ALABAMA — Capital Funding Group (CFG) has provided $84.7 million in bridge-to-HUD financing for the acquisition of seven skilled nursing facilities and one assisted living community in Alabama. The borrower is Venza Care. The portfolio totals 797 beds. Capital Funding Group’s Craig Casagrande and Andrew Jones originated the transaction.
ALABAMA — Blueprint Healthcare Real Estate Advisors has arranged the sale of three seniors housing communities in Alabama. Sold by a publicly traded REIT, the portfolio consists assisted living and memory care communities totaling 202 units across the state’s three largest metros. The assets were originally constructed in 1999 and 2000. Texas-based Proveer Senior Living acquired the properties and plans to undertake significant capital projects across the assets. This acquisition strategically enhances the buyer’s growing footprint throughout the state of Alabama. The price was not disclosed.
MOBILE, Ala. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Knollwood Healthcare & Gordon Oaks Senior Living, a continuing care retirement community (CCRC) in Mobile. Originally constructed in 1985 and expanded in 1987, 1993 and 1996, the property features 279 units of skilled nursing, independent living, assisted living and memory care. Blueprint represented the court-appointed receiver, Healthcare Management Partners, in the fall of 2021 to run a competitive marketing process to select a stalking horse bidder. That bidder, MED Healthcare, eventually became the buyer. The price was …
MADISON, Ala. — Senior Living Investment Brokerage (SLIB) has arranged the sale of an assisted living and memory care community in Madison, a suburb of Huntsville. A local ownership group of physicians that originally developed the asset was the seller. The building was not fully stabilized with respect to rental rates or expenses, but was near full occupancy at the close of escrow according to SLIB. The buyer, an Alabama-based owner-operator, plans to stabilize the asset and hold it over the long term. Brad Clousing and Daniel Geraghty led the …
MADISON, Ala. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Heritage Assisted Living and Memory Care, a 46-unit seniors housing community. Located in Madison, a western suburb of Huntsville, the community is in a growing residential, medical and commercial corridor. The units are split as 30 for assisted living and 16 for memory care on a 4.9-acre site. The seller was a local ownership group of physicians who had originally developed the asset. The building was not fully stabilized regarding rental rates or expenses, but was near …
MADISON, Ala. — KIRCO has delivered and opened Madison Crossings, an independent living and memory care community in Madison, about 10 miles from downtown Huntsville. Phoenix Senior Living operates the community, which features an outdoor swimming pool, wellness center, dining experience, pub, beauty salon and spa, yoga studio, outdoor pickleball and bocce ball courts. Madison Crossings comprises 105 independent living apartments and 27 memory care residences. The property represents the 10th seniors housing facility in Alabama operating under the Phoenix Senior Living brand. KIRCO MANIX, a third-party construction services firm …
NEW YORK CITY — JLL Capital Markets has arranged $145 million in acquisition and capital improvement financing for two seniors housing portfolios. The first portfolio includes six properties throughout the Northeast, and the second comprises nine properties in the Southeast. JLL worked on behalf of the borrowers, Sculptor Real Estate and its operating partners, to secure two separate nonrecourse loans, one for each portfolio, through national banks. Each loan was fully underwritten without a syndication requirement. Additionally, JLL represented the undisclosed seller in the marketing and sale of the portfolios. …
ALABAMA and TENNESSEE — Blueprint Healthcare Real Estate Advisors has arranged the sale of a two-property portfolio of communities in Alabama and Tennessee. The portfolio included two seniors housing communities consisting of 152 units of independent living, assisted living and memory care. The properties were built in 2018. An Alabama-based owner-operator bought the assets as part of a plan to increase its footprint in the Southeast. The seller and price were not disclosed.
ATHENS, Ala., and SPRING HILL, Tenn. — Birmingham-based Atlas Senior Living and Salta Capital are adding two new senior living communities in Alabama and Tennessee to their portfolios, bringing their total number of properties to 32. Atlas will be the owner-operator of the communities. The Goldton at Athens totals 75,824 square feet and 84 units total, comprising 12 independent living residences and 72 assisted living residences. The Goldton at Spring Hill totals 66,395 square feet and 79 units total, with 63 assisted living residences and 16 memory care residences. The …
TUSCALOOSA, Ala. — CBRE Senior Housing has arranged acquisition financing for Pine Valley Retirement Community, a 113-unit independent living and assisted living community in Tuscaloosa. The borrower is a joint venture between Winterpast Capital Partners and Broadview Real Estate Partners. The seller was not disclosed. Situated on a 10-acre site, the community comprises 98 independent living units, which includes 38 patio homes, and 15 assisted living units. Post-closing, the buyer plans to deploy approximately $2.4 million in capital upgrades. Aron Will, Austin Sacco and Tim Root of CBRE Senior Housing …