Transactions & Financings: PGIM’s $222M Financing for Aegis; Healthpeak Prices $1.45B in Notes

Earlier this month, Aegis Living and its joint venture partner, Blue Moon Capital Partners, acquired 10 assisted living and memory care communities from Healthpeak Properties (NYSE: PEAK) for about $350 million. The deal was facilitated in part by a $222 million Fannie Mae credit facility arranged by PGIM Real Estate. The 10-year interest-only loan is […]

Transactions & Financings: Ziegler’s $184M Financing Deal Volume, Commonwealth Senior Living Acquires Virginia Community

Sales and operator transitions Commonwealth Senior Living acquires Virginia assisted living facility Commonwealth Senior Living acquired Cedar Manor Assisted Living, an assisted living facility in Chesapeake, Virginia including 60 assisted living beds and 12 memory care beds. The community will be rebranded as Commonwealth Senior Living at Cedar Manor. Immediately after the holiday season, the […]

52% of Senior Housing Leaders Say Operating Expenses Will Be Permanently Higher

A majority of senior living professionals believe that the Covid-19 pandemic will result in permanently higher operating expenses. That’s according to the 2020 Seniors Housing Investor Sentiment Survey from National Real Estate Investor and the National Center for Seniors Housing & Care (NIC). This year’s survey garnered responses from 167 participants from a range of […]

PGIM Senior Housing Fund Raises Nearly $1 Billion

PGIM Real Estate exceeded the fundraising target for its latest senior housing fund, securing almost $1 billion. The Madison, New Jersey-based real estate investment announced on Monday it closed its capital raise for its Senior Housing Partners Fund VI with $996 million in commitments. This is the largest raise to date in the fund series […]

Bridgewood Property Quietly Builds Regional Scale in Senior Living

Bridgewood Property Company has quietly become a regional force in senior living with a “steady as she goes” approach to development and operations. The Houston-based company has developed 34 communities since its founding, founder and president Jim Gray told Senior Housing News. Its current portfolio of 22 properties in Texas, Oklahoma and Arkansas, totaling 2,600 […]

PGIM Halfway to $750 Million Target with Newest Senior Housing Fund

PGIM Real Estate is raising funds for its latest senior housing at a rapid pace. The Parsippany, New Jersey-based real estate investment firm is more than halfway toward its $750 million fundraising target, with significant contributions from pension funds paving the way. The Pennsylvania State Employees Retirement System (SERS) approved a $100 million commitment to […]

Transactions and Financings: CIP Capital Invests in GlynnDevins

CIP Capital Invests In GlynnDevins CIP Capital invested in Kansas City, Missouri-based GlynnDevins, a provider of tech-enabled and data-driven marketing solutions to senior living communities. No financial terms were disclosed. Petsky Prunier advised GlynnDevins on the transaction. GlynnDevins was backed by Falfurrias Capital. CIP Capital plans to significantly enhance GlynnDevins’ ability to collect, synthesize, and utilize data across […]