• 60 Seconds with Swett: Navigating the Next Five Years in Seniors Housing M&A

    Are we entering the golden age of seniors housing? Next year, the first baby boomers will start turning 80, and with the current lack of new construction, occupancy rates are already rising before the real demographic wave hits. Many investors, both veterans and those new to our space, will feel pressure to grow their seniors housing holdings to... Read More »
  • Blackstone Sheds Another Asset from Its Seniors Housing Portfolio

    Blueprint handled a couple of sales in Florida and Nevada. The first in Florida involved a global private equity firm selling a 145-unit assisted living and memory care community in Boca Raton, Florida. Ben Firestone, Dillon Rudy and Jacob Ghel of Blueprint facilitated The Atrium at Boca Raton’s ownership transfer. The community presented certain... Read More »
  • CareTrust REIT Establishes SHOP Platform

    Three Texas seniors housing communities with 270 assisted living and memory care units were acquired by CareTrust REIT, Inc. The publicly traded REIT purchased the communities for $40 million, or $148,100 per unit. This marks the first investment of CareTrust’s SHOP platform. The communities were 86% occupied at the time of acquisition and will... Read More »
  • Ensign Grows Through Separate Transactions in Three States

    The Ensign Group, Inc. increased its portfolio through three separate acquisitions in Kansas, Arizona and Colorado. The publicly traded provider expanded its growing Midwest footprint through its Kansas acquisition of the real estate and operations of Willow Point Rehabilitation and Nursing Center, a 45-bed skilled nursing facility in Kansas... Read More »
  • Developer/Operator Divests to PE Firm

    A developer and operator sold Rivertown Ridge, a Class-A seniors housing community in the Grand Rapids suburb of Wyoming, Michigan, to a private equity firm. This community, built in 2020, features 152 units of independent living, assisted living and memory care, and has exhibited strong performance.  The seller, Redstone Homes, was... Read More »
The Brookdale Restructuring Continues

The Brookdale Restructuring Continues

No one can say that Brookdale Senior Living hasn’t been hard at work restructuring its assets and balance sheet as it tries to steady the operational ship. Well, maybe we can think of a couple of people. Nevertheless, Brookdale announced that it reached a series of agreements with its landlord HCP Inc. to hopefully put the company on surer financial and operational footing. First, BKD will sell its unconsolidated JV interests amounting to 51% of a portfolio of 13 CCRCs and 5,641 total units to HCP for $510 million, or about $177,000 per unit assuming 100% interest. The deal nets Brookdale about $277 million in cash proceeds after pro rata debt on the properties. The transaction is expected... Read More »