• Public REIT Lands Portfolio in Competitive Sale

    A portfolio of Class-A seniors housing communities sold in the Southeast to an undisclosed publicly traded REIT. Featuring six assets in Georgia and South Carolina, the portfolio totaled 156 independent living, 200 assisted living and 70 memory care units. The communities were built between 2017 and 2022 by a Southeast-based developer. Occupancy... Read More »
  • Regional Owner/Operator Acquires Ocala AL Community

    The third and final asset in the Hampton Manor portfolio has sold with the help of Brad Clousing and Dan Geraghty of Senior Living Investment Brokerage. Hampton Manor Deerwood in Ocala, Florida, was built in 2005 and expanded in 2016 to now feature 61 units of assisted living. The property is stabilized, so the new owner can hit the ground... Read More »
  • Second Generation Operator Divests SNF Portfolio to PE Firm

    A Northeast-based private equity firm engaged Daniel Morris of Plains Commercial Real Estate in its plan to enter a new state. The firm has an existing skilled nursing footprint, and had specific acquisition criteria, which narrowed the focus down to a few potential targets.  The company ultimately acquired a five-facility, 506-bed skilled... Read More »
  • CIBC Springs Ahead with Deal Flow

    CIBC has been hard at work this Spring, successfully closing several acquisition financings for senior care clients across the country. The largest was a $51.5 million term loan that supported the purchase of four skilled nursing facilities in Illinois totaling 586 beds. Historical performance trended positively over the last two years across the... Read More »
  • National Healthcare Properties Kicks Off IPO Push

    National Healthcare Properties, Inc. launched its public offering of 38.5 million shares of its Class A common stock pursuant to a registration statement on Form S-11 filed with the SEC. The initial public offering price is expected to be between $13.00 and $16.00 per share, and the company expects to grant the underwriters a 30-day option to... Read More »
Leaving with Grace

Leaving with Grace

While attending the NIC conference in Washington, D.C. last week, I learned that Gene and Mari Jo Grace of Grace Management are retiring after nearly 33 years in the seniors housing and care business. I have known them for most of that 33 years, and I feel like the industry is losing not only two very top-notch professionals, but two friends. The respect they command, and the friendship they have shown to so many over the years is unparalleled, not to mention the depth of their industry knowledge and history. They have seen it all. Two years ago, they sold their company to Chicago Pacific Founders (CPF) but continued on in their roles. In those two years, with the help of John Rijos and... Read More »
Welcome to NIC

Welcome to NIC

As we all descend upon D.C., please take some time to stop and chat with us at the conference. So, the 26th annual NIC Conference is upon us. I wonder what the big topic will be this year, if any. In years past there have been exciting developments right before or during the conference, such as Sunrise Senior Living’s share price plunging, or Formation Capital’s billion dollar plus sale of SNFs to GE, or last year the spin-off of skilled nursing assets by Ventas into a new REIT. Will people be talking about Welltower’s billion-dollar acquisition of Vintage Senior Living? Or will it be the upcoming skilled nursing spin-off by HCP? Whatever it is, we will be listening and trying to discern... Read More »

Riding Into NIC With A Market Disconnect

With the 25th annual NIC Conference upon us, the public markets seem to be crashing, and Brookdale Senior Living will be topic number 1. If you can believe it, this will be my 25th straight NIC annual conference. Yes, every one of them since the first one in Washington, D.C. when there were maybe 500 attendees. I happened to be one of the plenary speakers, giving the state of the skilled nursing market report. The funny thing was, the NIC organizers had to send someone to “check me out” to see if I was legit. Well, I hope over the last 25 years I have been successful in establishing my legitimacy. But you never know. As we all arrive today in Washington, perhaps the biggest topic will be... Read More »