• 60 Seconds with Steve Monroe: You’ve Got To Be Kidding

    Sadly, we are not kidding. President Trump has shown his true colors, and his true loyalty to the almighty dollar, with yet another pardon of one of the bad boys of senior care. But this bad boy is the worst of the group. We are referring to the just announced pardon of criminal Joseph Schwartz, the former owner of Skyline Health. Several months... Read More »
  • Publicly Traded REIT Divests Seniors Housing Portfolio

    A Wisconsin-based developer sold its five seniors housing properties in the Badger State to LTC Properties. Tukka Properties has a longstanding relationship with Walker & Dunlop, which had secured development debt, equity and permanent financing for the assets over the years and had also sold a Tukka-developed property to Welltower in 2021... Read More »
  • Sale Revives Stalled Seniors Housing Development

    Blueprint closed on the sale of a partially developed seniors housing community in Pearland, Texas. Originally planned as a 198-unit independent living, assisted living and memory care community on 9.6 acres, the project was approximately 60% complete when development stalled. Blueprint targeted seniors housing operators and developers, as well... Read More »
  • MONTICELLOAM Closes One of Its Largest Financings

    In one of the largest financings the firm has ever completed, MONTICELLOAM, LLC, along with firm affiliates, funded $470.5 million in total bridge and working capital financing for a sixteen-facility skilled nursing portfolio. The sponsor group, which owns and operates over 200 skilled nursing facilities across the country, used the $455.5... Read More »
  • Cash Flowing Assets Trade in Florida and Oregon

    Blueprint was engaged by a repeat institutional private equity client in the sale of a Class-A assisted living/memory care community in the Clearwater, Florida MSA. The community has received investments over the years and offered immediate in-place NOI and strong operating margins, while presenting some value-add opportunities. Kyle Hallion,... Read More »
White Oak Secures Financing For SNF Portfolio

White Oak Secures Financing For SNF Portfolio

White Oak Healthcare Finance acted as administrative agent on the funding of a large credit facility secured by 14 skilled nursing facilities in the Southeast with more than 1,400 beds. Totaling $185 million, the senior credit facility comes out to about $132,100 per bed of debt. White Oak was able to build on an existing relationship with the borrower and partner with an undisclosed, but best-in-class, operator. No other details were disclosed.  Read More »
White Oak Healthcare REIT Makes First Acquisition

White Oak Healthcare REIT Makes First Acquisition

Earlier this year, White Oak Healthcare Finance announced that it was forming a new REIT to invest up to $500 million in seniors housing and skilled nursing acquisitions. To do that, they hired a new team consisting of Jeff Erhardt, Paul Nevala, Mike Treiber and John Brussard, all of whom founded Capital Healthcare Investors, a wholly owned subsidiary of MTGE Investment Corp., a publicly traded hybrid REIT. Now, the REIT, appropriately named White Oak Healthcare REIT, is making its first acquisition, involving a four-property senior living portfolio. Located in Arkansas (2), Florida and Pennsylvania, the portfolio features a total of 104 independent living, 230 assisted living and 103... Read More »
White Oak Refinances GMF Capital SNF Portfolio

White Oak Refinances GMF Capital SNF Portfolio

GMF Capital refinanced 14 of its skilled nursing facilities with an $81 million credit facility secured by White Oak Healthcare Finance. The financing is comprised of a $66 million senior credit facility to refinance the properties, which are located in Ohio and Kentucky, and a $15 million line of credit closed for the operating company. This isn’t GMF’s first experience with White Oak, as the lender arranged another senior credit facility for the investment management platform to acquire a couple of assisted living/skilled nursing properties in Rhode Island at the end of 2018. Meridian Senior Living was the operating partner in that deal. Read More »
White Oak Healthcare Finance Buys $700 Million In Senior Care Loans

White Oak Healthcare Finance Buys $700 Million In Senior Care Loans

White Oak Healthcare Finance is aggressively growing its presence in the senior care lender market and purchased a portfolio of 12 skilled nursing and seniors housing loans from Capital One and its participant banks. Financial terms were not disclosed, but the loans totaled approximately $700 million and helped Capital One reduce its skilled nursing exposure. So, it was a win-win for both parties. Capital One also provided debt financing for White Oak to fund the transaction. This isn’t White Oak’s first big wave in the senior care lending market. Last month, the company served as administrative agent and lead lender on the funding of a $190 million senior credit facility of 17 skilled... Read More »