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Lee Equity Partners, Coastwood Senior Housing Partners Invest in Discovery Senior Living

by Jeff Shaw

BONITA SPRINGS, Fla. — Funds advised by Lee Equity Partners LLC and Coastwood Senior Housing Partners LLC have agreed to an undisclosed amount of investment in Discovery Senior Living, a Bonita Springs-baed operator. The recapitalization will fund Discovery’s expansion and operational platform enhancement plans. “This strategic recapitalization purposefully combines the strengths and successful experiences of three companies and the resultant innovation-focused efforts will allow the acceleration of Discovery’s ability to execute its vision of creating a scaled company that outperforms the marketplace, addresses some of the legacy industry paradigms and …

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Company NewsInvestmentNews

Silverstone Senior Living Takes on Compatriot Capital as New Equity Partner

by Jeff Shaw

DALLAS — Compatriot Capital, a diversified real estate company and wholly owned subsidiary of Sammons Enterprises Inc., has acquired an equity interest in Dallas-based senior living developer Silverstone Senior Living. Currently, Compatriot Capital is Silverstone’s largest limited joint venture partner with investments in the company’s Washington, D.C. projects currently in development. Silverstone Senior Living was established in Dallas in 2012 by hospitality and real estate veterans Denny Alberts and John Goff, who had held executive roles at Crescent Real Estate Equities Inc. Currently, Crescent is an investor in Silverstone. Silverstone …

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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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Shoop KeyBank Hints of Recovery
Content PartnersDevelopmentFeaturesIndustry ContentInvestmentKeyBank

Seniors Housing Grinding through Difficult Environment, But Hints of Recovery Emerge

by Sarah Daniels

The health of seniors housing occupancy continues to recover, albeit slowly, amid challenges that refuse to relent. Rather than a one-two punch, the sector has absorbed a one-two-three combination: Occupancy-reducing COVID landed the first blow, labor shortages and inflating operational expenses delivered the second, and rising interest rates scored with the third, declares Charlie Shoop, a senior vice president with KeyBank’s healthcare group. A slumping economy may add a kick to the teeth for good measure. “There is a lot of noise in seniors housing financials right now, and few …

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AcquisitionsFloridaInvestmentNewsSkilled Nursing

LTC Makes $62M Joint Venture Investment in Three Skilled Nursing Facilities

by Jeff Shaw

WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a Westlake Village-based REIT, has made a joint venture investment with PruittHealth Inc. for the purchase of three skilled nursing centers in North Florida. LTC will be the majority owner with a $62 million contribution to the joint venture. The assets were constructed between 2018 and 2021, have a combined 299 licensed beds primarily in private rooms, and are operated by PruittHealth. The centers will be operated under a 10-year master lease, with two five-year renewal options, with an affiliate of …

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DevelopmentFrom The MagazineInvestment

Value-Add Strategies Fit the Times

by Jeff Shaw

As land and construction costs soar, developers find success with repositioning projects despite the risks. By Jeff Shaw Ground-up seniors housing construction is arguably more difficult now than it has ever been, forcing developers to come up with an alternative game plan to stay active. The producer price index for new building construction — a measure of the price that contractors say they would bid to build a fixed set of buildings — increased 19.8 percent year over year in June, according to the Associated General Contractors of America (AGC). …

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Katherine Stewart Seniors Occupancy
AcquisitionsContent PartnersDevelopmentFeaturesFinanceIndustry ContentInvestment

Seniors Housing, Skilled Nursing Properties Regain Traction Inch by Inch

by Sarah Daniels

It could be argued that the last 30 months have presented the seniors housing and skilled nursing industries with their most adverse operating environment ever. Heading into 2023, at least some difficulties appear to be abating. Seniors housing occupancy rates continue to improve, reaching 81.4 percent in June this year, which was an improvement of 90 basis points over the March figure, according to the National Investment Center for Seniors Housing and Care (NIC). That was also 340 basis points higher than the time series low of 78 percent recorded …

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FeaturesInvestmentNews

InterFace Panel: Labor Issues Hurt Margins, Investor Confidence in Seniors Housing

by Jeff Shaw

ATLANTA —  The labor shortage that continues to hamper the seniors housing industry is taking a toll on the capital markets side of the business as owner-operators find themselves underwriting increased costs that are ultimately causing profit margins to shrink and spooking some potential investors. The dearth of qualified and committed staffers at all levels of seniors housing was exacerbated by the pandemic. But other macro-level factors — low overall unemployment, stiff competition with hospitality and healthcare users, elevated demand for flexible work routines — are amplifying the problem, even …

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AcquisitionsCompany NewsInvestmentNews

Investment Fund Endeavor Plans $500M in Seniors Housing Acquisitions

by Jeff Shaw

DENVER — Endeavor Senior Living has officially launched, with plans to invest $500 million into North American seniors housing assets with a focus on value-add opportunities. The principals of Endeavor encompass over 50 years of experience in seniors housing, behavioral health, real estate development and investments, capital markets, hospitality, branding, marketing and sales. “Building upon our deep perspective into investments, capital markets and operations, Endeavor is poised to capitalize on opportunities to better serve seniors today and for decades to come,” says Kyle Beard, co-founder and managing partner. “Rooted in …

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InvestmentNewsPeople

Lloyd Jones Adds Four to Seniors Housing Team

by Jeff Shaw

MIAMI — Lloyd Jones, a Miami-based investor, has added four members to its seniors housing team. Sarah Curatella was hired as regional vice president of health and wellness for senior living. She has over 28 years of experience as a registered nurse and assisted living administrator in Alabama. She is also a Certified Legal Nurse Consultant. Brian Griffith was hired as regional director of senior living sales. He has 14 years of experience in healthcare sales, leadership and business development. Linda Pisacano was hired to the senior living transition team. …

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