ATLANTA — Skyline Healthcare LLC will execute a purchase option on the master lease for the nine Arkansas skilled nursing facilities it currently operates for AdCare Health Systems Inc. (NYSE MKT: ADK) (NYSE MKT: ADK.PRA). Skyline will purchase the properties for $55 million.
ALBUQUERQUE, LAS CRUCES and ROSWELL, N.M. — The Community Development Trust (CDT), an affordable housing REIT, and YES Housing Inc., an affordable housing operator, have formed a joint venture to recapitalize three YES-operated properties in New Mexico.
SUNNYVALE, Texas — Civitas Senior Living has broken ground on Long Creek Assisted Living and Memory Care, a 75-unit community in the Dallas suburb of Sunnyvale.
CARMEL, Ind. – Mainstreet, a skilled nursing developer, has added three new hires to its headquarters in the Indianapolis suburb of Carmel.
TINTON FALLS, N.J. — Formation Development Group and an unnamed second investor has acquired Kensington Court, a seniors housing community in Tinton Falls, approximately 30 miles south of New York City. The price was not disclosed.
CASSELBERRY, Fla. — Allegro Senior Living has broken ground on an unnamed luxury seniors housing community in the northern Orlando suburb of Casselberry. Development costs are estimated at $45 million.
WICHITA, Kan. — Presbyterian Manors of Mid-America, a nonprofit operator of 18 communities in Missouri and Kansas, has completed a $35 million expansion at Wichita Presbyterian Manor, a continuing care retirement community in Wichita.
AUSTIN, Texas — Buckner Retirement Services is set to break ground on a $29.8 million expansion and remodel at Buckner Villas, a 25-acre continuing care retirement community in Austin.
SAN MARCOS, Calif., and ARLINGTON HEIGHTS, Ill. — Capital Funding Group, a lender based in Baltimore, has provided a $6.8 million bridge-to-HUD loan for Village Square Skilled Nursing Facility and a $19.8 million HUD construction loan for Transitional Care of Arlington Heights.
WOODBURY, N.J. — Atrium Health & Senior Living has opened the doors on Atrium Post Acute Care of Woodbury, a 124-bed skilled nursing facility in Woodbury, located across the Delaware River from Philadelphia.