• Interview with Bryan Lockard of JLL Value and Risk Advisory

    Ben Swett, Managing Editor of The SeniorCare Investor, sat down with Bryan Lockard of JLL Value and Risk Advisory to discuss JLL’s 2024 Seniors Housing and Care Investor Survey and Trends, which you can download here. Read More »
  • Wow…Sonida Senior Living

    The last company in our sector, Sonida Senior Living, finally reported fourth quarter and full-year 2023 earnings, and while pretty good, that was not even the story. The story started four weeks ago. In February, the company announced a series of capital transactions which reduced their debt, raised some equity, and provided liquidity to take... Read More »
  • Marcus & Millichap Arranges SNF Leases

    After purchasing four senior care campuses in a large portfolio deal, a seniors housing owner/operator turned to Marcus & Millichap to find new tenants for the skilled nursing portions of each newly acquired campus. Each building was losing close to $1 million annually and had struggled with occupancy and expenses.  While the portfolio... Read More »
  • LSS Absorbs Diakon

    Two large not-for-profits announced that they were combining to create the 12th largest not-for-profit senior living organization in the country. Lutheran Senior Services, based in St. Louis, Missouri, signed an agreement to bring Diakon Senior Living operations and four CCRCs under its umbrella. Both organizations were described by Adam Marles,... Read More »
  • SNF Under Receivership Is Acquired in Kansas

    Marcus & Millichap was brought on by a limited liability company in the sale of a skilled nursing facility in Topeka, Kansas, that was under receivership. The facility, Providence Living Center, comprises 78 beds across 24,000 square feet and focuses on senior residents with mental health needs. Rod Llanos and Colby Haugness handled the... Read More »

Behavioral Health Provider Buys Hometown Senior Living

A national behavioral health provider acquired a Minnesota-based assisted living/memory care provider and its seven locations in the Minneapolis-St. Paul metro area. Yet again, we are seeing a combination of these healthcare service sectors, as several of the senior care REITs announced plans to grow their behavioral health holdings in their recent earnings announcements.  The target was Hometown Senior Living, a family-owned and operated provider that has grown over the past 10 years to be one of the largest memory care operators in the Minneapolis area. It was acquired by Beacon Specialized Living, one of the biggest behavioral health providers in the country with over 190 locations.... Read More »

Helios Arranges Sale in Massachusetts

A family-run organization is getting out of the skilled nursing business (along with many other mom & pops across the country) and sold its 63-bed facility in northwest Massachusetts. Built in the mid-1960s, the facility was also operated by the seller but recently experienced a census decline from the mid-80s to the high-60s. That is because the Massachusetts Department of Public Health recently proposed and implemented a removal of all three- and four-bed wards at SNFs in the state. The industry has been moving past wards for a while now, but some operators of older, mostly Medicaid facilities rely on them to fill beds and cover their overhead costs. With Medicaid reimbursement rates... Read More »
Helios Healthcare Advisors Arranges Two Transactions

Helios Healthcare Advisors Arranges Two Transactions

Helios Healthcare Advisors started 2022 by announcing a couple of transactions in the southern United States. First, Helios procured a Dallas-based owner/operator to operate an assisted living community in northern Texas. The prior operator was located out of state and experienced logistical difficulties operating this community. So, Helios arranged the third-party management transition on behalf of the owner, an investment firm based in San Francisco, California.  Next, Helios arranged the sale of an 82-bed skilled nursing facility on behalf of Tri-State Health Services in Claiborne Parish, Louisiana. A new regional owner/operator was selected to take over the real estate and... Read More »
Helios Healthcare Advisors Facilitates Acquisition in Oregon

Helios Healthcare Advisors Facilitates Acquisition in Oregon

Samaritan Health Services, an Oregon-based not-for-profit integrated health system, sold a seniors housing community in Sweet Home, Oregon that it had picked up in a merger but has since deemed to be non-core. Samaritan engaged Helios Healthcare Advisors to market the property and procure a buyer, which ended up being Mosaic Management, a regional operator with a presence in the local market. Mosaic paid $4.2 million, or $65,600 per unit. There was no cap rate on the deal, since the community was losing about $350,000 in EBITDAR.  Built in the late 1990s, it includes 44 assisted living units in one building and 20 independent living units between five buildings. Occupancy was around 70%.... Read More »
Texas-Based Operator Acquires Dallas-Area SNF

Texas-Based Operator Acquires Dallas-Area SNF

Jeff Rhodes, Bill Janis and Mario Wilson of Helios Healthcare Advisors arranged acquisition financing for a 120-bed skilled nursing facility in the Dallas metro area. This was the only operation for the current Texas-based operator, which is acquiring the facility from the out-of-state landlord.   Newly built in 2014, the facility maintained above average occupancy at the time of the sale. Helping its operations was its location in an affluent suburb near a handful of major hospitals. It also consistently achieves strong clinical ratings.  The Helios team arranged a $12.53 million bridge loan from a regional lender to help cover the $13.06 million, or $108,800 per... Read More »