• Borrower Refinances and Recapitalizes SNF Portfolio

    Capital Funding Group closed a $72.4 million bridge financing on behalf of a nationally-recognized borrower. It will support the refinancing and dividend recapitalization of a skilled nursing portfolio comprising nine facilities throughout Georgia, North Carolina and South Carolina. CFG aligned the bridge financing with a clear path to permanent... Read More »
  • Ciel Senior Living Takes Over Former Brookdale Senior Living Communities

    The management of eight senior living communities owned by Janus Living, Healthpeak Properties’ spinoff REIT, recently transitioned from Brookdale Senior Living to Ciel Senior Living. The properties are part of a larger 19-asset portfolio that Healthpeak Properties and a sovereign wealth fund owned, but Healthpeak acquired its joint venture... Read More »
  • Not-for-Profit Selects New President and CEO

    Sloan Bentley has been selected to serve as President and Chief Executive Officer of Pacific Retirement Services (PRS), a not-for-profit senior living organization based in Medford, Oregon. Bentley’s effective start date will be determined based on the closing of a financial restructuring for her current employer. She has a 40-plus year career in... Read More »
  • Healthcare REIT Divests SNF to In-Place Operating Partner

    Senior Living Investment Brokerage returned to West Des Moines, Iowa, to sell a skilled nursing facility that it had previously sold in 2019. A healthcare REIT was the buyer back then and is now selling the facility to its in-place regional operating partner. Built in 2004, Arbor Springs features 56 beds on an attractive four-acre campus about 10... Read More »
  • Near-Stabilized AL/MC Community Lands Refinance

    Carnegie Capital closed a bridge refinance for a 50-unit assisted living/memory care community in the Houston, Texas MSA. Four years ago, the property was bought by a California-based operator with a growing footprint in Texas. Performance was approximately two to three months from stabilization, but with the acquisition loan maturity looming, a... Read More »
The Sky Is Falling, At Least At Skyline

The Sky Is Falling, At Least At Skyline

Over the past couple of years, we have been watching as a company called Skyline Healthcare seemed to come out of nowhere to becoming a national operator of skilled nursing facilities with perhaps 120 or more facilities under management. This has occurred in a very short period of time, and many of their properties came from Golden Living, as that company, after some run-ins with various state regulatory agencies, switched from being an operator to a landlord. To do that, you need a lot of providers to step in and lease your buildings, or maybe a few to take over operations for a lot of them. It looks like Skyline became a go-to provider for them. Two states, however, have taken over... Read More »