KENSINGTON, Md. — Prudential Mortgage Capital Company, the commercial mortgage lending business of Prudential Financial, Inc. (NYSE: PRU), has provided a $41 million loan to Fountain Square Properties to refinance Kensington Park, a Class A independent, assisted and memory care community located in Kensington, Md.
Assisted Living
KANSAS CITY, Mo. — Senior Capital Advisors, representing seller Principal Senior Living Group, has sold of Benton House of Shoal Creek, a 73-unit, 88-bed assisted living and memory care community in Kansas City, Mo. The facility was sold to American Realty Capital Healthcare Trust II for $28.5 million, or $390,000 per unit. Bruce Gibson, principal with Senior Capital Advisors, led the sale.
FORT MYERS, Fla. — Recognizing a need for more assisted living care in southwest Florida, Omega Communities, LLC, has purchased 8.93 acres of land at Six Mile Cypress Parkway just south of Daniels Parkway in Fort Myers for $2.05 million. Omega plans to develop a senior living community on the parcel.
Berkeley Point Capital Closes $16.2M Freddie Mac Loan for Mass. Assisted Living Community
by Jeff Shaw
MALDEN, Mass. – Berkeley Point has closed a $16.2 million Freddie Mac 7-year floating rate term loan for Atria Senior Living and its partners. The loan refinanced existing first mortgage debt due to Mass Housing and facilitated the buyout of its tax credit equity partner.