Haven Senior Investments facilitated the sale of a 40-Unit assisted living community owned by a family looking to exit the industry, a common theme of sales in the last year. Haven’s Rebecca Van Wieren and Robin Gestal handled the transaction of a newly built assisted living community in an affluent suburb of San Antonio, Texas. A husband and wife team of doctors with a passion for caring for seniors built the community in 2017, but decided to sell and pass the baton to another operator more focused on seniors housing. The Type-A community features 40 beds in 28 units (with a bathroom in each unit).
Navigating the Current Senior Housing Market Conditions
In March 2022, the secured overnight financing rate (SOFR) data – a key benchmark for bridge debt – was at a comfortable 0.5%. This was associated with spreads between 150 to 250 basis points, resulting in a collective rate of around 3%. Fast-forward to today, and we observe a stark increase in the SOFR, now