• Omega Invests in Saber Healthcare Joint Venture

    Omega Healthcare Investors released its third quarter earnings and made some news when it disclosed the acquisition of a 49% equity interest in a joint venture with Saber Healthcare. The JV will own and lease 64 skilled nursing facilities that were previously wholly owned by affiliates of Saber, which will retain a 51% equity interest in the JV... Read More »
  • Health Systems as Sellers in Three Transactions

    Cain Brothers advised on a trio of senior care transactions involving health systems as sellers, which could be a growing trend, particularly among any resource-constrained systems. Conversely, other systems may see the need to own skilled nursing beds in the future in order to control the transfer of their post-acute patients to SNFs and free up... Read More »
  • Large Ohio Operator Takes on Vacant SNF Beds

    Senwell Senior Investment Advisors facilitated the sale of 26 skilled nursing beds from a facility in Ohio and coordinated the repurposing of the real estate for future behavioral health services. The owners made the decision to close the facility after determining that the small size of the building prevented it from achieving the operational... Read More »
  • Not-For-Profits Secure Bond Financings

    Ziegler announced the successful pricing of $34.0 million Series 2025 bonds for The Chapel Hill Residential Retirement Center, Inc. d/b/a Carol Woods. Carol Woods is a North Carolina not-for-profit organization incorporated in July 1972 by a group of local citizens to develop, own and operate a CCRC in Chapel Hill, North Carolina. Currently,... Read More »
  • Ventas Posts Healthy Q3 With Robust Acquisition Activity

    Among the earnings results trickling out this month, it will be impossible to overshadow Welltower’s announcement with $14 billion in new investment activity and another great quarter of seniors housing operating portfolio (SHOP) performance improvements. But Ventas reported healthy results, too, and some significant acquisition volume.  Ventas... Read More »
Regions Bank Closes Ohio Bridge Loan

Regions Bank Closes Ohio Bridge Loan

Chris Honn of Regions Bank’s Healthcare Real Estate Group worked on behalf of an Ohio-based private owner to close a $16.8 million bridge loan with a floating interest rate and two-year term. The loan is also interest-only for the entire term, until maturity, when Regions plans to provide an agency refinance. The owner repaid construction debt with the transaction, in addition to getting cash out. They opened the 103-unit assisted living/memory care community in suburban Cleveland in the fall of 2018. It is already 65% occupied, but the interest-only payments should help the owner during the remaining lease-up period. Read More »
Regions Bank Repeats In Midwest

Regions Bank Repeats In Midwest

The Regions Healthcare Real Estate group closed yet another acquisition financing, following its recent Ohio deal that involved a joint venture buying a 100-unit assisted living/memory care community. The latest transaction saw Trilogy Health Services receive a $47.5 million three-year bridge loan to fund its purchase of four senior living campuses and over 400 beds in Kentucky, Michigan and Ohio. After a seasoning period, Regions Real Estate Capital will underwrite and permanently finance all the properties with HUD. Read More »
Regions Bank Finances Ohio Assisted Living Acquisition

Regions Bank Finances Ohio Assisted Living Acquisition

The Regions Bank Healthcare Real Estate Group arranged a $17.57 million five-year term loan on behalf of a joint venture to acquire a 100-unit assisted living/memory care community in northeast Ohio. Developed three years ago by a local family, the community was improving operationally but was still considered a value-add opportunity for the buyer, a joint venture between an operator and a private equity firm. Proceeds of the loan will also help fund upgrades to the property operations and physical plant. Regions’ maximum loan-to-value for this type of transaction is 70%, so we can estimate the purchase price to be somewhere between $235,000 per unit and $250,000 per unit. Read More »
Senior Living Investment Brokerage Expands Services

Senior Living Investment Brokerage Expands Services

A transaction can’t get done without the financing, so the partners at Senior Living Investment Brokerage have formed Monarch Advisors LLC to help seniors housing and care owners and operators raise capital when needed. The sister company will be led by industry veteran Alec Blanc, who spent the past decade or so at Regions Bank. His 30+ years of experience and contacts will certainly go a long way to opening doors for SLIB’s clients. Based in St. Louis, Missouri, Monarch will work closely with the SLIB team when financing needs arise for their clients, but it will also seek other opportunities to raise both debt and equity for other providers. Blanc knows the SLIB team well... Read More »