Senior living operators face short-term turbulence when it comes to property values across all care types, but that turbulence could be an opportunity for well-positioned buyers looking to expand their portfolios. Higher interest rates have made inking new deals prohibitive in the short-term, with operators and lenders needing to get even more creative than before […]
Financings JLL Arranges JV Equity for Virginia Project JLL Capital Markets announced that it arranged a joint venture for a senior living development project in Virginia. JLL worked on behalf of Centric Development LLC which is planning to build a 153,000 square-foot senior living community in Fredericksburg, Virginia that will include 106 assisted living units […]
Sales Blueprint Arranges Sale in Ohio Blueprint Healthcare Real Estate Advisors announced it arranged the sale of a senior living community in Ohio to a local owner-operator. The community – called Antwerp Manor – is a 52-unit assisted living community located in Antwerp Ohio that in 2007 was renovated into a senior living community after […]
Sales Atlas Senior Living Acquires Community in Mississippi Atlas Senior Living has acquired The Claiborne at Adelaide, a senior living community in Starkville, Mississippi. The community offers independent living, assisted living, and memory care services with a focus on providing personalized care and services. With the deal, the senior living operator’s footprint in has expanded […]
Transactions Eskaton Exits Skilled Nursing, Narrows Focus to Senior Services and Residential Living Eskaton announced its exit from the standalone skilled nursing sector with the sale of three skilled nursing communities that are not part of a larger residential living community in a deal valid north of $35 million, according to the Sacramento Business Journal. […]
Financings Oxford Finance Group Closed $867 Million Oxford Finance Group announced that its healthcare real estate group closed on $867 million worth of capital commitments in 2022 – a record for the Alexandria, Virginia-based company. Oxford Finance’s deals slanted heavily toward skilled nursing assets but also included an $81 million term loan and an $8.5 […]
Acquisitions National Church Residences Buys Near Atlanta National Church Residences announced it finalized the purchase of a senior living community located on a larger campus called Christian City in Union City, Georgia. The community — called Garden Terrace — adds 20 affordable senior living units to the National Church Residences portfolio and brings its total […]
The runway for distressed senior living properties is getting shorter. Some operators have seen a slow march toward pre-pandemic occupancy gains and as well as to greater margins in 2022. Others have faced stalling or declining occupancy and revenue, coupled with strong headwinds from increased labor and operating expenses. Banks and lenders gave operators a […]
Financings Brookdale Fefinances $220M Debt to September 2024 Brookdale (NYSE: BKD) announed it refinanced substantially all of its 2023 debt maturities, totaling $220 million, until its next maturity in September 2024. The debt has a variable interest rate of 2.45% over SOFT and is secured by priority mortgages on 24 of Brookdale’s 364 owned communities. […]
Financings Zeigler Closes $30M For Florida-Based Community Zeigler announed the successful closing of $30 million of Series 2022 Bonds for a Florida-based life plan community. The community — called Vicar’s Landing — will use these funds along with other funds to finance a portion of an ongoing expansion plan, fund a debt service reserve fund, […]
