• Another Senior Care REIT Files for IPO

    Another senior care REIT is eyeing the public markets after filing a registration statement with the SEC for a proposed offering of Class A common stock. National Healthcare Properties’ offering remains subject to market conditions and other customary conditions, and the number of shares and pricing range have not yet been determined. And if... Read More »
  • SLIB Handles High-Quality SNF Sale in Texas

    Matthew Alley of Senior Living Investment Brokerage handled the sale of a high-quality skilled nursing facility in Lubbock, Texas. Built in 2010 and 2013, Crown Point Health Suites features 108 beds and is well maintained. It also performed strongly, with a 20% margin on nearly $14.5 million of revenues, and an 86% occupancy rate. Its independent... Read More »
  • Jaybird Senior Living Acquires Multi-State Portfolio

    An affiliate of Jaybird Senior Living, Jaybird Capital, acquired five senior living communities across Utah, Wisconsin and Minnesota. Jaybird assumed management of the communities in October and stabilized them before executing on the purchase. The company is currently targeting the addition of 15 more communities to its portfolio throughout the... Read More »
  • Newly Formed Investment Firm Enters Senior Care

    An 84-unit assisted living/memory care community in Jacksonville Beach, Florida, recently traded with the help of Continuum Advisors, which represented the institutional joint venture seller. Built in 2014, Beach House has 64 assisted living and 20 memory care units, with 100 licensed beds. It is situated on a barrier island near some of the most... Read More »
  • Seller Divests Geographic Outlier to Large Owner/Operator

    Senior Living Investment Brokerage announced that it sold a well-occupied seniors housing community in Oregon. The building is on an acre in Sheridan, and comprises 44,805 square feet. It was developed in 1996 and features 53 assisted living units. The community was 94% occupied at the time of closing.  Jason Punzel, Vince Viverito, Jake... Read More »

Assisted Living “Lite” Or Not

Whether you think you operate your assisted living community under a hospitality model or a healthcare model, there will only be more health care in the future. Recently, there have been some stories in the senior care media about the hospitality model for assisted living compared with the healthcare model. That was a big debate in the late 1990s when 20 assisted living companies went public as some companies didn’t want to be labeled as “healthcare” companies, with all the regulatory and reimbursement baggage that comes with it. Some preferred to call the hospitality model “assisted living lite.” In fact, the founder of Sunrise Senior Living was famously quoted as saying Sunrise did not... Read More »

Welltower builds up

When Welltower announced its Q3:15 earnings, they revealed a host of seniors housing transactions closed in that period, totaling $361 million in investments. The largest purchase was for three seniors housing properties in Colorado (2) and Utah (1), with a combined 461 units. Welltower paid $155 million, or $336,200 per unit, for the properties, which are all managed by the company’s new operating partner, Leasure Care. There is a new master lease with a corporate guarantee, 6.0% initial yield and 3.0% annual escalators. The properties are expected to have a 1.1x stabilized lease coverage ratio after management fee. For the other third quarter acquisitions, prices ranged from $15 million... Read More »

Seniors Housing Census Woes Continue

Brookdale Senior Living is not the only one with some recent census declines… The next few weeks will be very telling in terms of the direction of some of the major seniors housing companies. All eyes will be on Brookdale Senior Living next week as it announces second quarter results and whether it has reversed its downward occupancy trend. Brookdale’s stock price is down about 15% since June 1 and is at its lowest level in more than eight months. Those activist shareholders must be going nuts. We know NIC MAP indicated a tough second quarter in general, and we also know that the Atria Senior Living and Sunrise Senior Living properties in the Ventas stable posted a combined 40 basis... Read More »