• Stand-Alone MC Community Trades in Arizona

    Blueprint represented an institutional seller in the sale of its stand-alone memory care community in the Lake Havasu City-Kingman, Arizona MSA. Built in 2009, the asset features 48 units with 60 beds and received approximately $2 million in recent capital improvements. There is opportunity for occupancy growth and rental rate optimization. ... Read More »
  • Clarion Partners Continues Its Acquisition Streak

    Clarion Partners continued on its acquisition streak, adding two communities in California to its growing portfolio. The latest deal featured The Commons on Thornton and The Commons at Union Ranch, two seniors housing communities totaling 198 units in California’s Central Valley. They were previously owned and operated by MBK Senior Living, which... Read More »
  • Multiple Senior Care Acquisition Financings Close

    M&A transactions are getting done at a near-historic pace, and CIBC Bank USA recently financed three deals. The largest was $43.3 million in acquisition financing for two senior care assets in the Nashville area of Tennessee. The properties include a combined 310 independent living units, 273 skilled nursing beds and 93 assisted living/memory... Read More »
  • Olympus Retirement Living Expands

    The Zett Group closed the sale of a 63-unit assisted living/memory care community in the Boise, Idaho market. Set in the town of Emmett, Meadow View Senior Living was trending positively in its operations, but there was still some work to be done. An owner/operator engaged Blake Bozett and Spud Batt to sell the community to an undisclosed buyer.... Read More »
  • Large Senior Care Portfolio Trades Hands

    A portfolio comprising senior care assets across Washington State recently sold with the help of JCH Senior Housing Investment Brokerage. At first, only one of the assets was brought to market, but an offer emerged for the entire nine-facility portfolio. The price for the skilled nursing, assisted living and independent living campuses ranged... Read More »
KeyBank Arranges Fannie Mae Refinance in North Carolina

KeyBank Arranges Fannie Mae Refinance in North Carolina

A high-end assisted living community located halfway between Greensboro and Durham, North Carolina just refinanced with the help of Charlie Shoop of KeyBank Real Estate Capital. Built in 2014, the one-story community features 65 units of assisted living and memory care on a roughly eight-acre plot in the town of Mebane, and was well occupied. It is operated by Ridge Care, which has a portfolio that includes 11 other communities in North Carolina and one in West Virginia. To refinance existing debt, Ridge Care received a $15.5 million fixed-rate Fannie Mae loan, with a 10-year term subsequent to a two-year interest-only period. Read More »
KeyBank Arranges Fannie Mae Refinance in North Carolina

KeyBank Real Estate Capital Refinances Two Pennsylvania Properties

A large regional owner/operator in the Northeast refinanced two of its senior care facilities through HUD, with the help of John Randolph of KeyBank Real Estate Capital. Located in Pennsylvania, the properties include a 180-bed skilled nursing facility and a 120-bed skilled nursing facility, the latter of which also features a 73-bed independent/assisted living wing. Mr. Randolph arranged $57.7 million in HUD financing to pay down a portion of an existing bridge loan, originally secured by KeyBank’s Henry Alonso and Brandon Taseff, that was used to fund the initial acquisition, and subsequent recapitalization, of a portfolio of healthcare facilities located in the Northeast. Read More »
KeyBank Arranges Fannie Mae Refinance in North Carolina

KeyBank Refinances Portion of Welltower/Chinese Deal

Welltower’s sale of a 75% ownership interest in a 39-property senior care portfolio to Chinese firms Cindat Capital Management and Union Life Insurance Co, Ltd. is back in the news, with KeyBank Real Estate Capital refinancing a portion of the original acquisition financing. In what was the fourth-largest long-term care transaction (by purchase price) of 2016, at $930 million, the Chinese joint venture took over ownership of 11 seniors housing communities master leased to Brookdale Senior Living and 28 skilled nursing/post-acute care facilities leased to Genesis Healthcare. Welltower retained a 25% interest in the portfolio, and both operators stayed on to manage. KeyBank originally... Read More »
KeyBank Finances Luxury Independent Living Development

KeyBank Finances Luxury Independent Living Development

A new independent living community is going up on the Princeton University Healthcare campus, with the help of construction financing arranged by Grant Saunders, Peter Trazzera and Jake Hollinger of KeyBank Real Estate Capital’s Healthcare Group. Featuring 260 total units, including 15 studios, 145 one-bedrooms and 100 two-bedrooms, the project is being developed by SBLP Senior Living Fund I, a fund that invests in the development of seniors housing projects. A joint venture between South Bay Partners, a Dallas-based seniors housing developer, and LAMB Properties, a real estate investment vehicle owned by the Bluhm family, sponsors the fund. Upon completion, Sage Senior Living will take... Read More »

KeyBank, Kindred and BlueMountain

BlueMountain Capital Management has been steadily working to close its large acquisition of 96 skilled nursing facilities from Kindred Healthcare (a deal valued at approximately $700 million). For its latest tranche of closings, the firm received $128 million in acquisition financing originated by Grant Saunders and Peter Trazzera of KeyBank Real Estate Capital’s Healthcare Mortgage Group. The term loan funded the purchase of 13 facilities including nine in California, three in Massachusetts (that are nearing approval) and one in Nashua, New Hampshire. Of the California facilities, five are located in San Francisco, plus one each in Salinas, Stockton, Walnut Creek and Livermore. This marks... Read More »