Transactions & Financings: Brookdale’s $160M Credit Facility; Westmont Living’s $58M Acquisition

The NIC Fall Conference is underway in Chicago and the deals are flowing like wine. Here are some recent transactions. Brookdale secures $160M credit facility Brookdale Senior Living (NYSE: BKD) secured a $160.3 million credit facility for a five-community, 945-unit portfolio in Alabama, Michigan, Pennsylvania and Texas. Brookdale has owned and operated the portfolio for […]

Why the Time is Right for Bolder Adult Day Programs in Senior Living

Bold new models of adult day services are beginning to enter the market, and senior living providers would be wise to take note. Their standard adult day offerings may lose luster in the face of these new options, but providers also may be ideally positioned to take advantage of a growing market opportunity. While many […]

Transactions & Financings: Sun Communities’ $343M Mobile Home Deal; SHAG’s Opportunity Zone Development

Sun Communities agrees to $343.6M mobile home portfolio deal Mobile home and recreational community real estate investment trust Sun Communities (NYSE: SUI) entered into an agreement to acquire an eight state, 31-community portfolio through a merger with Jensen Communities, for $343.6 million. The portfolio comprises of 5,230 developed sites and over 460 additional expansion sites […]

Old Psych Hospitals Are Becoming Vibrant Mixed-Use Sites with Senior Living

As developers seek to adapt offices, hotels, schools and commercial buildings into senior housing projects, one unlikely property type holds newfound appeal: former psychiatric hospitals. Across the U.S., a handful of senior living providers have opened or are building communities in mixed-use sites that once held asylums or similar institutions. Examples include Cordia at Grand […]

Second Act Financial Aims to Reinvent Retirement Banking, Targets Senior Living

Older adults are not well-served by today’s retail banks, entrepreneur and former senior living executive Elias Papasavvas believes. He’s out to change that with his new venture, Second Act Financial Services — including by offering more attractive financing to help people move into senior living communities. Second Act had its soft launch on Tuesday. It […]

Developer Taps Opportunity Zone Funds for ‘Hampton Inn of Assisted Living’ Pipeline

A senior living development firm has outlined a plan for new middle-market rental communities in the Tri-State Area of New York, New Jersey, and Connecticut, and perhaps beyond. Fairfield, Connecticut-based Senior Living Development’s new middle-market model calls for five-story, 60,000-square-foot communities with 120 beds for assisted living and memory care. Currently, the company has three […]

From Afterthought to Main Event: Why Senior Living is Going Bigger, Bolder on Outdoor Spaces

Senior living providers across the U.S. are reimagining the traditional outdoor amenity space — and in the process, sometimes shifting away from the typical real estate formula for maximizing investor returns. But there may be good reason for doing so. While outdoor amenity spaces don’t generate revenue like an occupied unit, they deserve much more […]

Transactions & Financings: White Oak’s 4-Property Portfolio Acquisition; Arbor Company’s $90M Credit Facility

White Oak acquires 4 property senior housing portfolio White Oak Healthcare REIT completed the acquisition of a four community, 482-bed senior housing portfolio which included two communities in Arkansas, one in Florida and one in Pennsylvania. The seller was Baltimore-based Capital Health Group (CHG), which retains a minority stake in the portfolio, completed renovations to […]