Assisted Living

An undisclosed community in Silverdale, Washington
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Live Oak Bank Provides $47.5M Bridge Loan for Seniors Housing Community in Metro Seattle

by Channing Hamilton

SILVERDALE, Wash. — Live Oak Bank has provided a $47.5 million bridge loan for the financing of an undisclosed seniors housing community located in Silverdale, roughly 25 miles northwest (approximately 70 miles by vehicle) of Seattle. Built in 2022, the property comprises 172 independent living, assisted living and memory care units. The borrower is a Florida-based owner of seniors housing communities. The financing features a three-year initial term and 24 months of interest-only payments. Loan proceeds were used to retire the existing debt, with $4 million in potential future earnout proceeds.

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HarborChase of Wilmington in Wilmington, Delaware
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JLL Brokers $45M Sale of Luxury Seniors Housing Community in Delaware

by Channing Hamilton

WILMINGTON, Del. — JLL Capital Markets has arranged the $45 million sale of HarborChase of Wilmington, a luxury 96-unit assisted living and memory care community in Wilmington, roughly 30 miles southwest of Philadelphia. JLL represented the seller, a private equity firm, in the transaction. Harbor Retirement Associates will continue to manage the community for the buyer, a publicly traded real estate investment trust.  Originally constructed in 2018, HarborChase of Wilmington is one of the newest seniors housing communities in the state of Delaware and is the newest facility in its primary market by …

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The Manhattan-St. Petersburg in St. Petersburg, Florida
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Ziegler Arranges $29.4M in Bond Financing for Planned Continuing Care Retirement Community in St. Petersburg, Florida

by Channing Hamilton

ST. PETERSBURG, Fla — Ziegler has arranged $29.4 million in bond financing for Convivial St. Petersburg LLC, which plans to develop a continuing care retirement community (CCRC) on a 5.2-acre site in St. Petersburg.  The Series 2024 Revenue Bond Anticipation Notes are comprised of $23.4 million of tax-exempt Series 2024A Notes sold publicly to institutional investors, and $6 million of subordinate tax-exempt and taxable notes purchased by an affiliate of the developer and manager of the project. The borrower will use the proceeds of the revenue bond anticipation notes to fund …

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Stonehaven Assisted Living in Maumelle, Arkansas
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ESI Brokers Sale of Stonehaven Assisted Living in Maumelle, Arkansas

by Channing Hamilton

MAUMELLE, Ark. — Evans Senior Investments (ESI) has arranged the sale of Stonehaven Assisted Living, a 60-unit facility in Maumelle, an affluent community located about 17 miles northwest of Little Rock. ESI represented the seller, a national healthcare system, in the transaction. The sales price was undisclosed. The buyer was a private company that partnered with a Midwest-based operator, and the deal marked their second investment in Arkansas. Stonehaven, which opened in 2007, has long served both private pay and Medicaid residents. However, over the past year, Stonehaven faced some major difficulties, …

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Post acute care technology trends quote Matrixcare
Assisted LivingCCRCContent PartnersFeaturesIndustry ContentMemory CareOperationsSkilled NursingTechnology

New Technology, Electronic Health Records Solve Problems in Post-Acute Care

by Sarah Daniels

Changing Medicare requirements for risk-based programs are putting new pressure on seniors housing operators and skilled nursing facilities that provide post-acute care (PAC) to people recently released from hospitals. Standards for the quality of care are becoming stricter just as innovations in record keeping, data analysis, voice recognition technology and smart room sensors are maturing. These new technologies — including many powered by artificial intelligence (AI) — combined with electronic health records (EHRs) can help operators adapt to the enormous changes coming to the seniors housing business. “We really put …

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Assisted LivingFinanceMemory CareMichiganNews

Bayview PACE Provides $4.3M in C-PACE Funds for Seniors Housing Property in Metro Detroit

by Channing Hamilton

TAYLOR, Mich. — Bayview PACE has provided $4.3 million in commercial property-assessed clean energy (C-PACE) financing for the 81-unit Hampton Manor of Taylor seniors housing community, located about 17 miles southwest of Detroit. The sponsor was Build Senior Living, the development arm of Hampton Manor Assisted Living. The 81-unit Hampton Manor of Taylor is situated on a six-acre landscaped site that includes 60 parking spaces. Licensed for 102 beds, Hampton Manor-Taylor features 65 assisted living units and 16 memory-care units with extra capacity for second persons and/or additional companion units.  …

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Modena Reserve in Washington, D.C.
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Mesa West Provides $114M in First-Mortgage Debt to Refinance Two Seniors Housing Communities in suburbs of Philadelphia, Washington, D.C.

by Channing Hamilton

MALVERN, Pa., and KENSINGTON, Md. — Mesa West Capital has provided AEW Capital Management LP with $114.6 million in first-mortgage debt across two loans to refinance the seniors housing communities of Echo Lake in Malvern and Modena Reserve at Kensington in Kensington. Terms of the loans were not disclosed. AEW delivered the 250-unit Echo Lake to the market in 2020 alongside joint venture partner Sage Senior Living Inc., which operates the community. Located about 27 miles northwest of Philadelphia in Malvern, Echo Lake offers a mix of independent and assisted …

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Monark Grove Greystone in Birmingham, Alabama
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Atlas Senior Living Adds Two Alabama Communities to Management Portfolio

by Channing Hamilton

MADISON and BIRMINGHAM, Ala. — Atlas Senior Living has assumed management of two communities in northern Alabama: Monark Grove Madison in Madison and Monark Grove Greystone in Birmingham. KIRCO, a national commercial real estate development and investment firm based in Troy, Mich., built and owns the communities. KIRCO is also a partner with Atlas at the Legacy Reserve at Fritz Farm community in Lexington, Ky. “Our experience working together in Kentucky has set a high bar, and we look forward to continuing to redefine the senior living experience through our …

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Senior Resource Group Acquires Fountainview at Gonda in Los Angeles, Renames Property

by Channing Hamilton

PLAYA VISTA, Calif. — Senior Resource Group (SRG), a developer and operator of luxury senior living communities, has assumed ownership and operation of Fountainview at Gonda in Playa Vista, a neighborhood in the Westside area of Los Angeles. The property was previously owned and operated by Los Angeles Jewish Health (LAJHealth). SRG is renaming the community Avocet Playa Vista. A continuing care retirement community, Avocet Playa Vista offers independent living, assisted living, memory care and integrated healthcare, including rehabilitative therapies. Residents own a long-term contract for care and services in a well-appointed private …

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AcquisitionsAssisted LivingNewsSkilled NursingTennessee

ESI Brokers Sale of Mabry Health Care & Rehabilitation Center in Gainesboro, Tennessee

by Channing Hamilton

GAINESBORO, Tenn.— Evans Senior Investments (ESI) has arranged the sale of Mabry Health Care & Rehabilitation Center in Gainesboro, located about 88 miles east of Nashville. The transaction was executed on behalf of the seller, an independent owner-operator. The buyer was Strawberry Fields REIT in an off-market transaction. Mabry Health Care, a family-owned nursing home founded in 1979, has served the Gainesboro community for over four decades. Originally focused solely on skilled nursing care, the center expanded its services in 2005 to include assisted living. Today, the facility comprises 108 total …

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