LAKE WALES and HAINES CITY, Fla. — Lument has provided a $6.1 million bridge loan to facilitate the acquisition of two assisted living communities in Florida totaling 90 units. Innovation Senior Living, a middle-market provider founded in 2016, acquired Savannah Court of Lake Wales, a 45-bed community, and Savannah Court of Haines City, a 45-bed community. The two properties are approximately 15 miles apart in small cities south of Orlando and east of Tampa. Casey Moore, Conner Girdley and Chris Mauger led the transaction for Lument. Lument’s M&A team, led …
ATKINSON, Wis. — Walker & Dunlop has arranged a $14.7 million refinancing for Reena Senior Living, an 80-unit/80-bed assisted living and memory care facility in Fort Atkinson, approximately midway between Milwaukee and Madison. Walker & Dunlop’s Kevin Giusti and Matthew Lund led the team in closing the HUD loan. The borrower was Tukka Properties. The property consists of a three-story assisted living building built in 2016 and a one-story memory care addition built in 2019.
MIAMI — Leading Miami-based commercial real estate owners and developers AJP Ventures and Mas Group, along with equity partner OCTA, have completed construction of The Contemporary, a luxury assisted living community in the Westchester neighborhood of Miami. The developers have planned a ribbon-cutting ceremony for Jan. 26 to officially open the doors. Charter Senior Living will operate The Contemporary, which features a mix of one- and two-bedroom units on a six-acre campus. The community is located on the same campus as MedSquare Place, a Class A medical office building also …
MARGATE and DAVIE, Fla. — The DeMarco Real Estate Group of RE/MAX 5 Star Realty has arranged the $12.1 million sale of two assisted living facilities totaling 131 beds in Margate and Davie, both suburbs of Miami. PrivCap Cos. in Boca Raton sold the assets to a private investment group from New York. The facilities specialize in memory care and operate under the name of Caring Village. The portfolio sold for 81 percent higher than the last sale in 2020 for $7 million, which the DeMarco Real Estate Group also …
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.
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Webinar: What Will 2023 Hold for Seniors Housing Investment & Acquisition Activity?
In an uncertain time for the seniors housing industry, the “What Will 2023 Hold for Seniors Housing Investment & Acquisition Activity?” webinar focused on what’s influencing the landscape now and what is likely to affect it in the near future. The Dec. 8 panel discussion, hosted by Seniors Housing Business and sponsored by Valuation & Information Group, delved into tough topics like wages and staffing; inflation; the costs of debt and equity; government reimbursement; and other economic factors to illuminate what we can expect in 2023. Tune in …
AUGUSTA, Ga. — CBRE National Senior Housing has arranged the sale of Thrive at Augusta, a Class A assisted living and memory care community. Located in the heart of Augusta, the 85-unit community was built in 2019 and was fully occupied at the time of sale. Drake Real Estate Partners sold the asset to Inspired Healthcare Capital. While the price was not disclosed, CBRE also arranged $16.8 million in acquisition financing for the buyer. CBRE National Senior Housing’s investment sales team members Aron Will, John Sweeny Jr., Garrett Sacco and …
COMMERCE, Ga. — Marcus & Millichap Capital Corp. (MMCC) has arranged an $8.3 million loan for the refinancing of Brookside Commerce, an assisted living facility in Commerce, approximately 70 miles northwest of Atlanta. The 62-bed community includes 12 independent living units. It is 3.5 miles from Northridge Medical Center, a full-service community hospital. Robert Bhat, based out of the MMCC Miami office, led the transaction. “Brookside Commerce was acquired in September 2019,” says Bhat. “We were able to secure a 35-year HUD loan to refinance the asset and provide cash …
KINGS PARK, N.Y. — EW Howell Construction Group has completed work on St. Johnland Assisted Living in Kings Park. The two-story, 68,000-square-foot facility on Long Island’s North Shore offers 80 residential units and 100 beds. St. Johnland is a provider on Long Island of skilled nursing care, with specialties in dementia, head injury rehabilitation, subacute care and adult day care. The new assisted living facility was built adjacent to the existing St. Johnland Nursing Center on the 100-acre complex that the nonprofit organization owns. KDA Architects designed the community to …
WESTMINSTER and ENGLEWOOD, Colo. — CA Ventures has sold its Anthology of Westminster and Anthology of Englewood senior living assets to Harrison Street. “Anthology’s Westminster and Englewood assets have leased incredibly well — particularly having opened their doors at the onset of the COVID-19 pandemic in February 2020,” says Justin Dickinson, president of Anthology Senior Living. “The strong financial performance of each asset despite a volatile global macroeconomic environment and never-before-seen headwinds across the industry is a testament to both our investment strategy and the talent of our team.” The …