• 60 Seconds with Swett: October Smashes M&A Record

    by | Nov 4, 2025 4:20 pm | 60 Seconds, Acquisitions

    We were predicting a record-breaking end to the year in terms of M&A activity, but we are not sure we expected a 100+ deal month, with 110 transactions and counting. Just to put that in perspective, the previous record for any month was 77 deals in October of last year, and only four months had previously broken the 70-deal barrier. So this... Read More »

  • Newmark Ends October with Portfolio Closings

    by | Nov 4, 2025 3:50 pm | Acquisitions

    Newmark announced a flurry of transactions at the end of October involving various institutional firms. The largest was a portfolio of seniors housing communities in the Northeast known as “Stars and Stripes.” Word on the street is that the portfolio sold for north of $800 million, and that a sub-portfolio was valued at more than $1 million per... Read More »

  • Stacked Stone Acquires Missouri Portfolio

    by | Nov 4, 2025 3:48 pm | Acquisitions

    Stacked Stone Ventures announced the purchase of a seven-community assisted living/memory care portfolio in Missouri for $71 million, or $212,600 per unit. Totaling 334 units and 405 beds, the Oak Pointe portfolio was developed between 2015 and 2020 by an investor group called ClearPath Senior Housing, which included Jeff Binder of Senior Living... Read More »

  • Blueprint Sells Georgia Community to LTC Properties

    by | Nov 4, 2025 3:47 pm | Acquisitions

    LTC Properties divested seven skilled nursing facilities through two separate deals for $122 million in October. In those transaction announcements, the publicly traded REIT noted that it intended to redeploy proceeds for the acquisition of newer, stabilized SHOP assets. It looks like that’s what the publicly traded REIT did in Georgia at the... Read More »

  • MIG Announces Two Closings

    by | Nov 4, 2025 3:46 pm | Acquisitions

    Montgomery Intermediary Group announced a couple of transactions at the end of October. First, Andrew Montgomery sold a 120-bed skilled nursing facility in southern Illinois in a value-add deal. Built in the 1960s and 1970s, the facility had a roughly 50% Medicaid census, with between 30% and 35% private pay and 5% to 10% Medicare. It was losing... Read More »

Growth spurt

by | Sep 30, 2015 8:32 am | Acquisitions

Sabra Health Care REIT announced a pair of acquisitions, totaling almost $85 million. First the REIT purchased four senior living communities, with 214 total units, in the Pacific Northwest for $65 million, or $303,700 per unit. Three of the properties are located in Oregon and one in Washington, with a total of 122 assisted living units, 74 memory care units and 18 independent living units. Built between 1989 and 1995, with various renovations between 2003 and 2011, the portfolio averaged 96.4% occupancy in 2014 and operated at a 33% margin on $13.9 million of revenues, resulting in a 7.1% cap rate. Sabra leased the properties to Radiant Senior Living, with an initial term of 10 years and... Read More »

Record-high SNF price

by | Jun 26, 2015 8:30 am | Acquisitions

Have you ever seen a skilled nursing facility sell for over $300,000 per bed? Well, according to our data (which dates back to 1989), such a deal has not happened, until today. Sabra Health Care REIT, which recently acquired nine seniors housing properties in Canada (lowering its SNF exposure to approximately 50%), purchased four Maryland skilled nursing facilities with 678 beds for $234 million, or a whopping $345,100 per bed. When you look at the purchase price for three of the facilities (with 472 beds) at $175.2 million, the price per bed is an even higher $371,000. The fourth facility, which has a $10.8 million HUD loan with a 5.60% interest rate and sold for $58.8 million, was valued... Read More »

Sabra Collaborates with Leo Brown

by | Jun 10, 2015 8:32 am | Developments

Sabra Health Care REIT is getting more skin in the game in the development world, having announced a new pipeline agreement with Leo Brown Group (LBG) to help finance up to 10 new senior housing construction projects. Under the agreement, LBG will identify and secure construction financing for senior housing projects. Of those potential projects, Sabra will then have the right, through March 31, 2017, to provide a portion of the required equity financing for up to 10 projects through a preferred equity structure. Plus, at the time of the investment, Sabra will then obtain a purchase option for the community. The total purchase price for the projects is estimated to be approximately $250... Read More »

Another Holiday portfolio sells to a REIT

by | Apr 15, 2015 7:50 pm | Acquisitions

So goes another large portfolio of Holiday Retirement properties, with NorthStar Realty Finance’s acquisition of 32 independent living communities from affiliates of Harvest Facility Holdings, itself an affiliate of Holiday. The acquisition marks another step towards Holiday’s owner Fortress Investment Group’s goal of transforming Holiday into an operating company. In fact, since October 2013, Holiday has sold over 200 properties totaling about $5.1 billion. In that time, nearly all of those assets were sold to REITs, such as New Senior Investment Group, Sabra Health Care REIT, National Health Investors and Ventas, and that is no different in the most-recent transaction. NorthStar Realty... Read More »