FOLSOM, Calif. — Cogir Senior Living has completed renovations at Cogir of Folsom, an assisted living community in Folsom, approximately 20 miles northeast of Sacramento. Cogir of Folsom specializes in full-time memory care and short-stay respite care. The three-phase project included the Lake Tahoe Room, a sensory experience meant to re-create vacation visits to nearby Lake Tahoe.
WISCONSIN — Ziegler has arranged the sale of an 80-bed skilled nursing and assisted living facility in Washburn County, Wisconsin. The seller was a 501(c)(3) nonprofit organization serving elderly and disabled people across the Upper Midwest. A local operator acquired the asset for an undisclosed price.
QUINCY, Mass. — Nixon Peabody LLP has negotiated a Green & Resilient Retrofit Program (GRRP) transaction for Bauer House, a seniors housing community in the Boston suburb of Quincy. Wollaston Lutheran Church owns the property. The transaction also involved a Rental Assistance Demonstration (RAD) conversion and FHA-insured Section 223(f) loan originated by Hampden Park Capital and made by Lument Real Estate Capital. Bauer House, a subsidized residence for independent seniors, will use the GRRP funds and FHA-insured loan proceeds to finance a new energy-efficient HVAC system and to make accessibility …
MARYLAND — Capital Funding Group (CFG) has provided a $20 million bridge-to-HUD loan to refinance debt on a 125-bed skilled nursing facility in Maryland. Tim Eberhardt and Ava Julio led the CFG team. Further details were not disclosed.
LAS CRUCES, N.M. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 50-bed transitional care facility in Las Cruces, approximately 45 miles northwest of El Paso, Texas. The community was built in 2017 and is strategically located within two miles of three short-term acute care hospitals that offer Medicare referral opportunities. With trailing EBITDAR (earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs) approaching $745,000 at the time of marketing, the facility presented an acquisition opportunity for a regionally focused owner-operator to realize immediate cash …
RANCHO SANTA FE, Calif. — Belmont Village Senior Living and Greystar Real Estate Partners have unveiled plans for Belmont Village Rancho Santa Fe, a luxury active adult community in Rancho Santa Fe, approximately 25 miles north of San Diego. Groundbreaking is scheduled to occur before the end of the year. The project will feature over 185 apartments including 15 freestanding cottages. The leaders of both Greystar and Belmont Village, Jerry Brand and Patricia Will, are long-term residents of Rancho Santa Fe. Belmont Village Rancho Santa Fe will be Belmont Village’s …
BASTROP and MINDEN, La. — Helios Healthcare Advisors served as the exclusive buy-side advisor and debt-placement agent in structuring the purchase of two assisted living communities in North Louisiana. The buyer is an independent investment group based in Texas and Louisiana. Savannah Court of Bastrop and Savannah Court of Minden are two assisted living communities that were owned by a public REIT and operated by a regional provider under a triple-net lease. Built in the late 1990s, both communities boasted a historical average occupancy of 90 percent and maintained positive …
With operating fundamentals on the rise and demographics on their side, this growing group of investors in seniors housing believes the stars are aligned to achieve healthy returns. By Jane Adler While some longstanding private equity groups in seniors housing remain on the sidelines as they work through the operational challenges created by the COVID-19 pandemic, others are making investments in the sector. Fund managers are raising capital and seeking investment opportunities. New private equity players are emerging. And more private equity groups are entering into joint ventures and forging …
Strong demographics and — hopefully — an end to interest rate increases make for a strong return for seniors housing lending. Roundtable participants Steve Kennedy Executive Managing Director VIUM Capital Michael Gehl Chief Investment Officer, FHA Lending NewPoint Real Estate Capital Don Kelly Senior Managing Director Locust Point Capital Bill Lewittes Senior Managing Director,Loan Origination, Real Estate Kayne Anderson Alex Loo Director Hudson Realty Capital Perry Freitas Managing Director Hudson Realty Capital Michael Coiley Managing Director, Healthcare Finance First Citizens Bank Ken Assiran Managing Director, Seniors Housing CFG By Jeff …
Seniors housing veteran launches active adult development firm in the Southwest. By Jeff Shaw Ben Burke cut his teeth as an executive at two major seniors housing owner-operators, Spectrum Retirement Communities and Anthology Senior Living, the latter of which is the seniors housing arm of developer CA Ventures. But, as so often happens with individuals who possess an entrepreneurial spirit, he got the itch to run his own company. At the end of 2021, he left Anthology and launched active adult developer Headwaters Group in early 2022. “I felt like …