• Janus Living Goes Public After Upsizing IPO

    Janus Living, a Healthpeak Properties-formed REIT and now the only publicly traded U.S. REIT fully dedicated to seniors housing with its entire portfolio structured under RIDEA, has launched its initial public offering of Class A-1 common stock. The company is now listed on the NYSE under the ticker “JAN.” It plans to pay a quarterly dividend of... Read More »
  • Partnership Acquires Two Long Island Communities

    Two Long Island assisted living communities were sold by their original developer/operator. Village Green Senior Living in Levittown (opened in 2020) and Village Walk Senior Living (opened in 2018) in Patchogue were acquired by a partnership between Fundamental Advisors, Scribner Capital and Atria Senior Living. They will be renamed Atria... Read More »
  • Artemis Real Estate Partners Purchases Class-A Community

    The developer of a Class-A seniors housing community in the Minneapolis, Minnesota MSA, has passed the torch to a new owner. Pillars of Lakeville, now known as The Crest at Lakeville, sits on 1.8 acres. Oppidan Investment Co., a company that developed multiple Pillars senior living properties in Minnesota, acquired the land from Crossroads... Read More »
  • Stand-Alone Memory Care Community Gets New Owner

    1031 CF Properties, a leading DST investor, acquired a stand-alone memory care community in the Spokane, Washington MSA. Built in 2005 with expansions in 2007 and 2013, Generations Memory Care offers 48 private units with 28,472 square feet on 2.067 acres. The seller was an investment group based in northern California that purchased the asset in... Read More »
  • Not-for-Profit Closes First Public Bond Issue in 20+ Years

    Ziegler announced the closing of a $30.0 million tax-exempt fixed rate bond issue for Butterfield Trail Village, Inc. (BTV). The Series 2026 bonds were issued through The Fayetteville Public Facilities Board. BTV is a not-for-profit corporation founded by five local churches in 1981 to own and operate a continuing care retirement community on... Read More »
Brookdale And Welltower Reach Agreements

Brookdale And Welltower Reach Agreements

Brookdale Senior Living continues to shrink, which is actually good news, and Welltower investors will be glad to see new operators to spread the risk. That is the result of a series of transactions agreed to by the two companies in a major end-of-quarter announcement. Too bad they couldn’t have done this a year or two ago, but maybe it is the new management at Brookdale. In the first of the transactions, Brookdale will pay Welltower $58 million ($14,164 per unit) to cancel leases on 37 communities with 4,095 units in two different lease pools. The leases had current negative cash flow after lease payments, and the projections were for there to be continued losses on them. They were to... Read More »