• 60 Seconds with Steve Monroe: Brookdale Senior Living, What’s Next?

    So, the big vote occurred last week, and shareholders of Brookdale Senior Living have spoken. We are sure that the recent increases in occupancy convinced some shareholders to stick with management and its “plan.” But the nominees from activist shareholder Ortelius Advisors were not off-the-wall candidates. It was an excellent group, and despite... Read More »
  • Optalis Healthcare Acquires Michigan Portfolio

    Blueprint was engaged by Michael F. Flanagan, the duly appointed receiver of Spartan Holdco, LLC, et al. and approved by the Oakland County Circuit Court to run a marketing process sourcing qualified overbids for the auction sale of the SKLD (Skilled Living and Development) portfolio. Dubbed Project Spartan, the portfolio comprises eleven skilled... Read More »
  • National REIT Divests to Cougar Capital Management

    Haven Senior Investments facilitated a transaction between a national REIT and a real estate development firm based in Boston, Massachusetts. The seller, Summit Healthcare REIT, divested a seniors housing community in Littleton, New Hampshire, The Village at Riverglen. Built in 2002, The Village at Riverglen features 60 beds across 50 independent... Read More »
  • CFG’s H1 Financing Volume

    Capital Funding Group’s bridge-to-HUD and HUD teams financed more than $930 million across 50 transactions in the first half of 2025. These financings included 14 HUD loans, 21 bridge loans and 15 accounts receivable loans for clients across the country. Managing Director of Real Estate Craig Casagrande originated a few transactions throughout... Read More »
  • Stabilized Class-A IL Community Secures Refinancing

    Greystone arranged a $43.5 million debt placement to refinance a seniors housing community in Oregon. The 142-unit property is a recently built and stabilized Class-A independent living community. The community had strong trailing cash flows, on a shorter trailing period, but an upward trend. The financing was sourced by David Young.  The... Read More »
Welltower Announces Four More Portfolio Acquisitions

Welltower Announces Four More Portfolio Acquisitions

Welltower continues to double down on its seniors housing acquisition strategy, planning to spend another $1.3 billion to purchase four separate portfolios total 31 properties, as revealed in its Q3 earnings report. The news also came after Healthpeak Properties announced in its own third quarter earnings that it had completed its exit from the seniors housing industry. So as one “Big Three” REIT leaves, another cements its status as number one.  The largest of the deals was the $580 million acquisition of eight rental and six entrance-fee communities affluent markets in Washington, California and Virginia. It appears this is The Fountains portfolio, owned by NorthStar Healthcare Income... Read More »
Newmark’s Coast-to-Coast Closings

Newmark’s Coast-to-Coast Closings

Newmark crisscrossed the country to find buyers for a few seniors housing communities at the end of August. First, representing Healthpeak Properties in another one of the REIT’s divestments, the Newmark team sold a 160-unit CCRC in Northridge, California that was formerly operated by Brookdale Senior Living. Originally built in 2001, the community has grown over the years to include 91 assisted living, 24 memory care and 45 skilled nursing units. Pacifica Senior Living bought it for $29 million, or $181,000 per unit. Next, Newmark reported the sale of two Fort Myers-area assisted living/memory care communities to Lone Star Funds for $51.5 million, or $192,900 per unit. Previously owned by... Read More »
REITs’ Low Capital Costs May Drive Cap Rates Lower

REITs’ Low Capital Costs May Drive Cap Rates Lower

For the past 18 months or so, healthcare REITs have been doing more selling than buying, at least of seniors housing and care assets. Some of the moves were strategic, such as Healthpeak Properties making the decision to exit the senior care market, at least for now. Others were more tactical, such as Welltower trying to sell high and buy low to better position its portfolio for the future.  But there is one common denominator for the REITs, especially the largest ones, and that is their cost of capital advantage and the ability to use it as we are emerging from the depths of the pandemic. Even though it is not looking to buy senior care assets right... Read More »
MidCap Financial Closes Acquisition Debt For Healthpeak

MidCap Financial Closes Acquisition Debt For Healthpeak

MidCap Financial closed acquisition debt for another Healthpeak divestiture. Announced in May, the REIT sold five of its SHOP communities that were operated by Florida-based Sonata Senior Living. All five communities are in Florida, with locations in Delray Beach (80 units), Boynton Beach (92), Boca Raton (74), Coconut Creek (94) and Vero Beach (104). There was a total of 328 assisted living, 107 memory care and nine independent living units, and the communities averaged around 20 years in age. However, the properties were well maintained, and Healthpeak Properties had invested over $13 million of capex in the past four years.  Private equity firm Fortress Investment Group paid $64... Read More »
Harrison Street Announces the Largest Seniors Housing Deal Since 2019

Harrison Street Announces the Largest Seniors Housing Deal Since 2019

In the June issue of The SeniorCare Investor, we wondered when private equity would get off the M&A sidelines in a major way, with so much dry powder available to them. On cue, Harrison Street Real Estate Capital announced the largest seniors housing and care deal in two years, spending approximately $1.2 billion on a portfolio of 24 assisted living/memory care communities in California and Nevada. The portfolio totals 2,195 units, resulting in a per-unit price of $546,700 per unit.  Oakmont Management Group operated the whole portfolio, Healthpeak Properties owned half of the properties and California-based real estate developer Gallaher... Read More »