MARYLAND — Oxford Finance LLC (“Oxford”) has provided a $124.8 million senior credit facility for the acquisition of four Autumn Lake Healthcare skilled nursing facilities totaling 520 beds in Maryland. Autumn Lake Healthcare maintains a network of independently owned and operated nursing homes and rehabilitative care centers across Connecticut, New Jersey, Maryland, West Virginia and Wisconsin. Further details were not disclosed.
INDIANAPOLIS — Blueprint Healthcare Real Estate Advisors has arranged the sale of Discovery Commons at College Park, a 148-unit independent living community in Indianapolis. A publicly traded REIT sold the asset to Elevation Financial Group, which plans to convert the community to active adult living. The price was not disclosed.
ANAHEIM, Calif. — Evans Senior Investments (ESI) has arranged the sale of a 138-bed skilled nursing community in Anaheim for $25 million. A local owner-operator sold the asset to an East Coast-based real estate holding company, which will lease the property to a local operator. The purchase price equates to $181,159 per bed. At the time of marketing, the community was 96 percent occupied and making over $2 million per year in net operating income. The facility also holds a contract for over 50 therapeutic residential care beds. Matt Jassak …
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Webinar: Let’s Talk About the Outlook for Seniors Housing Investment and Finance
Is there room for optimism in seniors housing? What does investor interest look like now? Learn about how interest rate increases are impacting seniors housing valuations, what a flight to quality means for different sectors, financing concerns and more. Watch the webinar here. Timestamps of major topics covered: (5:25) Impact of rising interest rates on seniors housing valuations (7:54) Effects broken down by sector: active adult, skilled nursing, assisted living (11:07) Financing in the current environment (13:21) Acquisition opportunities, plus deal flow and closing (18:10) Outlook for the market …
TEXAS — Nick Skarich, Steven Marx, Corley Audorff and Josh Williams of Colliers Mortgage have arranged an $11.8 million bridge loan for the acquisition of three skilled nursing facilities in Texas. The facilities, which participate under the Texas Quality Incentive Payment Program, total 358 licensed beds. The loan includes $3.5 million for renovations. The loan carries a three-year term with two 12-month extensions and an interest-only payment period. No further information was disclosed.
COLORADO — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 91-bed skilled nursing facility in Colorado. Solterra Castle Rock sold the asset to the existing operator for an undisclosed price. The property was built in the 1970s and sits between Denver and Colorado Springs.
OMAHA, Neb. — Transforming Age has announced plans to open a second headquarters in Omaha, along with the addition of 10 third-party managed communities largely in the Midwest. Following the new operational acquisitions, Seattle-Based Transforming Age’s portfolio will total nearly 70 communities. The newly added third-party managed communities, including one under construction, are located in Illinois, Colorado, Nebraska, Kansas, Iowa and South Dakota. This mix of entrance-fee and market-rate rental communities represents over 1,000 units. New additions to the Transforming Age team will include Frankie Pane, Julie Bennett, Camille Burke …
PITTSBURGH, INDIANAPOLIS AND LOUISVILLE, Ky. — CBRE has brokered the sale of four active adult communities totaling 481 units in the Pittsburgh, Indianapolis and Louisville metro areas. An institutional investor that is a leading active adult owner-operator was the seller. Another institutional investor acquired the properties for an undisclosed price. CBRE’s Indianapolis multifamily team consisting of Steve LaMotte and Dane Wilson, CBRE’s Pittsburgh multifamily team consisting of Laura Lawrence, and CBRE’s National Senior Housing team members John L. Sweeny Jr., Aron Will, Garrett Sacco and Scott Bray represented the seller. …
GREENVILLE, S.C.; CHARLOTTE, N.C.; AND KENMORE, N.Y. — Bellwether Enterprise Real Estate Capital LLC has arranged three loan deals totaling more than $62 million to finance three assisted living and memory care communities in Greenville, one assisted living and memory care facility in Charlotte and a 150-unit affordable seniors housing development in the Buffalo suburb of Kenmore. The national seniors housing and care team at Bellwether originated the Carolina loans, led by Ryan Stoll, Taylor Mokris and Kim Huffstutler. Lundat Kassa and Anthea Martin originated the New York loan. The …
FARMERS BRANCH, Texas — MedCore Partners has acquired an 86-unit senior living community in the first-ring Dallas suburb of Farmers Branch. MedCore has renamed the property, formerly called The Avenues of Park Forest, as The Grove on Forest Lane. The community features 70 assisted living and 16 memory care units. The transaction marks MedCore’s second acquisition in Texas but the first in the Dallas market. The property is MedCore’s 19th nationwide. Renovation effort will include new interior and exterior signage, courtyard landscaping, common area upgrades and apartment amenity enhancements. Senior …