Author

Jeff Shaw

AcquisitionsMississippiNewsSkilled Nursing

SLIB Negotiates Sale of 66-Bed Trace Extended Care in Houston, Mississippi

by Jeff Shaw

HOUSTON, Miss. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Trace Extended Care, a 66-bed skilled nursing facility in Houston. Located in Chickasaw County, the property is 30 miles southwest of Tupelo and five miles north of the Natchez Trace Parkway. The seller is Sunlink Health Systems Inc. (NYSE: American SSY), which was looking to redeploy capital and focus on its core business. The buyer is a Mississippi-based group looking to add to its existing presence in Mississippi. Daniel Geraghty and Bradley Clousing handled the transaction for …

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NewsPeople

Merrill Gardens Adds Melanie Werdel, Madisen Medley to Senior Leadership Team

by Jeff Shaw

SEATTLE — Merrill Gardens, a Seattle-based owner-operator, has added Melanie Werdel and Madisen Medley to its senior leadership team. Werdel is now the vice president of risk management for Merrill Senior Living and sister company Pillar Properties. She has over 30 years of experience in senior living including her tenure as a member of the senior leadership team at Emeritus. Prior to joining Merrill Gardens, she was a consultant to senior living companies, tapping into her expertise in healthcare, compliance and administration. Werdel is also one of the original senior …

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Affordable HousingDevelopmentMinnesotaNews

Volunteers of America Completes 80-Unit Nolte River Place Affordable Community in Anoka, Minnesota

by Jeff Shaw

ANOKA, Minn. — Volunteers of America National Services has opened Nolte River Place, an affordable seniors housing development in Anoka, a suburb north of Minneapolis. The 80-unit community provides one- and two-bedroom units, eight units for formerly unhoused veterans and 10 designated units for Project Rental Assistance Contracts (PRAC) vouchers.  Nolte River Place is near the Rum River Trail, Northstar Line commuter rail and downtown Anoka.

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AcquisitionsAlabamaAssisted LivingFinanceNews

Helios Arranges Sale of, Financing for Community in Alabama

by Jeff Shaw

ALABAMA — Helios has structured the sale and acquisition financing of an assisted living and memory care community in Alabama. A Mississippi-based regional owner-operator, Veritas InCare, sold the asset to a local owner-operator. The price and other details were not disclosed. Despite the community’s strong performance, dislocation in the debt markets and low liquidity impacted the buyer’s ability to use its existing lending relationships to fund the purchase. Helios stepped in to assist the buyer and structured a financing package with a regional lender that recapitalized the buyer’s existing community …

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AcquisitionsAssisted LivingIdahoNews

SLIB Arranges Sale of 95-Unit Copper Springs Senior Living in Meridian, Idaho

by Jeff Shaw

MERIDIAN, Idaho — Senior Living Investment Brokerage (SLIB) has arranged the sale of Copper Springs Senior Living, an assisted living and memory care community in Meridian, just west of Boise. The community consists of 95 units and 105 beds was built in 1969 with remodeling done in 2013. The property totals 49,664 square feet on approximately five acres of land. The seller is a REIT divesting to exit operations in the state of Idaho. The buyer is an Idaho-based owner-operator expanding their footprint in the state. The price was not …

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FinanceNewsPeople

Capital Funding Group Hires David Casden as Vice President of Capital Markets Distribution

by Jeff Shaw

BALTIMORE — Capital Funding Group (CFG), a Baltimore-based lender, has hired David Casden as vice president of capital markets distribution. Formerly managing director of sales and trading/pricing at Lument Real Estate Capital, Casden brings nearly two decades of experience to CFG. Casden joins the CFG team to lead the augmentation of loan distribution efforts, with a primary focus on establishing capital markets relationships and implementing structured distribution vehicles to complement the company’s existing loan syndication efforts. He will work closely with the loan origination teams to inform them of market …

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Active AdultDevelopmentMassachusettsNews

United Group Breaks Ground on 123-Unit The Arbella at Bramble Hill in Worcester, Massachusetts

by Jeff Shaw

WORCESTER, Mass. — The United Group of Companies has broken ground on The Arbella at Bramble Hill, a 123-unit active adult community in Worcester. “The housing is needed,” says Worcester Mayor Josephy Petty. “It’s one of the big priorities of the state. And all types of housing are needed.” The Arbella at Bramble Hill, which will span 17 acres, will be one of the city’s only active adult communities upon completion. The community will feature one- and two-bedroom apartment units spread across three elevator-serviced buildings. There will also be an …

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AcquisitionsAssisted LivingNewsSouth Carolina

Kauhale Health Acquires 92-Unit The Parker in Greenville, South Carolina

by Jeff Shaw

GREENVILLE, S.C. — Kauhale Health has acquired The Parker, an assisted living and memory care community in Greenville. The Parker will be rebranded as Kauhale Pettigru. Situated in Pettigru Historic District one mile from downtown Greenville and Greenville Zoo, the 66,765-square foot property sits on 3.5 acres. The property was constructed in 2001 and was renovated over the last 36 months, including both common areas and more than one third of the units. The community offers 75 assisted living and 17 memory care private suites, all of which are private-pay units. …

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AcquisitionsAssisted LivingNewsOklahoma

Blueprint Brokers Sale of 52-Unit Community in Oklahoma City

by Jeff Shaw

OKLAHOMA CITY — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 52-unit assisted living and memory care community in Oklahoma City. The sale was part of a larger portfolio of more than a dozen geographically disparate, older-vintage communities that Blueprint is brokering for a national developer and investor. Opened in 2000, the was 99 percent occupied but “stood to benefit from a refresh to sustain and further drive operating performance,” according to Blueprint. A regional owner-operator acquired the asset for an undisclosed price. Giancarlo Riso, Amy Sitzman …

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