• Chicagoland Portfolio Finds New Owner

    A value-add senior care portfolio in Chicagoland traded with the help of Blueprint’s Ryan Kelly, Connor Doherty, Alex Florea, Lauren Nagle and Brooks Blackmon. The team worked on behalf of a national developer/investor, which had engaged Blueprint to create an exit strategy for more than a dozen geographically disparate, older-vintage communities... Read More »
  • Publicly Traded REIT Divests in Illinois

    Berkadia was engaged in the divestment of an assisted living and memory care community in Barrington, Illinois. The Berkadia Seniors Housing Team, led by Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders, closed the transaction on behalf of a publicly traded REIT. The buyer was a regional owner/operator. But no other details were... Read More »
  • CFG Secures $13.55 Million in HUD Loans

    Capital Funding Group closed two HUD loans totaling $13.55 million to support the refinancing of two skilled nursing facilities. Both facilities are in Illinois, and together they comprise 173 beds. No other details surrounding the financing were disclosed. This announcement follows CFG’s closing of $16.25 million in bridge-to-HUD financing on... Read More »
  • CBRE Secures Bridge Financing For Two Communities

    CBRE secured bridge financing for two seniors housing communities in western Pennsylvania. Aron Will and Tim Root arranged a non-recourse loan with a sub-300 spread through a regional bank. The borrower was CPF Living Communities.  Built in 2017, The Residence at Bethel Park is in Bethel Park with 130 independent living units. The Residence at... Read More »
  • G Capital Markets Closes Cash-Out Recap

    G Capital Markets, a capital advisory firm based in Carmel, California, recently closed on the recapitalization of a 29-unit/59-bed assisted living community in Livermore, California. Built in 2021 by a regional owner/operator, the property leased up in 2022 and has shown consistent strong performance since then, with cash flow margins well over... Read More »
SHA Capital Partners (And Partners) Win with Refinance

SHA Capital Partners (And Partners) Win with Refinance

Nearly four years after it acquired a 66-unit assisted living community in Portage, Wisconsin (Madison MSA), SHA Capital Partners’ efforts were rewarded when it refinanced and earned a 30.0% IRR and 2.25x equity multiple for its primary equity partner. When SHA and its partner, Matthews Senior Living, made the 2015 acquisition, the community was operating well enough. Built in 1999 and renovated in 2006, it was 80% occupied (with a 20% Medicaid census) and operated at a 32% margin on about $1.55 million of revenues. Paying $5.3 million, or $80,300 per unit, SHA and Matthews then spent $350,000 to upgrade the common area and hired a new marketing director who brought occupancy up to 100%.... Read More »
Evans Senior Investments Sells Value-Add Assisted Living

Evans Senior Investments Sells Value-Add Assisted Living

Evans Senior Investments (ESI) successfully sold a 92-unit assisted living/memory care community, for an undisclosed price, in Greendale, Wisconsin (about 10 miles south of Milwaukee). Built in 1998, with additions in 1999 and 2010, this three-building campus includes 92 units of assisted living and memory care, licensed as a Community-Based Residential Facility. Occupancy has been increasing since January 2016, and now sits in the low-90s, with a significant Medicaid census. Chicago-based SHA Capital Partners was the buyer and brought in Matthews Senior Living to operate the community, which is considered to be a value-add opportunity for them. ESI represented an independent owner in the... Read More »