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Assisted Living

Wally Sauthoff NAI Seniors Housing Sale
AcquisitionsActive AdultAssisted LivingContent PartnersFeaturesFinanceIndustry ContentInvestmentOperationsPeopleSkilled Nursing

Steps to Help Small Seniors Housing Owners Prepare for a Sale

by Sarah Daniels

The seniors housing market has had its fair share of well-documented struggles, including plunging occupancies during COVID-19 and continuing labor challenges. Like the rest of the commercial real estate market, the sector is now confronting higher interest rates and recession. Despite those headwinds, investor demand for seniors housing assets remains strong, says Dawn Davis, an advisor specializing in seniors housing and skilled nursing with NAI Greywolf in Milwaukee. But sellers are only now grudgingly coming to terms with the fact that, because capital has become more expensive, the price buyers …

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Assisted LivingIowaNewsSkilled Nursing

Cambridge Provides $10.4M HUD Refinancing for The Views of Burlington in Iowa

by Jeff Shaw

BURLINGTON, Iowa — Cambridge Realty Capital Cos. has provided a $10.4 million HUD Lean loan to refinance Oakview Nursing and Rehabilitation and Ridgeview Assisted Living, a dual-facility campus also known as The Views of Burlington. Located in Burlington, just across the Mississippi River from Illinois and just north of the Missouri border. Oakview Nursing and Rehabilitation is a 60-bed skilled nursing facility and Ridgeview Assisted Living is a 42-bed facility. Andrew Erkes, Cambridge president, says the fully amortized, 35-year loan was provided for the owner, an Iowa limited liability company. …

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Assisted LivingFinanceNewsSouth Carolina

Live Oak, Locust Point Arrange $15.3M Financing for Phoenix Senior Living

by Jeff Shaw

BEAUFORT, S.C. — Live Oak Bank and Locust Point Capital have arranged a $15.2 million loan for Georgia-based Phoenix Senior Living. The financing retired the existing construction debt of a 75-unit assisted living and memory care community in Beaufort, South Carolina. Further details were not disclosed.

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AcquisitionsActive AdultAffordable HousingAssisted LivingDevelopmentFeaturesFinanceIndependent LivingIndustry ContentInvestmentOperationsPeopleSkilled NursingVideosWebinars

Webinar: Let’s Talk About the Outlook for Seniors Housing Investment and Finance

by Sarah Daniels

  Is there room for optimism in seniors housing? What does investor interest look like now? Learn about how interest rate increases are impacting seniors housing valuations, what a flight to quality means for different sectors, financing concerns and more. Watch the webinar here. Timestamps of major topics covered: (5:25) Impact of rising interest rates on seniors housing valuations (7:54) Effects broken down by sector: active adult, skilled nursing, assisted living (11:07) Financing in the current environment (13:21) Acquisition opportunities, plus deal flow and closing (18:10) Outlook for the market …

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AcquisitionsAssisted LivingNewsTexas

MedCore Acquires 86-Unit Avenues of Park Forest in Farmers Branch, Texas

by Jeff Shaw

FARMERS BRANCH, Texas — MedCore Partners has acquired an 86-unit senior living community in the first-ring Dallas suburb of Farmers Branch. MedCore has renamed the property, formerly called The Avenues of Park Forest, as The Grove on Forest Lane. The community features 70 assisted living and 16 memory care units. The transaction marks MedCore’s second acquisition in Texas but the first in the Dallas market. The property is MedCore’s 19th nationwide. Renovation effort will include new interior and exterior signage, courtyard landscaping, common area upgrades and apartment amenity enhancements. Senior …

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AcquisitionsAssisted LivingKentuckyNews

SLIB Brokers Sale of 119-Unit Forest Hills Commons in Louisville, Kentucky

by Jeff Shaw

LOUISVILLE, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Forest Hills Commons, a 119-unit assisted living and memory care community in Louisville. Built in 2019, Forest Hills is located 14 miles from downtown Louisville on 4.4 acres. The seller is a regional owner-operator exiting the state of Kentucky. The buyer is a Midwest-based owner-operator looking to add to its existing footprint throughout the Midwest. The price was not disclosed. Ryan Saul and Daniel Geraghty handled the transaction on behalf of SLIB. “The seller developed this asset …

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AcquisitionsAssisted LivingFinanceNewsWisconsin

VIUM Provides $6.2M Bridge Loan for Community in Northeast Wisconsin

by Jeff Shaw

WISCONSIN — VIUM Capital has funded a $6.2 million bridge loan for a 62-unit assisted living and memory care community in Northeast Wisconsin. The borrower used the funds to acquire the property and further build on its existing portfolio in Wisconsin. Further details were not disclosed.

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AcquisitionsAssisted LivingColoradoNews

ESI Negotiates Sale of 66-Unit Community in Denver’s Cherry Creek Neighborhood

by Jeff Shaw

DENVER — Evans Senior Investments (ESI) has arranged the sale of a 66-unit assisted living community in the Cherry Creek neighborhood of Denver. A large, East Coast-based private equity firm sold the asset to Novellas Living, the buyer’s first acquisition in the state of Colorado. The price was not disclosed. Built in 2002, the community was 67 percent occupied at the time of marketing while losing money. Throughout the transaction process, the community was able to increase occupancy to 79 percent while increasing the private pay payor source. ESI helped …

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Assisted LivingDevelopmentNevadaNews

MorningStar, Confluent Break Ground on 168-Unit Seniors Housing Development in Las Vegas

by Jeff Shaw

LAS VEGAS — MorningStar Senior Living and Confluent Senior Living have broken ground on MorningStar Senior Living at The Canyons, the joint venture’s first development in Nevada. Located in Las Vegas, the four-story, 196,000-square-foot community will feature 95 independent living, 49 assisted living and 24 memory care units. Common areas will include indoor and outdoor dining venues, a pool and spa, fitness center and clubroom terrace with views of the Vegas Strip and mountains to the west. Completion is slated for summer 2024. Confluent Senior Living, a subsidiary of Denver-based …

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AcquisitionsActive AdultAssisted LivingIndustry ContentInvestmentOperationsSkilled NursingVideosWebinars

Webinar: The Great Squeeze — Vanishing Seniors Housing Operating Margins

by Sarah Daniels

    Operating margins are shrinking, with cap rates becoming harder to calculate and in-place cash flows lower than pre-pandemic levels. The Sept. 22 webinar “The Great Squeeze — Vanishing Seniors Housing Operating Margins” focused on the bottom line for industry owners and operators. The panel discussion, hosted by Seniors Housing Business and sponsored by Valuation & Information Group, sought to shed light on valuation impacts, debt, interest rates and equity. “In the early months of the pandemic, interest rates decreased. Cap rates for well-performing senior housing projects hit new lows. Meanwhile, …

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