LTC Properties, Affinity Living Group & Sunwest Management

The story of Sunwest Management keeps creeping up in the news, although not in a bad way this time, as a former Sunwest assisted living/memory care community in Spartanburg, South Carolina, just sold to a joint venture between LTC Properties and Affinity Living Group. Originally built by the former Manorhouse Retirement Communities in 1999, the […]

Two Oregon Originations for Grandbridge Real Estate Capital

Two Portland, Oregon-area seniors housing communities received financing from Grandbridge Real Estate Capital’s Seniors Housing and Healthcare Finance Group, headed by Richard Thomas and Meredith Davis. Starting in Portland proper, the team closed a $12 million non-recourse loan for a 58-unit assisted living/memory care community that at one point was the last acquisition of Sunwest […]

Sunwest still in the news

Continuing the Sunwest saga, Omega Communities purchased a 104-unit assisted living community in Hoover, Alabama that was a Sunwest property from 2006 to 2010. When the company filed for bankruptcy protection, the lender foreclosed and then sold it to an individual investor, who issued bonds to finance the acquisition. AdCare Health Systems guaranteed the bonds, […]

Fraud And Senior Care

Despite some high-profile allegations against senior executives for some type of financial wrong-doing, we are still thankful for all the good work done by the nation’s caregivers. What is it about caring for the elderly and financial fraud or other misdeeds? About once a week I read about a home health agency being charged with […]

Upside in Oregon

Dan Mahoney and Tony Cassie of Marcus & Millichap handled the sale of two assisted living/memory care communities in Oregon, both with operational upside. First, Focus Healthcare Partners saw potential in a 58-unit community in downtown Portland, which they snapped up for $10.8 million, or $186,200 per unit. Built in 2007, the community was the […]

The end of the Sunwest Management saga

At long last, the end of a saga. The final Sunwest Management properties of the portfolio purchased by Lone Star, have been sold, and it was somewhat of a unique sale. For reasons that are too detailed to discuss, the properties were the last ones in a private REIT established years ago by the seller, […]