• Did Blackstone Sell Too Soon?

    by | Nov 7, 2025 4:25 pm | Acquisitions

    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

    by | Nov 7, 2025 4:24 pm | Uncategorized

    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

    by | Nov 7, 2025 4:22 pm | Acquisitions

    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

    by | Nov 7, 2025 4:21 pm | Acquisitions

    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

    by | Nov 7, 2025 4:20 pm | Acquisitions

    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 »
PGIM Refinances Senior Care Facility Debt in Ohio

PGIM Refinances Senior Care Facility Debt in Ohio

by | Jul 23, 2021 2:50 pm | Financings

The owner of a 108-unit senior care facility in Brook Park, Ohio, refinanced its HUD debt with the help of PGIM’s Seniors Housing and Healthcare Group, lowering its annual debt service costs by more than $65,000. David Strachan and Troy Buckley originated a $5.5 million loan, which came with a new rate of 2.78%, which is well below the previous rate of 4.2% (hence that notable debt service savings). Plus, the term returned to 30 years, and the borrower, North Park Properties LLC, also increased the funding to their reserve for replacement account.  Built in 1967 with additions in 1994 and 2010, the community was over 90% occupied. It has 30 skilled nursing beds and 78 assisted living beds... Read More »
PGIM Arranges Two HUD Refinances

PGIM Arranges Two HUD Refinances

by | Jun 6, 2021 8:29 pm | Financings

PGIM’s Seniors Housing and Healthcare Group arranged refinances for two seniors housing communities in the Southeast, the third and fourth properties refinanced for the same client during the pandemic. Christopher Fenton, Catherine Eby, Adrian Hartman, and Robyn Cunningham originated the loans.  The first, totaling $7.93 million, went to a 112-bed skilled nursing facility in Bastrop, Louisiana. Rather than a loan modification, Mr. Hartman and Ms. Cunningham secured a loan to maximize annual cash flow through term extension and a rate savings of 0.8% when considering the lowered MIP.  In the other deal, Mr. Fenton and Mrs. Eby provided a $15.94 million loan for a... Read More »
PGIM Refinances Virginia Seniors Housing Community

PGIM Refinances Virginia Seniors Housing Community

by | Mar 1, 2021 9:34 am | Financings

PGIM Real Estate’s Seniors Housing and Healthcare Group refinanced a 57-unit seniors housing community in Lynchburg, Virginia with a new HUD loan, providing the owner with substantial annual loan payment savings. That makes for a happy client. Family-owned and operated Runk & Pratt was the borrower, closing its second transaction with PGIM in the last 10 months.   The community was built in the 1980s and boasted 95% occupancy. It previously had a HUD mortgage holding an interest rate of 4.25%. However, Christopher Fenton and Catherine Eby arranged a new $13.2 million loan that both extended the borrower’s loan maturity and lowered the interest rate to 3.03%. That results in annual debt... Read More »
PGIM Arranges Array of HUD Financings

PGIM Arranges Array of HUD Financings

by | Feb 2, 2021 5:00 pm | Financings

PGIM’s Seniors Housing and Healthcare Group was busy on the HUD front this month, closing three loans totaling more than $33 million for three senior care facilities. Christopher Fenton, Corley Audorff, Catherine Eby and Josh Williams originated the loans and all worked on the largest transaction, which was a $21.9 million loan for a 238-unit assisted living/skilled nursing campus in Connecticut. Utilizing HUD’s 232/223(a)(7) program, the not-for-profit owner was able to lower its current interest rate by 81 basis points, and the loan term was extended to 35 years.  Then, Messrs. Audorff and Williams funded a $10.9 million loan for a 141-unit senior care... Read More »
HealthPeak Sells 10 Aegis Living Communities

HealthPeak Sells 10 Aegis Living Communities

by | Jan 12, 2021 4:20 pm | Acquisitions

HealthPeak Properties continues its exit from the seniors housing business, both its sale/leaseback portfolio as well as its RIDEA assets. In a large transaction, HealthPeak has sold 10 assisted living and memory care communities to its tenant, Aegis Living, which partnered with Blue Moon Capital Partners in the deal. The purchase price for the real estate (to HealthPeak) was $350 million, but the total price for the entire transaction was closer to $440 million, or about $626,700 per unit. Not too bad during a pandemic.   The 10 properties are located in California (6), Washington (3) and Nevada (1). Average occupancy in the third quarter... Read More »