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 […]
Evans Senior Investments
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 […]
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 […]
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 […]
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 […]
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 […]
The senior housing mergers and acquisitions market continued to hum along as the first cases appeared in communities, and even if a temporary slowdown occurs as the crisis deepens, dealmaking could surge dramatically when the pandemic wanes. “We may see deals get delayed if a lender decides to sit tight and wait, but I truly […]
Subscribe
Receive industry updates and breaking news from SHN