Transactions Ballard Spahr, Lane Powell combine Firms Ballard Spahr and Lane Powell agreed to a combination effective Jan. 1, 2025. According to a press release, the combined firm will be called Ballard Spahr and have more than 750 attorneys in 18 states. The combination allows Ballard Spahr to expand its footprint into the Pacific Northwest, […]
Evans Senior Investments
Financings CBRE refinances for joint venture CBRE National Senior Housing announced it arranged a refinancing for Outlook Gwinnett on behalf of a joint venture between Capitol Seniors Housing and Bain Capital Real Estate. According to a press release, the loan originated from a debt fund and allows the community to “complete lease-up in a dynamic […]
Management LCS expands partnership with Longview Senior Housing Life Care Services announced on Aug. 1 that it has expanded its partnership with Longview Senior Housing after being selected as the management partner for three more Longview properties. According to a press release, the communities include The Emerson at St. Peters, Bellingham at West Chester and […]
The runway for distressed senior living properties is getting shorter. Some operators have seen a slow march toward pre-pandemic occupancy gains and as well as to greater margins in 2022. Others have faced stalling or declining occupancy and revenue, coupled with strong headwinds from increased labor and operating expenses. Banks and lenders gave operators a […]
Sales ESI Arranges Sale of Colorado Community Evans Senior Investments announced it has successfully arranged the sale of The Kipling Meadows in Aurora, Colorado. Kipling Meadows is a 120-unit independent living community that averaged 86% occupancy in the three months prior to the sale and was producing cash flow. ESI, which represented the seller, a […]
Discovery Senior Living and White Oak Healthcare REIT have acquired a 10-building portfolio, which will be operated by Discovery as part of the provider’s strategy of expanding through the creation of largely independent regional management companies. The sale, coming in at more than $100 million, includes communities in Louisiana, Mississippi and South Carolina and contains […]
The District of New Hampshire U.S. Bankruptcy Court approved Covenant Living’s purchase of Hillside Village Keene, a continuing care retirement community in Keene, New Hampshire. Hillside Village becomes the 15th CCRC that Covenant — a Skokie, Illinois-based nonprofit — owns and operates. Following significant occupancy challenges due to the Covid pandemic, Hillside ultimately filed for […]
Berkadia and Solera Senior Living announced the acquisition of the Edgeworth Park at New Town assisted living and memory care community in early November. Berkadia announced the deal on behalf of Connecticut-based Wheelock Street Capital from sellers Jon Liebler, Derek Robertson, and Scott Wise. Solera will partner with Wheelock Street Capital and serve as the […]
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 […]
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 […]
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