NEW YORK CITY — KeyBanc Capital Markets Inc., the corporate and investment banking unit of KeyCorp (NYSE: KEY), has agreed to acquire Cain Brothers & Co. LLC, a New York City-based investment banking firm focused on the healthcare industry, including seniors housing.
BELLEVUE, Wash. — Transforming Age, a nonprofit operator, has hired Michael Connell as its new chief financial officer.
LIVE OAK, Texas — Drever Capital Management has announced plans for Larkspur at Live Oak, a 213-unit age-restricted community in the San Antonio suburb of Live Oak.
WESTLAND and SOUTHFIELD, Mich. — Greystone Real Estate Advisors has closed the sale of two senior living communities in the Detroit metropolitan area. Chevalier International Holdings Ltd. purchased Ashford Court and Sterling Place from New Senior Investment Group for $33 million.
LOS ANGELES — Red Stone Tax-Exempt Funding LLC recently provided $18.8 million in bond financing to BlueGreen Preservation and Development. The tax-exempt bonds will be used to acquire and rehabilitate a 90-unit portfolio of affordable seniors housing properties in the Los Angeles metro area.
ROCKY RIVER, Ohio — Berkeley Point Capital has completed three HUD 232/223(f) refinancings for JAG Healthcare Group Inc. The Rocky River-based company will use the loans toward three skilled nursing facilities in Ohio:
ORLANDO, Fla. — Triloma Financial Group has expanded its seniors housing division, Triloma Senior Housing, by hiring James Hendrix as chief investment officer. The firm is looking to acquire healthcare and seniors housing properties, and intends to offer 1031 exchange opportunities later this year.
SUMMERVILLE, S.C. — Frampton Construction Co. has completed work on The Blake at Carnes Crossroads, a 100-unit assisted living and memory care community in Summerville, approximately 25 miles northwest of Charleston.
LAKE FOREST, Calif. — Summit Healthcare REIT Inc. has acquired an interest in nine skilled nursing facilities located in the Northeast for $60 million. The names and locations of the facilities, as well as the percentage interest Summit acquired, were not disclosed.
ALLEN PARK, Mich. — Blueprint Healthcare Real Estate Advisors has brokerd the sale of Maple Heights Retirement Community, a 145-unit independent living community in the Detroit suburb of Allen Park, for an undisclosed price.