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 […]
Category: Finance & Development
Recent local news reports suggest that Toledo, Ohio-based real estate investment trust Welltower (NYSE: WELL) has sold its stake in all 10 communities in its senior housing operating portfolio operated by Seattle-based Merrill Gardens. Public records in Santa Clara County, California, show that Welltower recently sold a Merrill Gardens community located in San Jose and […]
Senior housing operators and owners seeking financing at higher loan-to-value ratios are likely to find favorable terms with alternative lenders and finance companies, as banks remain disciplined with their underwriting during the coronavirus pandemic. And among care segments, lending spread differentials between majority assisted living and memory care communities, and skilled nursing facilities, are remarkably […]
Senior living capital markets are stabilizing, six months after the coronavirus pandemic forced lenders to the sidelines and created an environment of “peak volatility.” Lenders returning to the space are chasing core deals, while value-add deals are harder to complete. But a historically low interest rate environment, coupled with stabilizing expenses, may help facilitate value-add […]
A majority of senior living professionals believe that the Covid-19 pandemic will result in permanently higher operating expenses. That’s according to the 2020 Seniors Housing Investor Sentiment Survey from National Real Estate Investor and the National Center for Seniors Housing & Care (NIC). This year’s survey garnered responses from 167 participants from a range of […]
Healthpeak Properties (NYSE: PEAK) offered its strongest indication to date that it is looking to trim from its senior housing operating portfolio (SHOP) and triple-net senior housing segments in order to maintain its status as a blue-chip real estate investment trust. Leadership has entertained inquiries in recent weeks from private equity firms interested in buying […]
Masterpiece Living and 3 AgeWell Living communities form strategic partnership Masterpiece Living partnered with three communities operated by AgeWell Living: The Crossings at Eastchase in Montgomery, Alabama; The Crossings at Iron Bridge in Chester, Virginia; and The Chamberlain in Hampton, Virginia. Cushman & Wakefield advises on $37.1M financing for South Carolina assisted living community Cushman […]
Greystar Real Estate Partners has become one of the foremost names in the fast-growing active adult rental sector in recent years, and now the development and management company is expanding in new directions with the launch of its more moderately priced Album brand. Charleston, South Carolina-based Greystar is the largest U.S. operator of multifamily apartments […]
Brookdale Senior Living (NYSE: BKD) made another move to shore up its financial position during the coronavirus pandemic. The Brentwood, Tennessee-based owner and operator on Thursday announced it obtained a 10-year, $221 million refinancing package for the majority of its outstanding 2020 and 2021 debt maturities. The refinancing was provided by Newmark Knight Frank (Nasdaq: […]
Senior housing investors should be considering how their potential returns will be affected by the timing of a Covid-19 vaccine. The good news is that even if a vaccine is not widely available until a year from now, and the financial performance of communities deteriorates until then, senior living still remains an attractive investment due […]