• Novellus Divests in Colorado

    by | May 17, 2024 4:16 pm | Acquisitions

    Evans Senior Investment arranged the sale of an assisted living community in Denver, Colorado, representing Novellus Living in the transaction. ESI previously facilitated the sale of the community less than two years ago. Originally built in 2002, Novellus Cherry Creek comprises 66 units and operates on a 59% private pay basis. In 2022, occupancy... Read More »

  • CBRE Secures Financing for Washington Asset

    by | May 17, 2024 4:14 pm | Financings

    CBRE secured financing for a seniors housing community in Tacoma, Washington, on behalf of a joint venture between Harrison Street, PMB and GenCare Lifestyle. Built in 2020, GenCare Lifestyle Tacoma at Point Ruston comprises 159 independent living, assisted living and memory care units. The community fully opened in the fourth quarter of 2020 and... Read More »

  • Live Oak Bank Returns to Santee Seniors Housing Campus

    by | May 17, 2024 4:12 pm | Developments, Financings

    Live Oak Bank closed a $27.0 million refinance with a repeat client for an assisted living/memory care community, The Ridge at Lantern Crest, situated on a larger campus, Lantern Crest, in Santee, California. Lantern Crest, operated by Lantern Crest Senior Living, is a 34-acre seniors housing campus developed by The Grant Companies. It offers... Read More »

  • The Current Lending Environment for Senior Care Properties

    by | May 17, 2024 9:31 am | Acquisitions, Developments, Financings, Opinion

    The financing process has killed dozens (and hundreds) of deals in the last couple of years, and yet M&A activity is near record levels in the seniors housing and care industry. So deals are getting done, and not just with cash. Who has been lending and at what cost to the borrower? What hurdles have to be overcome? And when capital costs do... Read More »

  • Lument Arranges Tennessee SNF Sale (& Loan Assumption)

    by | May 16, 2024 4:27 pm | Acquisitions

    A skilled nursing facility in Tennessee that was struggling to maintain debt service and other loan obligations sold with the help of Laca Wong-Hammond and Isabel Carta of Lument Securities serving as exclusive financial advisor to the seller. Located in Rocky Top, about 25 miles from Knoxville, Summit View of Rocky Top is a 117-bed skilled... Read More »

New senior care operator in Texas

by | Sep 30, 2015 8:31 am | Acquisitions, Financings

A new entrant in the post-acute care market made their first acquisition: a portfolio of four skilled nursing facilities in Texas for an undisclosed price. Formed in June 2015 by Michael Wallace, formerly President of Daybreak Ventures, Shady Shores Communities purchased the four facilities, with 424 beds, from three separate owner/operators. The mostly Medicaid census averaged 70% occupancy across the portfolio. Shady Shores is also in the process of developing three other facilities in Texas. To finance the acquisition, Oxford Finance provided a four-year $7 million senior secured term loan and a $1 million revolving line of credit. Mr. Wallace is wasting no time growing the business,... Read More »