• 60 Seconds with Swett: Sticks and Bricks in ’26?

    by | Apr 21, 2026 3:29 pm | 60 Seconds, Developments

    The talk around new development is getting a lot more serious in the seniors housing industry, leading us to wonder if our 2024 prediction of “Sticks and Bricks in ‘26” may actually come true, somewhat. Back then, we may have thought that interest rates would have come down a bit more by now, but that the FOMO of getting involved in seniors... Read More »

  • Wyoming SNF Sale Sets New State Record

    by | Apr 21, 2026 3:27 pm | Acquisitions

    There was a new record set for skilled nursing pricing in the state of Wyoming with the sale of Big Horn Rehabilitation and Care Center in Sheridan. Built in the 1960s, the facility features 128 beds and was 61% occupied. It was owned by a regional operator that was looking to recycle capital.  Before the marketing process, Evans Senior... Read More »

  • Owner/Operator Acquires Facility Out of Bankruptcy

    by | Apr 21, 2026 3:26 pm | Acquisitions

    A senior care facility in Worcester, Massachusetts, sold as part of a bankruptcy process with the help of Patrick Burke and Toby Siefert of Senior Living Investment Brokerage. Built in 1970, Donna Kay Rest Home features 60 licensed beds in 31 units, providing a higher level of care and supervision than assisted living but at a lesser acuity than... Read More »

  • Civitas Sells Community to Clarion

    by | Apr 21, 2026 3:25 pm | Acquisitions

    Hap Knowles and Nick Stahler of the Knapp-Stahler Group at Institutional Property Advisors announced that they led the sale of a seniors housing community in the Phoenix, Arizona MSA, to the fast-growing real estate investment firm Clarion Partners. The deal appears to be The Retreat at Alameda, a 110-unit assisted living/memory care community in... Read More »

  • Blueprint Handles Recapitalization

    by | Apr 21, 2026 3:24 pm | Acquisitions

    Blueprint handled the recapitalization of Forest Hills Commons, a 2017-developed, 119-unit assisted living/memory care community in the Louisville, Kentucky MSA. A Louisville-based senior living owner/operator/developer engaged Blueprint in the third quarter of 2025 to begin the process. The asset demonstrated strong in-place performance and... Read More »

How HCP Will Deal With Its Largest Tenant

by | Mar 13, 2015 3:12 pm | 60 Seconds, Opinion

HCP plans to sell up to 50 HCR ManorCare SNFs, but will it really work? The REIT HCP announced in February that it will try to sell up to 50 of its HCR ManorCare skilled nursing facilities to try to improve on the property level lease coverage ratio that is below 1.0x. The way it is going to work is that HCP will credit the annual lease payments in an amount equal to 7.75% of the sales proceeds. Using an example of a current 0.80x lease coverage on a facility to be sold, if it sold at a market cap rate of 12% to 12.5%, there would be no improvement in lease coverage. In fact, the coverage would decline slightly, so HCP would really not be any better off. One equity analyst did the math and... Read More »