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Hayden Spiess

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AcquisitionsNewsSkilled Nursing

NHI to Sell Skilled Nursing Portfolio to National HealthCare Corp. for $560M

by Hayden Spiess

MURFREESBORO, Tenn. — National Health Investors (NYSE:NHI) has executed an agreement to sell a portfolio of properties to National HealthCare Corp. (NHC) for a total of $560 million.  The portfolio includes 32 skilled nursing facilities and three independent living facilities. NHC currently operates the properties on a lease.  In 2025, the portfolio generated cash lease revenue of roughly $39.7 million for NHI.  According to NHI, the company expects this move to strategically increase its concentration in the category of private-pay seniors housing. Following the transaction, NHI’s senior housing operating portfolio (SHOP) …

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Assisted LivingColoradoFinanceIndependent LivingMemory CareNews

Lightstone Capital Provides $20M Bridge Financing for 216-Unit Property in Denver

by Hayden Spiess

DENVER — Lightstone Capital has provided a $20 million first mortgage bridge loan to refinance Harvard Square by Cogir, a senior living community located in Denver.  Funds managed by affiliates of Fortress Investment Group own the property, which is managed by Cogir Senior Living.  Harvard Square by Cogir totals 216 units across four stories, with independent living, assisted living and memory care residences. Amenities at the property include a fitness center, activities room, golf simulator, library, salon and barbershop, café and pub.  According to Lightstone Capital, this financing reflects the platform’s …

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AcquisitionsArizonaAssisted LivingIndependent LivingMemory CareNews

IPA Arranges Sale of Senior Living Community in Metro Phoenix

by Hayden Spiess

PHOENIX — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has arranged the sale of a senior living community totaling more than 100 units in metro Phoenix. Built in 2021, the community features independent living, assisted living and memory care residences.  Clarion Partners acquired the property from Civitas Capital Group for an undisclosed price.  Stellar Senior Living will operate the community on behalf of Clarion Partners. 

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FeaturesIndustry Voices

C-PACE as a Seniors Housing Solution: Michele Pitale of CounterpointeSRE Weighs in

by Hayden Spiess

Michele Pitale is managing director and head of C-PACE at CounterpointeSRE, a Connecticut-based financial services firm. Seniors Housing Business recently conducted a Q&A with Pitale to get her thoughts on the Commercial Property Assessed Clean Energy (C-PACE) financing mechanism and its place within the senior living landscape.  SHB: C-PACE financing enables commercial property owners to fund resiliency, energy-efficient, renewable energy and water conservation projects for their properties. What void has this financing vehicle filled in the seniors housing sector that traditional lenders couldn’t provide historically? Pitale: C-PACE credit underwriting is more tolerant of properties …

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AcquisitionsAffordable HousingNew JerseyNews

Hudson Atlantic Realty Brokers Sale of 59-Unit Affordable Community Near New York City

by Hayden Spiess

BAYONNE, N.J. — Hudson Atlantic Realty has brokered the sale of Senior Horizons at Bayonne, an affordable seniors housing community located in Bayonne, roughly 10 miles outside New York City. The buyer and seller were not disclosed.  The property, which totals 59 units, is subject to agreements with the New Jersey Housing and Mortgage Finance Agency (NJHMFA) and New Jersey Department of Community Affairs (NJDCA) through 2047, as well as a Hudson County HOME regulatory agreement through 2042.  Of the units, 30 percent are reserved for residents earning at or below …

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FinanceNewsSkilled NursingWashington

MonticelloAM Provides $46M Financing for Skilled Nursing Portfolio in Washington

by Hayden Spiess

NEW YORK CITY — MonticelloAM has provided $46 million in financing for a skilled nursing portfolio located in Washington. The financing includes a $40 million bridge loan and a $6 million working capital line of credit, with a 36-month initial term.  Totaling five properties with more than 400 licensed beds, the portfolio features four skilled nursing facilities and one skilled nursing and independent living community. The borrower, which owns more than 80 healthcare properties across nine states,  used the loan proceeds to acquire the portfolio. 

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FeaturesFrom The Magazine

Small Markets Deliver Big Results for Seniors Housing

by Hayden Spiess

By Jane Adler Major urban areas tend to get most of the attention in the senior living industry. After all, these locations have large populations and submarkets with a sizable pipeline of income and age-qualified older adults who potentially want or need independent living, assisted living or memory care.  But secondary and tertiary markets, occasionally overlooked, are generating solid investment returns and even outperforming big-city properties in many cases.  Smaller cities have less competition, say owners and operators. Existing senior living properties in secondary and tertiary markets refilled faster after …

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Company NewsMassachusettsNewsOperationsPeople

Benchmark Names Adam Manchester Senior Campus Executive Director

by Hayden Spiess

WALTHAM, Mass. — Benchmark Senior Living has named Adam Manchester senior campus executive director, effective immediately.  In this position, Manchester will oversee operations for all of the continuing care retirement communities (CCRCs) within the Benchmark portfolio, which include Edgehill in Stamford, Connecticut; Meadow Ridge in Redding, Connecticut; New Pond Village in Walpole, Massachusetts; and The Commons in Lincoln in Lincoln, Massachusetts. Manchester previously served as the campus executive director of New Pond Village for seven years.  “We are always looking for better ways to support our CCRCs and the associates, residents …

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AcquisitionsIllinoisNews

Inland Acquires 156-Unit Community in Chicago Suburb

by Hayden Spiess

MOKENA, Ill. — Inland Real Estate Acquisitions has acquired Clarendale of Mokena, a 156-unit senior living community located in Mokena, a southwest suburb of Chicago.  The property features 60 independent living, 56 assisted living and 40 memory care units. Amenities at the community include a bistro, pub, full-service salon and spa, fitness studio, theater room, gathering spaces, landscaped grounds and an outdoor patio.  “Our senior living investment strategy centers on acquiring the highest quality opportunities with best-in-class operators,” says Matthew Tice, senior vice president of Inland. “The Clarendale of Mokena is …

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CaliforniaDevelopmentFinanceNews

Ziegler Closes $101.7M Bond Financing for California Nonprofit

by Hayden Spiess

SARATOGA, Calif. — Specialty investment bank Ziegler has completed the closing of Odd Fellows Home of California’s $101.7 million Series 2026AB bonds through the California Statewide Communities Development Authority.  The borrower is a nonprofit public benefit corporation that owns and operates two senior living communities, located in Napa and Saratoga. The borrower’s original senior living community, situated on a 37-acre site in Saratoga, has been in operation since 1912. The property comprises 141 independent living units, 85 assisted living apartments, a 94-bed skilled nursing facility and 15 memory care beds.  Proceeds …

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