• Plains Commercial Sells Oklahoma SNF

    Daniel Morris, formerly of CBRE but now Founding Partner of Plains Commercial Real Estate in charge of seniors housing investment sales and leasing, has arranged the sale of a small skilled nursing facility in Fairland, Oklahoma. Featuring 29 beds, the facility was built in the mid-1960s with a small footprint of just about... Read More »
  • Keybank Secures Fannie Mae Refinance For Five Communities

    KeyBank Real Estate Capital secured Fannie Mae financing for a portfolio of five seniors housing communities in several states operated by Enlivant. The long-term, non-recourse debt was secured by Charlie Shoop at an attractive interest rate. Plus, KeyBank’s Tim Sylvain, Paul Di Vito and Patrick Gilbreath originated and structured a balance sheet... Read More »
  • Watercrest Expands Into Virginia

    Watercrest Senior Living Group announced the groundbreaking of its first seniors housing community in the state of Virginia. This will also be the furthest north development in Watercrest’s portfolio, so far, as the Florida-based developer/operator has plans to expand its Mid-Atlantic offering. In yet another... Read More »
  • Lessons Learned From 2020 & Looking to the Future: An Interview with Ryan Saul

    Ben Swett, Editor of The SeniorCare Investor, sat down (virtually) with Ryan Saul of Senior Living Investment Brokerage to discuss what happened in 2020 for senior care M&A. What facilities were popular targets, how prevalent was price discounting, how did federal stimulus keep many owners on the sales sidelines? Mr. Saul also shared his... Read More »
  • Trustwell Living Getting Started

    Earlier this week, Larry Cohen announced the formation of his new company, Trustwell Living, LLC. As most of you know, Larry was the CEO of Capital Senior Living (CSU) for about 20 years. What you may not know is that he was very popular with his team, from EDs to the C-suite. It looks like those relationships have held, as... Read More »
The IL and CCRC Markets Rule

The IL and CCRC Markets Rule

After suffering in the aftermath of the Great Recession, Independent Living and CCRC property values and occupancy levels have outperformed the rest of the market. Come and learn why and what may happen in the next recession. Sponsored by The Senior Care Acquisition Reports   We are 10 years into the recovery from the Great Recession, which had an outsized impact on the independent living and CCRC market because they are not need driven. Today, occupancy levels are higher than for assisted living and much higher than skilled nursing. Yet many investors, lenders and developers still shy away from these property types. Are they missing something? Next Thursday, November 14, we will be... Read More »
NHI Expands Relationship with Senior Living Communities

NHI Expands Relationship with Senior Living Communities

Senior Living Communities (SLC) secured financing from National Health Investors to purchase and renovate a 248-unit CCRC in Columbia, South Carolina, bringing the REIT’s relationship with SLC to 11 properties with either a long-term lease or a mortgage loan. The $35 million, or $141,100 per unit, purchase price was funded by a draw on NHI’s revolving credit facility with a $32.7 million loan. It came with a five-year term and two one-year extension options at an interest rate of 7.25%. Originally built in 2000 and continuously expanded through 2014, the entrance fee community has 76 independent living homes, 60 IL units, 40 assisted living units, eight memory care units and a 64-bed... Read More »
Greystone Goes To Canada

Greystone Goes To Canada

Greystone Real Estate Advisors closed back-to-back portfolio sales in Canada. Mike Garbers and Cody Tremper, together with TD Securities, represented the seller of 10 senior living communities located throughout the greater Toronto and Ottawa areas. The 10 communities had 1,245 units, of which 1,045 were independent supportive living and 200 were assisted living. All but two were built or renovated in the past 10 years. Sienna Senior Living paid $298 million, or $239,400 per unit (C$382 million).   In their second transaction, they sold four communities in the greater Edmonton area in Alberta. The 775-unit portfolio included 450 independent supportive living units, 237 assisted living... Read More »