Author

Hayden Spiess

Hayden-Grove_Bloomington-Minn
AcquisitionsAssisted LivingIndependent LivingMemory CareMinnesotaNews

Verdot Capital Sells 166-Unit Community in Metro Minneapolis

by Hayden Spiess

BLOOMINGTON, Minn. — Verdot Capital has sold Hayden Grove Bloomington, a 166-unit seniors housing community located in Bloomington, a suburb of Minneapolis. An undisclosed buyer acquired the property. JLL Capital Markets brokered the transaction on behalf of the seller.  Constructed in 2021, Hayden Grove Bloomington features a four-story building with a full continuum of care. Amenities at the community include underground parking, a private dining room, bistro, coffee lounge, game room, party room, theater, event center, library, craft room, fitness program, beauty salon and community rooms. The operator, Great Lakes Management, …

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Affordable HousingDevelopmentFinanceMarylandNews

Walker & Dunlop Arranges $40M Financing for New Affordable Seniors Housing Development in Metro D.C. 

by Hayden Spiess

HYATTSVILLE, Md. — Walker & Dunlop has arranged $40.5 million in debt and equity for a new affordable seniors housing development in Hyattsville, roughly seven miles east of downtown Washington, D.C. Community Housing Initiative, which is developing the project in partnership with First Baptist Church of Highland Park, is the borrower.  Upon completion, The Highlands will total 137 units for residents age 62 and older. Five of the residences will be reserved for seniors earning at or below 50 percent of the area median income (AMI), with the remaining 132 apartments …

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AcquisitionsIndependent LivingMassachusettsNews

Sunshine Retirement Living Sells 140-Unit Community in Massachusetts

by Hayden Spiess

METHUEN, Mass. — Sunshine Retirement Living (SRL) has sold The Woods at Merrimack, a 140-unit independent living community located in Methuen, a city located on the New Hampshire border.  A joint venture between Capitol Seniors Housing and a global alternative asset manager acquired the property for an undisclosed price.  SRL will continue to operate the community on a third-party basis on behalf of the new ownership. 

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Lodge-North-Ogden_North-Ogden-Utah
AcquisitionsAssisted LivingIndependent LivingMemory CareNewsUtah

Blueprint Brokers Sale of 122-Unit Property in Utah

by Hayden Spiess

NORTH OGDEN, Utah — Blueprint has brokered the sale of The Lodge at North Ogden, a 122-unit senior living property located in North Ogden, roughly 50 miles north of Salt Lake City.  Opened in 2019, the community features independent living, assisted living and memory care residences.  An undisclosed, non-traded REIT partnered with a regional operator and acquired the property for an undisclosed price. Amy Sitzman and Giancarlo Riso of Blueprint arranged the transaction on behalf of the seller. 

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HarborChase-Beachwalk_St.Johns-Fla
Assisted LivingDevelopmentFinanceFloridaIndependent LivingMemory CareNews

Protea Capital Partners Receives $34.5M Construction Financing for Seniors Housing Community in Florida

by Hayden Spiess

ST. JOHN’S, Fla. — Protea Capital Partners has received a $34.5 million loan for the construction of a new seniors housing community in St. John’s. Olga Walsh, Aaron Rosenzweig and Dan Baker of JLL Capital Markets arranged the five-year financing on behalf of Protea.  Situated within the Beachwalk master-planned community, HarborChase of Beachwalk will feature 172 units, with 82 independent living, 66 assisted living and 24 memory care residences across multiple buildings. Amenities at the property will include a bar, bistro, beauty salon, arts and crafts room, theater, billiards room, fitness …

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AcquisitionsAssisted LivingCaliforniaFinanceMemory CareNews

Berkadia Arranges Sale, Financing of Two Communities in Southern California

by Hayden Spiess

SAN DIEGO and LOS ANGELES — Berkadia has arranged the sale and financing of two senior living communities located in Southern California.  Situated within suburbs of San Diego and Los Angeles, respectively, the properties include an 84-unit assisted living community and a 72-unit memory care community. Together, the communities were roughly 90 percent occupied at the time of financing.  Mike Garbers, Cody Tremper, Ross Sanders and Dave Fasano of Berkadia brokered the sale on behalf of the seller, a private owner. Ed Williams and Steve Muth of Berkadia secured acquisition financing …

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FinanceNewsNorth CarolinaSkilled Nursing

MonticelloAM Provides $48.1M Financing for Skilled Nursing Portfolio in North Carolina

by Hayden Spiess

NEW YORK CITY — MonticelloAM has provided $48.1 million in bridge and working capital financing for a skilled nursing portfolio located in North Carolina. The borrower was not disclosed.  The portfolio totals more than 300 beds across three facilities. In addition to a $45.6 million bridge loan, the financing includes a $2.5 million working capital line of credit.  “We focus on giving operators the resources they need to deliver strong care,” says Kim Gordon of New York City-based MonticelloAM. “With the $2 million working capital line of credit, we demonstrate our …

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Affordable HousingDevelopmentIowaNews

Woda Cooper Cos., Parallel Housing Break Ground on 52-Unit Affordable Housing Development in Iowa

by Hayden Spiess

DAVENPORT, Iowa — Woda Cooper Cos. Inc. and nonprofit Parallel Housing Inc. have broken ground on a new 52-unit affordable housing development located in Davenport.  Units at the community, dubbed Timber Ridge, will be reserved for seniors age 62 and older earning at or below 40 and 60 percent of the area median income. Monthly rental rates for the one- and two-bedroom apartments are expected to range from $565 to $975.  Financing for the project includes a HOME loan from the City of Davenport and the allocation of nine percent housing …

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AcquisitionsColoradoNewsSkilled Nursing

Kiser Group Brokers $13M Sale of Skilled Nursing Facility Near Colorado Springs

by Hayden Spiess

WOODLAND PARK, Colo. — Kiser Group has brokered the $13 million sale of a skilled nursing facility located in Woodland Park, roughly 20 miles northwest of Colorado Springs. The property, Forest Ridge, was 95 percent occupied at the time of sale.  Cottonwood acquired the facility, adding to its portfolio of more than 30 skilled nursing properties in the state.  Mark Myers of Kiser Group arranged the transaction. “Forest Ridge was an appealing opportunity because it aligns perfectly with Cottonwood’s strategy of acquiring quality, well-located facilities in markets with strong operational fundamentals,” …

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FeaturesIndustry VoicesOperations

On a Mission to Improve Patient Care? Start By Solving Staff Burnout

by Hayden Spiess

By Curtis Forbes, MustardHub Assisted living, memory care, skilled nursing — whatever the care level, senior living facilities exist to help residents live well. Residents should not just survive, but actually thrive. The secret to making that happen isn’t fancy tech or spa-like amenities. It’s the people on the floor. When staff are trained, engaged and actually cared for themselves, residents receive better care. As staff satisfaction goes up, the number of mistakes goes down. The inverse is also true. Burned-out staff don’t stick around, and the residents pay the …

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