• Northstar Senior Living and Alta Senior Living Merge

    In the mad dash for growth in the seniors housing sector, a lack of new development and an abundance of buyers crowding certain corners of the M&A market has led some owner/operators to seek acquisitions or mergers of whole management companies. It can certainly be a viable alternative that allows one to grow without a massive capital... Read More »
  • In-Place Operator Acquires Senior Care Campus

    CBRE National Senior Housing’s Debt and Structured Finance team arranged acquisition financing for a senior care campus on behalf of Wingate Living and its affiliates. Wingate Living is a Newton, Massachusetts-based senior living developer/owner/operator with a focus on New England. Aron Will and Michael Cregan arranged the financing, securing a... Read More »
  • Joint Venture Takes on Stabilization Project

    Michael Segal, Lauren Nagle and Daniel Waldhorn of Blueprint closed a deal on behalf of an institutional seller that was looking to divest its assisted living/memory care community. The purpose-built asset was constructed in 2000 by a national developer and comprises 52 units. It sits in West Bloomfield, Michigan, which is Michael Segal’s... Read More »
  • Large SNF Portfolio Secures Acquisition Financing

    Marking another milestone for MONTICELLOAM in a banner first quarter, the firm funded $435 million in bridge and working capital financing for a skilled nursing portfolio that encompasses 14 facilities in Maryland. Of the total, $400 million supported the acquisition of the 1,890 beds. The sponsor group is a returning client that owns/operates... Read More »
  • Joint Venture Secures Acquisition Financing

    A joint venture between Winterpast Capital Partners, Vitality Senior Living Management and Virtus Real Estate Capital acquired an assisted living/memory care community, securing bridge financing through Coastal States Bank. The financing includes reserves to support the joint venture’s ongoing repositioning of the community and was structured... Read More »
Invesque Expands with Virginia Acquisition

Invesque Expands with Virginia Acquisition

Toronto, Canada-based Invesque (TSX: IVQ) announced it has entered into an agreement to purchase 20 assisted living and memory care communities from Commonwealth Senior Living for $340.4 million, or about $236,400 per unit. All but one of the communities are in Virginia, with one in Pennsylvania. Of the total units, 863 are assisted living, 486 are memory care, and 91 are independent living, for a total of 1,440 (1,716 licensed beds). In addition, Invesque has an exclusive right of first offer for three additional communities that are currently managed by Commonwealth and will continue to be after the closing, which is expected in the third quarter. The deal increases Invesque’s AL/MC... Read More »
Greystone Real Estate Advisors Gets It Done

Greystone Real Estate Advisors Gets It Done

Mike Garbers and Cody Tremper of Greystone Real Estate Advisors just announced a slew of transactions that closed at the end of 2017, advising the seller in each deal. First, the pair closed the sale of a 38-unit/66-bed memory care community in Tulsa, Oklahoma. A private equity group sold the community to a joint venture between a public REIT and a national operator. Then, speaking of joint ventures, an institutional private equity group and a private developer/operator teamed up to purchase a 72-unit/78-bed assisted living community in Spring, Texas from a Lone Star State-based developer. And finally, Messrs. Garbers and Tremper went to Vernon Hills, Illinois to sell a 70-unit memory care... Read More »