• Did Blackstone Sell Too Soon?

    According to recent media reports, real estate investor The Blackstone Group has sold and is in the process of selling about $1.8 billion in seniors housing assets. It wants to completely exit the seniors housing business which they claim has been a disaster for them. One report stated that they have lost upwards of $600 million across the... Read More »
  • Brookdale Continues Winning Streak

    The big question is, why did this not happen earlier? We are talking about Brookdale Senior Living’s occupancy recovery, and why the previous leadership seemed unable to move the needle, but as soon as they were gone, everything has been on an upward trend. Hmmmmm.  Things are not perfect at Brookdale, but they never were. However,... Read More »
  • National Health Investors Adjusts Its SHOP Portfolio

    National Health Investors, Inc. announced some adjustments to its SHOP portfolio, raising its full-year guidance for the third consecutive quarter due to the contribution of recently transitioned and newly acquired SHOP properties, along with continued strength in its investment pipeline. The REIT also had an update on its lease agreement with... Read More »
  • Strawberry Fields’ Three Separate SNF Transactions

    Strawberry Fields REIT, Inc. announced three separate skilled nursing transactions that closed during the third quarter. Two previously announced acquisitions were in Missouri, and the recently announced purchase was in Oklahoma.  In July, the REIT completed the acquisition of nine skilled nursing facilities with 686 beds in Missouri. The... Read More »
  • Receivership Estate Sells in Alabama

    Kory Buzin and Steve Thomes of Blueprint handled another successful sale on behalf of a lender and special servicer, this time involving a receivership estate in Mobile, Alabama. Knollwood Point, a 2001-vintage, 46-unit assisted living and memory care community, struggled in recent years as a result of challenged occupancy and volatile staffing.... Read More »
Evans Senior Investments Shows Variety In Latest Closings

Evans Senior Investments Shows Variety In Latest Closings

Evans Senior Investments displayed some variety in its two latest transactions. First, the firm closed the sale of a 30-unit/60-bed memory care community located about five miles southwest of Las Vegas, Nevada. Built in 2010, the community was formerly owned and operated by Genesis Healthcare, and although it had 100% private pay residents, occupancy was just 61% at the time of listing. A private equity firm with a local footprint around Sin City saw the opportunity to add value ended up buying the community for $2.1 million, or $70,000 per unit, bringing in Pacifica Senior Living to operate. Switching gears slightly, Evans Senior Investments then worked to procure a new tenant for an... Read More »

Here’s hoping for smooth sailing

A 50-unit memory care community in Costa Mesa, California is hoping for a more stable, and successful, future following its recent sale to Pacifica Senior Living. Built in 1992, the community underwent a substantial $1.72 million renovation to its common areas and units in 2011. However, in the past five years, a number of operational changes damaged the facility’s brand name as each operator had different visions of how to run the property. Occupancy ultimately suffered, falling to 70% early this summer, and the community was losing money. But for Pacifica, there is plenty of upside. Rents are currently below market rates at nearby competitors, and with nearly all semi-private units... Read More »