• Another Senior Care REIT Files for IPO

    Another senior care REIT is eyeing the public markets after filing a registration statement with the SEC for a proposed offering of Class A common stock. National Healthcare Properties’ offering remains subject to market conditions and other customary conditions, and the number of shares and pricing range have not yet been determined. And if... Read More »
  • SLIB Handles High-Quality SNF Sale in Texas

    Matthew Alley of Senior Living Investment Brokerage handled the sale of a high-quality skilled nursing facility in Lubbock, Texas. Built in 2010 and 2013, Crown Point Health Suites features 108 beds and is well maintained. It also performed strongly, with a 20% margin on nearly $14.5 million of revenues, and an 86% occupancy rate. Its independent... Read More »
  • Jaybird Senior Living Acquires Multi-State Portfolio

    An affiliate of Jaybird Senior Living, Jaybird Capital, acquired five senior living communities across Utah, Wisconsin and Minnesota. Jaybird assumed management of the communities in October and stabilized them before executing on the purchase. The company is currently targeting the addition of 15 more communities to its portfolio throughout the... Read More »
  • Newly Formed Investment Firm Enters Senior Care

    An 84-unit assisted living/memory care community in Jacksonville Beach, Florida, recently traded with the help of Continuum Advisors, which represented the institutional joint venture seller. Built in 2014, Beach House has 64 assisted living and 20 memory care units, with 100 licensed beds. It is situated on a barrier island near some of the most... Read More »
  • Seller Divests Geographic Outlier to Large Owner/Operator

    Senior Living Investment Brokerage announced that it sold a well-occupied seniors housing community in Oregon. The building is on an acre in Sheridan, and comprises 44,805 square feet. It was developed in 1996 and features 53 assisted living units. The community was 94% occupied at the time of closing.  Jason Punzel, Vince Viverito, Jake... Read More »
REIT Buys Boston Senior Care Property

REIT Buys Boston Senior Care Property

National Health Investors picked up a senior care campus outside of Boston, Massachusetts for a purchase price over $50 million. The REIT also immediately leased it back to the previous operator, Wingate Healthcare, for a 10-year term with three 5-year renewal options and an initial annual lease rate of 7.5% plus annual fixed escalators. Located in Kingston, this campus features three separate buildings with 34 independent living units, 69 assisted living units and 164 skilled nursing beds. Funding the acquisition with a draw on its revolving credit facility, NHI plans to spend up to $1.9 million in capital improvements over the next two years, which will be added to the lease... Read More »
Wingate Healthcare Gets Financing From Gemino Healthcare Finance

Wingate Healthcare Gets Financing From Gemino Healthcare Finance

Gemino Healthcare Finance, a specialty finance company and portfolio company of Solar Senior Capital Ltd. that is focused on providing senior secured loans to healthcare service providers, recently funded a $6 million senior secured credit facility on behalf of an affiliate of New England senior living operator, Wingate Healthcare. Family-owned for nearly 30 years, Wingate operates over 35 senior living communities mostly in Massachusetts (where it is based) but also in New York and Rhode Island. The company used the loan proceeds to pay off existing debt and for working capital purposes, gaining additional liquidity as it continues to grow. Read More »