Author

Hayden Spiess

Sharon-SouthPark_Charlotte-N.C
CCRCDevelopmentFinanceNewsNorth Carolina

Ziegler Closes $166.4M Bond Financing for Community Expansion in Charlotte

by Hayden Spiess

CHARLOTTE, N.C. — Ziegler has closed approximately $166.4 million in bond financing on behalf of The Presbyterian Home at Charlotte, doing business as The Sharon at SouthPark.  Originally founded in 1964, the organization owns and operates a continuing care retirement community in Charlotte. Situated on 28.1 acres in the SouthPark area of Charlotte, the community currently features 247 independent living residences, 38 assisted living units and 96 skilled nursing beds.  Proceeds from the financing will be used to fund an expansion project at the property. The expansion will add 64 new …

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FinanceNewsPennsylvania

BWE Secures $40M Cash-Out Refinancing for Community in Metro Philadelphia

by Hayden Spiess

GLEN MILLS, Pa. — BWE has secured a $40 million cash-out refinancing for Cogir of Glen Mills, a community located about 30 miles west of Philadelphia in Glen Mills. Harbert Management Corp. is the borrower.  Ryan Stoll and Taylor Mokris of BWE arranged the financing through a regional commercial bank on behalf of Harbert.  Built in 2019, the community totals 173 units, with independent living, assisted living and memory care residences. Amenities at the property include multiple dining venues, a fitness center, movie theater, art studio, rooftop deck, landscaped courtyards and …

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Preston-Greens_Lexington-Ky
AcquisitionsAssisted LivingKentuckyMemory CareNews

JLL Brokers Sale of 124-Unit Community in Lexington

by Hayden Spiess

LEXINGTON, Ky. — JLL Capital Markets has brokered the sale of Preston Greens Senior Living, a 124-unit assisted living and memory care community located in Lexington.  A partnership between Cedarhurst Senior Living and an undisclosed REIT acquired the property for an undisclosed price.  Opened in 2021, the 140-bed community was 95 percent occupied at the time of sale. Amenities at the property include multiple dining venues, a bistro and bar, fitness center, salon, therapy and massage rooms, an art studio, theater and landscaped outdoor areas including a courtyard, garden, dog park …

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Bellflower Whispering Ridge
AcquisitionsAssisted LivingIndependent LivingMemory CareNebraskaNews

Agemark Senior Living Acquires, Rebrands Community in Omaha

by Hayden Spiess

OMAHA, Neb. — Agemark Senior Living has acquired Esprit Whispering Ridge, an assisted living and memory care community located in Omaha.  Agemark has rebranded the property as The Bellflower at Whispering Ridge. Along with its investment partner, Agemark plans to invest approximately $1.3 million in capital improvements at the community. Moving forward, The Bellflower will also offer independent living and “assisted living plus” units.  This acquisition brings Agemark’s Omaha portfolio to five communities totaling more than 450 units. 

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All-Seasons-Delray_Delray-Beach-Fla
Assisted LivingDevelopmentFloridaIndependent LivingNews

ANF Tops Out Luxury Community in South Florida

by Hayden Spiess

DELRAY BEACH, Fla. — Construction and development firm ANF has completed the topping out of All Seasons Delray, a luxury senior living community currently underway in Delray Beach.  Beztak is the developer.  Upon completion, the property will feature 153 units, with 92 independent living apartments and 61 assisted living residences. Amenities at the community will include a swimming pool, landscaped courtyard, pub, theater, library, game room, fitness center, pottery and arts studios, multipurpose activity spaces and an onsite medical center.  Completion of All Seasons Delray is scheduled for the first quarter …

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DevelopmentFinanceNew JerseyNews

Joint Venture Receives $84.7M Bond Financing for Development West of New York City

by Hayden Spiess

PEAPACK-GLADSTONE, N.J. — Peapack Partners LLC — a joint venture between Distinctive Living Development, Melillo Equities and Pointsfive — has received $84.7 million in bond financing for the development of a seniors housing community in the New Jersey borough of Peapack-Gladstone, approximately 50 miles west of New York City.  Ziegler arranged the financing on behalf of the joint venture.  The project is an adaptive reuse of the former Pfizer Pharmaceuticals corporate headquarters. The financing will support the development of 66 assisted living units and 30 memory care units. Dubbed CopperWood Senior …

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IllinoisNewsOperationsOregon

Senior Lifestyle Assumes Management of Two National Healthcare Properties Communities

by Hayden Spiess

BEAVERTON, Ore. and St. Charles, Ill. — Senior Lifestyle Corp. has assumed the management of two communities owned by National Healthcare Properties (NHP).  The properties include Addington Place of Canfield in Beaverton, Oregon, and River Glen of St. Charles in St. Charles, Illinois.  Senior Lifestyle now manages 18 communities on behalf of NHP. 

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Brookdale-Portfolio
FinanceNews

Brookdale Receives $248.9M Refinancing for 5,027-Unit Portfolio

by Hayden Spiess

BRENTWOOD, Tenn. — Brookdale Senior Living has received a $248.9 million loan for the refinancing of a portfolio totaling 5,027 units.  Situated in 14 states, the portfolio comprises 45 communities.  Allison Holland, Alex Sheaffer and William Roberts of JLL Capital Markets arranged the refinancing on behalf of Tennessee-based Brookdale.  The five-year, fixed-rate loan through Fannie Mae is being used to refinance one trance of a three-tranche Fannie Mae credit facility originated in 2017.  The portfolio features a full continuum of care, with properties in markets including Phoenix, Los Angeles, San Francisco, …

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MorningStar_Parker-Colorado
FeaturesFrom The Magazine

The Market Won’t Wait: What Operators Need to Get Right Before Selling

by Hayden Spiess

By Roger Mali According to a recent report by Lument, 45 percent of qualified respondents to a survey conducted by the company plan to acquire seniors housing assets this year. Meanwhile, only 14 percent plan to sell. That imbalance tells you exactly where pricing power sits.  There is a particular kind of confidence that settles over a seller’s market though, and it tends to make people sloppy. When every headline confirms that buyers are circling, when capital is abundant and occupancy is climbing, there is an assumption that you need only …

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Monarch-Portfolio
AcquisitionsNews

Monarch Alternative Capital Sells Eight-Property Seniors Housing Portfolio

by Hayden Spiess

NEW YORK CITY — Investment firm Monarch Alternative Capital has sold a portfolio of eight seniors housing properties. Together, the communities comprise more than 1,100 units across a full continuum of care.  New York City-based Monarch began acquiring the properties in 2021. According to a press release issued by the firm, the acquisitions marked a strategic move to capitalize on “the disruption in the seniors housing industry caused by COVID-19.” Amidst the senior living industry’s post-pandemic recovery, Monarch began to explore opportunistic sales.  A combination of buyers, including a publicly traded …

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