• 60 Seconds with Swett: Kamala Proposes Medicare Coverage of In-Home Senior Care

    by | Oct 8, 2024 3:57 pm | 60 Seconds

    We are getting down to the wire in the 2024 presidential election, and the grasping for new groups of constituents is getting more intense. To appeal to the “sandwich generation,” or those middle-aged people that are simultaneously caring for their children and for their aging parents, Kamala Harris is now proposing a new Medicare benefit for... Read More »

  • Large Florida CCRC Secures Bond Financing

    by | Oct 8, 2024 3:34 pm | Financings

    Ziegler announced the closing of the Series 2024C bonds for The Christian and Missionary Alliance Foundation, d/b/a Shell Point Retirement Community. Shell Point currently comprises 1,334 independent living units, 356 assisted living units and 180 skilled nursing beds on 700 acres in Fort Myers, Florida, across seven neighborhoods: The Island,... Read More »

  • National Healthcare System Exiting Industry

    by | Oct 8, 2024 3:32 pm | Acquisitions

    Evans Senior Investments facilitated the sale of a seniors housing community in the Dallas-Fort Worth, Texas MSA, on behalf of a national healthcare system exiting the industry. The buyer was a regional owner/operator with an existing footprint in Texas.  Built in 2013 and expanded in 2019, Three Forks Senior Living of Forney comprises 60... Read More »

  • PGIM Acquires Class-A Community in Florida

    by | Oct 8, 2024 3:31 pm | Acquisitions, Financings

    Berkadia announced the sale and financing of a Class-A seniors housing community in the Orlando, Florida MSA, Oakmonte Village at Lake Mary. Dave Fasano, Cody Tremper and Mike Garbers represented the seller while Austin Sacco and Steven Muth handled the mortgage banking advisory services. The transaction closed in September. The buyer was a joint... Read More »

  • VIUM Capital Secures Second Securitization

    by | Oct 7, 2024 3:24 pm | Financings

    VIUM Capital and its joint venture partner Merchants Capital have closed on their second securitization of healthcare commercial real estate bridge loans. The $630 million securitization pool comprises loans that were originated by VIUM and underwritten and closed on the balance sheet of Merchant’s parent, Merchants Bank of Indiana, within the... Read More »

Stayin’ Alive

by | Sep 23, 2015 8:31 am | Acquisitions

A North Carolina skilled nursing facility that was built in 1994 but voluntarily closed in 2012 was purchased for $6.05 million, or $43,200 per bed. Owned by a regional owner/operator based out of the Southeast, the facility features 133 skilled nursing beds and seven assisted living beds. After closing the facility, the owner still kept the license and CON active, which was probably the motivation behind the acquisition, as the buyer, a North Carolina-based skilled nursing operator, will either invest capital to upgrade/reopen or build a new facility within the county. Patrick Burke of Senior Living Investment Brokerage handled the transaction. Read More »

CCRC in transition sells

by | Aug 12, 2015 8:32 am | Acquisitions

As many of you will read in this month’s issue of The SeniorCare Investor, we discuss the difficulties in valuing an entrance-fee CCRC and a rental CCRC. But how do you value a CCRC that is in the middle of transitioning from entrance fee to all-rental? That was the problem facing a faith-based nonprofit looking to sell its CCRC in St. Louis, Missouri. Built in 1984, 2003 and 2013, the community features 110 independent living units, 22 assisted living units, 22 memory care units and 41 skilled nursing beds. The owner exclusively operates entrance-fee communities, but during the Great Recession, they decided to convert the St. Louis community to all-rental. However, because of the move,... Read More »

Owner of three Texas SNFs exits the market

by | Jun 3, 2015 8:44 am | Acquisitions

We’ve heard it plenty of times in the last year, but an owner/operator is exiting the skilled nursing market with the sale of their three Texas skilled nursing facilities. The portfolio featured some assisted and independent living units, with a total of 473 beds/units. The facility in Waco is comprised of 90 skilled nursing beds, 72 assisted living units and 25 independent living units, and was 98% occupied. The facility in Richardson contained 106 skilled nursing beds and 62 assisted living units, and had a census of just 65%. Lastly, the 119-bed facility in Austin, which was solely skilled nursing, was 85% occupied. The portfolio, built from 1986 to 1988, was only operating at a 13.6%... Read More »

The Hollinger Group exits the seniors housing market

by | Apr 8, 2015 7:57 pm | Acquisitions

Last month, we wrote about Care Investment Trust’s purchase of the Hollinger South Portfolio, which included five properties in South Carolina (4) and Florida (1) and sold for $29.1 million, or $103,000 per unit. This month, the remaining senior living properties owned by The Hollinger Group, dubbed The Hollinger North Portfolio, were sold to Care Investment Trust, a subsidiary of Tiptree Financial, Inc., for $54.48 million, or about $181,000 per unit, with a 7.5% cap rate. The communities, which consisted of 299 units of assisted living and memory care units, were located in Maryland (3), New Jersey (1), Pennsylvania (1) and Virginia (1). Average occupancy was around 94% and the... Read More »