MUSKEGO and OAK CREEK, Wis. — Walker & Dunlop has arranged HUD acquisition loans for a portfolio of two seniors housing communities in the suburbs of Milwaukee. Kevin Giusti and Daniel Barone led the finance team that secured the $16 million HUD acquisition loan on behalf of the borrower, a well-versed developer, and the lender, the U.S. Department of Housing and Urban Development. The first community is Caring Alternatives of Muskego, a 34-bed/30-unit assisted living facility in Muskego. Walker & Dunlop arranged a $7.2 million loan for the transaction. The …
NORWOOD, Mass. — LCB Senior Living, a Norwood-based owner-operator, has promoted Amber Evans to vice president of memory care and resident engagement. In this role, Evans will oversee LCB’s Reflections Memory Care Program and resident engagement operations. Evans joined LCB Senior Living in 2015 as a memory care and engagement specialist before being promoted to director of memory care and resident engagement in 2021. In February, she was also named the vice chair of education outreach for the National Institute for Dementia Education’s Standard of Excellence Council. Evans is a …
ROLLING MEADOWS, Ill. — Greystone has provided a $16.8 million HUD LEAN 232/223(f) green loan to refinance a 102-unit supportive living facility in Rolling Meadows, approximately 25 miles northwest of Chicago. Plum Creek at Rolling Meadows is a three-story facility on 1.46 acres, which was constructed in 1986 as a hotel property and converted to a supportive living facility in 2006. The Supportive Living program in Illinois is an alternative to nursing home care for low-income older persons requiring mid-range care needs as opposed to skilled nursing. With the 35-year …
CINCINNATI — Blueprint Healthcare Real Estate Advisors has arranged the sale of St. Theresa Care Center in Cincinnati. A public REIT elected to execute the strategic sale of the facility following an operator transition earlier this year. St. Theresa Care Center is licensed for 92 assisted living beds and 99 skilled nursing beds. A National Historic Landmark, St. Theresa Care Center was originally built as an acute care hospital in the mid-1920s and was later expanded in the late 1950s. The building, which was ultimately converted to its current use, …
ST. PETERSBURG, Fla. — First Citizens Bank has provided a loan to refinance American House St Petersburg, a senior living community in St. Petersburg. The borrower is a joint venture between American House, Harrison Street and Prevarian Senior Living, which opened the community in 2021. This community features 66 independent living units, 66 assisted living units and 33 memory care units. Terms of the loan were not released.
ORLANDO — Spiezle, an Orlando-based architectural firm, has hired Suzanne Barnes as director of client services. Barnes has over four decades of experience in architecture, design and business development with work in senior living, healthcare and mixed-use development. She has spearheaded large-scale senior living, mixed-use design projects that serve more than 7,000 residents. Barnes is a member of the AIA National Design for Aging Advisory Board, Women in Architecture, and former chair of the Orlando Foundation for Architecture. She is currently a part of the Urban Land Institute’s Real Estate …
PORT ST. LUCIE, Fla. — Concord Summit Capital has arranged a total of $122 million in construction financing for the development of Encore at Tradition, a 415-unit active adult community underway in Port St. Lucie. David Larson, Daniel Eidson and Keegan Burger of Concord Summit arranged the financing, which comprised a $95 million principal loan and $27 million in mezzanine debt. The lenders were not disclosed. The borrower is America Walks at Port St Lucie LLC, a partnership between Pride One Construction, Brokaw Development Services and Riley Hotel Group that …
WARRENTON, Va. — Foundry Commercial has acquired White Springs Senior Living, a 90-unit seniors housing community located in Warrenton, approximately 48 miles outside of Washington, D.C. White Springs, which opened in 2020, offers assisted living and memory care services. Ryan Weekes and Zach Strunk of Foundry arranged the transaction, with support from Spring Arbor Associates. Capital Funding Group (CFG) provided funding for the acquisition. The seller, sales price and loan amount were not disclosed.
HARTLAND and GRAND BLANC, Mich. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a portfolio of two assisted living and memory care communities in Michigan. The assets are located in Harland and Grand Blanc, both south of Flint. The two properties feature a combined 122 units. The seller was a local development partnership looking to exit the industry. The buyer was a growing Michigan-based provider looking for newer, value-add opportunities. The price was not disclosed. Bradley Clousing and Daniel Geraghty led the transaction for SLIB.
FORT WAYNE, Ind. — Blueprint Healthcare Real Estate Advisors has arranged the sale of an assisted living and memory care community in Fort Wayne. Developed in 1996, this Northern Indiana assisted living and memory care community is located in close proximity to downtown Fort Wayne and offers large amenity spaces, private baths and outdoor programming areas. An institutional investor sold the asset to a behavioral healthcare provider with plans to convert the community. The price was not disclosed. The Blueprint team included Andrew Sfreddo, Shane Harmon, Gunnar Raney, Amy Sitzman …