and expenses.  While the portfolio... Read More »
  • LSS Absorbs Diakon

    Two large not-for-profits announced that they were combining to create the 12th largest not-for-profit senior living organization in the country. Lutheran Senior Services, based in St. Louis, Missouri, signed an agreement to bring Diakon Senior Living operations and four CCRCs under its umbrella. Both organizations were described by Adam Marles,... Read More »
  • SNF Under Receivership Is Acquired in Kansas

    Marcus & Millichap was brought on by a limited liability company in the sale of a skilled nursing facility in Topeka, Kansas, that was under receivership. The facility, Providence Living Center, comprises 78 beds across 24,000 square feet and focuses on senior residents with mental health needs. Rod Llanos and Colby Haugness handled the... Read More »
California SNF Acquisition Gets Financing from Harborview

California SNF Acquisition Gets Financing from Harborview

An experienced private investment group acquired a portfolio of six skilled nursing facilities thanks to bridge financing at 90% loan-to-cost. Totaling $51.9 million, the three-year loan was originated by Jonathan Kutner and Eli Kutner of Harborview Capital Partners, and negotiated by Robert Kellerman. The acquired facilities combine for 678 beds and are located throughout California. Read More »
Harborview’s HUD Haul

Harborview’s HUD Haul

Despite the backlog caused by the government shutdown earlier this year, Harborview Capital Partners’ HUD pipeline has been particularly active lately, totaling over $46 million in two March transactions. The larger transaction featured a $23.9 million loan closed on behalf of a brand-new 180-bed skilled nursing facility in Middlesex County, New Jersey. The team then closed a $22.25 million HUD loan for a 164-bed SNF in Chicago, Illinois. In addition, Harborview flew down to sunny Florida to arrange two transactions for assisted living clients. First, for a 136-bed community on the Gulf Coast of Florida, they closed a $6.7 million loan with a five-year term, 20-year amortization and 12... Read More »
Ohio Owner Heads Into Retirement With Sale

Ohio Owner Heads Into Retirement With Sale

The Buffalo, New York-based owner of two assisted living communities in Ohio decided it was time to retire and hired Eli Kutner and Avi Begun of Harborview Capital Partners to negotiate a successful exit. Located down Lake Erie in the Cleveland area, the communities total 250 units and 264 beds, including some memory care units. A regional operator looking to grow their portfolio paid $26 million, or $104,000 per unit, for the pair. Read More »
Is the SNF Market Bottoming Out?

Is the SNF Market Bottoming Out?

On September 27, our Editor Steve Monroe and a panel of experts that included Ryan Chase of Blueprint Healthcare Real Estate Advisors, Eli Kutner of Harborview Capital Partners and Stefan Oh of American Healthcare Investors, debated an important question: is the skilled nursing market approaching a bottom? And if it is, how do we value those facilities considering Medicare Advantage plans are shortening lengths of stay, Medicaid reimbursement dollars are getting squeezed and SNF censuses across the country are steadily declining? After hitting a peak of nearly $100,000 per bed in 2016, SNF values have dropped off about 20%. But demand is still high, and new buyers (big buyers) are hitting... Read More »
$196 Million HUD Refinance Closed By Harborview Capital Partners

$196 Million HUD Refinance Closed By Harborview Capital Partners

Harborview Capital Partners arranged a $196 million HUD refinance for a portfolio of 13 skilled nursing facilities and assisted living communities. Comprising 1,700 licensed beds, the portfolio is owned by a large regional operator. To replace the existing short-term debt, Ephraim and Jonathan Kutner of Harborview arranged multiple loans with 30 and 35-year terms, adding up to the $196 million. Read More »