By Hayden Spiess Professionals active in the seniors housing lending space say that the sector is somewhat insulated from cyclical economic headwinds relative to other types of commercial real estate. Even so, lenders and borrowers have not been exempt from contending with factors such as elevated interest rates. Though the secured overnight financing rate (SOFR) has declined meaningfully year over year, the U.S. 10-year Treasury yield has remained largely unchanged. Widespread geopolitical turmoil is also creating uncertainty around not only interest rates, but also the outlook for inflation and other …
Hayden Spiess
CHICAGO — Plante Moran Living Forward, the senior living development advisory division of firm Plante Moran Realpoint, has added Adam Heavenrich to the organization. Heavenrich, who brings more than 30 years of experience advising within the seniors housing sector, will lead the capital markets practice, with a focus on structured finance, senior living and sale-leaseback transactions. According to the company, the addition of Heavenrich will expand Plante Moran Living Forward’s ability to deliver integrated transaction and capital markets advisory services within the senior living sector. “Senior living providers are facing unprecedented …
SAN FRANCISCO — Senior living software company Cubigo has appointed a new chief growth officer. Chris Mohrman, who has previously held roles with both Markentum and WelcomeHome, will assume the role. Mohrman will lead sales and marketing operations, oversee go-to-market strategy and drive pipeline and revenue growth. “I’m thrilled to begin my new role as VP of Growth at Cubigo and partner with an incredible team focused on innovation in senior living,” says Mohrman. “In this role, I will be helping accelerate growth, strengthen industry partnerships and most importantly create …
HOUSTON — The NHP Foundation (NHPF), an affordable housing developer, with Trinity East Village Community Development Corp. (TECDC) and Housing Alliance HTX, will develop a new affordable seniors housing community in Houston. Dubbed Trinity East Senior Village, the property will comprise 90 units for residents age 55 and older in the Third Ward neighborhood of Houston. Of the 90 residences, 60 will serve as replacement housing for residents of the Housing Alliance HTX’s Cuney Homes community, which is currently undergoing redevelopment. Trinity East Senior Village will serve extremely low- and low-income …
MOORE COUNTY, N.C. — Berkadia has arranged a $12.5 million HUD-insured loan for the refinancing of a skilled nursing property located in Moore County, North Carolina. Built in 1992, the facility totals 144 beds. The borrower has operated the property since 2019. In 2024, the borrower exercised an option from the original lease to acquire the leased fee interest in the community. The new loan will be used to retire all acquisition-related financing. Jay Healy and Andrew Lanzaro of Berkadia secured the financing on behalf of the borrower.
LYNNWOOD, Wash. — JLL Capital Markets has brokered the sale of Fairwinds Brighton Court, a senior living community located in Lynnwood, roughly 16 miles north of Seattle. Situated on 4.4 acres, the property totals 182 units. Residences at the community, which was built in 1988, include independent living and assisted living units in studio, one- and two-bedroom layouts. Amenities at the property include a full-service restaurant, bistro, fitness center, salon, library, billiards room and courtyard. Leisure Care will continue to manage the community on behalf of the buyer, a publicly traded …
CHICAGO — Ventas has appointed an interim general counsel. Kevin Bohl will assume the role upon the departure of the current general counsel, Carey Roberts. Roberts intends to resign effective June 26 and will join Blackstone as senior managing director and general counsel of real estate. Bohl, who joined Ventas in 2011, currently serves as senior vice president, deputy general counsel and assistant corporate secretary at the company. Bohl and his team provide strategic and legal advice to on transactional and asset management matters for Ventas. Prior to joining Ventas, he …
NEW YORK CITY — MonticelloAM has provided a $36.5 million bridge loan for the acquisition of a senior living community located in Massachusetts. The borrower was not disclosed. The property totals 260 licensed beds and offers skilled nursing, assisted living, independent living and memory care. Karina Davydov of New York City-based MonticelloAM originated the financing.
WASHINGTON, D.C. — Capitol Seniors Housing acquired 571 units of seniors housing across four communities. The properties include Village Park Fayetteville in Fayetteville, Georgia; Coastal Heights Senior Living in Costa Mesa, California; The Residences at Plainview in Plainview, New York; and The Woods at Merrimack in Methuen, Massachusetts. Village Park Fayetteville offers independent living, assisted living and memory care. The other properties feature independent living residences. Capitol Seniors Housing is headquartered in Washington, D.C.
EAST BRUNSWICK, N.J. — A joint venture between National Development and an affiliate of Benchmark Senior Living is currently underway on the development of a new community in East Brunswick. Upon completion, Benchmark at East Brunswick will total 87 units and 100 beds for assisted living and memory care residents. Amenities at the property, which will total 84,276 square feet across three stories, will include multiple dining venues, a theater, fitness center, salon and outdoor spaces. Construction has begun, and the opening is scheduled for 2028. JLL Capital Markets recently arranged …