• Inland Acquires Class-A Asset

    Inland Real Estate Acquisitions announced its acquisition of a high-end seniors housing community in Monument, Colorado (between Colorado Springs and Denver). We heard about the Class-A transaction about six weeks prior, when Vince Viverito, Jason Punzel, Jake Anderson and Taylor Graham of Senior Living Investment Brokerage announced their... Read More »
  • Institutional Investor Acquires Oklahoma SNF at Record Price

    A private investor looking to exit the skilled nursing business to focus on other ventures recently sold its Oklahoma City, Oklahoma, asset. The building is one of the newest skilled nursing facilities in the state.  The facility had a strong census at the time of sale, but there was some upside with a shift in the operating model. Daniel... Read More »
  • PE Firm Sells Community in Texas

    A seniors housing community in the Dallas-Fort Worth MSA recently traded with the help of Nick Stahler, Austin Diamond and Hap Knowles of The Knapp-Stahler Group at Marcus & Millichap. The large community, which features more than 200 units and 230,000 square feet, includes 163 independent living, 42 assisted living 15 and memory care units.... Read More »
  • DST Investor Buys Idaho MC Community

    A leading DST investor recently acquired a memory care community in northern Idaho. Set in the town of Rathdrum, about 25 miles northeast of Spokane, Washington, Generations Memory Care features 48 private units and is managed by Senior Services of America, an experienced regional operator with 15 properties in Washington, Oregon and Idaho. It... Read More »
  • Thrive Adds Three Assets in Georgia

    Thrive Senior Living grew its presence in its home state of Georgia, with the addition of three seniors housing communities. Developed by the Sawyer family between 2019 and 2022, the communities operated under the At Home Senior Living brand and are located in Cochran, Thomson and Jesup. Beginning in 2024, Thrive partnered with the Sawyer family... Read More »
NHI Finances CCRC Expansion Project in Phoenix

NHI Finances CCRC Expansion Project in Phoenix

The Phoenix, Arizona market has been a hotbed of senior living construction activity thanks to its rapidly growing retiree population, and a large CCRC catering to high-income residents is looking to capture part of that growth with an independent living expansion. Sagewood already has 316 independent living units, 44 assisted living units, 28 memory care units and 78 skilled nursing beds. Demand for independent living was strong (with the IL units fully occupied in 2018), so ownership decided to build a Phase II, which included 101 more units. It was clearly the right decision, as 96% of the new IL units are already presold, with entrance fees projected to average $700,000. Recently, the... Read More »
Big Rock Partners’ Next Big Project

Big Rock Partners’ Next Big Project

No stranger to big senior living projects, Big Rock Partners (BRP) announced it will be building its second senior living community in Palm Beach County, Florida, at an estimated cost of $150 million, or over $530,000 per unit. BRP kicked it off with the $9 million acquisition of a 15-acre site in Delray Beach, where it will build 185 independent living, 50 assisted living and 44 memory care units. LCS will operate the community upon completion in 2021. Trez Forman Capital financed the land acquisition, and Al Rex of Walker & Dunlop is the project’s financing advisor. Last year, BRP opened a 320-unit community in Lake Worth at a cost of $106 million, which means the company’s total... Read More »
BMO Secures Two Acquisition Financings

BMO Secures Two Acquisition Financings

As joint venture partners TH Real Estate (an affiliate of Nuveen, the investment management arm of TIAA) and LCS continue their acquisition activity, BMO Harris Bank’s Healthcare Real Estate Finance group got in on the action and arranged acquisition financing for two of the deals. First, the firm acted as sole lender for a $14.4 million term facility for a CCRC in Palm City, Florida with 225 independent living units, 20 assisted living units and 36 skilled nursing beds. They again acted as sold lender for another $12.3 million term facility arranged for a CCRC in Essex, Connecticut with 189 independent living units (including 13 cottages) and 45 skilled nursing beds. Read More »
CBRE Adds Another Bridge Lending Option

CBRE Adds Another Bridge Lending Option

Bridge loans are the hottest lending product for seniors housing and care right now (we’re actually hosting a webinar on that very subject next month), and CBRE Capital Markets is expanding its presence in that market with a large new vehicle aimed at providing more flexible short-term loans to seniors housing and multifamily borrowers. The program is called MF1 Capital, LLC and was structured as a mortgage REIT focused on providing equity to multifamily (about 75% of its business) and seniors housing (the remaining 25%) owners. CBRE’s strategic partners on the vehicle include multifamily real estate investment management firms Limekiln Real Estate and Berkshire Group. What sets this... Read More »
CBRE’s Late-Summer Surge

CBRE’s Late-Summer Surge

CBRE’s Aron Will has been on a roll lately, having just closed his fifth transaction in under a month. The latest helped fund the acquisition of four seniors housing communities in the Louisville, Kentucky and Indianapolis, Indiana MSAs. They actually represent the stabilized properties within a seven-property portfolio acquisition (totaling 688 units) that CBRE also provided financing for. Totaling 360 units, of which 278 are dedicated to assisted living and the remainder to memory care, the stabilized portfolio has been third-party managed by LCS since 2015 and will continue to be. The buyer, a joint venture between LCS and TH Real Estate, the real estate private equity affiliate of... Read More »