• Cardinal Senior Living Buys Two Ohio Assets

    by | Jan 23, 2025 3:41 pm | Acquisitions

    Blueprint was engaged by Gables Management Company, an owner/operator/developer, in its divestment of two newer vintage, Class-A communities in the Akron and Columbus MSAs. Built in 2017 and 2021 respectively, the communities total 198 independent living, assisted living and memory care units. Demonstrating robust performance, the communities... Read More »

  • Joint Venture Secures Refinancing

    by | Jan 23, 2025 3:37 pm | Financings

    First Citizens Bank announced that its Healthcare Finance business has refinanced The Bristal at Wayne, a 158-bed seniors housing community in Wayne, New Jersey. The borrower is a joint venture affiliate of Chicago-based Harrison Street and B2K Development. The same joint venture served as the community’s original developer, with Ultimate Care... Read More »

  • New Jersey SNFs Secure Financing

    by | Jan 23, 2025 3:36 pm | Financings

    MONTICELLOAM announced the closing of $39 million in total bridge and working capital financing for two New Jersey skilled nursing facilities. The sponsorship group, a repeat MONTICELLOAM client with extensive experience in the skilled nursing industry, will use the $38 million floating-rate senior bridge loan to consolidate previous loans and... Read More »

  • 60 Seconds with Swett: Rising Treasuries and Senior Care M&A

    by | Jan 21, 2025 3:53 pm | 60 Seconds, Opinion

    Momentum in the M&A market has continued into 2025, and there is general optimism that the new Administration that descended on Washington this week will be good for the business environment. Although there is some uncertainty around what, if any, tariffs are enacted and whether their effect on prices would potentially be blunted by falling... Read More »

  • PruittHealth Secures Financing in Georgia

    by | Jan 21, 2025 3:47 pm | Acquisitions, Financings

    Jay Healy and Andrew Lanzaro of Berkadia closed a $9.1 million bridge-to-HUD loan on behalf of PruittHealth to facilitate the acquisition of a skilled nursing facility. The 18-month, interest-only bridge loan represented 76.5% of the value and is prepayable at any time, putting its value at around $11.9 million, or $180,000 per bed. Berkadia... Read More »
Providence Group Acquires Plum Healthcare Group

Providence Group Acquires Plum Healthcare Group

by | Nov 9, 2021 4:37 pm | Acquisitions

Providence Group has acquired Plum Healthcare Group, California’s second-largest skilled nursing facility operator, in an effort to expand Providence’s reach in the western United States. The deal includes Plum’s 58 properties that sold for an undisclosed amount, including 57 nursing homes and one assisted/independent living community, plus the real property on ten of the assets. There are 54 facilities in California and four in Nevada. Capital Funding Group provided financing for the deal.  Plum’s average census as of November 5 was 83%, which is an enviable figure for many in the industry. Helping with the transition is the fact that Providence’s C-Suite leadership have worked with... Read More »
Lancaster Pollard Refinances Plum Portfolio

Lancaster Pollard Refinances Plum Portfolio

by | Jan 16, 2020 4:03 pm | Financings

It’s been quite a lucrative relationship between Lancaster Pollard and California-based skilled nursing operator, Plum Healthcare Group. About 18 months ago, Grant Goodman, Jason Dopoulos, Joe Munhall and Elliot Kaple secured $400 million in bridge financing from Credit Suisse on 27 skilled nursing facilities in California owned by Plum. However, that was short-term, corporate-level recourse-based debt, which did not give Plum much capital flexibility. So, upon closing of that transaction, Lancaster Pollard immediately began work on a HUD refinance, and the time has now come. On behalf of 26 of those facilities, Messrs. Goodman, Dopoulos and Kaple led the way on a $420 million HUD... Read More »