• SLIB’s Red-Hot Start to May

    Senior Living Investment Brokerage shot out of the gates in May, announcing six separate closings within just a couple of days. The closings included a couple of portfolios, two seniors housing asset sales and two skilled nursing deals. SLIB is on track for another record-breaking year. The largest deal was an eight-property seniors housing... Read More »
  • Independent Living Asset Near Breakeven Changes Hands

    Blueprint handled the sale of a 60-unit independent living community located just outside of Cleveland, Ohio. At the time of sale, the property was operating around breakeven and offered the opportunity for upside. The option to transition the community to an assisted living waiver model was presented, but the incoming regional owner/operator... Read More »
  • National Health Investors Leans Further Into SHOP Growth

    National Health Investors is continuing to lean into its SHOP segment, having invested $742.5 million into the strategy throughout the first quarter, a 106% increase from the prior year period. Year-to-date, the REIT has announced $212.4 million of investments, and is continuing to evaluate additional opportunities, focusing on private pay... Read More »
  • Senior Care Portfolio Secures Refinancing

    T7 Capital, a boutique seniors housing and healthcare advisory firm founded by industry veterans Ari Adlerstein and Josh Simpson, recently arranged a large bank refinancing for a portfolio of seniors housing and skilled nursing assets in Massachusetts. Working on behalf of a New York-based family office, T7 secured a $57.979 million loan from... Read More »
  • Regional Bank Provides Financing for MC Community

    Jeremy Warren of Montgomery Intermediary Group arranged a refinancing for a client’s 48-unit memory care community in Merrillville, Indiana. Originally built in 2016, the community was stabilized and had an approaching debt maturity. The owner sought to retire both the existing bank debt and an outstanding seller note from the initial... Read More »
Omega Healthcare Investors Snags Small REIT

Omega Healthcare Investors Snags Small REIT

Omega agrees to buy MedEquities Realty Trust in a cash and stock deal worth $632 million plus assumed debt. I hope everyone had a good break these past few days. Everyone, that is, except the folks at Omega Healthcare Investors and MedEquities Realty Trust (MRT). Omega announced today that it is buying MedEquities in a stock and cash transaction valued at about $633 million plus $265 million of net debt. Shareholders are receiving a very healthy 50% premium. MRT owns 34 facilities in seven states with 2,755 beds run by 10 different operators. About 75% of the beds are skilled nursing with some assisted living, and the remainder is a smattering of LTACs, IRFs, behavioral health and an MOB.... Read More »
Senior Care Stocks Swoon….Again

Senior Care Stocks Swoon….Again

The 2017 Trump rally has left senior care and healthcare REIT stocks behind. It looks like the so-called Trump stock market rally is continuing into 2018. Weirdly, several senior care stocks shot up in the first day of trading yesterday. Where were investors last year? Unfortunately, 2017 was about as bad as it gets for our sector. Only one company posted an increase in price, and that was Kindred Healthcare, which is actually exiting our sector with its last sales of its SNFs. So, everyone else declined, and almost all of them by double digits, in a year when the rest of the market posted extraordinary returns. The NASDAQ Composite was up 28.2%, the Dow was up 25.1% and the S&P 500... Read More »
And the vote is in…

And the vote is in…

On October 13, our editor Steve Monroe moderated a webinar called “Skilled Nursing: Buying, Selling & Valuing,” with panelists Ben Atkins, Chairman of Traditions Senior Management, Charles Bissell, Executive Director of Integra Realty Resources, Ben Firestone, Senior Managing Director & Founding Partner of Blueprint Healthcare Real Estate Advisors, and Stephen Graham, SVP/Director of Post-Acute Acquisition & Development of MedEquities Realty Trust. During the 90 minutes, we posed two poll questions to our listeners and got some interesting results. First, in response to “Should high acuity, subacute SNFs sell with a higher or lower cap rate than more traditional SNFs?,” 55% of... Read More »

A new public REIT

We have a new publicly traded healthcare REIT. MedEquities Realty Trust priced its 19.9 million share IPO at $12.00 per share, which was at the low end of the potential range of $12.00 to $14.00 per share. It opened at a slight discount of $11.50 per share yesterday in a day that the overall market tanked. The company invests in skilled nursing facilities, hospitals, LTACs and other healthcare real estate properties. It may be small now, but we are sure it will be out there scouting new acquisitions. The new shareholders are counting on it. FBR, J.P. Morgan, Citigroup, KeyBanc Capital Markets, Raymond James and RBC Capital Markets served as joint book-running managers Read More »