BMO Harris Arranges $28M Acquisition Financing for CCRC in Georgia

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.

The community features 253 independent living units (including 72 cottages, 40 “personal care units,” 25 assisted living units and 65 skilled nursing beds. Life Care Services will manage the community. The seller was not disclosed.

TH Real Estate, an affiliate of Nuveen (the investment management arm of TIAA), is one of the largest real estate investment managers in the world with $109 billion of assets under management. LCS, the parent company of Life Care Services, has been an industry leader in the development, ownership, marketing, and management of senior living communities since 1971. 

LCS and TH Real Estate entered into a joint venture in second-quarter 2018 to invest in core, value-add and development investment opportunities in the seniors housing space.