• Q2 Senior Care M&A Falls To Seven-Year Low

    Well, we can’t say we aren’t surprised. COVID-19 and the economic ramifications stemming from social distancing and quarantine measures took a toll on seniors housing and care M&A, leaving the sector with just 59 publicly announced transactions in the second quarter. Back in early April, we said the second quarter’s deal total would... Read More »
  • Senior Living Investment Brokerage Announces Four Closings

    The floodgates opened at Senior Living Investment Brokerage. Just as we entered July, the firm announced four closings for three skilled nursing facilities and a memory care community. Jason Punzel, Brad Goodsell and Vince Viverito first represented a local owner/operator in their sale of a 59-unit memory care community in Springfield, Oregon... Read More »
  • Blueprint Handles Large Pacific Northwest Disposition

    Amy Sitzman, Dan Mahoney and Blake Bozett of Blueprint Healthcare Real Estate Advisors handled the sale of eight small assisted living communities divided evenly between Washington and Oregon. News of the deal came out in June with two separate acquisition financing announcements from JD Stettin of Carnegie Capital, the first for the Oregon... Read More »
  • Returning Home To Assisted Living

    After being pulled out of her assisted living community because of the pandemic, a mother asks to return “home.” In the June issue of The SeniorCare Investor we wrote about how an industry professional lost the argument with his younger sister about moving their mother out of her assisted living community and into the sister’s home.... Read More »
  • Fairstead Acquires Another Section 8 Senior Apartment Community

    It’s been less than a month since Fairstead, a fully-integrated real estate firm focused on the development, acquisition and operation of affordable and mixed-income housing, purchased a 123-unit affordable senior apartment complex in Sunrise, Florida. But, the firm is doubling down on its strategy and acquired another complex in South Florida. ... Read More »
Invesque Invests In Dallas-Area Memory Care Communities

Invesque Invests In Dallas-Area Memory Care Communities

Invesque Inc. (formerly Mainstreet Health Investments) followed up on the completion of its acquisition of Care Investment Trust earlier this month by closing on three memory care communities in the Dallas, Texas area for $21.5 million, or about $188,600 per unit. All three communities total 114 units and are fully stabilized, with all private pay residents. Invesque added the properties to a new absolute net master lease agreement with Constant Care Management Company, featuring an initial 15-year term and two five-year extension options. The relationship doesn’t stop there, with Invesque also receiving a first right to fund and acquire the next three seniors housing projects developed... Read More »
Mainstreet growth

Mainstreet growth

Mainstreet Health Investments (Mainstreet) is adding seven seniors housing and care properties to its portfolio from several sellers, representing a total purchase price of approximately $152 million. First, the company bought four Mainstreet Property Group (MPG)-developed transitional care/assisted living facilities, which are scheduled to open between November 2016 and March 2017 in Texas and Kansas, for $92.8 million, or almost $247,000 per bed, with a year-one cap rate of 7.7%. The Ensign Group will manage the facilities. Second, Mainstreet is acquiring one transitional care/memory care facility in Evanston, Illinois from its existing operating partner Symphony Post-Acute Network for... Read More »

Mainstreet Does Canada….Again

Perhaps one of the most dynamic firms in the senior care market, Mainstreet is at it again with a new publicly traded platform in Canada. Its last Canadian entity was sold to Health Care REIT (now Welltower) last year for a tidy profit. Using its recently announced acquisition of a portfolio of skilled nursing facilities in the Chicago market, Mainstreet has agreed to do a reverse merger with a shell company that is publicly listed in Canada that, when completed, will take the new name of Mainstreet Health Investments (MHI). And guess who will be the CEO of the new entity? None other than Zeke Turner, Mainstreet’s founder and CEO. MHI plans to buy skilled nursing, assisted living and... Read More »