Transactions & Financings: Midwest Health’s $84M Refinancing; MBK Acquires California Community

KeyBank secures $84M financing for 11-property Midwest Health portfolio. A KeyBank Real Estate Capital team led by Vice President Lee Delaveris secured an $84 financing package through Fannie Mae for an 11-property portfolio consisting of independent living and assisted living facilities owned and operated by Midwest Health. The portfolio comprises 584 units with properties located […]

Transactions & Financings: Related Cos. JV Lands $276M; New Senior Completes $385M Portfolio Sale

New Senior completes $385M AL/MC Portfolio sale New Senior Investment Group (NYSE: SNR) completed the $385 million sale of its entire assisted living and memory care portfolio for a gross sale price of $385 million (the “Transaction”). Proceeds from the transaction, which was first announced last November, were used to reduce debt by approximately $360 […]

Transactions & Financings: Asbury Communities’ $96M Bond Refinancing; LTC’s AL Acquisitions

HJ Sims closes $96M financing package for Asbury Communities HJ Sims closed on a $96.12 million bond refinancing for Asbury Communities’ senior housing communities in Pennsylvania: Bethany Village in Mechanicsburg; and Springhill in Erie. Sims assisted Asbury the communities’ outstanding Series 2010 Bonds on their first optional redemption date of January 1. Sims successfully priced […]

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). […]

Transactions & Financings: Welltower’s $850M JV; Acts Acquires New Corporate HQ

Welltower, Invesco Announce $850M Joint Venture Welltower Inc. (NYSE: WELL) and global real estate manger Invesco Real Estate (“Invesco”) announced an $850 million joint venture partnership comprising a portfolio of 35 medical office buildings spanning 2.6 million square feet. The portfolio was previously wholly owned by Welltower. The properties are 100% affiliated with health systems […]

[White Paper] Extending Capital Further: 3 Types of Bridge Financing

Senior housing is now considered an institutional-grade asset class for real estate investors, and continues to grow as a top prospect among investment providers. While common equity and senior debt is generally available, there is often a gap in the capital structure that can be filled by subordinate, or “bridge,” financing — of which there […]

Transactions & Financings: Ensign Group Completes Pennant Spinoff; GlynnDevins Acquires Consulting Firm

Ensign Group senior housing spinoff complete The Ensign Group (Nasdaq: ENSG) completed its spinoff of The Pennant Group (Nasdaq: PNTG), its unit for senior living, home health and hospice properties. The Mission Viejo-based company first announced the spinoff in May. Ensign stockholders received one share of Pennant common stock for every two shares of Ensign […]

Transactions & Financings: Sun Communities’ $343M Mobile Home Deal; SHAG’s Opportunity Zone Development

Sun Communities agrees to $343.6M mobile home portfolio deal Mobile home and recreational community real estate investment trust Sun Communities (NYSE: SUI) entered into an agreement to acquire an eight state, 31-community portfolio through a merger with Jensen Communities, for $343.6 million. The portfolio comprises of 5,230 developed sites and over 460 additional expansion sites […]

Pegasus Senior Living Expands Portfolio With Omega Communities Partnership

Pegasus Senior Living has agreed to manage four properties developed by Omega Communities, expanding its portfolio for the first time since taking over operations for 36 former Brookdale Senior Living (NYSE: BKD) buildings last year. Birmingham, Alabama-based Omega is a for-profit company that develops senior living communities in affinity relationships with churches. The four properties […]