• Greystone Closes Large CLO

    Greystone closed a large collateralized loan obligation (CLO) composed solely of healthcare assets. Greystone CRE Notes 2025-HC4, LLC is a $451.6 million commercial real estate CLO backed exclusively by bridge loans provided by Greystone. The transaction marks the firm’s eighth overall CRE CLO and the industry’s fourth-ever CRE CLO composed... Read More »
  • Fortress Investment Group Divests Arizona Asset

    JLL Capital Markets has closed the sale of Inspira Arrowhead, a 165-unit seniors housing community in Glendale, Arizona. The community was under the ownership of Fortress Investment Group funds for just 18 months, but in that time occupancy rose from 89% to 94% and NOI improved by 35%. Fortress bought the asset in April 2024 in a joint venture... Read More »
  • Stacked Stone Makes Another Acquisition

    Stacked Stone Ventures, a real estate investment firm founded by Kent Eikanas, followed up on its October acquisition in Oklahoma with the purchase of two assisted living/memory care communities in Illinois, near the St. Louis MSA. Similar to the Oklahoma deal, Stacked Stone has made Illinois acquisition in a joint venture with the private equity... Read More »
  • Blueprint Handles Large SNF Deal in Pennsylvania

    Not-for-profit to for-profit are not easy, and it took a two-year process for Blueprint to successfully close the sale of a 250-bed skilled nursing facility in Philadelphia, Pennsylvania. The property appears to be Cheltenham Nursing & Rehabilitation, one of three skilled nursing facilities owned by Dublin, Ohio-American Health Foundation... Read More »
  • JDI Realty Buys Alpharetta Asset

    A partnership recently acquired Chapters Living of Alpharetta, a 79-unit assisted living/memory care community in Alpharetta, Georgia (Atlanta, MSA). Built in 2013, the high-quality community was previously known as Addington Place of Alpharetta. JDI Realty, in partnership with Purity Strategies and Chapters Senior Living, bought the community... Read More »
Blueprint to success

Blueprint to success

Blueprint Healthcare Real Estate Advisors has been on sort of a roll lately. We are only a third of the way through March, and already the firm has announced six transactions worth over $69 million. That includes both assisted living and skilled nursing too. The two most recent transactions, announced during NIC, jumped coast to coast. First, in Chicopee, Massachusetts, Steve Thomes and Tim Cobb teamed up to sell a 68-bed skilled nursing facility that had been owned and operated by a local provider since 1989. At the time of the sale, the facility was 92% occupied with a 20% quality mix. An experienced regional operator looking to grow its presence in the state was the buyer and paid $3.85... Read More »
Lancaster Pollard’s latest promotion

Lancaster Pollard’s latest promotion

Jason Dopoulos was recently promoted to Managing Director at Lancaster Pollard, after having been with the firm since 2007. With over $1 billion in transaction volume, ranging from bond transactions to mortgage loans for over 100 expansion, new construction and refinance projects. Currently managing Lancaster Pollard’s Newport Beach, California office, Mr. Dopoulos has worked with both taxable and tax-exempt borrowers to facilitate conventional and federal financing structures. He is also the chair of NIC’s Future Leaders Council. Mr. Dopoulos holds a master’s degree in business from the Fisher School of Business at Ohio State University and a master’s in health administration from Ohio... Read More »

Seniors Housing Occupancy Still Not Strong Enough

The third quarter showed some positive movement for seniors housing occupancy, but not positive enough, especially with construction starts. Well, well, well, what are we to make of the third quarter occupancy and construction stats that came out from NIC last week? The good news was that sequentially, occupancy at stabilized assisted living properties increased by 25 basis points to 90.5%, but was still down 68 basis points from a year ago. That means that the summer uptick that we had been hearing about may not have been as strong as many had thought. One issue we have is that the third quarter sequential occupancy growth for the top 99 MSAs was at the low end for the past seven years,... Read More »

The Buzz at NIC

With record attendance (again), the buzz continued to be positive, despite some looming concerns. Well, what can I say after my 25th annual NIC conference? I could talk about the record number of attendees, the building, buying, investing and financing buzz. But did anyone notice, just one block from the hotel, the vacant lot for sale with banners waving in the wind, proclaiming “Senior Living Site Available.” I’m not kidding. People were there to do deals, make new contacts and expand existing ones, and for the newbies, to try to get a better understanding of the seniors housing and care sector. But the NIC organizers had a new program, called NIC Talks, and for this conference the theme... Read More »

Third quarter posts record M&A results

There has never been a busier third quarter for mergers and acquisitions in the history of the seniors housing and care market. In Q3:15, there were a total of 87 publicly announced transactions (including both U.S. deals and a few Canadian deals), a 23% increase over the Q2:15 and a 2% increase over Q3:14. Keep in mind that the NIC Conference began at the end of the third quarter, so we have to assume that press releases on September 30 closings were delayed. The catch is that while the number of transactions has increased, the Q3:15 dollar volume of $4.1 billion is significantly down from last year’s third quarter total of $9.7 billion, a 58% drop. For more details on the third quarter... Read More »