• Private Equity And Nursing Homes

    There have been a lot of stories in the media about private equity and nursing homes, often by The New York Times, which seems to have a “thing” about the nursing home industry. All that we have seen has been negative in varying degrees, mostly dealing with cuts in staffing, declining quality of care and increased leverage.   But a... Read More »
  • Summit LTC Management Acquires East Texas SNF

    The Blueprint Healthcare Real Estate Advisors team worked together to sell a 112-bed skilled nursing facility located near the University of Texas Health, East Texas campus in Athens, Texas. Built in 1987, the facility has mostly semi-private rooms. It historically operated well while enrolled in QIPP, but a new local competitor put downward... Read More »
  • Monticello Funds Wisconsin Acquisition and Refinance

    MONTICELLOAM, LLC (Monticello) and its affiliates recently structured first lien debt for a portfolio of three senior care facilities in Wisconsin. The purpose of the debt was two-fold, with a portion going towards the acquisition of an assisted living/skilled nursing property and the remaining amount refinancing two skilled nursing facilities.... Read More »
  • Cambridge Realty Capital Lowers Rate On 16 Facilities

    Cambridge Realty Capital announced a slew of HUD loan modifications in the first half of 2020. The lender worked on behalf of borrowers with a combined 16 healthcare facilities that all had HUD mortgages. They are located in Illinois, California, Ohio, Texas, New Jersey and Iowa. In total, Cambridge funded over $200 million in loan modifications,... Read More »
  • Brookdale, Genesis Report Tough Quarters

    Brookdale Senior Living and Genesis HealthCare, the two largest providers, were not spared from COVID’s devastation in the second quarter. The two largest providers in their respective sectors, Brookdale Senior Living in seniors housing and Genesis HealthCare in skilled nursing, did not escape COVID’s wrath. No one expected they would.... 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 »