ORLANDO — Foundry Commercial, in partnership with an investment fund managed by Morgan Stanley Real Estate Investing, has purchased the Spring Arbor Senior Living collection of 24 assisted living and memory care communities across the Mid-Atlantic. As part of the transaction, Foundry Commercial acquired the current operator, which will continue to manage the properties post-closing. The portfolio contains 1,424 units throughout Maryland, North Carolina and Virginia, with capacity for more than 1,800 residents. The Spring Arbor platform will continue operations under the Spring Arbor Senior Living brand. Capital Funding arranged …
CINCINNATI — Meridian Capital Group has arranged acquisition financing for a portfolio of six senior living and skilled nursing properties in Cincinnati. A finance company provided the capital. The portfolio consists of six Class A skilled nursing, memory care, independent living and assisted living facilities totaling 510 beds. This transaction was negotiated through Meridian’s seniors housing and healthcare platform, led by Ari Adlerstein and Josh Simpson, along with Matt Lesnik and Jesse Rauch.
CINCINNATI — Blueprint Healthcare Real Estate Advisors has arranged the sale of three seniors housing communities in the Cincinnati metro area. A continuing care retirement community anchors the portfolio, which totals 299 skilled nursing beds and 211 seniors housing units. A family seeking a succession plan sold the community to an institutional buyer for an undisclosed price. The communities were added to the buyer’s existing joint venture with a Cincinnati-based operator.
PITTSGROVE, N.J. — Capital Funding Group (CFG) has arranged $10.6 million in bridge-to-HUD financing for the acquisition of an 84-bed skilled nursing facility in Pittsgrove, approximately 30 miles south of Philadelphia. Care Tim Eberhardt and Ava Julio originated the transaction. Further details were not disclosed.
DALLAS — North Texas Benevolent Holdings has acquired three seniors housing communities. The locations and details on the properties were not disclosed. The properties were formerly part of Christian Care Centers, which declared bankruptcy. The buyer intends to lease all three communities to affiliates of Boncrest Resource Group Inc. a nonprofit operator North Texas Benevolent Holdings, LLC is owned by McFarlin Group of Dallas and Covington Health Group of Atlanta.
SACRAMENTO — Capital Funding Group (CFG) has provided $11.3 million in bridge-to-HUD financing for the acquisition of a skilled nursing facility. The facility, which is located in Sacramento, features 121 beds. Capital Funding Group’s Tim Eberhardt and Ava Julio originated the transaction. Further details were not disclosed.
BROCKTON, Mass. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Connemara Senior Living, an 86-unit independent living, assisted living and memory care community in the Boston suburb of Brockton. The community was built in 1990. Elevation Financial Group acquired the property and plans to convert it to affordable seniors housing. The seller and price were not disclosed.
ALEXANDRIA, Va. — Goodwin House Inc. (GHI) has acquired Hermitage Northern Virginia, a senior living community in Alexandria. The community is home to 100 residents across its independent living, assisted living and skilled nursing units. Pinnacle Living sold the asset for an undisclosed price. The Hermitage Northern Virginia seven-acre campus is located in the west end of Alexandria. The campus includes several structures as well as a top-floor community room with views of Washington, D.C. for private gatherings.
PHOENIX, ORLANDO and CHICAGO — The Walker & Dunlop seniors housing team has arranged three acquisitions with three different institutional partners. The transactions totaled over $150 million across 419 independent living, assisted living and memory care units. The assets are located in the Phoenix, Orlando and Chicago metro area. Walker & Dunlop’s Tony Cassie and Sam Thompson provided advisory services and facilitated the Arizona sale, while Brett Gardner, Joshua Jandris and Mark Myers provided advisory services and facilitated the Florida and Illinois sales.
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Webinar: Inflation and Rising Interest Rates – Doom or Boom for the Seniors Housing Industry?
Seniors housing valuations — what can the industry expect in terms of future occupancy, inflation and interest rates? These were the most pressing topics of the “Inflation and Rising Interest Rates — Doom or Boom for the Seniors Housing Industry?” webinar, hosted by Seniors Housing Business and sponsored by V&IG. Hear how expert panelists are accounting for some of the most challenging questions in today’s market: What is driving investment in this space? How have return expectations changed since the beginning of the pandemic? How are increasing interest rates and/or inflation impacting …