• Q2 Senior Care M&A Falls To Seven-Year Low

    Well, we can’t say we aren’t surprised. COVID-19 and the economic ramifications stemming from social distancing and quarantine measures took a toll on seniors housing and care M&A, leaving the sector with just 59 publicly announced transactions in the second quarter. Back in early April, we said the second quarter’s deal total would... Read More »
  • Senior Living Investment Brokerage Announces Four Closings

    The floodgates opened at Senior Living Investment Brokerage. Just as we entered July, the firm announced four closings for three skilled nursing facilities and a memory care community. Jason Punzel, Brad Goodsell and Vince Viverito first represented a local owner/operator in their sale of a 59-unit memory care community in Springfield, Oregon... Read More »
  • Blueprint Handles Large Pacific Northwest Disposition

    Amy Sitzman, Dan Mahoney and Blake Bozett of Blueprint Healthcare Real Estate Advisors handled the sale of eight small assisted living communities divided evenly between Washington and Oregon. News of the deal came out in June with two separate acquisition financing announcements from JD Stettin of Carnegie Capital, the first for the Oregon... Read More »
  • Returning Home To Assisted Living

    After being pulled out of her assisted living community because of the pandemic, a mother asks to return “home.” In the June issue of The SeniorCare Investor we wrote about how an industry professional lost the argument with his younger sister about moving their mother out of her assisted living community and into the sister’s home.... Read More »
  • Fairstead Acquires Another Section 8 Senior Apartment Community

    It’s been less than a month since Fairstead, a fully-integrated real estate firm focused on the development, acquisition and operation of affordable and mixed-income housing, purchased a 123-unit affordable senior apartment complex in Sunrise, Florida. But, the firm is doubling down on its strategy and acquired another complex in South Florida. ... Read More »
Seniors Housing M&A Market Comes to Life

Seniors Housing M&A Market Comes to Life

Welltower’s recent announcement of two portfolio sales at low cap rates during the pandemic bodes well for the market. It has been a quiet past few weeks in the seniors housing M&A market. Last week was the first time we can remember when we have gone an entire week without one announced acquisition. That leaves us worried as to the liquidity in the market and what we may expect in the coming weeks. Well, we breathed a sigh of relief when Welltower announced two separate transactions for seniors housing portfolios completed by Newmark Knight Frank with a total value close to $800 million. When the MOBs are added in, the total comes to about $1.3 billion.  More details on these... Read More »
Newmark Knight Frank Handles Welltower’s $1.3 Billion Sale

Newmark Knight Frank Handles Welltower’s $1.3 Billion Sale

There were rumors circulating last month of a major portfolio sale by one of the healthcare REITs, and given the dearth of deals in May, we clung on to the promise of it. Well, on June 1, Welltower announced not one, but two large seniors housing portfolio dispositions, along with a major medical office building sale, all combined for a roughly $1.3 billion purchase price. Ryan Maconachy and Chad Lavender of Newmark Knight Frank handled the transactions, bringing one of them from NDA to closing in just 45 days, including securing agency financing to fund it. To close any deal these days is exceedingly difficult, not only one of this scale, so well done to the Newmark team.   It certainly... Read More »
Healthpeak Properties’ Florida Sale Handled By Newmark

Healthpeak Properties’ Florida Sale Handled By Newmark

Newmark Knight Frank has closed another seniors housing sale in the middle of the COVID-19 crisis, representing Healthpeak Properties in its sale of a community in Lantana, Florida. Originally built in 1986, the property features 173 total units, with 115 for independent living and 58 for assisted living residents. Occupancy was around 83%. Operated by Atria Senior Living, the community was bought by Pacifica Senior Living, which paid $12.35 million, or under $72,000 per unit. Ryan Maconachy, Chad Lavender, David Fasano and Ross Sanders of Newmark handled the transaction, and Bank of the West provided a $10.4 million mortgage to fund the deal.   Apparently, the property... Read More »
MonticelloAM Funds SNF Portfolio Acquisition

MonticelloAM Funds SNF Portfolio Acquisition

The team at MonticelloAM arranged acquisition financing for an experienced owner/operator’s purchase of six skilled nursing facilities across the state of Arkansas. Built in the 1980s and 1990s, the portfolio consists of 868 total beds. Occupancy averaged between 83% and 84% under the management of an affiliate of Capital Health Group. Private REIT CNL Healthcare Properties was the seller, hiring Newmark Knight Frank to run the sales process. The deal closed in early March.  The purchase price came to $55 million, or $63,400 per bed, and was financed by $50 million in first lien debt, with a 36-month term, provided by MonticelloAM. Included in the transaction was a $2 million working... Read More »
Newmark Sells Skilled Nursing Portfolio

Newmark Sells Skilled Nursing Portfolio

Newmark Knight Frank sold a portfolio of six skilled nursing facilities in Arkansas earlier this month on behalf of CNL Healthcare Properties. There was a total of 868 beds, and according to CNL’s SEC filing, the reported price was $55 million, or $63,400 per bed. The facilities were built in the 1980s and 1990s and average occupancy was near 83% to 84%. An affiliate of Capital Health Group was the operator. An East Coast-based owner with operations already in Arkansas was the purchaser. Dave Fasano and Ross Sanders of Newmark Knight Frank handled the transaction.  Read More »