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 […]
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 […]
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 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 […]
Movers & Shakers is brought to you by the Senior Housing News Job Board. Browse and apply to management and executive senior living jobs and positions from leading professional firms serving the industry. Employers can post single jobs, purchase job packages or our premium subscription that includes unlimited job posts and editorial coverage for one […]
Movers & Shakers is brought to you by the Senior Housing News Job Board. Browse and apply to management and executive senior living jobs and positions from leading professional firms serving the industry. Employers can post single jobs, purchase job packages or our premium subscription that includes unlimited job posts and editorial coverage for one […]
AllyAlign Health closes $10M funding round AllyAlign Health, a developer and administrator of Medicare Advantage (MA) special needs plans benefiting long-term care providers, closed a $10 million strategic funding round, led by McKesson Ventures, as the Richmond, Virginia-based firm looks to expand. And senior living is in its sights, AllyAlign President President Amy Kaszak told […]
HJ Sims arranges $92 million bond financing package for Lutheran Senior Services HJ Sims completed a $92.4 million refinancing package for Lutheran Senior Services (LSS). The proceeds will fund an expansion to LSS’ Mason Pointe community in Chesterton, Missouri, as well additional planned capital improvements at other communities within its portfolio. HJ Sims identified bonds […]
The Spires at Berry College closes $120 million bond financing package The Spires at Berry College closed a $119.7 million bond financing deal, which will be used to fund the entirety of construction costs for the life plan community on the campus of Rome, Georgia-based Berry College. The tax-exempt bonds include $81.9 million underwritten by […]
New Senior Retires $125 Million Of Mortgage Debt New Senior Investment Group (NYSE: SNR) paid off $125 million of mortgage debt with a combination of cash on hand and the proceeds from a new revolving credit facility secured by eight private pay senior housing facilities. This transaction lowers New Senior’s leverage and interest expense. Borrowings […]
