• 60 Seconds with Swett: Senior Care’s PR Problem

    Recently, we have seen stories circulating about the connection between REIT ownership and the way skilled nursing facilities provide care, stemming from a study written by the nonprofit journalism outlet KFF Health News. We’ve seen this before, headlines like “real estate investors profit while patients suffer,” usually with graphic cases of... Read More »
  • Blueprint Sets Pricing Record in New York State

    Blueprint advised a repeat private equity client in a record-setting sale of two standalone memory care communities in high barrier-to-entry submarkets in New York State. Combining for 104 units, these assets were purpose-built in the late 1990s and were stabilized at the time of the deal. Not only that, they were generating cash flow in excess... Read More »
  • CareTrust Keeps Its Foot on the Gas

    CareTrust REIT has deployed nearly $1 billion in closed transactions so far this year, after closing around $1.8 billion in investment activity in 2025, and its pipeline includes $450 million of near-term, actionable opportunities, excluding larger portfolio transactions. The REIT announced that it closed a few separate transactions in mid-April,... Read More »
  • VIUM Capital Announces Slew of HUD Closings

    VIUM Capital closed four HUD 232/223(f) financings in March totaling more than $63 million across a mix of skilled nursing and seniors housing communities. Two of the financings involved skilled nursing facilities in Oklahoma totaling 176 beds. The assets were originally acquired as part of a larger portfolio and refinanced following a... Read More »
  • Lument Secures HUD Express Lane Transaction

    Lument closed a refinance through HUD’s Express Lane for a 120-unit seniors housing community in Lincoln, Nebraska. Built in 2017, Pemberly Place Senior Living features 132 licensed beds and offers independent living, assisted living and memory care services. It also has an on-site medical clinic to offer a range of other healthcare services. The... 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 »