• Eight Wisconsin Senior Care Assets Sell in Four Deals

    Senior Care Realty had an active October, with a handful of deals closed by Chad Wegner and Bob Richards. The four transactions involved senior care assets spread throughout Wisconsin. In one of the transactions, Chad Wegner of Senior Care Realty sold four assisted living and memory care communities across two campuses in Wisconsin. The... Read More »
  • Public REIT Offloads SNFs Following Lease Non-Renewal

    Blueprint started the fourth quarter well after selling a portfolio of skilled nursing facilities in Florida, California and Virginia, on behalf of a public REIT. The existing tenant elected not to renew its master lease, prompting the portfolio divesture. The first closing was completed in Florida for two high-quality SNFs. The two facilities... Read More »
  • Senior Care Owner/Operator Acquires AL Community

    Dan Mahoney and Dillon Rudy of Blueprint were engaged by a Louisiana-based not-for-profit owner/operator to market a 40-unit assisted living community in the Inland Northwest region of Idaho. The property maintained a steady resident base and in-place HUD financing. The organization was divesting because the asset no longer geographically aligned... Read More »
  • Developer Divests to Capital Group

    A Class-A seniors housing community near Wichita, Kansas, found a new owner thanks to Evans Senior Investments. The seller developed the community in 2014 and has operated it since then. There are 101 units of independent living, assisted living and memory care. Occupancy was consistent around 90%, and the operating margin was in the high-20s,... Read More »
  • Stellar Senior Living Finances Arizona Community

    Marcus & Millichap arranged $22 million in financing for The Springs of Scottsdale, a 143-unit independent living community in Phoenix, Arizona. Paul Winterowd secured the financing with a national life insurance company on behalf of Stellar Senior Living. The sponsor secured a five-year loan at 60% loan-to-value, with a competitive interest... Read More »
Healthcare Trust Expands Partnership with Senior Lifestyle and Jaybird

Healthcare Trust Expands Partnership with Senior Lifestyle and Jaybird

Healthcare Trust, Inc. (HTI), a public, non-traded real estate investment trust, announced the expansion of a strategic operational relationship with two senior housing operators, Senior Lifestyle Corporation and Jaybird Senior Living. Thirteen HTI-owned communities operated under HTI’s Addington Place brand across Georgia, Michigan and Florida will now be managed by Senior Lifestyle, bringing the total number of HTI properties operated by the company to 24. In addition, seven HTI-owned properties in Illinois, Kansas and Missouri, also operated under the Addington Place brand, will now be managed by Jaybird Senior Living. This expanded relationship brings the total number of HTI-owned... Read More »
Healthcare Trust Divests Two Florida Facilities

Healthcare Trust Divests Two Florida Facilities

Cushman & Wakefield’s Senior Housing Capital Markets team completed the sale of two skilled nursing/assisted living facilities on behalf of the public, non-traded REIT, Healthcare Trust, Inc. These two properties represent the last of the three strategically planned majority-skilled nursing property sales in the state of Florida, after having already sold its SNF in Lutz earlier this year for $20 million, or a gain on sale of real estate investments of $3.8 million. Cushman & Wakefield handled all three property sales.   Healthcare Trust acquired one of the communities, The Addington at Wellington Green in Wellington, Florida, seven years ago. Built in 2011, it features a 120-bed... Read More »
Healthcare Trust Buys in San Diego

Healthcare Trust Buys in San Diego

It’s been a while since we’ve seen Healthcare Trust Inc. as a buyer in the seniors housing market. Well, the public, non-traded REIT has acquired a 91-unit/117-bed senior living community in San Diego, California, for an undisclosed price. There are 53 assisted living and 38 memory care units (64 beds) in the two-story building, which was built in 2015 on a 4.3-acre site. The quality of the building is apparently quite high, and the community was over 90% occupied. Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker, Tim Hosmer and Bailey Nygard made up the Cushman & Wakefield team that served as exclusive advisor to the seller, Torrey Pines Development Group. Read More »
Capital One Bridges to Agency Financing

Capital One Bridges to Agency Financing

Capital One pulled double duty for its client, Healthcare Trust (HTI), arranging more than $145 million in total financing. First, back in December, the firm served as administrative agent and sole lender for an $82 million senior secured credit facility, which provided bridge-to-agency financing for a 23-property seniors housing portfolio located in six states (primarily Michigan and Iowa) in just five weeks. Fast forward to this month, when Capital One added seven of those properties to HTI’s existing Fannie Mae credit facility. The transaction increased the total facility by $64.2 million, to $216.6 million. Read More »