• 60 Seconds with Swett: October Smashes M&A Record

    We were predicting a record-breaking end to the year in terms of M&A activity, but we are not sure we expected a 100+ deal month, with 110 transactions and counting. Just to put that in perspective, the previous record for any month was 77 deals in October of last year, and only four months had previously broken the 70-deal barrier. So this... Read More »
  • Newmark Ends October with Portfolio Closings

    Newmark announced a flurry of transactions at the end of October involving various institutional firms. The largest was a portfolio of seniors housing communities in the Northeast known as “Stars and Stripes.” Word on the street is that the portfolio sold for north of $800 million, and that a sub-portfolio was valued at more than $1 million per... Read More »
  • Stacked Stone Acquires Missouri Portfolio

    Stacked Stone Ventures announced the purchase of a seven-community assisted living/memory care portfolio in Missouri for $71 million, or $212,600 per unit. Totaling 334 units and 405 beds, the Oak Pointe portfolio was developed between 2015 and 2020 by an investor group called ClearPath Senior Housing, which included Jeff Binder of Senior Living... Read More »
  • Blueprint Sells Georgia Community to LTC Properties

    LTC Properties divested seven skilled nursing facilities through two separate deals for $122 million in October. In those transaction announcements, the publicly traded REIT noted that it intended to redeploy proceeds for the acquisition of newer, stabilized SHOP assets. It looks like that’s what the publicly traded REIT did in Georgia at the... Read More »
  • MIG Announces Two Closings

    Montgomery Intermediary Group announced a couple of transactions at the end of October. First, Andrew Montgomery sold a 120-bed skilled nursing facility in southern Illinois in a value-add deal. Built in the 1960s and 1970s, the facility had a roughly 50% Medicaid census, with between 30% and 35% private pay and 5% to 10% Medicare. It was losing... Read More »

Thrive Senior Living breaks ground in Gainesville, Virginia

At a ceremony on June 26, Thrive Senior Living broke ground on The Tribute at Heritage Village, a 128-unit assisted living and memory-care community in Gainesville, Virginia. Located at the front entrance of Heritage Hunt, a 55+ active adult community, The Tribute at Heritage Village will feature two restaurant dining venues, a movie theater, spa, fitness center with state-of-the-art digital equipment specifically designed for seniors, and salon, as well as a doctor’s office and a telemedicine suite. A completely separate memory-care “neighborhood” will offer a secure environment for residents with Alzheimer’s and other forms of dementia; innovative programming will foster cognitive... Read More »