Sunday, November 17, 2024
Read the Magazine Subscribe
Author

Channing Hamilton

AcquisitionsAssisted LivingIndependent LivingKentuckyNews

Senior Living Investment Brokerage Arranges Sale of Four-Property Portfolio in Western Kentucky

by Channing Hamilton

HENDERSON, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a four-property portfolio in Henderson, located in western Kentucky along the Ohio River and approximately 11 miles south of Evansville, Ind. Known as the Colonial Portfolio, the properties in the transaction included Colonial Assisted Living (69 units), Colonial Court Independent Living (22 units), Colonial Senior Living (51 assisted living units) and Colonial Cottages (16 independent living units). The seller was a local owner who developed and operated the assets since their inception. The buyer was a Kentucky-based owner and operator looking to grow its portfolio …

Continue Reading
0 FacebookTwitterLinkedinEmail
Chaparral Winds in Surprise, Arizona
ArizonaFinanceNews

JLL Secures $96.5M Refinancing for Seniors Housing Portfolio in Arizona

by Channing Hamilton

MESA, SURPRISE, PEORIA, SEDONA AND YOUNGTOWN, ARIZ. — JLL Capital Markets has arranged $96.5 million in refinancing for a five-property, 971-unit seniors housing portfolio in Arizona. Alanna Ellis, Brad Miner and Ace Sudah of JLL Capital Markets Debt Advisory secured the financing for the borrower, Douglaston Development and The Hampton Group. Recently renovated between 2021 and 2024, the portfolio consists of 510 independent living units, 339 assisted living units and 122 memory care units. The portfolio includes Canyon Winds at 2851 N. Boulder Canyon and 7311 E. Oasis St. in Mesa; …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentFeaturesNewsOperationsWashington, D.C

Exclusive NIC Conference Coverage: Operators Share Their Strategies, Show Ingenuity in Serving the Middle Market for Seniors

by Channing Hamilton

WASHINGTON, D.C. — Jon Fletcher of Senior Housing Partners, the development arm of Roseville, Minnesota-based Presbyterian Homes & Services, offers this advice to developers undertaking a middle-market project: set aside your ego, focus on what the residents need, and avoid the temptation to provide a variety of “fringe luxury amenities.” Not every community needs two to four restaurants, for example. “The reality is that it’s just not going to work in a middle-market space. Residents obviously still need to be treated with respect and have an amazing life enrichment experience, …

Continue Reading
0 FacebookTwitterLinkedinEmail
Caroline Clapp, senior principal, NIC
Active AdultFeaturesInvestmentNewsOperationsWashington, D.C

Exclusive NIC Conference Coverage: High Occupancies Help Make Active Adult the Belle of the Ball

by Channing Hamilton

WASHINGTON, D.C. — A key performance metric helps explain why the active adult segment of seniors housing remains an investment darling. Among the nearly 800 properties and more than 116,000 units tracked nationally by NIC MAP Vision, the occupancy rate is 93 percent. By comparison, the occupancy rate for seniors housing properties (independent and assisted living) is in the high 80s. What makes that 93 percent occupancy even more significant is that it includes active adult properties that either recently opened or are in lease-up mode.  “If you look at properties that …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceIndependent LivingMarylandNews

Enterprise Community Development Secures $116.4 Million in Financing for Three Affordable Housing Properties in Maryland

by Channing Hamilton

BALTIMORE AND ANNAPOLIS, MD. — Enterprise Community Development Inc. has secured $116.4 million in financing for three affordable housing communities in Maryland. The three communities are The Greens at Irvington Mews II and Park Heights Place, both located in Baltimore, and College Parkway Place in Annapolis. The Greens at Irvington Mews II is a 59-unit community for independent seniors. The project is currently underway and is slated to complete in October 2025. Of the property’s total unit count, 47 residences will be set aside for residents earning up to 50 percent …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingFinanceFloridaIndependent LivingMemory CareNews

JLL Capital Markets Closes Sale, Financing of Seniors Housing Community in South Florida

by Channing Hamilton

LAKE WORTH, Fla. — JLL Capital Markets has brokered the sale of Mariposa, a 313-unit seniors housing community in Lake Worth, located about 17 miles south of West Palm Beach and 20 miles north of Boca Raton. The real services firm also secured financing for the buyer. The seller and sales price were not disclosed, but the South Florida Business Journal reports that the facility sold for nearly $63.8 million. The seller was Ventas, the Chicago-based healthcare real estate investment trust. JLL represented the seller, and procured the buyer, Focus Healthcare Partners. Additionally, JLL …

Continue Reading
0 FacebookTwitterLinkedinEmail
New JerseyNewsOperationsPeople

Distinctive Living Appoints Timothy J. Ford as General Counsel, Chief Human Resources Officer

by Channing Hamilton

FREEHOLD, N.J. — Distinctive Living, a “boutique” seniors housing management and development firm, has appointed Timothy J. Ford as general counsel and chief human resources officer. In his new role, which became effective May 1, Ford is responsible for overseeing legal matters and human resources functions across Distinctive Living’s portfolio of communities, ensuring compliance with regulations and supporting the company’s mission of providing high-quality care to its residents. Recently elected to the New Jersey Assisted Living Council Board of Directors, Ford brings almost two decades of extensive legal expertise in senior care, …

Continue Reading
0 FacebookTwitterLinkedinEmail
ArizonaFinanceNews

Live Oak Bank Provides $54M Bridge Loan for Four-Property Portfolio in Arizona

by Channing Hamilton

PHOENIX and PRESCOTT, Ariz. — Live Oak Bank has provided a $54 million bridge loan for an Arizona-based owner and operator of seniors housing communities. Loan proceeds were used to retire existing bank debt for a four-property campus portfolio in the metropolitan statistical areas (MSAs) of Phoenix and Prescott Valley. The loan provides a bridge-to-agency option and features a two-year initial term and 24 months of interest-only payments.

Continue Reading
0 FacebookTwitterLinkedinEmail
Firewheel Town Village in Garland, Texas
AcquisitionsActive AdultNewsTexas

JLL Brokers Sale of 154-Unit Active Adult Community in Garland, Texas

by Channing Hamilton

GARLAND, Texas — JLL Capital Markets has arranged the sale of Firewheel Town Village, a 154-unit active adult community in Garland, located about 20 miles northeast of Dallas. JLL represented the seller, Clearworth Capital, and procured the buyer, Equity Partnership Holdings. The sales price was not disclosed. Built in 2018, Firewheel Town Village consists of studio, one- and two-bedroom units. The interior finishes include granite countertops, glass tile kitchen backsplashes, stainless steel appliances and wood-inspired plank flooring. Community amenities feature a heated saltwater pool, clubhouse, TV lounge, full-service salon, billiards room, fitness center …

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceNewsWest Virginia

Live Oak Bank Closes $39M Unitranche Loan for Senior Living Community in Morgantown, West Virginia

by Channing Hamilton

MORGANTOWN, W.VA. — Live Oak Bank has closed a $39 million unitranche loan — a hybrid financing structure that combines senior debt and subordinated debt into one loan — on behalf of a Charleston, S.C.-based owner and operator of seniors housing communities. Loan proceeds were used to retire existing bank debt along with partnership debt associated with the sponsor’s 2021 purchase of a 175-unit independent living, assisted living and memory care community located in Morgantown, about 75 miles south of Pittsburgh, Pa. The three-year loan provides a bridge-to-agency option and …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts