• Community First Solutions Acquires Again in Ohio

    Ziegler was engaged by Marquee Capital, the real estate company affiliated with Marcus Investments, LLC, the Marcus’ family office, in the sale of its seniors housing community in Mason, Ohio. Built in 2020, BrightStar Senior Living of Mason sits on 3.2 acres with 41 assisted living and memory care units. The community was well occupied at 90%,... Read More »
  • Joint Venture Acquires Nashville Active Adult Community

    An active adult community in Germantown, Tennessee, found a new owner thanks to the team at Newmark. Built in 2020, Avenida Watermarq is a 161-unit, Class-A active adult community in an affluent suburb of Nashville. There are one- and two-bedroom options averaging 919 square feet per unit. Occupancy was 87%. Inspired Real Estate Partners and GEM... Read More »
  • Institutional Owner Divests Ohio Facility

    Evans Senior Investments arranged the sale of a skilled nursing facility in Ohio on behalf of an institutional owner looking to exit the market. The facility comprises 88 beds and 20 independent living units, which served as a referral source for the nursing home. The buyer was a regional owner/operator that is actively expanding in Ohio. This is... Read More »
  • Strawberry Fields Completes Missouri SNF Portfolio Acquisition

    Strawberry Fields REIT, Inc. announced that it completed the acquisition of nine skilled nursing facilities comprising 686 beds in Missouri for $59 million, or $86,000 per bed. The REIT completed the acquisition using cash on hand and the issuance of approximately $2.0 million in OP Units of Strawberry Fields REIT LP to the seller. Eight of the... Read More »
  • Macquarie Asset Management Launches Health Wave Partners

    Macquarie Asset Management, which has over 35 years of experience in the real estate sector and a current network of 15 specialist operator investments globally, announced the launch of Health Wave Partners, a seniors housing platform aimed at targeting investments in modern seniors housing assets alongside established operators. The platform... Read More »
United Community Bank Closes Two Loans

United Community Bank Closes Two Loans

United Community Bank (UCB) closed two new loans in the month of April, both for senior care facilities in the Southeast. First, in Terra Bella, Florida, the UCB team originated a $24.8 million loan for Keystone Senior Living to refinance its 140-unit independent living, assisted living and memory care community. Renasant Bank partnered with UCB on the transaction, which featured a 36-month term and variable interest rate. Keystone built the community in 2016 with a construction loan and mezzanine debt. The new 75% loan-to-value loan from UCB, plus additional sponsor equity, took out that debt.  The bank also originated acquisition financing for Carlyle Senior Care to exercise a lease... Read More »
Portopiccolo Makes Another SNF Acquisition

Portopiccolo Makes Another SNF Acquisition

The Portopiccolo Group just made its third skilled nursing acquisition of the year, making it one of the most prolific buyers in that space in 2019. Its most recent target was a 150-bed skilled nursing facility in Virginia Beach, Virginia. To fund the acquisition, Portopiccolo turned to Contemporary Healthcare Capital to closed $1.97 million in mezzanine financing in addition to receiving a senior loan from United Community Bank. About $2.7 million in capital upgrades will also be funded. The transaction is similar to Portopiccolo’s acquisition earlier this year of a 130-bed skilled nursing facility in Roanoke, Virginia that included a 24-bed accredited ventilator unit. That always... Read More »
Portopiccolo Makes Another SNF Acquisition

The Portopiccolo Group Picks Up Virginia SNF

Contemporary Healthcare Capital worked with skilled nursing owner The Portopiccolo Group to secure mezzanine financing for its latest SNF acquisition. The targeted facility is located in Roanoke, Virginia and features 130 beds, including a 24-bed accredited ventilator unit. To fund its purchase, Portopiccolo obtained a senior loan from United Community Bank (that included a participation sold to Millennium Bank) and a $2.0 million mezzanine loan from Contemporary Healthcare Capital. About $1 million in loan proceeds will also be used for future renovations and upgrades made to the facility. Read More »
Senturian Senior Housing Brokerage Sells Alabama Assisted Living Community

Senturian Senior Housing Brokerage Sells Alabama Assisted Living Community

Watson McCollister of Senturian Senior Housing Brokerage handled the sale of a 56-unit assisted living community in Anniston, Alabama. Built in 2000 on 24 acres, this community includes 32 assisted living and 24 memory care units. It was owned by a local operator and operated at a 26% margin on approximately $2.46 million of gross revenues. Occupancy was 91% when the initial offer was accepted, but shot up to 100% by closing, with NOI substantially improving as well. With the help of an $830,000 mezzanine loan provided by United Community Bank and arranged by Contemporary Healthcare Capital, the out-of-state buyer (based in Charleston, South Carolina) purchased the community for $7.86... Read More »
Contemporary Healthcare Capital Closes Two Mezzanine Loans

Contemporary Healthcare Capital Closes Two Mezzanine Loans

Contemporary Healthcare Capital (CHC) announced two small mezzanine loan closings for clients in the Southeastern United States. First, in Anniston, Alabama, the firm closed an $830,000 loan to fund the acquisition of a 56-unit assisted living/memory care community. Then, to Palm Coast, Florida, where CHC arranged a $2.985 million mezzanine loan, with the help of Peninsula Alternative Real Estate, for a to-be-built 64-unit memory care community. CHC’s lending partner, United Community Bank, provided both loans. Read More »