New Owner/Operator Cedar Communities Ramps Up Dealmaking, Aims to Double Size in 2020

Cedar Communities, a recently formed senior living private equity firm and operating company, has been busy. Since July, Cedar has acquired five communities, providing momentum for further growth in 2020. Cedar was founded a little over two years ago and is building a portfolio of “boutique-sized” facilities in the U.S. Southeast, co-founder and Managing Director […]

Transactions & Financings: Welltower’s $850M JV; Acts Acquires New Corporate HQ

Welltower, Invesco Announce $850M Joint Venture Welltower Inc. (NYSE: WELL) and global real estate manger Invesco Real Estate (“Invesco”) announced an $850 million joint venture partnership comprising a portfolio of 35 medical office buildings spanning 2.6 million square feet. The portfolio was previously wholly owned by Welltower. The properties are 100% affiliated with health systems […]

Senior Housing, Multifamily Developers Vie for Control of Active Adult

As interest in the active adult apartment rental product rises, it is becoming something of a no-man’s-land, with both senior housing operators and multifamily developers attempting to stake their claim to the lucrative, promising space. According to new data and a new report from Senior Housing News, senior housing operators have no question as to […]

Transactions & Financings: Prime Care’s $285M Refinancing; $95M Single-Site Sale

Prime Care refinances 13-property portfolio for $285M Prime Care Properties secured a $285 million refinancing package for its portfolio of 13 senior housing properties in Connecticut, Florida, Georgia, Maryland, New Jersey, North Carolina and Tennessee. The total portfolio consists of 1,081 assisted living, 301 memory care, and 85 skilled nursing units. Capital One closed on […]

CEO’s ‘Worry List’ Shrinks as NHI Operators Make Progress

National Health Investors (NYSE: NHI) President and CEO Eric Mendelsohn’s “worry list” is shorter now than it was this time last year thanks to progress made by several of its senior housing partners. The Murfreesboro, Tennessee-based health care real estate trust (REIT) saw a steady third quarter this year despite softening occupancy and rising wage […]

Brookdale Targets 7% NOI Growth Through 2024, Labor Costs an Immediate Concern

Better supply-demand dynamics helped Brookdale Senior Living (NYSE: BKD) turn its recent occupancy trends positive — and the company is betting that these conditions will persist into the years ahead, leading it to release a five-year outlook. However, the immediate picture is still mixed. The nation’s largest senior living provider was hit by high labor […]

Senior Housing Deals Take Longer to Close, Construction Timelines Lag

The senior housing development landscape is still strong, but many deals are taking longer to close and buildings are taking longer to fill up. Labor shortages are a primary culprit. “We’re seeing a lot of projects being pushed,” said Douglas Kimes, senior vice president/national director of healthcare for TCF Commercial Banking. He spoke Tuesday at […]