Transactions & Financings: Cushman & Wakefield Brokers PGIM-Revera JV; HumanGood Affiliates with Washington Provider

Earlier this month, PGIM Real Estate and Revera Communities affiliate Signature Senior Lifestyle announced a joint venture to develop and manage senior housing communities in the United Kingdom, focusing on submarkets in the greater London area with strong demographic demand. Earlier this week, global real estate services firm Cushman & Wakefield (NYSE: CWK) announced that […]

Transactions & Financings: Charter Health Care Acquires Hospice Provider; Standard Communities’ $68M Senior Apartment Deal

Charter Health Care Group is expanding its post-acute care platform. The Cucamonga, California-based provider acquired The Providence Hospice and The Providence Home Health Services, a Houston-based in-home health care provider. Financial terms of the transaction were not disclosed. This is now Charter’s sixth acquisition since early 2020, now serving 4,500 patients in seven states. Charter […]

Senior Housing M&A Dropped 39% Between 4Q20 and 1Q21

The number of publicly announced senior housing transactions fell sharply this year, and the pandemic is the big reason why. There were just 77 such deals in the first quarter of 2021, according to new acquisition data from Irving Levin Associates. That’s 39% lower than the 127 transactions recorded in the fourth quarter of 2020, […]

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 […]

Front Porch CEO: With Covia Affiliation, We Are Prepared For Rapid Change in Senior Living

Senior living providers Front Porch and Covia are officially affiliated, the organizations announced Thursday. The combination creates a nonprofit with 54 communities across four states, serving about 7,500 residents and more than 6,000 participants in programs and services. Front Porch and Covia first announced their intention to affiliate in June 2020. The merger adds Covia’s […]

Innovation Senior Living Plans Middle-Market Pipeline Under ‘Ascend’ Brand

Innovation Senior Living was pursuing a strategy of targeting the overlooked adult day market, but with those services on hold due to the Covid-19 pandemic, the company is turning its attention to acquisitions and growth. Currently, the operator manages five senior living communities, mostly for other owners. But Miami Beach, Florida-based Innovation plans to acquire […]

Transactions & Financings: Focus’ $165M Portfolio Acquisition; Sabra’s $29M Transaction

Focus Healthcare Partners is adding more independent living to its senior housing portfolio. The Chicago-based health care real estate investor acquired four independent living communities in the metro Atlanta market, totaling 559 units, for $164.5 million. The communities are operated by Edmond, Oklahoma-based owner and provider, Mansions Senior Living. Focus purchased the portfolio through its […]

Transactions & Financings: NIC Acquires VisionLTC Data Platform; Atlas Expands Footprint

The National Investment Center for Seniors Housing & Care (NIC) is strengthening its data analytics platform. The industry group this week announced the acquisition of VisionLTC, a data analytics platform based in Raleigh, North Carolina. The platform will be integrated into the group’s NIC MAP data service to create a new platform, NIC MAP Vision. […]

Rise of Regionals: Mid-Sized Senior Living Providers Gain Scale Amid Pandemic

As Covid-related distress has hit senior living, particularly for mom-and-pop operators, some providers with regional portfolios are seizing the opportunity to expand in 2021 and beyond. While regional operators weren’t seen as a big driver of consolidation in previous years, some brokers now expect them to be a driving force in acquisitions this year. In […]

Anatomy of a Deal: How Merrill Gardens, AEW Capital, PGIM Completed $700M Acquisition

In the midst of the Covid-19 pandemic last year, Welltower (NYSE: WELL) sold its stake in all 10 Merrill Gardens communities in its senior housing operating portfolio. The Seattle-based owner-operator, and its partner, AEW Capital Management, purchased the portfolio for $700 million. The transaction was brokered by Newmark’s Healthcare & Alternative Real Estate Assets team, […]