Genesis HealthCare Sheds More SNFs

Genesis HealthCare continues to pare down its skilled nursing portfolio, putting the leaner company on surer financial and operational footing. The provider entered into a series of agreements with New Generation Health, LLC to transition operational responsibility for 19 facilities in California, Washington and Nevada. For six of those facilities, Genesis sold both the real […]

CBRE’s Recent Deal Haul

CBRE had quite the month in November, with its National Senior Housing team announcing four separate sales totaling about $400 million, and its Senior Housing Debt and Structured Finance team closing over $215 million in debt in November. Aron Will and Austin Sacco facilitated the debt transactions, while Lisa Widmier represented the three different sellers […]

Greystone Closes Two Freddie Mac Financings

Greystone ended October with a couple of varied transactions. First, Cary Tremper facilitated a Freddie Mac $43.98 million loan to support the acquisition of a 207-unit senior living community in Daly City, California (San Francisco MSA). The loan was originated on behalf of the borrower, Senior Resource Group and Welltower. Built between 2008 and 2011, […]

Of Ventas, Welltower and NIC

I know as one gets older, confusion can become more common. And today, I am a little confused about the state of the senior living industry. -Sponsored by The Senior Care Acquisition Reports   NIC MAP has reported that maybe we have hit bottom in the third quarter, and that new construction starts are starting […]

Dissecting the Jump in Average Assisted Living Values

It’s amazing the difference that one deal can make. We are talking about Welltower’s $1.76 billion sale of its entire Benchmark Senior Living portfolio to KKR and its impact on the average private per assisted living unit sold in the most recent four quarters. That sale, which came in at $425,400 per unit across the […]

Genesis HealthCare Continues Restructuring

Genesis HealthCare announced additional changes to its capital structure and leased interests in skilled nursing facilities, all for the better. Genesis has partnered with a private investor to purchase 18 nursing facilities previously leased from Welltower and Second Spring Healthcare Investments. Genesis will have a 30% equity stake in these 18 facilities, and lease them […]

KeyBank Arranges Financing for Foundations Health Solutions

KeyBank Real Estate Capital secured an $11 million HUD loan for Foundations Health Solutions to pay down acquisition debt it used to buy a 150-bed skilled nursing facility in Columbus, Ohio. KeyBank had provided the original $87.5 million bridge loan, which supported the acquisition of this Columbus facility plus eight other facilities previously owned by […]

Earnings Announcements Feature Major M&A Moves

The mid-summer M&A doldrums abruptly ended this year with the earnings announcements from the publicly traded REITs. They started with Welltower, which announced its $1.8 billion Benchmark Senior Living portfolio sale (for 48 properties) and several major portfolio acquisitions with existing partners Sunrise Senior Living and Discovery Senior Living and new partners Balfour Senior Living […]