Transactions & Financings: Solera Senior Living Expands; Harrison Street, Revera JV Acquires Portfolio

Berkadia and Solera Senior Living announced the acquisition of the Edgeworth Park at New Town assisted living and memory care community in early November. Berkadia announced the deal on behalf of Connecticut-based Wheelock Street Capital from sellers Jon Liebler, Derek Robertson, and Scott Wise. Solera will partner with Wheelock Street Capital and serve as the […]

Transactions & Financings: NHI’s Completes 8-Property, $115M Holiday Portfolio Sale; Bridge Sells Community for $15M

National Health Investors (NYSE: NHI) completed a sale of eight communities operated by Holiday Retirement. The total price was $115 million. The communities total 909 units, and NHI expects to realize a gain on the sale of up to $2 million. To date, the company announced $203.4 million in dispositions and expects to end 2021 […]

Transactions & Financings: PGIM, Greystone Facilitate Harrison Street-Oakmont Deal; Lifespace, Phoenix, Alta Grow

Harrison Street Real Estate Capital’s $1.2 billion acquisition of 24 senior living communities formerly owned by Healthpeak Properties (NYSE: PEAK) and Gallaher Companies in early June was facilitated with loans from two large financial firms. Greystone placed and executed financing for the purchase of 16 of the communities in the portfolio. The package involved Freddie […]

Harrison Street Acquires 24-Property Oakmont Portfolio for $1.2 Billion

Chicago-based private real estate investment management firm Harrison Street Real Estate Capital announced on Tuesday that it acquired a portfolio of 24 senior housing communities in California and Nevada operated by Oakmont Management Group, for approximately $1.2 billion. Additionally, Harrison Street is selling a 14-property medical office portfolio to real estate investment trust Healthpeak Properties […]

Transactions & Financings: Lifespace Sells 2 CCRCs; Cano Health Completes $4.4B SPAC Deal

Lifespace Communities continues to make progress in its efforts to streamline its portfolio for growth. The West Des Moines, Iowa-based nonprofit continuing care retirement community operator announced it is turning over ownership and management of two campuses — Deerfield, in Des Moines, Iowa; and Grand Lodge at the Preserve in Lincoln, Nebraska — to Immanuel […]

Senior Housing Investors May Hold $9B to $12B in Dry Powder, Await Occupancy and Debt Market Recovery

The coronavirus pandemic significantly slowed the development and acquisition pipelines of large-scale investors, as the capital markets retreated to the sidelines and waited for some stability to enter the lending landscape. Now, there could be as much as $12 billion in dry powder ready to deploy in senior housing, estimates Dustin Warner, director with Harrison […]

Transactions & Financings: Welltower Closes $750M Note Offering; Boston Financial’s $173M LIHTC Fund

Welltower (NYSE: WELL) is improving its liquidity debt maturities situations. The Toledo, Ohio-based health care real estate investment trust closed a $750 million offering of 2.8% senior unsecured notes, due in June 2031. Welltower will use the net proceeds to redeem $340 million of outstanding 3.75% senior notes due March 2023, and $335 million of […]

3 Takeaways from Healthpeak’s Exit For The Future Of Senior Housing

Last week, Discovery Senior Living announced that Hilary Bullard — formerly VP of senior housing asset management with Healthpeak (NYSE: PEAK) — will lead the new Morada brand. Discovery is launching Morada with 16 communities recently acquired from Healthpeak. The Bullard hire and Morada’s launch are among many news items that have been generated from […]

Transactions & Financings: Pennant Group Expands Credit Facility; Springpoint’s $115M Refinancing

The Pennant Group (Nasdaq: PNTG) gave itself more financial flexibility a year into the coronavirus pandemic. The Eagle, Idaho-based company amended its revolving credit facility to $150 million, of which only $18.3 million was drawn as of February 22. Coupled with strong cash flow, expands Pennant’s ability to opportunistically target senior housing, home health and […]

Transactions & Financings: McFarlin Group Sponsors Global Investor; Greystone’s $24M HUD Loan

McFarlin Group is looking beyond the U.S. for senior housing investors. The Dallas-based fully integrated senior housing firm became a sponsor of Private Wealth Global, an investment platform focused on core-plus and value-add opportunities in the U.S. and Europe, particularly multifamily and health care. The move gives McFarlin access to investors in South America and […]