• Investment Firm Acquires in Missouri

    Investment firm Lapis Advisers purchased a seniors housing asset out of state receivership in Kansas City, Missouri. The CCRC was distressed, having struggled with COVID-related challenges as well as a limited access to capital in recent years.  Kingswood Senior Living features 185 independent living (65 of which are large duplex cottages),... Read More »
  • Global Investment Firm Sells Community with Strong Momentum

    A global real estate investment firm sold an independent living community in Iowa, engaging Blueprint’s Kory Buzin, Dillon Rudy and Steve Thomes to get the deal done. Built in 2002, the four-story community features 121 units, mostly with two-bedroom options. It appears to be The Arbordale in Urbandale, which was acquired in 2020 by Omaha,... Read More »
  • Large Operator Adds Turnaround Campus to Portfolio

    A senior care campus in Ohio found a new owner with the help of Kiser Group. Set on 26 acres in a rural market east of Cleveland, the property features 76 skilled nursing beds, five assisted living units and three independent living units. It was originally built in 1950 but expanded through multiple additions between 1965 and 2001.  At the... Read More »
  • Texas Skilled Nursing Portfolio Sells

    A portfolio of skilled nursing facilities traded hands in Texas before the end of the year. There are two assets in the Lubbock area and two in Central Texas that are located northwest of Austin. They comprise more than 430 beds, with between 100 to 120 beds at each of the four facilities. Three of the buildings were constructed in the 1970s, and... Read More »
  • CIBC Bank’s Recent Activity

    CIBC Bank USA closed an impressive array of transactions in the last several months, totaling more than $800 million in credit facilities across the country. The largest transaction was an $85 million (with earn-outs) debt package for a senior care portfolio in the Northeast. The debt included a senior term loan and a mezzanine loan to refinance... Read More »
Strawberry Fields REIT Invests in Indiana SNF

Strawberry Fields REIT Invests in Indiana SNF

Strawberry Fields REIT grew its portfolio yet again, with the purchase of a 72-bed skilled nursing facility in Muncie, Indiana (Indianapolis MSA), pushing the REIT’s total SNF holdings to over 70 facilities. Strawberry Fields is no stranger to this property, having been leasing and subletting it from the previous landlord since November 2011. They picked up the property for $3.15 million, or $43,750 per unit, in an all-cash transaction. Built in 1972, the facility was part of an Indiana county hospital UPL tie-up with Henry County Hospital and is being managed by Infinity Healthcare Management. It offers both comprehensive medical and rehabilitative therapy services, in addition to... Read More »