• Did Blackstone Sell Too Soon?

    According to recent media reports, real estate investor The Blackstone Group has sold and is in the process of selling about $1.8 billion in seniors housing assets. It wants to completely exit the seniors housing business which they claim has been a disaster for them. One report stated that they have lost upwards of $600 million across the... Read More »
  • Brookdale Continues Winning Streak

    The big question is, why did this not happen earlier? We are talking about Brookdale Senior Living’s occupancy recovery, and why the previous leadership seemed unable to move the needle, but as soon as they were gone, everything has been on an upward trend. Hmmmmm.  Things are not perfect at Brookdale, but they never were. However,... Read More »
  • National Health Investors Adjusts Its SHOP Portfolio

    National Health Investors, Inc. announced some adjustments to its SHOP portfolio, raising its full-year guidance for the third consecutive quarter due to the contribution of recently transitioned and newly acquired SHOP properties, along with continued strength in its investment pipeline. The REIT also had an update on its lease agreement with... Read More »
  • Strawberry Fields’ Three Separate SNF Transactions

    Strawberry Fields REIT, Inc. announced three separate skilled nursing transactions that closed during the third quarter. Two previously announced acquisitions were in Missouri, and the recently announced purchase was in Oklahoma.  In July, the REIT completed the acquisition of nine skilled nursing facilities with 686 beds in Missouri. The... Read More »
  • Receivership Estate Sells in Alabama

    Kory Buzin and Steve Thomes of Blueprint handled another successful sale on behalf of a lender and special servicer, this time involving a receivership estate in Mobile, Alabama. Knollwood Point, a 2001-vintage, 46-unit assisted living and memory care community, struggled in recent years as a result of challenged occupancy and volatile staffing.... Read More »

RED hot HUD deal

ORIX USA Corporation just increased its ownership interest in RED Capital Group, the multifamily/affordable/seniors housing lender, from 88% to 100%. ORIX made its original investment in 2010, but RED has continued to operate as an independent entity based in Columbus, Ohio. And with that, RED Mortgage Capital, the mortgage banking arm of RED, closed a $21.2 million HUD loan with a 30-year term to refinance a 220-bed skilled nursing facility in Butler, Pennsylvania. Previously owned by Butler County, this facility was built in 1963, with an addition in 1982 and a $7 million renovation in 2009. Under county-ownership, operations suffered with a high Medicaid census, and despite being 96%... Read More »

RED Capital funds SNF acquisition

Investment360, a boutique healthcare investment group, plans to improve census and quality mix at a 440-bed skilled nursing facility it acquired, with the help of a $36.5 million bridge-to-HUD loan from RED Capital Partners. The facility has historically struggled, and Investment360 hopes that by bringing in Excelerate Healthcare to operate the facility as part of a long-term lease agreement, it can reposition the facility to meet a higher acuity population and become a market leader in the Syracuse, New York area. The loan came from RED’s balance sheet lending program at a very competitive spread. Read More »