Transactions and Financings: Ziegler Closes on $68.5M for Acts Retirement-Life Communities; Brookdale Secures $179.5M Refinancing

Financings JLL Capital Markets leads $179.5M financing for Brookdale JLL Capital Markets announced on Jan. 9 that it closed on a seven-year fixed rate loan of $179.5 million on behalf of Brookdale. According to a press release, the loan was done through Fannie Mae, and the proceeds were used to refinance a seven-year tranche of […]

Transactions and Financings: IRA Capital Acquires 140-Unit Community; Ziegler Closes on $76.9M Bond Series for LPC 

Acquisitions IRA Capital acquires $41M, 140-unit community IRA Capital, a private equity firm, announced that on Dec. 21 it had acquired the 140-unit San Clemente Villas by the Sea. According to a press release, the acquisition cost $41 million, and IRA Capital plans to invest additional capital to “elevate the senior living experience” at the […]

Senior Living Industry Could Fall Short of Projected Demand at Current Construction Rates

The senior living industry could be in need of over 200,000 new units by 2025, a figure that at current construction rates, remains out of reach presently.  That projection comes from a recent article by the National Investment Center for Seniors Housing and Care (NIC) that highlights the impending gap between new development and impending […]

Why to Expect More Deals Like the RUI, Brandywine Combination

This article is available as part of your SHN+ membership While the end of the year is typically quiet for senior living industry news, one big move caught my eye as 2023 wound down. On Dec. 20, Retirement Unlimited (RUI) announced it is acquiring Brandywine Living, a deal that is set to create an operator […]

Troubled New York CCRC Set to Change Hands After Bankruptcy 

A continuing care retirement community (CCRC) with a history of financial woes is slated to change hands, with senior living company LCS poised to buy it. The community, known as Harborside and previously Amsterdam at Harborside, in March filed for bankruptcy for the third time in nine years, with LCS winning a five-day auction worth […]

Transactions and Financings: Mainstay Buys 3 Communities, New Ciel Senior Living Management Agreement

Management Ciel assumes management of HarborChase of Princeton, rebrands Ciel Senior Living announced it has assumed management of HarborChase of Princeton. Now rebranded to Ciel of Princeton, the 120-unit assisted living and memory care community is located in Monmouth Junction, New Jersey and the second Ciel Senior Living has taken under management since July 2023. […]

Why Health Care, Senior Living Investors Should be ‘Cautiously Optimistic’ for 2024

While macroeconomic trends have dampened senior living deal activity in 2023, those involved in health services transactions should remain “cautiously optimistic” for 2024, according to PricewaterhouseCoopers International Limited (PwC).  By mid-November, health service deal volumes dropped 13% compared to last year as interest rates, regulatory concerns, macroeconomic risk and valuation gaps drove headwinds throughout the […]

Transactions and Financings: Unlock Health Acquires SPM Group; JLL Capital Markets Secures $35M for Upcoming Community

Acquisitions Unlock Health acquires SPM Group Unlock Health, a healthcare and technology and services growth platform, announced it has acquired SPM Group, a network of health and healthcare agencies. Among the agencies included in SPM Group are SPM, GLC, Dreamscape and Centretek from Corridor Capital, LLC. Financial terms of the transaction are not available at […]

Transactions and Financings: 2Life Communities Issued $17.8 Million Bond; CBRE Arranges Sale, Financing of 225-Unit Community 

Financings 2Life Communities issued $17.8 million bond MassDevelopment has issued a $17.8 million tax-exempt bond to 2Life Communities to demolish a vacant former rest home and build a new rental housing facility for seniors. The existing building, The Leland Home, was built in 1891 and was operated until it closed in 2020. The new building, […]