• 60 Seconds with Steve Monroe: You’ve Got To Be Kidding

    Sadly, we are not kidding. President Trump has shown his true colors, and his true loyalty to the almighty dollar, with yet another pardon of one of the bad boys of senior care. But this bad boy is the worst of the group. We are referring to the just announced pardon of criminal Joseph Schwartz, the former owner of Skyline Health. Several months... Read More »
  • Publicly Traded REIT Divests Seniors Housing Portfolio

    A Wisconsin-based developer sold its five seniors housing properties in the Badger State to LTC Properties. Tukka Properties has a longstanding relationship with Walker & Dunlop, which had secured development debt, equity and permanent financing for the assets over the years and had also sold a Tukka-developed property to Welltower in 2021... Read More »
  • Sale Revives Stalled Seniors Housing Development

    Blueprint closed on the sale of a partially developed seniors housing community in Pearland, Texas. Originally planned as a 198-unit independent living, assisted living and memory care community on 9.6 acres, the project was approximately 60% complete when development stalled. Blueprint targeted seniors housing operators and developers, as well... Read More »
  • MONTICELLOAM Closes One of Its Largest Financings

    In one of the largest financings the firm has ever completed, MONTICELLOAM, LLC, along with firm affiliates, funded $470.5 million in total bridge and working capital financing for a sixteen-facility skilled nursing portfolio. The sponsor group, which owns and operates over 200 skilled nursing facilities across the country, used the $455.5... Read More »
  • Cash Flowing Assets Trade in Florida and Oregon

    Blueprint was engaged by a repeat institutional private equity client in the sale of a Class-A assisted living/memory care community in the Clearwater, Florida MSA. The community has received investments over the years and offered immediate in-place NOI and strong operating margins, while presenting some value-add opportunities. Kyle Hallion,... Read More »

Greystone Refinances Queens Skilled Nursing Facility

A couple of years after Greystone financed the acquisition of a 302-bed skilled nursing facility in Queens, New York, the lender came full circle in refinancing it with a $59.8 million, or a whopping $198,000 per bed, HUD loan. Fred Levine of Greystone originated both the original bridge loan and the permanent financing on behalf of the borrower, Kennedy Management, a healthcare company owned and operated by the Fuchs family. Since the 2015 acquisition, the owners renovated and rebranded the facility, which now boasts many luxury features such as a dedicated concierge, resident lounges, bedside iPads and valet parking. The facility also offers a 40-bed ventilator unit and a 12-chair... Read More »