Rise of Regionals: Mid-Sized Senior Living Providers Gain Scale Amid Pandemic

As Covid-related distress has hit senior living, particularly for mom-and-pop operators, some providers with regional portfolios are seizing the opportunity to expand in 2021 and beyond. While regional operators weren’t seen as a big driver of consolidation in previous years, some brokers now expect them to be a driving force in acquisitions this year. In […]

Transactions & Financings: Pennant Group Expands Credit Facility; Springpoint’s $115M Refinancing

The Pennant Group (Nasdaq: PNTG) gave itself more financial flexibility a year into the coronavirus pandemic. The Eagle, Idaho-based company amended its revolving credit facility to $150 million, of which only $18.3 million was drawn as of February 22. Coupled with strong cash flow, expands Pennant’s ability to opportunistically target senior housing, home health and […]

Evans Senior Investments, Carnegie Capital Launch Brokerage JV for Senior Housing

Evans Senior Investments (ESI) and Carnegie Capital on Monday announced a joint venture aimed at expanding business solutions for clients in the senior housing capital markets and acquisitions landscape still disrupted by the coronavirus pandemic. The venture gives ESI, a sell-side brokerage with offices in Chicago and Denver, access to a wider range of lenders […]

Transactions & Financings: Brookdale Turns Over Operations of 4 Communities; JLL Completes $19M Sale

Brookdale Senior Living (NYSE: BKD) is making progress on its ongoing portfolio optimization initiative. The largest senior housing provider in the U.S. recently exited management arrangements on four communities in California. Dallas-based Pegasus Senior Living assumed management of two communities in suburban Sacramento, which were rebranded as Elk Grove Park, in Elk Grove; and Sterling […]

Transactions & Financings: Healthpeak’s $600M Senior Note Offering; Resort Lifestyle Communities $36M Construction Loan

Healthpeak Prices $600M in Unsecured Senior Notes Healthpeak Properties (NYSE: PEAK) announced a public offering of $600 million aggregate principal amount of 2.875% senior unsecured notes due 2031. The price to investors was 99.125% of the principal amount of the notes. Healthpeak plans to use the net proceeds from the offering to fund the redemption […]

Transactions & Financings: Welltower, Healthpeak Reportedly Sell South Florida Communities at Steep Discounts

Welltower sells Florida assisted living facility for $56M Welltower (NYSE: WELL) sold Aston Gardens Assisted Living in Parkland, Florida for $55.7 million, The Real Deal Miami reports. The buyer was Kayne Anderson Capital Advisors. the property is operated by Discovery Senior Living. The property sold for $78 million in 2015. The latest sale marks a […]

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 […]

Transactions & Financings: ORIX-Hunt Real Estate Capital Merger; Diversified’s $103M Portfolio Sale

ORIX USA acquires Hunt Real Estate Capital ORIX Corporation USA completed its acquisition of Hunt Real Estate Capital, creating a commercial real estate finance platform with annual loan production in excess of $9 billion and a servicing portfolio of more than $40 billion. ORIX will combine Hunt into its existing brands, Lancaster Pollard and RED […]

Transactions & Financings: Five Star Restructuring Complete; HJ Sims Arranges $219M Construction Financing

Cindat, Omega partner on $232M UK portfolio deal Chinese investment firm Cindat Capital Management entered into a joint venture with health care real estate investment trust, Omega Healthcare Investors (NYSE: OHI), on a 49% stake in a 67-property senior housing portfolio in the United Kingdom from Irvine, California-based health care REIT, Healthpeak Properties (NYSE: PEAK). […]