• PGIM Divests Two Arizona Assets

    by | Jan 23, 2026 3:42 pm | Acquisitions, Financings

    JLL’s Seniors Housing Capital Markets team completed the sale and financing of three assets across two separate deals. First, it announced that it sold The Watermark at Morrison Ranch in Gilbert, Arizona, and Acoya Mesa in Mesa, Arizona. Both communities were stabilized at the time of the deal. JLL marketed the portfolio on behalf of the seller,... Read More »

  • Underperforming Asset Trades in California

    by | Jan 23, 2026 3:39 pm | Acquisitions

    A seniors housing community in Vacaville, California, sold with the help of Nick Stahler and Chad Mundy of The Knapp-Stahler Group at Marcus & Millichap. At the time of LOI, the asset was underperforming and financially strained. Built in 2004, it features more than 80 assisted living and memory care units and is licensed for over 90 beds on... Read More »

  • Communities Sell in California and Missouri

    by | Jan 23, 2026 3:08 pm | Acquisitions

    Haven Senior Investments closed a deal right before year-end and announced a couple of others from the preceding months. First, an assisted living community was facing a hard closing deadline, with a 30-day escrow and commercial loan that would have been canceled if the transaction did not close by December 31. Rebecca Van Wieren and Scott Fuller... Read More »

  • Cambridge Provides HUD Construction Financing

    by | Jan 23, 2026 3:07 pm | Developments, Financings

    Cambridge Realty Capital provided $6.5 million in construction financing for a 20-bed memory care addition to The Pointe at Pontiac, an existing 60-bed supportive living facility in Pontiac, Illinois. The borrower is an Illinois limited liability company. The financing is insured by HUD under its Section 241(a) program and will be used to fund... Read More »

  • SNF Portfolio Receives Bridge Financing

    by | Jan 23, 2026 3:05 pm | Acquisitions, Financings

    MONTICELLOAM, along with firm affiliates, provided $60 million in bridge financing to a five-facility skilled nursing portfolio in Illinois. The two-year loan was originated by Karina Davydov. The returning healthcare client, who operates over a dozen skilled nursing facilities in Illinois, will use the loan proceeds to acquire the portfolio,... Read More »

A New Horizon?

by | Dec 6, 2016 10:19 pm | Acquisitions

Michigan has been in the news a lot lately as the home of political upsets and recounts. But it’s also the home of Mike Garbers and Cody Tremper’s (of Greystone Real Estate Advisors) latest transaction. The duo represented a publicly traded REIT in the sale of its 298-unit independent living community in Southfield, Michigan to a private equity firm. Built in 1998 on seven acres, the Brookdale Senior Living-operated community features a host of amenities, including a greenhouse, gazebo, library, restaurant-style dining and a beauty/barber shop, but it has significant capex needs. That perhaps explains the relatively low purchase price of $12.5 million, or about $42,000 per unit. For some... Read More »
Public REITs can sell seniors housing assets too

Public REITs can sell seniors housing assets too

by | Nov 18, 2016 8:31 am | Acquisitions

We’ve read a lot about public REITs shedding their skilled nursing assets, but that’s not all they’re selling. A publicly traded REIT sold a pair of West Coast assisted living communities for $23 million, or $365,079 per unit. There is a 48-bed/24-unit assisted living/memory care community in Corvallis, Oregon, and a 78-bed/39-unit AL community in Citrus Heights, California. Over 93% occupied, the communities earned around $6.5 million in annualized revenues. The buyer, Summit Healthcare REIT, triple-net leased the properties for a term of 10 years to an affiliate of Compass Senior Living. Acquisition financing was arranged by Capital One, and Tim Cobb of Blueprint Healthcare Real Estate... Read More »
Public REITs can sell seniors housing assets too

Going, going, Greystone

by | Oct 26, 2016 8:30 am | Acquisitions

A senior living community in Jacksonville, Florida with an unusual set-up traded hands with the help of Greystone. Owned by a publicly traded REIT, the 245-unit community was built 30 years ago on 14 acres, and provides independent living, assisted living and memory care. The Brookdale-operated campus is spread out among 12 residential buildings and one common area building. Despite upgrades made to the resident units, common areas and building exteriors in recent years, the community sold for $21.5 million, or $87,755 per unit, to a private equity firm. Cary Tremper of Greystone arranged the nonrecourse acquisition financing through a regional bank, while Cody Tremper and Mike Garbers... Read More »
Recapitalizing with KeyBank

Recapitalizing with KeyBank

by | Sep 30, 2016 2:44 pm | Financings

Grant Saunders, Sarah Belmont and Charlie Shoop of KeyBank Real Estate Capital all went to work to recapitalize a portfolio of eight seniors housing and care properties owned by Sentio Healthcare Properties, Inc. First, Saunders and Belmont helped the Orlando-based public, non-traded REIT refinance five of its properties, located in Texas, Florida, New Jersey and Louisiana, with a $62 million balance sheet term loan from KeyBank. Those properties are a combination of independent living, assisted living, memory care and skilled nursing facilities. As for the three remaining properties (assisted living and memory care communities) located in Ohio, Maryland and Florida, Mr. Shoop arranged... Read More »

A new public REIT

by | Sep 29, 2016 2:39 pm | Opinion

We have a new publicly traded healthcare REIT. MedEquities Realty Trust priced its 19.9 million share IPO at $12.00 per share, which was at the low end of the potential range of $12.00 to $14.00 per share. It opened at a slight discount of $11.50 per share yesterday in a day that the overall market tanked. The company invests in skilled nursing facilities, hospitals, LTACs and other healthcare real estate properties. It may be small now, but we are sure it will be out there scouting new acquisitions. The new shareholders are counting on it. FBR, J.P. Morgan, Citigroup, KeyBanc Capital Markets, Raymond James and RBC Capital Markets served as joint book-running managers Read More »