• Brookdale Making Progress, but Is It Enough?

    by | May 8, 2024 10:27 am | Opinion

    Brookdale Senior Living reported its best EBITDA performance in several years, nearly topping $100 million, RevPOR continues to grow (5.8% sequentially), and second quarter guidance for adjusted EBITDA is now between $93 million and $98 million. On the labor front, they had a solid 70% retention rate for Executive Directors for the trailing... Read More »

  • Regional Owner/Operator Divests Facility, Exiting Sector

    by | May 8, 2024 10:13 am | Acquisitions

    Daniel Geraghty and Bradley Clousing of Senior Living Investment Brokerage were engaged by a regional owner/operator in its divestment of a senior care facility. The seller is looking to consolidate its portfolio and exit the skilled nursing industry. The buyer is a regional-based owner adding to its portfolio throughout the state,... Read More »

  • BMO Provides $140.6 Million in Bridge Financing

    by | May 8, 2024 10:11 am | Financings

    BMO Healthcare Real Estate provided $70.6 million in bridge financing to a joint venture of New Perspective Senior Living, Boldt Capital and Fengate Asset Management, for the recapitalization of two Class-A seniors housing communities. The communities total 290 units in Franklin and Waukesha, Wisconsin. Loan proceeds include capital allocated for... Read More »

  • Newer-Vintage Facility in New Mexico Changes Hands

    by | May 8, 2024 10:09 am | Acquisitions

    Blueprint was brought on to facilitate the sale of an inpatient transitional care facility, Las Cruces Port Acute and Rehab. Built in 2017, the facility features 50 beds and is in Las Cruces, New Mexico. It’s located within two miles of three short-term acute care hospitals that offer quality Medicare referral opportunities. Trailing EBITDAR was... Read More »

  • Public REIT Divests in Northern Louisiana

    by | May 8, 2024 10:07 am | Acquisitions

    Helios Healthcare Advisors facilitated the purchase of two assisted living communities in Northern Louisiana on behalf of an independent investment group based in Texas and Louisiana. Savannah Court of Bastrop and Savannah Court of Minden were owned by a public REIT and operated by a regional provider under a triple-net lease. Built in the late... Read More »
Northwind Group and KeyBank Finance Peace Capital Acquisition

Northwind Group and KeyBank Finance Peace Capital Acquisition

by | Sep 12, 2019 6:49 pm | Acquisitions, Financings

Peace Capital and its affiliated operator Complete Care Management acquired a senior care portfolio number some 930 beds in Ocean County, New Jersey, for approximately $169 million, or about $181,700 per bed. The financing for the deal came from a couple different sources. As part of its effort to deploy up to $1 billion into senior living and healthcare properties, New York City-based private equity firm Northwind Group provided a $26 million mezzanine loan for the acquisition. Meanwhile, KeyBank Real Estate Capital underwrote and closed the $131 million in senior financing and expects to lead the refinance of the portfolio with HUD debt. Jonathan Slusher and Ran Eliasaf led the mezzanine... Read More »
Persimmon Refinances Pennsylvania Portfolio

Persimmon Refinances Pennsylvania Portfolio

by | Sep 12, 2019 2:53 pm | Financings

Patrick Shearer of KeyBank Real Estate Capital’s Commercial Mortgage Group secured $28 million of HUD financing for three seniors housing communities in Pennsylvania owned by Baltimore-based Persimmon Ventures, LLC and operated by Live Cardinal. All three communities offer assisted living and memory care services. Built in 1994 in Landisville, the largest property has 135 beds in 115 units and received a $16 million loan. A 59-unit community, which was built in 1987 in the town of Millersville, got an $8 million loan. The smallest community has just 45 units but 85 total beds. Built in 2000, it was acquired from The Hollinger Group for $3.8 million, or $84,400 per unit, at a 9.2% cap rate.... Read More »
KeyBank Closes Second Refinance for Danbury Senior Living

KeyBank Closes Second Refinance for Danbury Senior Living

by | Aug 13, 2019 2:11 pm | Financings

KeyBank Real Estate Capital just closed its second Freddie Mac loan for Danbury Senior Living to refinance another seniors housing property Ohio. A year ago, KeyBank had worked with Danbury to arrange a $14 million refinance for its 105-unit community in Wooster. Fast forward to today, and the firm secured a $14.5 million Freddie Mac financing for Danbury’s 101-unit seniors housing property in the town of Tallmadge. Built in 2016, the community provides independent living, assisted living and memory care services. Lee Delaveris from KeyBank arranged the transaction. Read More »
KeyBank Closes Texas Refinance

KeyBank Closes Texas Refinance

by | Jul 23, 2019 2:04 pm | Financings

KeyBank Real Estate Capital arranged a trio of HUD loans for skilled nursing properties located across Texas. The Corpus Christi facility, built in 2015 with 60 semi-private units and a 112-space parking lot, received a $16 million loan. Opened in 2009 and renovated in 2019, again with 60 semi-private rooms, the Bastrop facility obtained a $14.5 million loan. Finally, KeyBank arranged a $14 million loan for a 138-bed (69-unit) facility in San Antonio that was built in 1975 and renovated in 2013. Grant Saunders, Peter Trazzera and John Randolph made up the KeyBank team that closed the transactions. Read More »
Brookdale Gets Another Large Freddie Mac Financing

Brookdale Gets Another Large Freddie Mac Financing

by | Jun 19, 2019 7:02 am | Financings

Brookdale Senior Living continues to make moves that put the company on surer financial footing, having just refinanced existing debt with a $111.1 million Freddie Mac loan arranged by Monique Bimler of KeyBank Real Estate Capital. Secured in two tranches of 14 cross-collateralized seniors housing properties in Arizona, Florida, Massachusetts, Maryland, Mississippi, New York, Oregon, Texas, Virginia and Washington, the first mortgage was arranged as a 10-year split payment master note. There will be a five-year interest-only period split between 40% floating rate and 60% fixed rate payments, with a 30-year amortization schedule after that. This transaction follows a much larger $327... Read More »