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 […]

Nonprofit Affiliations Accelerate, National Senior Campuses Tops Largest Providers List

The trend of nonprofit senior housing affiliations snowballed in 2019, and smaller providers now are more motivated than ever to initiate discussions with larger groups. And, more nonprofit providers are diversifying their service lines in order to provide care to seniors off campus. These trends are on display in the 17th annual LZ 200 list […]

Senior Housing Capital Markets Update: Bid-Ask Gap on Deals, Bridge Debt Lacking

A gap between asking prices and bids is emerging in senior housing valuations, as the mergers and acquisition landscape begins to stabilize. Capital markets, meanwhile, continue to struggle with imbalance due to tighter loan underwriting and a lack of bridge debt. Signs of growing distress among smaller and struggling operators are contributing to the pricing […]

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 […]