SUN CITY, Ariz. — Blueprint Healthcare Real Estate Advisors has arranged the sale of The Woodmark at Sun City, a 132-unit assisted living and memory care community located Sun City, an unincorporated municipality in metro Phoenix. A publicly traded REIT sold the property to an undisclosed buyer, which plans to install a privately owned, Southern California-based operator. The price was not disclosed. Built in 2000, The Woodmark at Sun City is a two-building campus in a residential area of the Salt River Valley. Ben Firestone, Michael Segal, Alex Florea and …
GLOVERSVILLE, N.Y. — M&T Realty Capital Corp. has provided a $14.9 million FHA-insured loan to refinance of a 176-bed skilled nursing facility in Gloversville, approximately midway between Albany and Utica. The loan was completed under the FHA 223(f) program. The 35-year loan is fully amortizing and features a fixed interest rate of 3.25 percent. Paula Quigley and Matt Pipitone of M&T Realty Capital’s Baltimore office led the transaction in collaboration with Jennifer Kooney of M&T Bank’s Tarrytown, N.Y., office. Quigley also serves as the FHA/HUD program manager for M&T Realty …
VIRGINIA BEACH, Va. — Life Care Services has taken over management of Atlantic Shores Retirement Community, a 100-acre seniors housing campus in Virginia Beach. Atlantic Shores Cooperative Association owns the property, which features 667 units of independent living, assisted living, memory care and skilled nursing.
NEWTON, Mass. — Publicly traded REIT Senior Housing Properties Trust has changed its name to Diversified Healthcare Trust and has begun trading under its new stock symbol, DHC on the Nasdaq stock exchange. “We believe [the new name] more accurately depicts both our portfolio of diverse, high-quality healthcare real estate and our strategy moving forward,” says Jennifer Francis, president and chief operating officer. “Over the past 10 years, we have made considerable progress in diversifying and enhancing what was once a pure-play senior living portfolio by strategically acquiring state-of-the-art life …
DOYLESTOWN, Pa. — Newmark Knight Frank (NKF) has arranged the sale of and financing for Solana at Doylestown, located in the Philadelphia suburbs. The 98-unit seniors housing community opened in 2014 and was 96 percent occupied at the time of sale. Ryan Maconachy and Chad Lavender of NKF represented the seller, Atlanta-based Formation Development Group. A joint-venture between LCS Senior Living and Nuveen acquired the property for an undisclosed price. Sarah Anderson and Brittany Robinson, also of NKF, secured the financing on behalf of the buyer. Solana at Doylestown provides …
NORFOLK, Va. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Thornton Hall Nursing and Rehabilitation, a 60-bed skilled nursing facility in Norfolk. A skilled nursing investor with an expanding presence in Virginia made an unsolicited offer on the property, prompting the existing owner-operator to sell. The price was not disclosed. Steve Thomes and Michael Segal led the effort on behalf of Blueprint.
CHATHAM, N.J. — M&T Realty Capital Corp. has provided a $12.1 million FHA-insured loan to refinance of a 108-bed skilled nursing facility in Chatham. The loan was completed under the U.S. Department of Housing and Urban Development (HUD) 223(f) program. The 35-year, fully amortizing loan features a fixed rate of 3.26 percent. The borrower and name of facility were not disclosed. Paula Quigley and Matt Pipitone of M&T Realty Capital’s Baltimore office, in collaboration with Jennifer Kooney of M&T Bank’s Tarrytown, N.Y. office, led the transaction. Quigley also serves as …
NOVATO, Calif. — Oakmont Senior Living has named Melon Rivera executive director of Oakmont of Novato, a senior living community in Novato, located north of San Francisco. The community is under construction, with a scheduled opening in spring 2020. Rivera has worked in the senior living industry for about a decade. Before joining Oakmont Senior Living, he was executive director at Atria Tamalpais Creek. He also spent about five years with Brookdale in various roles. Rivera attended Santa Rosa Junior College and is also a licensed pharmacy technician.
AUSTIN, Texas — Senior Resource Group (SRG) has opened Maravilla at The Domain, the company’s first community in Texas. The project is located in the heart of the residential area of The Domain, a high-density mixed-use development in the North Burnet neighborhood of Austin. The community comprises an 11-story south tower, six-story central tower and seven-story north tower, with subterranean parking, courtyards and a swimming pool. Capitalizing on The Domain’s live-work-play environment, the 370,000 square-foot development offers 144 independent living, 54 assisted living and 34 memory care units. Residents have …
NAPLES, Fla. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management, have acquired Beach House, a 113-unit assisted living and memory care community in Naples. The community is located three miles from Naples’ Fifth Avenue District, close to shopping centers, medical facilities, recreation and entertainment venues. CPF plans to make investments to improve the campus. Grace Management will take over operations. The seller was not disclosed. Although the price was also not disclosed, KeyBank Real Estate Capital provided an $18.1 million bridge loan for the …