• Public REIT Purchases Texas Class-A Seniors Housing

    by | Apr 23, 2024 3:56 pm | Acquisitions

    Blueprint was engaged in the divestment of a Class-A seniors housing community in San Antonio, Texas. Built in two phases in 2011 and 2017, Franklin Park TPC Parkway comprises 269 independent living, assisted living and memory care units. Following the completion of a six-year freeway expansion project that affected leasing, access to the... Read More »

  • Eads Sells Its 24th & 25th Missouri Community

    by | Apr 23, 2024 3:54 pm | Acquisitions

    Patrick Byrne of Eads Investment Brokerage facilitated the divestment of two seniors housing communities in Missouri. This marks the 24th and 25th communities sold in Missouri for Eads. The Moberly community (which we believe to be Mark Twain Assisted Living) comprises 35 assisted living/independent living units and sold for $2.57 million, or... Read More »

  • 60 Seconds with Swett: CMS Raises the Minimum Staffing Mandate

    by | Apr 23, 2024 3:48 pm | 60 Seconds

    On Monday, CMS came out with its final minimum staffing standards for nursing homes, but the eventual outcome is anything but final. Despite the outcry from nursing home providers from the previous proposed mandate of three hours per resident per day, asking simple questions like how can we pay for this and where will this newly needed staff come... Read More »

  • More Shareholder Activism

    by | Apr 22, 2024 9:04 am | Opinion

    Fresh from its success in getting two people voted onto the Ventas Board of Directors, Land & Buildings is at it again, this time with National Health Investors. Like all the REITs, NHI’s managers and tenants had their share of problems during the pandemic. Who didn’t? Most of these issues are behind it, but the REIT could be in even stronger... Read More »

  • Active Adult Expansion A Hit With Investors

    by | Apr 22, 2024 9:02 am | Developments

    How often have we heard that new development is dead? Or that CCRCs (LPCs) are on their way out? Too often. But how often do you hear about an Active Adult expansion on a CCRC campus, and one with entrance fees? Not often enough. That didn’t stop Three Pillars Senior Living Communities and Cain Brothers from putting together a plan that may... Read More »
Ziegler Closes Financing for Colorado Operator

Ziegler Closes Financing for Colorado Operator

by | Nov 2, 2021 4:05 pm | Financings

Ziegler announced the closing of Series 2021 bonds for Christian Living Neighborhoods (CLC), a Colorado not-for-profit that provides housing, healthcare and community outreach programs for over 1,000 seniors and their families. CLC owns and operates three communities under the Christian Living Neighborhoods brand, comprising 782 units. Proceeds of the bonds will be used to refinance existing Series 2011 and 2021 bonds, fund $11.8 million of capital expenditures at its Someren Glen property in Centennial, fund a deposit to the common reserve fund and pay the cost of issuance. The bonds will be non-rated with a maturity date in 2042, and will help better position CLC to pursue long-term... Read More »
Ziegler Refinances Two AL Communities

Ziegler Refinances Two AL Communities

by | Oct 26, 2021 4:34 pm | Financings

Columbia Pacific Advisors refinanced two of its seniors housing communities, enlisting Ziegler as its exclusive financial advisor to close the transactions. The communities in question are The Landing at Lake Worth in Lake Worth, Florida, and The Linden at Stonehaven Square in Tulsa, Oklahoma. Each 134-unit community offers assisted living and memory care services. Chicago Pacific Advisors developed the Florida property in late 2018 and the Oklahoma property in late 2017 as part of its strategy to expand into the southern United States. To refinance existing the construction loans, Ziegler’s Senior Housing & Care Finance Practice closed two bridge debt placements totaling $37.75... Read More »
Ziegler Continues Active Month with Virginia Financing

Ziegler Continues Active Month with Virginia Financing

by | Oct 20, 2021 9:45 am | Financings

Ziegler is continuing its active month with the arrangement of $71.33 million of Series 2021A and 2021B bonds for a life plan community in Williamsburg, Virginia. Williamsburg Landing, founded in 1982, consists of 317 independent living apartments, 72 assisted living units, 24 memory care units and 73 skilled nursing units.  Prior to this loan, Williamsburg Landing had 14 separate debt obligations provided by three banks totaling nearly $100 million. These new bonds will refinance nine of the existing bank obligations in an effort to simplify their capital structure.   The proceeds of the bonds will be used to refund nine existing bank obligations, pay swap termination payments,... Read More »
Ziegler Arranges Two More Financings

Ziegler Arranges Two More Financings

by | Oct 15, 2021 3:16 pm | Financings

Ziegler has closed two financings for communities in Wisconsin and Virginia. First, Ziegler arranged $38.68 million of Series 2021 fixed-rate revenue bonds for the construction of a new seniors housing community in Muskego, Wisconsin. The financing was provided to PHW Muskego, Inc., a not-for-profit affiliate of Presbyterian Homes and Services. They are non-rated, tax-exempt serial and term bonds with a 40-year maturity. Proceeds of the bonds will be used to finance the construction of Stair Crest community, fund a debt service reserve fund, fund 18 months of interest on the bonds and pay costs of issuance associated with the loan. Stair Crest is set to contain 80 independent living units,... Read More »
Ziegler Closes Financing for Atlanta CCRC

Ziegler Closes Financing for Atlanta CCRC

by | Oct 8, 2021 3:55 pm | Financings

Ziegler closed $124.8 million in Series 2021A/B fixed-rate bonds and $45,800,000 in Series 2021C Direct Bank Bonds for an Atlanta, Georgia-area CCRC. Opened in the early 1960s, Canterbury Court is a CCRC located in the Buckhead-Brookhaven neighborhood. It was started by the All Saints Episcopal Church and St. Luke’s Episcopal Church when they noticed a need for “persons of mature years to live in comfort, with a secure future.” Since opening its doors in 1965, Canterbury Court has grown to include 187 independent living units, 18 personal care (assisted living) units and 42 skilled nursing beds. It is undergoing a major expansion project that will replace the existing healthcare... Read More »