Transactions & Financings: Covid-19 Market Instability Halts About $325M in Acquisitions

Columbia Pacific-Singapore Press Holdings Canadian portfolio deal Columbia Pacific Advisors and Singapore Press Holdings mutually agreed to terminate a previously announced sale of a six-property, 717-unit Canadian senior housing portfolio due to global market instability stemming from the Covid-19 pandemic. The acquisition price was about $175 million, Deal Street Asia reported Wednesday. Singapore Press Holdings […]

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: Dominium’s $52M Loan; OneDay Closes Funding Round

Dominium secures $52M for Arizona community Plymouth, Minnesota-based affordable housing developer Dominium secured a $51.7 million construction and permanent financing package for Solstice of Mesa, a 237-unit 55-and-over affordable senior community in Mesa, Arizona. KeyBank provided the loan using its Private Placement Program. Dominium will manage the property when it is completed in summer 2021. […]

Middle-Market Plays to Reshape Senior Living Acquisition Activity, Prices

Robust senior housing acquisition activity is likely to continue into 2020, driven by the continued low interest rate environment as well as the increased focus on middle-market products and the creation of multi-brand portfolios. That middle-market focus is also driving more interest from big players in secondary and tertiary markets, which are friendlier to this […]

Historic Moment for Senior Housing M&A with All Buyers in the Game

Investor appetite for senior housing has grown to levels that industry finance experts say is unprecedented, in terms of the variety of buyers seeking transactions. What makes this investor landscape historic is no group is sitting on the sidelines, senior living finance and transactions professionals told Senior Housing News. “The buyers market is hitting on […]

Transactions & Financings: Senior Housing Management Expands Operations; Ensign Acquires in California

JLL advises Welltower on $1.8B Benchmark portfolio sale JLL (NYSE: JLL) represented Welltower (NYSE: WELL) in the Toledo, Ohio-based REIT’s $1.8 billion disposition of 48 properties operated by Waltham, Massachusetts-based Benchmark Senior Living, to an unnamed buyer. The 4,137-unit portfolio consists of 48 assisted living properties located in Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island […]

Rising Interest Rates, Valuations Could Shorten Senior Housing Investment Runway

With active adult gaining popularity among investors as a property type, no slowdown in M&A activity and a more educated investor pool, senior housing capital markets maintained a robust performance in 2018. These factors are pushing asset valuations higher and spurring more lending. But industry experts at last week’s National Investment Center for Seniors Housing […]

Transactions & Financings: New Senior’s $720M Refinancing, American House Enters Ohio

New Senior Closes $720 Million Refinancing New Senior Investment Group completed the refinancing of a $720 million secured loan from with Freddie Mac arranged through KeyBank Real Estate Capital. The loan has a seven-year term and bears interest at LIBOR plus 232 basis points, an improvement of approximately 170 basis points, or $12 million annually, versus […]

Movers & Shakers: Lifespace Communities’ New Senior VP of Business Development

Lifespace Communities Appoints Senior VP of Business Development Lifespace Communities, one of the nation’s largest not-for-profit senior living providers, hired Joe Anderson as senior vice president of business development. In the role, Anderson will drive the Des Moines, Iowa-based company’s growth through mergers and acquisitions. He comes to the role with almost 30 years of […]