Despite hopes that the rising tide in occupancy rates would lift all boats for the seniors housing industry, many operators with full properties still wrestle with revenue volatility that hinders financial performance. This phenomenon can be especially perplexing for investors who cut their teeth on other commercial property types where fully leased properties typically deliver healthy returns. Intent on their property’s real estate fundamentals, they risk overlooking the impact of clinical care on the bottom line. “Revenue volatility tends to be opaque for a lot of operators because it’s in the clinical world that turbulence happens with the residents, and …
Finance
By Matt Valley AUSTIN, Texas — Jonathan Schatz, president of investment firm Coastwood Senior Housing Partners, believes the seniors housing industry has arrived “at an existential moment.” “Make no mistake, we are facing a potential shortage of thousands of seniors housing units,” Schatz stated during a panel discussion titled “New Money, New Models: The Next Decade of Capital Formation,” which he moderated at the 2025 NIC Fall Conference on Sept. 9. Nearly 3,200 industry professionals gathered at the JW Marriott Austin for the three-day event. At the current rate of development, …
By Hayden Spiess ATLANTA — The seniors housing sector has not always been the apple of commercial real estate (CRE) capital’s eye. Industry professionals say that this is no longer the case and that a confluence of factors is driving strong investment activity in the sector. “Nationally, this asset class is the darling with respect to CRE,” asserts Michael Bowden, senior vice president of investments with LTC Properties. “It wasn’t, as we know, for a long time. So that’s a new shift, which is super cool for all of us.” Courtney …
FAIRFIELD, Conn. — An undisclosed borrower has received a $35.3 million permanent loan for Sturges Ridge of Fairfield, an assisted living and memory care community located in Fairfield. Provided through Freddie Mac, the 10-year, fixed-rate loan features full-term interest only payments. Opened in 2018, Sturges Ridge of Fairfield totals 99 beds across 88 units. Benchmark Senior Living operates the community. BWE secured the financing on behalf of the borrower.
NEW YORK CITY — Multifamily and seniors housing bridge lending platform MonticelloAM has appointed Liam Sorensen to the role of senior relationship manager. In his new role, Sorensen will be responsible for fostering and expanding client relationships, sourcing new opportunities and supporting the firm’s lending and investment activity across the seniors housing market. He will report to Karina Davydov, senior managing director, Healthcare. Sorensen’s experience includes almost a decade in healthcare real estate finance and a track record of debt structuring, underwriting, portfolio management and client advisory services. Prior to joining …
LONG BEACH, Calif. — Quality Senior Housing Foundation and Sunrise Senior Living have received $80.1 million in financing for the development of a new community in Long Beach. JLL Capital Markets and H.J Sims arranged the tax-exempt bond financing on behalf of the borrowers. Quality Senior Housing Foundation will own the community, which Sunrise Senior Living will operate. Upon completion, the property — Sunrise of Long Beach — will comprise 102 licensed beds across 86 apartments. Residences will include 62 assisted living units and 24 memory care units. Sunrise Development Inc. …
SAN ANTONIO, Texas — Helios Healthcare Advisors has arranged a $10.7 million HUD-insured refinancing for a portfolio comprising 76 assisted living and memory care units in the San Antonio metro. Located within two suburbs of San Antonio, the units are situated within two communities. Prior to securing this refinancing, Helios arranged an 18-month bridge loan to recapitalize the properties. The borrower is a regional owner and operator with a portfolio comprising more than 700 units within Texas.
GAINESVILLE, Fla. — KeyBank Community Development Lending and Investment has provided a $13 million construction loan to National CORE, a nonprofit developer, to finance Hawthorne Heights, an 86-unit affordable seniors housing project in Gainesville. KeyBank Commercial Mortgage Group also arranged a $6.5 million Freddie Mac permanent loan for the project. Hawthorne Heights will serve seniors aged 62 and older with five units specifically set aside for individuals with special needs. The five-story building will be constructed on a 3-acre site, and, in addition to the special-needs units, will offer three …
GAINESVILLE, Fla. — Nonprofit developer National CORE has received $19.5 million in construction financing to fund the development of Hawthorne Heights, a new affordable seniors housing project in Gainesville. KeyBank Community Development Lending and Investment provided a $13 million loan and secured a $6.5 million Freddie Mac permanent loan on behalf of the borrower. National CORE received additional funding from Red Stone, which provided low-income housing tax credit equity and bonds from the Florida Housing Finance Corp., for the project. The project also qualifies for real estate tax abatement. Upon completion, …
NEW YORK CITY — MonticelloAM has provided $152 million in financing for a skilled nursing portfolio located across North Carolina. The financing includes $142 million in bridge debt, which carries a 36-month initial term with two extension options, for the acquisition of the portfolio. Totaling 1,100 licensed beds, the portfolio comprises nine skilled nursing facilities. Additionally, MonticelloAM has provided a $10 million working capital line of credit to support daily operational needs at the facilities. The borrower was not disclosed.