• Blueprint Advises Another SNF Sale

    Blueprint Healthcare Real Estate Advisors’ Ben Firestone and Michael Segal recently facilitated the sale of Magnolia Manor, a skilled nursing facility in Inman, South Carolina. Built in 1967, Magnolia has 176 beds, which represents over 40% of the total licensed beds in the local market and twice the capacity of the next largest competitor. ... Read More »
  • The Ensign Group and CareTrust Acquire Two Texas SNFs

    The Ensign Group and CareTrust REIT have teamed up to acquire the real estate and operations of two skilled nursing facilities in the Austin, Texas metropolitan area. CareTrust purchased the facilities for $32.5 million, or about $135,000 per bed, while The Ensign Group recently took over operations effective August 1, 2021 as part of the... Read More »
  • Walker & Dunlop Originates Financings for Four Communities

    Walker & Dunlop Managing Director Kevin Giusti and Senior Analyst Brian Neal recently originated $37.47 million in financing for four assisted living and memory care facilities: Bloom at Bluffton in Bluffton, South Carolina; Bloom at Hilton Head in Hilton Head, South Carolina; Cascades of Tucson, in Tucson, Arizona; and Regency Jackson in... Read More »
  • Newmark Summer Sales Continue

    Late last week, we profiled several of Newmark’s latest closings, but we also said that we were not finished. One deal was referenced in Welltower’s recent earnings release, as the REIT’s purchase of seven senior living communities from White Oak Healthcare Partners finally closed. The communities, averaging more... Read More »
  • Welltower Announces Big Census Gains

    Welltower released its second quarter earnings results, and its growth strategy was on full display with $1.5 billion in pro-rata gross investments from April to June, at an initial yield of 8.8%. That does not even include the largest deal, which was its proposed $1.58 billion acquisition of 86 independent living communities owned... Read More »
“Lument” Lighting Up The Senior Care Lending World

“Lument” Lighting Up The Senior Care Lending World

The combined firms of Hunt Real Estate Capital, RED Capital Group and Lancaster Pollard are moving forward together under one brand name: Lument. According to ORIX Real Estate Capital’s CEO James Flynn, the name was chosen for its associations with light and energy, emphasizing the combined company’s expertise, products and resources along with its drive to guide its clients to successful closings.   The name change also follows a period of organizational restructuring among the three legacy companies, process streamlining and investment in new technology following the company merger in April 2020. Now, with the integration complete and the scale of ORIX’s balance... Read More »
Lancaster Pollard Charges Into Chambersburg

Lancaster Pollard Charges Into Chambersburg

Lancaster Pollard, a division of ORIX Real Estate Capital, recently refinanced a senior living community in Chambersburg, Pennsylvania. Providence Place Senior Living, a family-owned operator that is headquartered in Hershey, Pennsylvania, owns the 17-acre campus, which features a mix of independent living, assisted living and memory care units. Monthly rates start at $3,082 for independent living, $4,122 for assisted living and $4,411 for memory care. It is located three miles from the Chambersburg Hospital.  Miles Kingston, Doug Harper and Casey Moore of Lancaster Pollard secured an $11.5 million loan through its Fannie Mae Seniors Housing program. The loan came with a long term and... Read More »
Lancaster Pollard Closes Hawaii SNF Refinance

Lancaster Pollard Closes Hawaii SNF Refinance

Lancaster Pollard Mortgage Company followed up its HUD refinance of an assisted living/memory care community in Minnesota for a deal in a much more hospitable year-round climate. Doug Harper and Casey Moore of Lancaster Pollard headed to Honolulu, Hawaii (lucky guys) to arrange permanent financing for a senior living community located on the slopes of Punchbowl Crater, an extinct volcanic cone in downtown Honolulu.   Owned by MW Group, Ltd., the community was built in 2003 and renovated in 2017. It currently consists of 68 independent living, 20 assisted living and 20 memory care units, and is one of six seniors housing and care properties in Hawaii operated by The Plaza Assisted... Read More »
Lancaster Pollard Refinances Minnesota Community

Lancaster Pollard Refinances Minnesota Community

Working on behalf of a repeat customer, Lancaster Pollard Mortgage Company secured a HUD loan for a 138-unit assisted living/memory care community in Chaska, Minnesota (Minneapolis MSA). Developed by Trident Development and operated by the borrower, Tealwood Senior Living, which manages over 38 skilled nursing and assisted living facilities in Minnesota and Wisconsin, the property was originally developed in 2015. It was funded in part by Tax Increment Financing from the Chaska Economic Development Authority.   The property consists of two buildings connected by both a ground-level breezeway and upper level hallways. There are 66 assisted living “light” units that are certified for... Read More »
Four Refinancings From Lancaster Pollard

Four Refinancings From Lancaster Pollard

Lancaster Pollard announced a series of refinancings for both skilled nursing and seniors housing clients, for over $70 million in total volume across four transactions. First up, Oriol Health Care, a family-owned business, obtained a $16.2 million HUD loan to consolidate their debt with one lender, eliminate interest rate risk associated with a swap, fund repairs and also reimburse capital expenditures at its 123-bed skilled nursing facility in Holden, Massachusetts. The Oriol family built the facility in 1965 but recently expanded it to include a respiratory care unit, a home health care business and therapy services. They own one other facility in the state. Aaron Becker and Adam Walter... Read More »