• 60 Seconds with Swett: October Smashes M&A Record

    We were predicting a record-breaking end to the year in terms of M&A activity, but we are not sure we expected a 100+ deal month, with 110 transactions and counting. Just to put that in perspective, the previous record for any month was 77 deals in October of last year, and only four months had previously broken the 70-deal barrier. So this... Read More »
  • Newmark Ends October with Portfolio Closings

    Newmark announced a flurry of transactions at the end of October involving various institutional firms. The largest was a portfolio of seniors housing communities in the Northeast known as “Stars and Stripes.” Word on the street is that the portfolio sold for north of $800 million, and that a sub-portfolio was valued at more than $1 million per... Read More »
  • Stacked Stone Acquires Missouri Portfolio

    Stacked Stone Ventures announced the purchase of a seven-community assisted living/memory care portfolio in Missouri for $71 million, or $212,600 per unit. Totaling 334 units and 405 beds, the Oak Pointe portfolio was developed between 2015 and 2020 by an investor group called ClearPath Senior Housing, which included Jeff Binder of Senior Living... Read More »
  • Blueprint Sells Georgia Community to LTC Properties

    LTC Properties divested seven skilled nursing facilities through two separate deals for $122 million in October. In those transaction announcements, the publicly traded REIT noted that it intended to redeploy proceeds for the acquisition of newer, stabilized SHOP assets. It looks like that’s what the publicly traded REIT did in Georgia at the... Read More »
  • MIG Announces Two Closings

    Montgomery Intermediary Group announced a couple of transactions at the end of October. First, Andrew Montgomery sold a 120-bed skilled nursing facility in southern Illinois in a value-add deal. Built in the 1960s and 1970s, the facility had a roughly 50% Medicaid census, with between 30% and 35% private pay and 5% to 10% Medicare. It was losing... Read More »
Saudi Investment Team Adds to Florida Portfolio

Saudi Investment Team Adds to Florida Portfolio

Real estate giant Madison Marquette has teamed up with Saudi Arabia-based Arbah Capital to build a $37 million senior living community in Punta Gorda Isles, Florida.  This high-quality, 135-unit community has 116,000 square feet, making the total price per square foot $319. It is scheduled for completion in early 2023 and will be operated by Meridian Senior Living. Banesco USA provided the debt for the project.  Tampa-based Diaz Fritz Group is the project’s general contractor and St. Louis-based CASCO+R|5 is the architect. This is the second enterprise for the Madison Marquette-Arbah Capital duo. They previously joined together to build a 117,000-square foot, 144-unit... Read More »
GFH Capital Gets Financing From Greystone

GFH Capital Gets Financing From Greystone

Last month, Dubai-based private equity firm GFH Capital jumped into the senior living market in a big way, acquiring a group of six properties for a total purchase price over $180 million. Now, Greystone has announced that it provided a total of $115 million in Freddie Mac and Fannie Mae Shariah-compliant financing to support the acquisition. Cary Tremper originated the financing on behalf of GFH (which will own 91% of the portfolio) and Washington, D.C.-based real estate investment firm Madison Marquette, which is acquiring another 6%. JEA Senior Living, Senior Resource Group, two of the three operating partners GFH has selected to manage the communities, have also each co-invested in... Read More »