ATLANTA — The seniors housing business is beset with labor concerns, and developers and operators are convinced that the solution lies in upping the number of millennials on staff.
MILLBRAE, Calif. — Cadence Living, a senior living development and management company based in Arizona has acquired Marymount Greenhills Retirement Center an undisclosed price.
RENSSELAER, N.Y. — Red Stone Tax-Exempt Funding LLC has provided $20.2 million in tax-exempt bonds for the rehabilitation of two affordable seniors housing communities in Rensselaer, located just across the Hudson River from downtown Albany.
PORTLAND, Ore. — Live Oak Bank has provided financing to Frontier Management and its affiliates in connection with the buy-out of a 50 percent interest in the company held by an institutional private equity investor.
BUTLER, Pa. — SunTrust has served as joint lead arranger and Ziegler as placement agent for a $71 million refinancing for Quality Life Services. The Butler-based healthcare services company will use the funds for an expansion of its communities, which include skilled nursing facilities and continuing care retirement communities (CCRC).
SARASOTA, Fla. — Watercrest Senior Living Group and United Properties have broken ground on Watercrest Sarasota Senior Living Community, a 198-unit property in Sarasota, just south of Tampa.
NASHVILLE, Tenn. — Walker & Dunlop Inc. has arranged $19.5 million in financing for the acquisition and rehabilitation of Dandridge Towers, an affordable seniors housing community in Nashville.
TALLAHASSEE, Fla. — SRI Management LLC, a Tallahassee-based operator, has been selected to manage five Superior Residences-branded communities in Florida.
EVANS, Ga. — BMO Harris Bank’s Healthcare Real Estate Finance group has closed on $28 million in financing. The borrowers, TH Real Estate and LCS, will use the funds to acquire Brandon Wilde, a continuing care retirement community in the Augusta suburb of Evans.
MILLCREEK, Utah — Live Oak Bank has provided $5 million in financing. The borrower, All Seasons Health Services Co., will use the funds to acquire two assisted living properties in the Salt Lake City suburb of Millcreek.