Acquisitions

AcquisitionsAffordable HousingFinanceFloridaNews

Greystone Provides $11.9M Acquisition Financing for Affordable Property in Tavares, Florida

by Jeff Shaw

TAVARES, Fla. — Greystone has provided an $11.9 million Fannie Mae Multifamily Affordable Housing (MAH) loan for the acquisition of a senior living community in Tavares, a northwestern suburb of Orlando. Carter King, managing director in Greystone’s Atlanta office, originated the transaction. Hallmark Lakepoint Senior LLC was the borrower. Constructed in 2006, Lake Point Senior Apartments is a 160-unit, LIHTC, age-restricted, three-story apartment complex. The seller and total price were not disclosed. The non-recourse, fixed-rate financing carries a 10-year term and 35-year amortization.

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AcquisitionsActive AdultNewsTexas

Castle Lanterra Acquires Laurel at Vintage Park Active Adult Community in Tomball, Texas

by Jeff Shaw

TOMBALL, Texas — Castle Lanterra Active Adult, a division of Castle Lanterra, has completed its third major acquisition in the active adult asset class with the purchase of Laurel at Vintage Park in the Houston suburb of Tomball. With this most recent acquisition, the firm has accumulated over $125 million of assets in the active adult sector during 2022. Coastal Ridge sold the asset for an undisclosed price. Built in 2014, Laurel at Vintage Park is a 120-unit residential community strategically positioned next to Vintage Park, a destination for businesses, …

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AcquisitionsAssisted LivingGeorgiaNews

CBRE Arranges Sale of 85-Unit Thrive at Augusta in Georgia

by Jeff Shaw

AUGUSTA, Ga. — CBRE National Senior Housing has arranged the sale of Thrive at Augusta, a Class A assisted living and memory care community. Located in the heart of Augusta, the 85-unit community was built in 2019 and was fully occupied at the time of sale. Drake Real Estate Partners sold the asset to Inspired Healthcare Capital. While the price was not disclosed, CBRE also arranged $16.8 million in acquisition financing for the buyer. CBRE National Senior Housing’s investment sales team members Aron Will, John Sweeny Jr., Garrett Sacco and …

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AcquisitionsActive AdultNewsWisconsin

Greywolf Brokers $4M Sale of Pheasant Branch Senior Apartments in Middleton, Wisconsin

by Jeff Shaw

MIDDLETON, Wis. — Greywolf Brokerage, a division of Greywolf Partners Inc., has brokered the $4 million sale of Pheasant Branch Senior Apartments in Middleton, a suburb of Madison. The 45,166-square-foot building contains 47 units. The property was fully occupied at the time of sale and sold slightly above the listing price. Dawn Davis of Greywolf represented the seller. Buyer and seller information was not provided.

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AcquisitionsActive AdultNew JerseyNews

JLL Brokers $29.9M Sale of Royal Pines at Marlboro Active Adult Community in Englishtown, New Jersey

by Jeff Shaw

ENGLISHTOWN, N.J. — JLL Capital Markets has arranged the $29.9 million sale of Royal Pines at Marlboro, an 89-unit active adult community in Englishtown, approximately 20 miles south of New York City. JLL represented the seller, a joint venture between GRJ and Castellan Real Estate Partners, in the sale to F.M. Ferrari Investments. Royal Pines at Marlboro comprises one- and two-bedroom units averaging 859 square feet. Although the property is restricted to residents age 55 and above, 20 percent of residents can be age 35 and older. The property was …

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AcquisitionsActive AdultNewsSouth Carolina

Hudson Capital Properties Sells Inspire Coastal Grand in Myrtle Beach for $53.2M

by Jeff Shaw

MYRTLE BEACH, S.C. — Hudson Capital Properties (HCP) has sold Inspire Coastal Grand, a 194-unit active adult community in Myrtle Beach. An undisclosed buyer acquired the property for $53.2 million. Tai Cohen of Cushman & Wakefield represented HCP in the transaction. Units are available in one-, two- and three-bedroom options. Cape Fear Commercial co-developed the project alongside HCP. The partnership broke ground on the community in 2019. Like many of the Southeastern markets where HCP invests, the greater Myrtle Beach area benefits from continued population growth that has strong potential …

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AcquisitionsCCRCNewsPennsylvania

Cushman & Wakefield Arranges Sale of 426-Unit Watermark at Logan Square in Philadelphia

by Jeff Shaw

PHILADELPHIA — Cushman & Wakefield has arranged the sale of The Watermark at Logan Square, a 426-unit rental continuum community in the Center City neighborhood of Philadelphia. The firm also served as the exclusive advisor to the undisclosed buyer in procuring acquisition financing. A fixture of the Philadelphia skyline, the 24-story tower originally opened in 1984 and offers independent living, assisted living, memory care and skilled nursing. The property is located prominently above the Logan Square circle and offers true urban senior living in one of the fastest growing neighborhoods …

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AcquisitionsNewsPennsylvania

Hamister Group Buys 80-Unit DevonHouse Senior Living in Allentown, Pennsylvania

by Jeff Shaw

ALLENTOWN, Pa. — Hamister Real Estate Equity Fund III LP, a private real estate fund sponsored by Hamister Group, has acquired DevonHouse Senior Living, a personal care home in Allentown. The community first opened in 1989, and was expanded in 2008 and 2013. The community features 42,446 square feet of space and feature 80 units and 100 beds. DevonHouse Senior Living is the 10th senior living community in Hamister’s managed portfolio and the 6th property acquired by Fund III.

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AcquisitionsConnecticutNewsSkilled Nursing

Blueprint Brokers Sale of 380-Bed Skilled Nursing Portfolio in Metro Hartford

by Jeff Shaw

HARTFORD, Conn. — Blueprint Healthcare Real Estate Advisors has brokered the sale of three skilled nursing facilities in Connecticut. Totaling 380 beds, the properties are all located in the northeastern suburbs of Hartford. A joint venture owner sold the assets to a regional buyer for an undisclosed price. The buyer plans to focus on operational efficiencies, including addressing staffing efficiencies, as well as investing in capital projects at the facilities.

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AcquisitionsFinanceNewsTexasVirginia

NHI Provides $42.5M Senior Loan, Acquires 60-Unit Community in Virginia Beach

by Jeff Shaw

VIRGINIA BEACH, Va. — National Health Investors Inc. (NYSE: NHI) has funded a $42.5 million senior loan to refinance a portfolio of skilled nursing facilities located in Texas. The borrower is Capital Funding Group and the properties are leased by subsidiaries of The Ensign Group Inc. The five-year loan has an annual interest rate of 7.25 percent with two one-year extensions. NHI also announced that it has exercised its purchase option to acquire Bickford of Virginia Beach, a 60-unit assisted living and memory care community in Virginia Beach. The acquisition …

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