• Brookdale’s Operations Improve While NOI and Margins Lag

    Following the preliminary results announcement after the January 28 close, Brookdale Senior Living’s stock spiked 11.5% on January 29. Investors cheered the upbeat early numbers, but the mood shifted once the official quarterly and full-year results came out February 18 after the bell. The stock opened nearly 7% below the prior close and dropped... Read More »
  • Morgan Stanley and Foundry Commercial Exit Spring Arbor Portfolio

    Morgan Stanley Investment Management, through funds managed by Morgan Stanley Real Estate Investing, and Foundry Commercial have completed their exit from the Spring Arbor Senior Living portfolio through the sale of the remaining 11 assets. The seniors housing communities, located in Maryland and Virginia, comprise 795 assisted living and memory... Read More »
  • Investor Enters Seniors Housing Sector Through Recapitalization

    Amy Sitzman and Giancarlo Riso of Blueprint handled the recapitalization of Countryside of Wichita Falls, a 50-unit assisted living community in Wichita Falls, Texas. The asset offered value-add potential through renovations, rebranding and a planned memory care addition. As occupancy began to improve, Blueprint launched a marketing process,... Read More »
  • Public REIT Divests to National Provider

    A publicly traded REIT recently completed the wind down of its relationship with an outgoing operator through its sale of a seniors housing community in Wisconsin. Michael Segal, Lauren Nagle and Daniel Waldhorn of Blueprint handled the deal, targeting local, regional and national investors. A growing national provider was selected as the... Read More »
  • Multiple Buyers Acquire Skilled Nursing Beds

    Under Ohio’s certificate of need regulations, skilled nursing beds can be transferred from counties deemed over-bedded to those experiencing a shortage. Taking advantage of this window, 12 separate sellers, motivated by downsizing, closures or strategic repositioning, transferred their beds with the help of Senwell Senior Investment Advisors. Ben... Read More »

Harrison Street makes an exit…and a return

An assisted living community in Mesa, Arizona has evolved a lot over its 30-year history. Built in 1985 as low-income housing, it was converted to seniors housing in 1996. Between 2003 and 2007, the owner at the time invested $5 million in renovations that allowed them to more than double rents in that time. Then, Harrison Street Real Estate Capital and its operating partner for the community, Milestone Retirement Communities, stepped in to purchase the community in 2008 for $15.85 million, or $90,600 per unit. Over time, the independent living units were reduced to make room for more assisted living. Currently there are 123 AL units, 30 memory care units and 22 IL units in 13 stories.... Read More »