• 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 »
Eastern Union Secures Bridge Financing For FL and MA Facilities

Eastern Union Secures Bridge Financing For FL and MA Facilities

The Healthcare Group of Eastern Union secured a large bridge financing to support the acquisition of two skilled nursing facilities in Florida and the recapitalization of two in Massachusetts. Nachum Soroka, director of the group, led the transaction, with Jacob Schonland also playing a key role. A total of $57 million in bridge debt was arranged, coming with a three-year term, two years of interest only and a floating rate tied to LIBOR. Eastern Union secured the debt on a limited recourse basis at an 85% loan-to-value ratio.  Eastern Union president Ira Zlotowitz and capital markets specialist Michael Wyne also helped on the Florida deal, which included... Read More »
Oxford Finance Secures Credit Facility For Florida SNF Acquisition

Oxford Finance Secures Credit Facility For Florida SNF Acquisition

Oxford Finance closed a large senior credit facility and revolving line of credit to support the acquisition of four skilled nursing facilities in Florida. Pointe Group Care, an owner/operator of skilled nursing and assisted living facilities in Massachusetts and Florida, was the buyer and borrower.   Totaling $57.2 million, the financing package will also be used to fund working capital and refinance existing debt. Neither party released any other details on the deal. This is not the first transaction closed between Oxford and Pointe Group, and existing relationships have proven key to getting deals done in this pandemic environment.  Read More »
Oxford Finance Secures Credit Facility for Missouri Acquisition

Oxford Finance Secures Credit Facility for Missouri Acquisition

Oxford Finance announced its role in funding SRZ Management’s (Reach LTC) acquisition of a large skilled nursing facility in the St. Louis suburb of Town & Country, Missouri. The buyer received a $7.4 million senior credit facility and revolving line of credit to support the purchase and general working capital. Jeff Binder and Patrick Byrne of Senior Living Investment Brokerage represented the seller, National HealthCare Corporation (NHC), in the deal. Built in the 1960s, the facility was set to be replaced by a 187-unit senior living community, which would be developed by Ryan Companies at a cost of about $60 million. However, NHC couldn’t get the project through planning and zoning... Read More »
Vermont Portfolio Sale Funded By Oxford Finance

Vermont Portfolio Sale Funded By Oxford Finance

Oxford Finance announced its involvement in the sale of a five-skilled nursing facility portfolio in Vermont, which was revealed last month. To support the $46.6 million purchase price, Oxford provided a $44.6 million credit facility and revolving line of credit to the buyer, MDA Capital Group, LLC.  Four years ago, Genesis HealthCare acquired the portfolio for $39 million from Revera, Inc. Located in Bennington, Burlington, Berlin, Springfield and St. Johnsbury, they have an average age of nearly 45 years and total 527 licensed beds. Meridian Capital Group handled the transaction and helped arranged the financing package with Oxford.  Read More »
Oxford Finance Funds Wisconsin SNF Acquisition

Oxford Finance Funds Wisconsin SNF Acquisition

Oxford Finance secured a senior credit facility and revolving line of credit for a partnership to acquire two skilled nursing facilities and a combined 158 beds in Wisconsin. That partnership is between AB Asset Management LLC, a vertically integrated real estate company based in Miami Beach, and Vitalogy Property Holdings LLC, a growing owner/operator founded in 2015 by Levi Rudd and Louis Kass.   Vitalogy is expanding its existing operating platform in the Midwest and also partnered with Symmetry Healthcare, a provider of back office support services in the healthcare industry, to acquire the properties. To fund the deal, Oxford closed both the... Read More »