• CareOne/Cardinal Purchase Pennsylvania Property

    Blueprint was brought on by a Boston-based real estate investment and development firm in its divestment of a non-core seniors housing community in Quakertown, Pennsylvania. Built in 1989, Independence Court of Quakertown is an 89-unit, 116-bed assisted living community. Occupancy struggled to fully recover from pandemic-era lows, pushing the... Read More »
  • Two Separate Transactions Close in California

    The Reis Team at Marcus & Millichap handled two separate closings in California. First was a lease transaction for an assisted living community in Southern California with 260 beds. The real estate is owned by a local investor, and the team sourced a growing California-based operator that was looking to expand its footprint in the... Read More »
  • Town Lane Acquires Two Communities and Recapitalizes a Third

    Discovery Senior Living announced the recapitalization and closing of three Class-A, purpose-built, independent living, assisted living and memory care communities: Discovery Village at Naples (Naples, FL), Discovery Village at Sarasota Bay (Sarasota, FL) and Discovery Village at Castle Hills (Lewisville, TX).  All three communities were... Read More »
  • Oxford Finance’s Healthy First Half of 2025

    Oxford Finance announced a healthy first half of 2025, with more than $715 million in new loan commitments during that period. The largest transaction saw Oxford provide a $234.9 million term loan and a $22.0 million revolving line of credit to refinance four behavioral health facilities and finance the acquisition of 13 skilled nursing... Read More »
  • Cambridge Realty Capital Provides HUD Loans

    Cambridge Realty Capital provided $19.316 million in HUD-insured Section 223(f) financing for two seniors housing assets in Texas and Missouri. The Texas financing was provided for the purchase of Ashwood Court, a 120-bed assisted living community in North Richland Hills. The Missouri financing was provided for the refinance of Northland... Read More »
Ziegler Closes SNF Portfolio Sale

Ziegler Closes SNF Portfolio Sale

Don Husi, Dan Revie and Tedd Van Gorden of Ziegler represented a not-for-profit owner of three skilled nursing facilities in Delaware in a sale that closed earlier this month. The sales price was $67.0 million, or just over $141,600 per bed/unit. That represents one of the highest prices in the state. The seller was Emerald Shelter Group, a Nashville, Tennessee-based owner of seniors housing, healthcare properties and affordable housing assets in the Midwest and Southeast.   Two of the nursing facilities are located in northern Delaware, in Newark and Wilmington, while the third property is located further south in Lewes. The portfolio includes 430 skilled... Read More »
Ziegler Closes Integrace Bond Financing

Ziegler Closes Integrace Bond Financing

Ziegler secured a revenue bond series for its client, Integrace, Inc., an affiliate of Acts Retirement-Life Communities as of April 1, 2019, to restructure and refinance its debt, which was held with multiple banks and other investors, and to take advantage of low borrowing costs at the time. So, with the help of Ziegler, Integrace issued $99.3 million in bonds, consisting of a tax-exempt series that were priced to yield 2.84% and a taxable series priced to yield 3.3%. The taxable bonds were structured with a 15-year commitment from a large institutional investor, while the tax-exempt bonds came with a seven-year commitment. Neither series had a debt service reserve fund and were not... Read More »
Ziegler Finances Wingate Healthcare Acquisition

Ziegler Finances Wingate Healthcare Acquisition

Ziegler successfully closed $42.5 million in rental senior housing bonds, consisting of both taxable and tax-exempt bonds, to support Wingate Healthcare’s acquisition of two senior living communities in New England. The Pittsfield, Massachusetts community has 125 beds in 118 units, while the Providence, Rhode Island community has 96 beds in 93 units. Both offer assisted living and memory care services and were previously operated and leased by an affiliate of Wingate, which should make for an easier ownership transition. Wingate will also reposition the properties, including converting the previously closed skilled nursing beds at the Providence property into early-stage memory care units... Read More »
Ziegler Finances SNF Repositioning/Renovation Project

Ziegler Finances SNF Repositioning/Renovation Project

Ziegler worked on behalf of St. Ann’s of Greater Rochester, a seniors housing and health services provider in the Rochester, New York area, to fund a campus-wide improvement project that started in 2015. The first phase involved the relocation of 34 post-acute rehabilitation beds from one facility to the ninth floor of its largest skilled nursing facility, St. Ann’s Community. Phase II will be comprised of a renovation to floors three through eight of St. Ann’s Community, and will result in a net-reduction of 96 beds. Together with other available funds, St. Ann’s received $108.825 million in tax-exempt, fix-rate bonds to finance the project, capitalized interest, outstanding indebtedness... Read More »
Ziegler Finances SNF Repositioning/Renovation Project

Ziegler Finances SNF Expansion for Large Florida CCRC

A massive senior living community in Fort Myers, Florida, has plans to replace its skilled nursing facility, and just received bond financing to do it. Ziegler arranged the placement of the $81.16 million in bonds for the Obligated Group, which consists of two Florida not-for-profit organizations: The Christian and Missionary Alliance Foundation, Inc. (d/b/a Shell Point) and The Alliance Community for Retirement Living, Inc. Shell Point operates the Fort Myers campus, which includes 1,292 independent living units, 410 assisted living units and 219 skilled nursing beds spread across two locations that total 225 acres. The campus has come a long way from the original 48 IL units built in... Read More »