Transactions and Financings: FellowshipLife Acquires Fifth Community; BWE Secures $47M for Refinancing

Transactions FellowshipLife acquires fifth community FellowshipLife, a New Jersey-based nonprofit, announced it has added Applewood Village into its network of communities, expanding its portfolio to five. According to a press release, Applewood Village was owned and operated by CentraState Healthcare System, and the community will still maintain ties with CentraState as “a preferred provider of […]

Transactions and Financings: Legend Increases Portfolio to 59; Walker & Dunlop Closes on Midwest Portfolio

Management Legend Senior Living increases portfolio to 59 Legend Senior Living announced it has assumed the management of four senior living communities in Florida, bringing its total portfolio up to 59. The communities were previously managed by Harbor Chase and have been renamed to The Gables. The new communities further expand Legend’s footprint within Tallahassee, […]

Sinceri Senior Living Takes on 7 More Properties, Exceeding 80-Community Mark

Sinceri Senior Living has grown its national footprint to more than 80 communities by taking over seven communities recently acquired by Ventas (NYSE: VTR), with more expansion on the way soon. Ventas acquired the Magnolia Springs communities for $143 million and assigned Sinceri as the operator, the Chicago-based real estate investment trust (REIT) previously noted […]

Transactions and Financings: Unlock Health Acquires SPM Group; JLL Capital Markets Secures $35M for Upcoming Community

Acquisitions Unlock Health acquires SPM Group Unlock Health, a healthcare and technology and services growth platform, announced it has acquired SPM Group, a network of health and healthcare agencies. Among the agencies included in SPM Group are SPM, GLC, Dreamscape and Centretek from Corridor Capital, LLC. Financial terms of the transaction are not available at […]

Transactions & Financings: A Place for Mom, USAA Partner Up; Morningstar Living, Moravian Manor Affiliate

Partnerships USAA, A Place for Mom announce joint relationship A Place for Mom has announced a partnership to provide senior living advisory services to USAA, a veterans services provider with 13 million members. According to a press release, A Place for Mom advisors will offer personalized guidance and recommendations based on knowledge of Veterans Affairs […]

Transactions and Financings: Serviam, Curana Launch Value-Based Care Venture; Grandbridge Facilitates Funding of $426M Portfolio

Transactions Grandbridge facilitates $426 million for senior housing properties Grandbridge Real Estate Capital facilitated the financing of $426.8 million seniors housing portfolio for a publicly traded healthcare REIT. The portfolio was secured by 19 senior housing properties across 10 states and was financed by an agency lender. The transaction was part of Grandbridge’s seniors housing […]

Transactions & Financings: VIUM Closes on $350M in Financings; K4Connect Raises Over $8M

Sales JLL Capital Markets arranges sale of Oklahoma community JLL Capital Markets arranged the sale of a 105-unit community in a suburb of Tulsa, Oklahoma, representing seller Prevarian Senior Living and procured the buyer, TULAF3 LLC. Prairie House will be managed by Legend Senior Living, an affiliate of the buyer. SLIB facilitates sale of Illinois […]

Despite Fears of ‘Death Spiral’ for Small Buildings, Seasoned Operators See Promise in Enlivant Portfolio

Earlier this spring, I received a LinkedIn message related to the future of the TPG/Sabra Healthcare REIT (Nasdaq: SBRA) joint venture senior living portfolio, operated by Enlivant. The message was from a relative of a resident, sharing a letter stating that a new operator would soon be taking over. I eventually learned the future operator […]

SVB Failure Ratchets Up Pressure in Tight Senior Living Lending Environment

The failure of Silicon Valley Bank (SVB) last week could bring added challenges to senior living capital markets, and make an increasingly difficult lending environment even tougher throughout the remainder of the year. The SVB failure is the second largest bank failure in U.S. history, with the bank primarily serving tech investors and venture capital […]

The End of Extend and Pretend: Time Running Out for Distressed Senior Living Communities

The runway for distressed senior living properties is getting shorter. Some operators have seen a slow march toward pre-pandemic occupancy gains and as well as to greater margins in 2022. Others have faced stalling or declining occupancy and revenue, coupled with strong headwinds from increased labor and operating expenses. Banks and lenders gave operators a […]