NHI Adds Another Holiday Retirement Community to Master Lease

In the middle of restructuring and extending its master lease with Holiday Retirement, National Health Investors also was able to acquire a senior living community in Vero Beach, Florida. Consisting of 157 independent living and 75 assisted living units, the community was leased back to Holiday for approximately $2.6 million in rent annually. It falls […]

Griffin-American and Greystone

A month ago, we learned of a couple of large divestments by New Senior Investment Group, in a move to bring its share price up to where management believes it should be, by increasing the share of its independent living portfolio, decreasing its Holiday Retirement exposure, and reducing its concentration in the three states of […]

Lancaster Pollard Nets Fannie Mae Financing for Oregon Assisted Living Community

When BPM Senior Living Company decided to permanently finance its assisted living/memory care community in Milwaukie, Oregon, Lancaster Pollard had the solution. Matt Lindsay and Doug Harper of Lancaster Pollard successfully arranged a $5.3 million loan from Fannie Mae, going from engagement to closing in under 60 days. Making that timeframe even more impressive is that […]

Two Assisted Living Sales Close in Florida

Brad Clousing of Senior Living Investment Brokerage is starting strong this year, selling three assisted living communities in two transactions for a combined $23 million. Partnering with Patrick Burke, Mr. Clousing first sold a 37-unit assisted living community in Martinsville, Virginia, a transaction that was a long time coming. In July 2015, the same selling […]

Changes at the top

There has been a lot of mobility in the seniors housing C-suite lately (Kai Hsiao stepping down as CEO of Holiday Retirement earlier this year, Doug Korey heading over to LTC Properties, the recent Brookdale Senior Living shuffle, etc…), and yet another job change was announced at the end of March. HCP’s Chief Financial Officer, […]

Reading the Holiday tea leaves

As most of you have read recently, Walker & Dunlop closed its largest loan ever (almost double the size of its $670 million financing that the company closed earlier in 2015) in the form of a $1.27 billion seven-year adjustable-rate Freddie Mac loan secured by 78 Holiday Retirement independent living properties. The financing, led by […]

Arbor enters the seniors housing bridge lending game

With decades of experience in providing bridge loans for multifamily and commercial properties, Arbor Commercial Mortgage recently closed on its first bridge loan in the seniors housing industry, from its Arbor Realty Trust‘s bridge loan product line. Jeff Ringwald of Arbor originated the $5.55 million bridge acquisition loan, which featured a three-year term and a […]

Another Holiday portfolio sells to a REIT

So goes another large portfolio of Holiday Retirement properties, with NorthStar Realty Finance’s acquisition of 32 independent living communities from affiliates of Harvest Facility Holdings, itself an affiliate of Holiday. The acquisition marks another step towards Holiday’s owner Fortress Investment Group’s goal of transforming Holiday into an operating company. In fact, since October 2013, Holiday […]