STILLWATER, Minn. ─Intergenerational Living & Health Care Inc. (ILHC) has completed construction of Phase I at The Lakes at Stillwater, an independent living, assisted living and memory care community in the Minneapolis suburb of Stillwater.
PHILADELPHIA — Institutional Property Advisors has brokered the sale of three DePaul Health Care nursing homes in the Delaware Valley Region.
VERO BEACH, Fla. — Watercrest Senior Living Group has promoted Sheena Jeffries to the executive leadership team in a newly created role as engagement specialist.
GALLATIN, Tenn. — Patriot Angels, an aid and attendance organization serving veterans, has broken ground on a 30,000-square-foot office complex.
NEW YORK CITY — Berkadia has provided $104.3 million in financing for Workmen’s Circle Multicare Center, a skilled nursing facility in the Bronx.
CORNELIUS, N.C. — A group of local developers have unveiled plans for Cornelius Woods, an active adult community in Cornelius.
TUSTIN, Calif. — CBRE has arranged $15 million in Fannie Mae financing for The Groves of Tustin.
YUMA and FLAGSTAFF, Ariz. — The Weitz Company and Arizona Department of Veterans’ Services (ADVS) are preparing to break ground on a new Arizona State Veteran Home in Yuma. This will be the second such home built by the partnership, having recently broken ground on another in Flagstaff.
NEW YORK CITY — New Senior Investment Group Inc. (NYSE: SNR), a publicly traded seniors housing owner-operator based in New York, has appointed Justin Hutchens as an independent director to the company’s Board of Directors.
Coming out of the financial crisis, cash-out financing became a term that virtually no commercial real estate sponsor dared utter. Lenders and regulators took a dim view of the practice, which, as a product of lax underwriting standards that helped fuel the crisis, too often allowed borrowers to retain only a sliver of equity in their properties. And few landlords had the capacity to strike cash-out deals anyway, given the drop in commercial property values. As commercial real estate values have recovered, however, lenders have become agreeable to making cash-out …