Author

Jeff Shaw

CaliforniaFinanceNewsSkilled Nursing

G Capital Markets Provides $9.6M HUD Refinancing for Trellis Chino in California

by Jeff Shaw

CHINO, Calif. — G Capital Markets, a new advisory firm launched this summer by Grant Goodman, has arranged a $9.6 million HUD refinancing for Trellis Chino, a skilled nursing facility in Chino. Built in 2018, the community comprises all private rooms and exclusively cares for short-term, high-acuity rehabilitation patients. After leasing up during COVID, the building has performed strongly with near 100 percent occupancy, according to G Capital. The borrower, Encore Capital Ventures, is a real estate investment and capital solutions firm with a portfolio of healthcare and other real …

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CaliforniaFinanceNewsSkilled Nursing

CFG Funds $43.4M HUD Refinancing for Skilled Nursing Facility in Bakersfield, California

by Jeff Shaw

BAKERSFIELD, Calif. — Capital Funding Group (CFG) has provided a $43.4 million HUD loan for a 140-bed skilled nursing facility in Bakersfield. The transaction converts an existing bridge loan into a HUD loan following the property’s stabilization.  The initial financing, also executed by CFG, allowed the nationally recognized borrower to acquire the property. Patrick McGovern originated the transaction for CFG.

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NewsPeople

Watercrest Promotes Johnita Jackson-Hannah to Vice President of Clinical Operations

by Jeff Shaw

VERO BEACH, Fla. — Watercrest Senior Living Group, a Vero Beach-based operator, has promoted Johnita Jackson-Hannah to vice president of clinical operations. The announcement comes on the cusp of her five-year anniversary with the organization, having joined the Watercrest family in the fall of 2018 as a clinical specialist. After joining Watercrest in 2018, Jackson-Hannah quickly advanced into the role of regional clinical director, successfully leading a rapidly growing number of clinical teams as Watercrest Senior Living expanded by nearly a dozen communities from Florida to Virginia. Jackson-Hannah’s clinical expertise …

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CCRCDevelopmentIndependent LivingNewsTexas

Morningside Ministries Plans 86-Unit Expansion for Morningside at Menger Springs in Boerne, Texas

by Jeff Shaw

BOERNE, Texas — Morningside Ministries has unveiled plans for an independent living expansion at Morningside at Menger Springs, a continuing care retirement community in Boerne, approximately 30 miles northwest of San Antonio. The project features 86 new independent living terrace homes, an amphitheater, dining venue, fitness center, pickleball court and covered pool. The plan features four two-story residential buildings with one and two-bedroom floor plans ranging from 946 to 1,751 square feet. The expansion will incorporate an additional eight acres adjacent to the community’s 34-acre property near Menger Creek.  Construction …

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AcquisitionsAssisted LivingConnecticutNews

Blueprint Arranges Sale of 100-Unit The Landing of North Haven in Connecticut

by Jeff Shaw

NORTH HAVEN, Conn. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of The Landing of North Haven, a 100-unit assisted living and memory care community in North Haven. Located near Long Island Sound south of Hartford, the community opened in late 2019 on an 11-acre campus. The seller is a national investor and developer. Inspired Healthcare Capital acquired the asset for an undisclosed price. Inspired plans to keep the existing operator. While lease-up progress was solid through COVID, rates and margin were always strong, leading to meaningful cash …

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DevelopmentIllinoisNews

The Danish Home of Chicago Breaks Ground on 14-Unit Expansion

by Jeff Shaw

CHICAGO — The Danish Home of Chicago, an independent seniors housing community in Chicago, has broken ground on a 14-unit expansion. The Danish Home of Chicago was established in 1897 by 12 Danish women to provide a comfortable, safe life for elderly Danes. Today, the boutique, nonprofit community offers all levels of care to people 62 and older without regard to nationality, faith or sexual orientation.  Currently home to 41 seniors when fully occupied, the new Garden Suites will allow an additional 14 people to live at the community. The …

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DevelopmentMarylandNews

Brightview Opens Welcome Center at 178-Unit Development in Cockeysville, Maryland

by Jeff Shaw

COCKEYSVILLE, Md. — Brightview Senior Living has opened the welcome center at Brightview Hunt Valley, a 178-unit seniors housing development in Cockeysville, approximately 15 miles north of Baltimore. Brightview Hunt Valley is currently under construction within the Hunt Valley Towne Center shopping center and will open in summer 2024. The community will offer independent living, assisted living and memory care services. As a privately owned company, Brightview Senior Living builds new communities through a combination of private investment funds and traditional bank loans. Brightview Hunt Valley is one of 13 …

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AcquisitionsFinanceGeorgiaNews

Ziegler Advises on $20.5M Acquisition Financing for The Glen at Lake Oconee Village in Greensboro, Georgia

by Jeff Shaw

GREENSBORO, Ga. — Ziegler acted as exclusive financial advisor in raising $20.5 million in financing.  The borrower, Phorcys Capital Partners, will use the funds to acquire The Glen at Lake Oconee Village, a senior housing community in Greensboro, approximately midway between Atlanta and Augusta. Stride Bank provided the capital. The community was built in 2017 and features 28 independent living units, 68 assisted living units and 18 memory care units.

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AcquisitionsNewsSkilled NursingVirginia

Blueprint Negotiates Sale of 120-Bed The Laurels of Willow Creek in Midlothian, Virginia

by Jeff Shaw

MIDLOTHIAN, Va. — Blueprint Healthcare Real Estate Advisors has arranged the sale of The Laurels of Willow Creek, a 120-bed skilled nursing facility in the Richmond suburb of Midlothian. Built in 1991 with an addition completed in 2018, the facility features 36 private suites and 42 semi-private rooms. Blueprint utilized the underlying performance trends fueled by Virginia’s Medicaid rate enhancement tailwinds. The buyer and seller were both REITs. The price was not disclosed. Michael Segal and Ben Firestone led the Blueprint team.

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ColoradoDevelopmentNewsVirginia

Brinkmann Constructors Breaks Ground on Three Seniors Housing Communities

by Jeff Shaw

LITTLETON, Colo., and FAIRFAX and RICHMOND, Va. — Brinkmann Constructors broke ground on three seniors housing projects in August. The company started construction on an additional residential building in the Wind Crest Senior Living community in Littleton. The seven-story, 195,000-square-foot building will include 94 units and an underground parking garage.  Having worked on Wind Crest projects since 2012, this will be the 12th building Brinkmann has built on the campus. Completion of the new facility is slated for June 2025.  Brinkmann also broke ground on its 24th project for Erickson …

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