• Bourne Acquires AL/MC Asset (with HUD Debt)

    by | May 3, 2024 3:33 pm | Acquisitions

    Representing a regional owner/operator, Evans Senior Investments successfully sold Trinity Hills of Knoxville, an 80-unit assisted living/memory care community in Knoxville, Tennessee. Built in 2006, the community features 66 AL and 14 MC units, all serving private pay residents. Occupancy was strong at the time of marketing, at 92%, and it... Read More »

  • Berkadia Finances Clarendale Clayton

    by | May 3, 2024 3:28 pm | Financings

    Berkadia refinanced Clarendale Clayton, a best-in-class seniors housing community in Clayton, Missouri (St. Louis MSA), that offers the full continuum of care in a high-end, resort-style setting. Opened in 2021, the 13-story property features 283 units of independent living, assisted living and memory care.  Managing Director Austin Sacco of... Read More »

  • Multifamily Investor Buys Ohio IL Community

    by | May 3, 2024 3:25 pm | Acquisitions

    An independent owner/operator chose to strategically divest its 102-unit independent living community in a prominent suburb of Cleveland, engaging Blueprint to get the deal done. Built in the late 1980s, the purpose-built community was stabilized, cash-flowing and well occupied. Plus, there was upside through a capital deployment plan. Few of... Read More »

  • Dwight Capital Announces Q1 Activity

    by | May 3, 2024 3:23 pm | Acquisitions, Financings

    Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed $152.5 million in transactions during the first quarter of 2024. Among the transactions were a $44 million bridge loan for a 369-bed, seven-story skilled nursing facility in the Southwest U.S. The bridge loan, which closed in conjunction with a $5 million revolving line of... Read More »

  • Ensign Announces Eight Acquisitions

    by | May 2, 2024 4:19 pm | Acquisitions

    April showers apparently brought The Ensign Group acquisitions this May, as the publicly traded provider announced eight separate deals, including four where its captive REIT Standard Bearer Healthcare REIT acquired the real estate. Two of the deals in Kansas and Arizona were profiled here, with Senior Living Investment Brokerage handling the... Read More »
Atrium Health Suffers

Atrium Health Suffers

by | Sep 12, 2018 7:02 am | 60 Seconds, Opinion

The New Jersey-based skilled nursing and assisted living operator puts 33 of its properties into receivership. Not good for the lenders. I am sure you have heard by now about Atrium Health and Senior Living placing 33 of its properties into receivership this week. This includes all their Wisconsin properties and one Michigan facility, but appears to leave out its 12 buildings in New Jersey. Atrium operates both skilled nursing and assisted living, and only nine assisted living communities in Wisconsin were placed in receivership; the remainder were SNFs. The receiver has hired Health Dimensions Consulting to operate them during the receivership until it is decided whether to split them up... Read More »
Oregon Operator Refinances Bond Debt

Oregon Operator Refinances Bond Debt

by | Aug 21, 2018 11:37 am | Financings

The long-term owner of an assisted living/memory care community in Oregon went to MidCap Financial to help recapture equity for its other development projects and to fund property improvements. Caring Places, an operator of 11 communities in Washington and Oregon, secured a $4.65 million floating-rate loan, with a three-year term, to refinance bond debt on its 66-unit community in Forest Grove (Portland MSA). Featuring 44 assisted living and 22 memory care units, the property was originally developed by Caring Places in 1991. That long-term vision will continue, as Caring Places looks to eventually refinance this first mortgage through HUD. Read More »
MidCap Financial Arranges Acquisition Financing For Southwest Senior Living

MidCap Financial Arranges Acquisition Financing For Southwest Senior Living

by | Mar 29, 2018 2:40 pm | Acquisitions, Financings

MidCap Financial worked on behalf of Palatine Capital Partners Management to arrange financing for the purchase of a senior living community in the Southwest. Palatine, an investment firm focused on small- and mid-cap real estate assets, acquired a 145-unit senior living community that is roughly split evenly between independent living and assisted living. Well-located and purpose-built in the late 1990s, the community was in need of significant renovations. So, in addition to funding the acquisition, the $9.0 million floating rate loan will enable Palatine to implement a $2.5 million capital improvement plan at the community to renovate the exteriors, common areas and unit... Read More »
MidCap Financial Finances Georgia Portfolio Acquisition

MidCap Financial Finances Georgia Portfolio Acquisition

by | Jan 19, 2018 7:02 am | Acquisitions, Financings

Lawrence “Lory” Brin of MidCap Financial recently helped facilitate Artemis Real Estate Partners and Allegro Senior Living’s acquisition of three Atlanta-area assisted living communities by arranging an $18.25 million loan. The floating rate first mortgage will also enable the buyers to reposition the communities and invest $7 million of capital improvements to renovate the exteriors, common areas and unit interiors. Built from 1998 to 2000, the communities are located in Buckhead (46 assisted living and 22 memory care units), Alpharetta (48 AL and 24 MC units) and Marietta (28 AL and 27 MC units). The deal marks Allegro Senior Living’s entry into the state, and the company will also... Read More »

MidCap Financial’s On A Mission

by | Oct 12, 2017 7:00 pm | Financings

MidCap Financial is back in the news, having provided a $17.5 million bridge-to-HUD loan to an assisted living/memory care community in Reno, Nevada. The three-year, floating-rate loan will take out construction debt and recapture equity in the property, which was developed in 2016 with 116 total units. Lease-up was quick, reaching 88% occupancy within a year of opening. Mission Senior Living, based in nearby Carson City, owns and operates the community, along with four others in Oregon, Nevada and Arizona, and a couple more in the development pipeline. Read More »