Transactions & Financings: Columbia Pacific’s $136M India JV; CBRE Arranges $40M Financing Package

Columbia Pacific, Embassy Group to invest $136M in India Columbia Pacific Communities is partnering with Indian real estate developer, Embassy Group, to develop a pipeline of senior housing communities in major population hubs across India, Mint reports. The venture will invest ₹1,000 crore – $136.3 million in U.S. dollars – to develop a pipeline of […]

Senior Housing M&A Activity Down 44% Compared to 2019 Levels

The coronavirus pandemic is having a deleterious effect on senior housing and care M&A activity – especially when compared to a historic landscape a year ago when all buyers were in the space looking for opportunities. The third quarter of 2020 ended with 58 announced deals totaling $1.48 billion in transaction volume, according to acquisition […]

Transactions & Financings: Ziegler’s $123M Deal Volume; HJ Sims’ $135M Expansion Financing

Ziegler completes 3 financing packages totaling $123M Ziegler completed the following financing transactions totaling $122.9 million: Ziegler closed on $47.9 million in Series 2020AB bonds for Heritage Community of Kalamazoo, a life plan community in Kalamazoo, Michigan. Proceeds from the bonds are earmarked for an 60-unit expansion of the campus’ independent living segment, to be […]

Welltower Agrees to Sell 6 Northbridge Senior Housing Communities for $200M

In addition to promoting Shankh Mitra to CEO on Monday, Welltower (NYSE: WELL) announced its second nine-figure senior housing sale in the last week. The Toledo, Ohio-based health care real estate investment trust (REIT) is under contract to sell an 80% stake in a six-property, 507-unit portfolio in Massachusetts for $200 million. That represents a […]

PGIM Real Estate Provides $460M Loan As Part Of Merrill Gardens Portfolio Acquisition

PGIM Real Estate provided a $460 million loan to help fund the acquisition and recapitalization of a 10-property senior living portfolio operated by Seattle-based Merrill Gardens. The announcement of this financing, made on Thursday by PGIM Real Estate, sheds further light on this deal. Previously, local news sources reported that certain communities had changed ownership, […]

Transactions & Financings: Sienna’s $175M Debt Offering; KeyBank’s $38M Financing

Greystone provides $13.9M financing for Washington senior housing property Greystone provided a $13.9 million HUD-insured loan to refinance The Savoy at Lake City Senior Living, an 80-unit seniors housing property in Seattle. The transaction was originated by Managing Director Shana Daby and Relationship Manager Lorie Hanson, on behalf of Lake City Project Associates. The non-recourse […]

Welltower Reportedly Sells Merrill Gardens Portfolio for About $700 Million

Recent local news reports suggest that Toledo, Ohio-based real estate investment trust Welltower (NYSE: WELL) has sold its stake in all 10 communities in its senior housing operating portfolio operated by Seattle-based Merrill Gardens. Public records in Santa Clara County, California, show that Welltower recently sold a Merrill Gardens community located in San Jose and […]

Transactions & Financings: Maxwell Group’s $37M Financing; 2 New York Assisted Living Communities Trade Hands

Masterpiece Living and 3 AgeWell Living communities form strategic partnership Masterpiece Living partnered with three communities operated by AgeWell Living: The Crossings at Eastchase in Montgomery, Alabama; The Crossings at Iron Bridge in Chester, Virginia; and The Chamberlain in Hampton, Virginia. Cushman & Wakefield advises on $37.1M financing for South Carolina assisted living community Cushman […]

Transactions & Financings: Brookdale Closes $250M Credit Facility; Lancaster Pollard’s $58M Deal Volume

Brookdale terminates $250M credit facility; refinances assets Brookdale Senior Living (NYSE: BKD) secured $267 million of non-recourse mortgage debt and terminated its $250 million revolving credit facility. The debt was obtained from Capital One, through Freddie Mac’s Capital Markets Execution Program. The financing includes $191 million of 2.89% fixed rate notes and $76 million of […]