Transactions & Financings: Healthpeak Selling Atria Property; Welltower Joins Renewable Energy Group

Healthpeak selling Kentucky property managed by Atria Senior Living Healthpeak Properties (NYSE: PEAK) agreed to sell Atria Blankenbaker, a personal care and independent living facility managed by Atria Senior Living, to Wickshire Senior Living, an operator based in Brentwood, Tennessee, Nashville Business Journal reports. Wickshire’s portfolio includes communities in Georgia, Ohio, Indiana and Wisconsin. The […]

Transactions & Financings: Brookdale’s $1B Mixed Shelf Filing; Fitch Revises Outlooks on 3 CCRCs

Fitch Ratings revises outlooks on 3 CCRCs Fitch ratings announced ratings outlooks updates on the following continuing care retirement communities: The ratings agency placed the series 2016 senior living revenue bonds issued by the Industrial Development Authority of the City of Glendale, Arizona on behalf of Royal Oaks Life Care Community, operating as Royal Oaks, […]

Transactions & Financings: Ensign Group Acquires Arizona Campus; Acts Sells Maryland Assisted Living Facility

Love Funding closes $16M in HUD financing Love Funding partnered with the Department of Housing and Urban Development (HUD) on two senior housing financing packages totaling $16.04 million. The firm’s parent company, Midland States Bank, was able to complete short-term bridge loans to secure funding. Highlights: A $3.14 million acquisition of Egida Hogar San Antonio, […]

Senior Living Distress Emerges, Smaller and Struggling Operators Hit First

In early March, five residents moved out of Rose Haven Assisted Living, a 28-bed assisted living facility in Merrimack, New Hampshire, right before the coronavirus pandemic swept across the U.S. The family-owned and operated facility already operated under tight margins. The loss of these residents — which were among the highest billed in Rose Haven’s […]

Transactions & Financings: Ziegler’s $240M Financing Deal Volume; Inspīr Carnegie Hill-Forbes Travel Guide Partnership

Ziegler completes 3 transactions totaling $240M Ziegler completed the following transactions: A Series 2020 Bond package totaling $199.4 million for Acts Life-Retirement Communities, consisting of $115.11 million in Series 2020 tax-exempt bonds and $84.3 million in 2020 taxable bonds. The tax-exempt bonds were issued through the Wisconsin Public Finance Authority, Palm Beach County (Florida) Health […]

Senior Living Deals Face ‘Real Issue with Debt,’ Longer Timelines, Stiffer Requirements

Senior housing capital markets remain unstable, four months after the coronavirus pandemic. But they are no longer in a state of “peak volatility.” Debt and equity lenders are returning to the space, but debt lenders in particular are slower to announce their presence, quick to retreat back to the sidelines, and are extremely cautious with […]

Transactions & Financings: ‘Big 3’ REITs in Fed’s Bond Buying Program; Ziegler’s $278M Deal Volume

Federal Reserve’s bond-buying program includes Welltower, Ventas, Healthpeak Welltower (NYSE: WELL), Ventas (NYSE: VTR) and Healthpeak Properties (NYSE: PEAK) are among the real estate investment trusts receiving funding as part of the Federal Reserve Bank of New York’s Secondary Market Corporate Credit Facility (SMCCF), The Real Deal reported. The program, established as part of the […]

Senior Housing Deal Underwriting Adapts as Market Passes Peak Volatility

Senior housing capital markets are beginning to show signs of stability, more than two months after the coronavirus pandemic sent the markets into a time of peak volatility. Investors — particularly private equity — are raising funds. Lending is slowly loosening. Temporary expenses such as hazard pay and personal protective equipment (PPE) are separated from […]

Transactions & Financings: LTC Completes $78M Preferred Care Sale; Juniper Communities’ $12.3M Refinancing

Bellwether Enterprise provides $36.3M financing for Kentucky Development Bellwether Enterprise Real Estate Capital Executive Vice President John Powell originated a $36.3 million permanent loan through Fannie Mae’s seniors housing program for the refinancing of Legacy Reserve at Fritz Farm, a senior housing community in Lexington, Kentucky featuring 144 independent living, 33 assisted living and 15 […]