• Interview with Arnie Whitman and Meredith Oppenheim on VITALS

    The SeniorCare Investor’s Ben Swett recently sat down with Meredith Oppenheim and Arnie Whitman to discuss their new framework for seniors housing operators to improve the quality of life for their residents, but also to position the sector for greater success and wider appeal in the future. Watch the conversation here. Read More »
  • Michigan-Based Owner/Operator Expands in Tampa MSA

    American House Senior Living Communities added Beach House Assisted Living & Memory Care in Wesley Chapel, Florida (Tampa MSA), to its operating portfolio and renamed the property American House Wesley Chapel. The community features 67 assisted living and 33 memory care units with studio, one- and two-bedroom floor plans, some with balconies... Read More »
  • Seniors Housing Community Near Chicago Gets New Owner

    SVN Chicago Commercial sold McKenzie Falls, an affordable seniors housing community in Bolingbrook, Illinois, roughly 30 miles southwest of downtown Chicago. The building was constructed in 2010 and spans 74,047 square feet across one story.  An undisclosed buyer acquired the 105-unit community for $6.7 million, or $63,800 per unit. Reid... Read More »
  • Healthpeak Properties Provides Janus Living Updates

    Healthpeak Properties’ recently formed seniors housing REIT, Janus Living, which will manage Healthpeak’s 34-community seniors housing portfolio, has filed a registration statement on Form S-11 with the SEC relating to a proposed initial public offering of its shares of Class A-1 common stock, which the company intends to list on the NYSE under... Read More »
  • SLIB Handles Senior Care Campus Deal in Missouri

    A Maryland-based owner/operator looked to expand its Missouri senior care portfolio with the purchase of Kingdom Care Senior Living in the town of Fulton. Built in 1980, the campus includes four independent living units, 26 assisted living units and 36 skilled nursing beds. It currently holds a five-star rating at the SNF and is the only... Read More »
ROC making a comeback

ROC making a comeback

One of the larger acquirers of the past few years, but that has been taking somewhat of a breather in 2016, may be back on the deal hunt soon. ROC Seniors Housing Fund Manager, LLC, whose parent company is Bridge Investment Group Partners, was quite active in the couple of years following its end-of-2013 creation, acquiring 43 senior living properties in 2014 and 2015 alone. Based on disclosed prices in our database, ROC also spent nearly a half billion in those two years. However, in 2016, the investor has so far only announced two transactions, each including a single CCRC, but both without a disclosed price. We should hopefully see some new announcements coming, with ROC’s parent... Read More »

BMO closes over $80 million

Two active investors in the seniors housing M&A market worked with BMO Harris Bank’s Commercial Real Estate Healthcare group to close acquisition financing for two of their latest purchases. First up, Kayne Anderson received $34.6 million in financing to acquire and expand a 135-unit senior living community in Melbourne, Florida. The property was built in 2012 to feature 47 independent living, 54 assisted living and 34 memory care units. It was 97% occupied, and sold for $45.5 million, or $337,037 per unit. And second, BMO closed over $40 million of acquisition financing for ROC Seniors Housing Fund Manager to acquire two just-built assisted living/memory care communities in New York.... Read More »
ROC Buys StoneRidge

ROC Buys StoneRidge

In Mystic, Connecticut, a 267-unit entrance fee CCRC experienced a shift in ownership when ROC Seniors Housing Fund Manager bought out Westminster Capital’s majority stake in the community for an undisclosed price. Life Care Services will stay one as the minority owner and manager. The property was developed by LCS Development in three phases starting in 2004, featuring 267 independent living units, 12 memory care units and 40 skilled nursing beds. For this deal, Cushman & Wakefield arranged acquisition financing with Bank of America Merrill Lynch on behalf of the buyer group, and Richard Swartz, Jay Wager and Aaron Rosenzweig, with Stuart Kim and Caryn Miller, handled the... Read More »

Berkadia secures $93 million in financing

We wrote last month of ROC Seniors Housing Fund Manager’s purchase of 14 senior living properties with 1,038 units from a joint venture between Iron Point Partners and Meridian Senior Living for an undisclosed price. The portfolio was mostly assisted living (719 units), with 208 memory care units and 111 independent living units as well. To fund the acquisition, ROC turned to Berkadia to arrange an $84 million, three-year floating-rate loan through BBVA Compass Bank. Berkadia also contributed $20 million of the overall financing through its Proprietary Bridge Lending Platform. In addition, earlier this year ROC purchased a 76-unit assisted living and memory care community in Canton, Ohio,... Read More »