Two New Communities Trade In Arkansas

Evans Senior Investments closed out May by closing the sale of two private pay senior living communities in Arkansas for a combined $37.965 million, or $183,000 per unit. Located in the towns of Rogers and Bentonville (about 10 miles apart), the communities totaled 56 independent living cottages, 116 assisted living units and 36 memory care units, all […]

Aron Will Closes Two More Financings

Heading into the Thanksgiving holiday, Aron Will of CBRE certainly had a bountiful month, closing nearly $80 million in two transactions. First, working on behalf of joint venture partners Harrison Street Real Estate Capital and The Springs Living®, Mr. Will arranged a $66.4 million construction loan to fund the construction of a 216-unit senior living […]

Buyers See Potential In Wildwood Independent Living Community

Joint venture partners Harrison Street Real Estate Capital, REDICO and American House Senior Living Communities clearly eyed potential at a newly built independent living community in Wildwood, Florida (near The Villages). Built in 2013, the community features 173 units ranging in size from 500 to 1,090 square feet. Based on a 30% operating margin on […]

Where There’s a Will, There’s a Way…To Construction Financing

Aron Will of CBRE brought together a joint venture between Harrison Street Real Estate Capital and Belmont Village Senior Living, and a national bank to arrange construction financing for the development of a brand-new assisted living/memory care community in Lincoln Park, Illinois. The project got its start in 2016, when Cain Brothers arranged the sale […]

Trying Out Transitional Care

Joint venture partners Harrison Street Real Estate Capital and Pisula Development Company (the development arm of RRC Medical Real Estate LLC) are venturing into the transitional care/skilled nursing space with the acquisition of a brand-new facility in Conroe, Texas. Featuring 150 beds in two stories, the transitional care facility was developed in late 2016 by […]

Fannie Mae Origination in Oregon

Almost five years after taking over the operations of a 92-unit senior living community in the town of The Dalles in northern Oregon, family-owned The Springs Living has become its sole owner, thanks to a $17.5 million Fannie Mae refinance arranged by Capital One’s Dague Retzlaff and Mark Bultman. Harrison Street Real Estate Capital bought […]

High price for the Upper West Side

Seniors housing deals valued above $500,000 per unit are rare. In fact, in our M&A database dating back to 1993, only nine have been announced in the U.S. (all since 2015). And up until this month, we only had one domestic deal above $600,000 per unit, which was Health Care REIT’s acquisition of three senior […]

HCP boosts seniors housing holdings

Just as HCP, Inc. is about to spin off its large skilled nursing portfolio into a new REIT, it has closed a smaller, but large in today’s M&A market, acquisition of a portfolio of seven assisted living and memory care communities with 526 units in Maryland and Virginia. The price was $186.25 million, which comes […]

Greystone’s giant deal

Greystone Real Estate Advisors certainly ended May with a bang, closing the largest transaction of the month at a value of $210 million, or $202,117 per unit. Involving seven senior living communities in Texas and one in Oklahoma City, the sold portfolio was owned by Harrison Street Real Estate Capital and Bridgewood Property Company. Built […]

Diamond in the rough

A not-for-profit health system in Alabama, the East Alabama Medical Center, recently exited the assisted living market, selling their three assisted living/memory care communities all located in Auburn. Featuring the only memory care beds (with 84) in the county, licensed as “Specialty Care Assisted Living,” these facilities were built between 1996 and 1999. Under the […]