• Brookdale Making Progress, but Is It Enough?

    by | May 8, 2024 10:27 am | Opinion

    Brookdale Senior Living reported its best EBITDA performance in several years, nearly topping $100 million, RevPOR continues to grow (5.8% sequentially), and second quarter guidance for adjusted EBITDA is now between $93 million and $98 million. On the labor front, they had a solid 70% retention rate for Executive Directors for the trailing... Read More »

  • Regional Owner/Operator Divests Facility, Exiting Sector

    by | May 8, 2024 10:13 am | Acquisitions

    Daniel Geraghty and Bradley Clousing of Senior Living Investment Brokerage were engaged by a regional owner/operator in its divestment of a senior care facility. The seller is looking to consolidate its portfolio and exit the skilled nursing industry. The buyer is a regional-based owner adding to its portfolio throughout the state,... Read More »

  • BMO Provides $140.6 Million in Bridge Financing

    by | May 8, 2024 10:11 am | Financings

    BMO Healthcare Real Estate provided $70.6 million in bridge financing to a joint venture of New Perspective Senior Living, Boldt Capital and Fengate Asset Management, for the recapitalization of two Class-A seniors housing communities. The communities total 290 units in Franklin and Waukesha, Wisconsin. Loan proceeds include capital allocated for... Read More »

  • Newer-Vintage Facility in New Mexico Changes Hands

    by | May 8, 2024 10:09 am | Acquisitions

    Blueprint was brought on to facilitate the sale of an inpatient transitional care facility, Las Cruces Port Acute and Rehab. Built in 2017, the facility features 50 beds and is in Las Cruces, New Mexico. It’s located within two miles of three short-term acute care hospitals that offer quality Medicare referral opportunities. Trailing EBITDAR was... Read More »

  • Public REIT Divests in Northern Louisiana

    by | May 8, 2024 10:07 am | Acquisitions

    Helios Healthcare Advisors facilitated the purchase of two assisted living communities in Northern Louisiana on behalf of an independent investment group based in Texas and Louisiana. Savannah Court of Bastrop and Savannah Court of Minden were owned by a public REIT and operated by a regional provider under a triple-net lease. Built in the late... Read More »
A HUD Debacle With SNFs?

A HUD Debacle With SNFs?

by | Jun 12, 2019 7:02 am | 60 Seconds, Opinion

One major default is used to blast a very profitable arm of the government. I don’t know if anyone noticed the June 3 lead article in The New York Times business section, but the reporter, Matthew Goldstein, should have talked to more people. One company, Rosewood Care Centers, defaulted on $146 million in loans secured by 13 skilled nursing and assisted living facilities in Illinois and Missouri. According to the story, it now demonstrates the “problems plaguing the HUD program.” Plaguing? Give me a break. Yes, it may have been likely that the buyer of these facilities in 2013 had few financing options given the two states’ reimbursement history, but that is one reason why HUD is supposed... Read More »