Senior Housing Value-Add Opportunities May Total $5B, Could Grow

One year ago, senior housing mergers and acquisitions activity came to a screeching halt as a result of Covid-19. But there are signs that the M&A landscape will experience a strong rebound in 2021, and the rebound will be spearheaded by a wide range of buyers seeking value-add opportunities as well as stabilized assets. Mergers […]

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 […]

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 […]

Transactions & Financings: PGIM’s $222M Financing for Aegis; Healthpeak Prices $1.45B in Notes

Earlier this month, Aegis Living and its joint venture partner, Blue Moon Capital Partners, acquired 10 assisted living and memory care communities from Healthpeak Properties (NYSE: PEAK) for about $350 million. The deal was facilitated in part by a $222 million Fannie Mae credit facility arranged by PGIM Real Estate. The 10-year interest-only loan is […]

In the Pipeline: Avenida Plans Project Near Nashville; Community Opens at Arizona State University

In the Pipeline is brought to you by the Senior Housing News Architecture & Design Awards, an annual competition that recognizes cutting-edge design, excellence, and innovation in senior living. View this year’s winning entries here. Planned Avenida Plans Active Adult Project Near Nashville Avenida Partners is planning a new active adult community in Hendersonville, Tennessee. […]

Transactions & Financings: HJ Sims’ $111M Deal Volume; Chicago Pacific Founders’ Florida Acquisition

Sales and operator transitions Elevation Financial Group acquires Massachusetts assisted living community for $4M Elevation Financial Group acquired Wingate Residences at Brewster Place, an assisted living facility in Brewster, Massachusetts. The purchase price was $4 million and facilitated through Elevation Real Property Fund VII. The community ceased operations in 2019. Elevation plans to reposition the […]

Transactions & Financings: Capital Senior Living Sells Ohio Community; NHI’s $22M Development Loan

Sales and operator transitions Capital Senior Living completes $18M sale of Ohio community Capital Senior Living (NYSE: CSU) completed the sale of a senior living community in Canton, Ohio. The sale price was $18 million, and provided $6.4 million in net cash proceeds to the operator. Additionally, Capital Senior Living was retained by the new […]

Transactions & Financings: Ziegler’s $184M Financing Deal Volume, Commonwealth Senior Living Acquires Virginia Community

Sales and operator transitions Commonwealth Senior Living acquires Virginia assisted living facility Commonwealth Senior Living acquired Cedar Manor Assisted Living, an assisted living facility in Chesapeake, Virginia including 60 assisted living beds and 12 memory care beds. The community will be rebranded as Commonwealth Senior Living at Cedar Manor. Immediately after the holiday season, the […]

Inside the $200 Million Senior Living Highrise Reshaping Norfolk’s Skyline

While highrise senior living projects are grabbing headlines in major metropolitan areas such as New York City and Washington, D.C., the trend is also playing out in smaller cities around the country. One case in point is a 24-story continuing care retirement community (CCRC) expansion that recently topped out in Norfolk, becoming the tallest residential […]

Transactions & Financings: Ziegler Closes on $125M HumanGood Package; Diversified Completes $53M Sale

Sales and operator transitions Diversified Healthcare Trust completes 4-property, $53M sale Diversified Healthcare Trust (Nasdaq: DHC) completed a previously announced sale of four properties for a combined $43 million. The disposition includes three senior living communities with a combined 239 units located in Washington and Montana for $46 million. These sales were part of a […]