• Out-of-State Owner Divests to Investor

    A couple of assisted living and memory care communities in Eastern Tennessee recently traded hands. The two properties comprise more than 100 units. A Chicago-based investor aligned with the seller’s long-term vision for the communities acquired the assets, and partnered with a regional operator that was looking to grow their presence in the... Read More »
  • CFG Hit the Ground Running in Q1

    Capital Funding Group wasted no time in the first quarter, closing $428.9 million in total financing. The transactions spanned skilled nursing, assisted living, independent living, memory care, behavioral health, multifamily and commercial lending on behalf of nationally recognized borrowers. Some highlighted transactions include: ● A $17.6... Read More »
  • Separate Borrowers Secure Financing

    Cambridge Realty Capital announced a couple separate closings. First, the company provided a $4.31 million HUD refinance of Elizabeth Care Center, a skilled nursing facility in Elizabeth, West Virginia. Cambridge utilized HUD’s Express Lane, which enabled the loan application to receive its firm commitment just 18 days after being accepted. ... Read More »
  • Blueprint Brings on New Team Member

    Blueprint welcomed Peter Trazzera to the team as Senior Director, Capital Markets. Trazzera brings deep expertise in financing solutions and is set to further elevate Blueprint’s capabilities in the sector. He has an extensive background in institutional capital, and is joining following a 12-year tenure as Senior Vice President at KeyBank... Read More »
  • High-Priced Sale Closes in Chicago

    The bar keeps getting raised for pricing in the seniors housing industry, and we believe a new record has been set for a property sale in Chicago, Illinois. It was revealed that the seven-story Belmont Village Lincoln Park was bought by CBRE Investment Management for approximately $151 million, according to property tax records. Based on a lower... Read More »
Preparing for the Future of Seniors Housing

Preparing for the Future of Seniors Housing

On October 15th, subscribers to The SeniorCare Investor and members of the American Seniors Housing Association (ASHA) met at the Duane Morris offices in New York City to discuss a topic relevant to many of our readers: the future of the seniors housing market in the 2020s and beyond. Where do you begin on a topic like that? Well, Steve Monroe led a panel discussion with Wayne Kaplan of Premier Senior Living Group, Matthew Whitlock of Berkshire Residential Investments, Jeffrey Sands of HJ Sims, Steven Krieger of Engel Burman and Meredith Oppenheim, an industry expert and alum of Sunrise Senior Living and Ventas. The conversation was wide ranging, but here were some of the key takeaways:... Read More »
A Premier Purchase

A Premier Purchase

Premier Senior Living Group added a 23rd seniors housing community to its portfolio, and entered the Pennsylvania market at the same time. Founded by industry veterans Wayne Kaplan and Robert Borsody, the New York City-based Premier Senior Living already had operations in Michigan (9), New York (6), Ohio (3), North Carolina (2) and Florida (2). This new addition in Pennsylvania is located near Scranton in the town of Moosic. The stand-alone 35-unit (58 beds) memory care community was built in 1996 and is well occupied in the mid- to high-90s. Premier used its own equity to fund the $8.5 million, or $242,857 per unit, purchase price. Read More »

CareTrust’s buying spree

What has gotten into CareTrust REIT this year? When most other REITs are taking a significant step back in terms of buying, the California-based CareTrust has made 11 acquisitions, for 21 facilities, so far in 2016 (which already equals the number of facilities acquired in 2015). First, the company purchased two communities in North Carolina for $11.7 million, or $113,592 per unit, handled by Evans Senior Investments. The deal included a 16-year old 46-unit assisted living/memory care community and a 17-year old 21-unit memory care community. Premier Senior Living Group will operate the two stabilized properties. Next up, CareTrust bought a 175-unit independent/assisted living community in... Read More »