Tuesday, September 9, 2025
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From The MagazineInvestment

Company Profile: CareTrust Finds Its ‘Secret Sauce’

by Jeff Shaw

With operational history in its front office, the publicly traded REIT is succeeding where others have feared to tread — skilled nursing. By Jeff Shaw The skilled nursing sector faces some unique headwinds. As the most healthcare-heavy form of seniors housing, nursing homes require intense specialization on the part of operators. The falling occupancy rates stemming from COVID-19 have put enormous strain on operator’s net operating income.  NIC data shows skilled nursing hit an all-time low of 70.7 percent in January, compared with 80.7 percent for independent living and assisted …

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Industry VoicesInvestment

The SHB Interview: Michael Gordon, Harrison Street

by Jeff Shaw

Investor sees a bright future in seniors housing. By Jeff Shaw Harrison Street, a Chicago-based investment management firm, has made its name by specializing in alternative assets — focusing on seniors housing, student housing, medical office, life sciences, data centers and self-storage.  Through privately managed funds, the investor built an impressive portfolio. Harrison Street owns more than 200 communities totaling approximately 28,000 units, of which 35 percent are independent living, 45 percent are assisted living and 20 percent are memory care.  The American Seniors Housing Association (ASHA) ranked Harrison Street …

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KeyBank Seniors Housing Sales Shoop
AcquisitionsContent PartnersFeaturesIndustry ContentInvestmentKeyBank

Seniors Housing Sales Pick Up as Recovery Gains Steam

by Sarah Daniels

As the seniors housing industry slowly recovers from occupancy declines and disrupted operations due to COVID-19, investors are back in the market hunting for deals. Some $3.2 billion in seniors housing and care facilities traded hands in the second quarter this year, a year-over-year increase of a whopping 122 percent, according to Real Capital Analytics, which tracks real estate deals of $2.5 million or more. The jump in sales is hardly surprising when compared to the pandemic-riddled prior period. But unlike past downturns, the fact that seniors housing has become …

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Company NewsFinanceInvestmentNews

Rick Shamberg, Greg Rush, Kari Schmidt Launch Scarp Ridge Capital Partners with $300M Fund

by Jeff Shaw

NEW YORK CITY — Seniors housing finance veterans Rick Shamberg, Greg Rush and Kari Schmidt have launched Scarp Ridge Capital Partners, a New York-based investor. Focused on value-add and opportunistic real estate, the company plans to invest in hospitality and healthcare with a heavy concentration of seniors housing. Launching with a $300 million fund, Scarp Ridge plans to acquire non-performing loans; create structured financing solutions including debt, mezzanine and preferred equity; and acquire direct ownership interests in assets and portfolios. “Scarp Ridge believes there will be opportunities to acquire distressed …

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Pipitone M&T seniors housing industry
Active AdultAffordable HousingAssisted LivingContent PartnersFeaturesFinanceIndependent LivingIndustry ContentInvestmentM&T Realty Capital Corporation

In the Seniors Housing Sector, a Sense of Recovery is Growing

by Sarah Daniels

For more than a year, seniors housing operators have battled rising vacancy, pressure on net operating income and uncertainty about the future as potential residents steered clear from property tours and lease commitments. Those difficulties have created a tough financing environment for the segment. But a growing number of seniors housing discussions today are centered on how operators and the industry are recovering, according to Christopher Callaghan, head of healthcare banking at M&T Bank. To what degree a recovery is occurring, however, depends on several variables. “There is still a …

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InvestmentNews

Welltower Invests in Developer, Operator Monarch Communities

by Jeff Shaw

TOLEDO, Ohio — Welltower Inc. (NYSE: WELL) has made an investment in Monarch Communities, a developer, owner and operator of seniors housing communities. Industry veterans Michael Glynn, Ross Dingman and Andrew Teeters launched the company in 2019. This new relationship is focused on developing, re-developing and managing independent and assisted living communities. Welltower’s investment in Monarch will give Welltower exclusive access to Monarch’s expertise in developing and operating senior living communities in premium micro markets throughout the United States. “Monarch is an ideal fit to our long-term vision in senior …

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FeaturesInvestmentNews

JLL: Investors Are Looking Beyond the Pandemic

by Jeff Shaw

CHICAGO — Although the seniors housing industry still faces many challenges, long-term demand still has the sector on a trajectory of growth. That’s according to JLL Valuation Advisory’s fourth annual Seniors Housing Investor Survey and Outlook, released last week. Construction delays resulting from the pandemic will magnify the long-term supply shortage, the report notes. With the baby boomers within approximately 10 years of occupancy, medium- and long-term investment remains positive. Additionally, the need to serve the middle-income population will continue to grow, exacerbated by the global impact of COVID-19. “Investors …

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Company NewsFinanceInvestmentNews

Locust Point Capital Closes $428M Seniors Housing Debt Fund

by Jeff Shaw

RED BANK, N.J. — Locust Point Capital has closed Locust Point Seniors Housing Debt Fund II, the firm’s second fund focused on its direct lending strategy to the seniors housing and care sector. The Red Bank-based firm launched its $312 million debut fund in 2016. Fund II closed above its target at $428 million after receiving strong interest from a diverse group of investors, including pension funds, endowments, foundations, insurance companies and wealth advisors. Approximately three quarters of the commitments came from United States-based investors, with the remaining coming from …

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InvestmentNewsPeople

Lloyd Jones Appoints Andy Carroll as Chief Investment Officer

by Jeff Shaw

MIAMI — Lloyd Jones LLC, a Miami-based private equity firm, has named Andy Carroll chief investment officer to guide the firm’s multifamily and seniors housing investment strategies. Carroll is the former director of investments for American House Senior Living, one of the nation’s largest owner-operators. Previously he served as director of underwriting for the firm’s affiliate and has closed over $1 billion in seniors housing investments since 2008. During his more than 15-year tenure with the firm, he managed underwriting, due diligence, closings and recapitalizations across a variety of real …

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Industry VoicesInvestment

Is Now a Good Time to Invest in Senior Living?

by Jeff Shaw

Sector has proven to be more resilient than others during the pandemic. By Dale Watchowski In 2020, the U.S. economy contracted dramatically due to the COVID-19 pandemic, with many industries negatively impacted, including senior living. However, few real estate sectors have proven more resilient in times of turmoil than seniors housing. Since the 2008 recession, seniors housing has outperformed many other types of real estate and has established itself as a compelling asset class for investors. An underpublicized attraction of seniors housing is its rising utilization.  Americans are living longer …

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