• Strawberry Fields REIT’s 2025 Growth

    by | Feb 20, 2026 3:31 pm | Acquisitions

    Strawberry Fields REIT reported its 2025 operating results, noting that it was the best year since its inception more than 10 year ago. The company posted significant increases in FFO and AFFO, and it completed more than $110 million in several new acquisitions. Its portfolio now includes 131 skilled nursing facilities, 10 assisted living... Read More »

  • Owner/Operator Exits SNF Sector

    by | Feb 20, 2026 3:29 pm | Acquisitions

    An independent owner/operator exited the skilled nursing sector through its divestment of Sunrise Country Manor, which has 80 beds in Milford, Nebraska, and features a mix of private and semi-private units. It maintained an 83% occupancy rate at the time of the sale. A regional operator looking to expand its footprint in Nebraska acquired the... Read More »

  • Assisted Living Providers Join Forces 

    by | Feb 20, 2026 3:28 pm | Acquisitions

    Majestic Residences recently expanded its footprint, adding 17 assisted living communities and six in active development, through its acquisition of Avendelle Senior Living. Avendelle will be integrated into the Majestic Residences platform, with Avendelle’s corporate team retained. The combined organization will operate under the Majestic... Read More »

  • Investor Secures Financing and Acquires Class-A Community

    by | Feb 20, 2026 3:27 pm | Acquisitions, Financings

    BWE’s Seniors Housing Capital Markets Team sold and financed The Capstone at Station Camp, which sits in the Nashville, Tennessee MSA. Built in 2021, the Class-A assisted living and memory care community comprises 100 units in Gallatin. It is operated by TerraBella Senior Living.  BWE represented the seller, Hunt Midwest. The buyer was a... Read More »

  • Multiple SNFs Sell in Separate Transactions

    by | Feb 20, 2026 3:26 pm | Acquisitions

    A large skilled nursing company sold its 181-bed skilled nursing facility to a private investment firm based in New York, exiting South Carolina in the process. The buyer had an existing skilled nursing footprint, and will be leasing this facility to a regional operator. The building was older, built in the 1980s, and was around 80% occupied at... 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 »