Author

Hayden Spiess

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AcquisitionsAssisted LivingFloridaMemory CareNews

Health Wave Partners Acquires 134-Unit Community in South Florida

by Hayden Spiess

WELLINGTON, Fla. — Health Wave Partners has acquired Alamar Senior Living, a 134-unit assisted living and memory care community in Wellington. The property was 96 percent occupied at the time of sale.  AgeWell Senior Living will continue to manage the property on behalf of Health Wave. Amenities at the community include a fitness center, movie theater, beauty salon, bistro, billiards room, dog park and secure memory care courtyard. An improvement program was recently implemented at the property, including renovations to resident units, common areas, furnishings and outdoor amenities. “Alamar is an …

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Assisted LivingFinanceFloridaMemory CareNews

Helios Provides $7M HUD-Insured Financing for Community in Tampa

by Hayden Spiess

TAMPA, Fla. — Helios Healthcare Advisors has provided $7 million in HUD-insured financing for an assisted living and memory care community located in Tampa.  Built in 2018 and situated near the Tampa International Airport, the property totals 92 beds. This transaction replaces the asset’s existing floating-rate senior debt. Helios utilized the recently established HUD “Express Lane” for the financing. 

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AcquisitionsAssisted LivingIndianaMemory CareNews

Gardant Management Solutions Acquires 100-Unit Community in Indianapolis

by Hayden Spiess

INDIANAPOLIS — Gardant Management Solutions has acquired a community totaling roughly 100 units in Indianapolis.  The campus features more than 80 assisted living apartments and more than 20 memory care units.  Ryan Saul, Dan Geraghty and Bradley Clousing of Senior Living Investment Brokerage arranged the transaction on behalf of the seller. 

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CEO-Panel
FeaturesNewsOperations

Pay Seniors Housing Operators What They’re Worth, Industry Executive Urges Owners, Investors

by Hayden Spiess

By Matt Valley At least half of all seniors housing operating companies don’t make a nickel off the management of their buildings, says Jerry Frumm, vice chairman of Senior Lifestyle, a Chicago-based owner and operator. “At best, they’re breaking even on the management side. They’re making their money other ways.”  Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Some operators generate revenue through ancillary businesses or through ownership of the real estate …

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MorningStar-Albuquerque_N.M
AcquisitionsColoradoNew MexicoNews

LTC Acquires Communities in Colorado, New Mexico for $73M

by Hayden Spiess

WESTLAKE VILLAGE, Calif. — LTC Properties has acquired two communities located in Colorado and New Mexico for a combined purchase price of $73 million. Harbert Management Corp. was the seller.  Berkadia brokered the sale of the properties, MorningStar of Albuquerque in New Mexico and MorningStar of Wheat Ridge in Denver. The communities total 69 units and 64 units, respectively, with assisted living and memory care.  MorningStar Senior Living will continue to manage the properties on behalf of the new ownership.  LTC will own the communities as a senior housing operating portfolio …

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FinanceKentuckyNewsSkilled Nursing

Cambridge Arranges $21.5M Bridge-to-HUD Financing for Kentucky Skilled Nursing Facility

by Hayden Spiess

CHICAGO — Cambridge Realty Capital has arranged $21.5 million in bridge-to-HUD acquisition financing for a skilled nursing facility totaling 108 beds in Kentucky.  A regional commercial bank provided the first mortgage loan to the undisclosed borrower. Cambridge’s HUD LEAN platform will be used to refinance the bridge loan  Zach Scardina of Chicago-based Cambridge led the financing. 

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AcquisitionsNewsSkilled NursingTennessee

SLIB Arranges Sale of 98-Bed Skilled Nursing Community in Eastern Tennessee

by Hayden Spiess

SEVIEVILLE, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a skilled nursing community located in Sevieville near the foothills of the Great Smoky Mountains. The facility is situated on 9 acres and totals 98 beds.  According to SLIB, the seller, a Tennessee-based non-profit, received 18 offers for the property.  Ryan Saul and Patrick Burke brokered the transaction. 

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AcquisitionsFinanceNewsPennsylvania

Berkadia Brokers Sale of 78-Unit Assisted Living, Memory Care Community in Metro Philadelphia

by Hayden Spiess

PAOLI, Pa. — Berkadia has brokered the sale of Daylesford Crossing, a 78-unit assisted living and memory care community located 25 miles west of Philadelphia in the suburb of Paoli. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare negotiated the transaction on behalf of the seller, Boston-based investment firm AEW Capital Management. Berkadia also originated an $18 million bridge loan on behalf of the buyer, a joint venture between an Atlanta-based entity that will serve as the general partner and an institutional limited partner. …

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Company NewsFinanceNewsPeople

Frank Cassidy Returns to Walker & Dunlop as Senior Managing Director 

by Hayden Spiess

BETHESDA, Md. — Frank Cassidy has rejoined Walker & Dunlop as senior managing director, following his tenure as commissioner of the Federal Housing Administration (FHA) and assistant secretary for housing at the U.S. Department of Housing and Urban Development (HUD).  Cassidy, who previously helped grow the firm’s FHA lending platform, will advise clients on FHA and government-sponsored enterprise strategies, helping clients navigate the changing policy and capital markets environment.   “Frank returns to Walker & Dunlop at a defining moment in the housing industry,” says Sheri Thompson, executive vice president and head of …

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Company NewsNewsPeople

MonticelloAM Adds Jason Liu as Deputy Chief Financial Officer 

by Hayden Spiess

NEW YORK CITY — Seniors housing and multifamily bridge lending platform MonticelloAM has added Jason Liu to its accounting team as deputy chief financial officer. Liu will oversee investor and lender reporting, manage liquidity, review financial statements and support accounting workflows.   “Mr. Liu’s deep experience in real estate finance and his track record managing complex reporting for large, institutional-scale portfolios make him a strong addition to our team,” says Jonathan Litt, Principal & Co-founder of MONTICELLOAM. “His expertise will strive to bring added rigor and clarity to our financial operations as we scale.”  …

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