• Interview with Bryan Lockard of JLL Value and Risk Advisory

    Ben Swett, Managing Editor of The SeniorCare Investor, sat down with Bryan Lockard of JLL Value and Risk Advisory to discuss JLL’s 2024 Seniors Housing and Care Investor Survey and Trends, which you can download here. Read More »
  • Wow…Sonida Senior Living

    The last company in our sector, Sonida Senior Living, finally reported fourth quarter and full-year 2023 earnings, and while pretty good, that was not even the story. The story started four weeks ago. In February, the company announced a series of capital transactions which reduced their debt, raised some equity, and provided liquidity to take... Read More »
  • Marcus & Millichap Arranges SNF Leases

    After purchasing four senior care campuses in a large portfolio deal, a seniors housing owner/operator turned to Marcus & Millichap to find new tenants for the skilled nursing portions of each newly acquired campus. Each building was losing close to $1 million annually and had struggled with occupancy and expenses.  While the portfolio... Read More »
  • LSS Absorbs Diakon

    Two large not-for-profits announced that they were combining to create the 12th largest not-for-profit senior living organization in the country. Lutheran Senior Services, based in St. Louis, Missouri, signed an agreement to bring Diakon Senior Living operations and four CCRCs under its umbrella. Both organizations were described by Adam Marles,... Read More »
  • SNF Under Receivership Is Acquired in Kansas

    Marcus & Millichap was brought on by a limited liability company in the sale of a skilled nursing facility in Topeka, Kansas, that was under receivership. The facility, Providence Living Center, comprises 78 beds across 24,000 square feet and focuses on senior residents with mental health needs. Rod Llanos and Colby Haugness handled the... Read More »
Private Equity Taking Center Stage

Private Equity Taking Center Stage

In every investment cycle, there are different factors that impact valuations and transaction volume. In the seniors housing and care acquisition market, there have been periods when public REITs came to dominate acquisition activity, then there were nontraded REITs that took center stage (at least for smaller transactions), and there has been the private equity (PE) market, which has very different investment criteria and time horizons than many of the other buyers. The two largest acquisitions by private equity firms in the seniors housing and care market occurred about 10 years ago. This was The Carlyle Group’s acquisition of Manor Care for $6.3 billion and The Fortress Group’s purchase... Read More »
Bed Sores and Advertising

Bed Sores and Advertising

Law firm advertising may be hitting a new low. I like to watch the news when I eat breakfast, and I must say, Brookdale Senior Living has been bombarding the airwaves with their folksy ads with real employees. Every morning, at least one ad. But the past two mornings, I had the unpleasant experience of seeing a completely different sort of ad, and something I had only seen in Florida over the years. It was for a law firm, and it was asking whether you or a loved one had experienced any number of problems at a skilled nursing facility. An unexplained fall, bruising or weight loss? The worst of it was the phone number they wanted you to call. It was 1-800-bed-sore. Really? Bed sore? I know... Read More »

Experienced developers ready to roll out new 20-property pipeline

The Bainum family is well-known in this industry. Stewart Bainum Sr. began building nursing homes in the late 1950’s and eventually formed Manor Care, which was known as a leader in the nursing home business, not only for is size but also for the quality of its homes. In the 1980s, the Bainums pioneered the development of specialized memory care in their nursing homes, and after Manor Care’s merger with HCR, the family invested in a new assisted living/memory care development company, Somerford Corp. About three years ago, Stewart Bainum Jr. approached Don Feltman, who had started working for Manor Care in his sophomore year of college, to assemble a team of experienced individuals from... Read More »