• REIT Acquires Two Class-A Assets

    The team at Newmark handled the sale of two Class-A seniors housing assets in Arkansas and Texas. The Rogers community in Northwest Arkansas was built in 2023 with 221 total units, comprising 26 cottages, 109 independent living units, 56 assisted living units and 30 memory care units. The Burleson, Texas, community also opened in 2023 and... Read More »
  • Blueprint Closes Inaugural North Dakota Deal

    Ryan Kelly, Steve Thomes, Connor Doherty and Kory Buzin of Blueprint arranged the sale of a 75-bed skilled nursing facility in central North Dakota. At the time of marketing, the facility was generating positive cash flow despite operating at only 50% occupancy, highlighting a compelling opportunity for an incoming operator to drive census growth... Read More »
  • Regional Bank Provides Refinancing

    Grace Hill Capital served as exclusive financial advisor and placement agent on a refinance for a seniors housing community in Fountain Inn, South Carolina. A regional operator/borrower received the $10.33 million five-year loan with a fixed rate and one year of interest only. It was structured as a delayed draw term facility at 70%... Read More »
  • Walker & Dunlop Arranges Construction Funding

    Walker & Dunlop, Inc. arranged $40.52 million in debt and equity for the construction of The Highlands, a 137-unit affordable development for seniors in Hyattsville, Maryland. PJ McDevitt, managing director of W&D Affordable Debt, arranged the debt, and Macy Kisilinsky, senior managing director of W&D Affordable Equity, arranged the... Read More »
  • Class-A Communities Secure Bridge Financing

    BWE arranged a $52 million bridge loan for a portfolio of Class-A independent living, assisted living and memory care communities located across the Atlanta, Georgia, and Philadelphia, Pennsylvania, metropolitan areas. Ryan Stoll, National Director of Seniors Housing and Care at BWE, and Taylor Mokris, Senior Vice President of Seniors Housing and... Read More »

Summer of the Big Deal

We had been talking about how 2016 was the “year of the small deal,” with near-record transaction levels but few mega deals. That changed at the end of July and certainly at the start of August, when several large deals were announced. Welltower caused the biggest stir in acquiring 19 seniors housing properties operated by Vintage Senior Living for a total of $1.15 billion, making it the largest long-term care transaction in 2016 by more than double (Welltower’s February acquisition of the Aston Gardens portfolio for $569 million came in second). The portfolio, which includes independent living, assisted living and memory care, is concentrated in high income markets in Southern and... Read More »

KeyBank provides $635 million Fannie Mae credit facility

KeyBank provoked some conversation at the recent NIC Conference after announcing that it would provide a $635.6 million Fannie Mae credit facility to subsidiaries of Senior Housing Realty Trust, a Maryland-based REIT owned by an affiliate of Senior Resource Group and its institutional partners. The facility came with a 10-year term (with 10 years of interest only) and a fixed rate, plus the option for releases, additions, substitutions and the capacity to expand with additional fixed or floating debt. KeyBank will also be able to provide flexible financing solutions ranging from balance sheet to permanent mortgage loans. The 12 properties that are being refinanced with this facility are... Read More »