GREEN BAY, Wis. — Walker & Dunlop has arranged $9.1 million in financing for the acquisition of Tender Hearts Assisted Living, a 50-unit community in Green Bay. The property was built in 2009 and renovated in 2019. The total price of the acquisition was $10.1 million. The seller was not disclosed. Walker & Dunlop structured the HUD-insured financing on behalf of Senior Opportunity Funds Holding Co. (SOF), a seniors housing developer that has historically developed Class A independent living, assisted living and memory care communities in the Southeast. As part …
Assisted Living
OXFORD, Fla. — Berkadia’s Seniors Housing and Healthcare Group has arranged the $15 million sale of The Willows of Wildwood, an assisted living and memory care community in the Central Florida municipality of Oxford. The Class A property opened in 2015, featuring 126 units totaling 134 beds. Tim Cobb and Brooks Minford of Berkadia completed the sale.
Maplewood, OHI Open Inspīr Carnegie Hill High-Rise Community on Upper East Side of Manhattan
NEW YORK CITY — Maplewood Senior Living and Omega Healthcare Investors Inc. (NYSE: OHI) have opened Inspīr Carnegie Hill, a high-rise seniors housing community in Manhattan’s Upper East Side neighborhood. The property is the first to open under Maplewood’s luxury Inspīr brand. Rising 23 stories, the community features 215 units of assisted living, memory care and what the company calls “enhanced care.” Claire Davenport will serve as house geriatrician through a collaboration with the Brookdale Department of Geriatrics and Palliative Medicine at the Icahn School of Medicine at Mount Sinai, …
DAVENPORT and MARION, Iowa — KeyBank Real Estate Capital (KBREC) has secured $17 million of fixed-rate Federal Housing Administration loans for Bickford Senior Living, a senior living owner and operator based in Olathe, Kansas. The loans will refinance debt for Bickford of Davenport and Bickford of Marion, both located in Iowa. The buildings each were built in 1998 on 2.5 acres. Bickford of Davenport comprises 42 beds, 35 for assisted living and seven for memory care. Bickford of Marion comprises 38 beds, 31 for assisted living and seven for memory …
MUSCLE SHOALS, Ala. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Brookdale Shoals, a 42-unit assisted living and memory care community in Muscle Shoals, located along the Tennessee River in the northwest corner of Alabama. The asset was an operational outlier for Brookdale, the seller. The buyer is a local partnership between an individual investor and operating partner. The price was not disclosed. Brad Clousing, Jeff Binder and Daniel Geraghty of SLIB handled the transaction.
GAINESVILLE, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Amber Glen, a 46-unit assisted living and memory care community in Gaineville. Amber Glen is located approximately eight miles from Lake Lanier and 70 miles northwest of downtown Atlanta. A group of five tenants in common, which purchased the asset in 2006, sold the property for an undisclosed price. The buyer, primarily a skilled nursing owner-operator, is looking to expand its assisted living presence across the state of Georgia. SLIB’s Daniel Geraghty and Bradley Clousing handled the …
FAIRFAX, Va. — Silverstone Senior Living and Watermark Retirement Communities have opened The Providence, a luxury seniors housing community in the MetroWest neighborhood of Fairfax. The property features studio, one- and two-bedroom apartments offering services for assisted living, memory care and cognitive impairment. The number of units was not disclosed. Silverstone designed and developed the property, which Watermark will operate. The Providence features innovations that reduce or prevent transmission of viruses. These include an enhanced filtration and HVAC system, cold plasma bi-polar ionization, relative humidity levels of 40 to 60 …
JACKSONVILLE, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Beach House, an 84-unit assisted living and memory care community in Jacksonville. Built in 2014, the community features a total of 100 beds. The buyer is a partnership between a regional operator and two investment firms, one based in Florida and the other in New York. The seller was divesting of the asset as part of a planned investment horizon. The price was not disclosed. Bradley Clousing, Matthew Alley and Jeff Binder handled the transaction for SLIB. …
ELKINS, W.V. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Colonial Place, a 70-unit, 88-bed assisted living and memory care community in Elkins, approximately 80 miles south of Morgantown. The community was built in 1995. The seller was an institutional capital provider based in Florida that acquired the asset as a part of a larger portfolio. The property was an operational outlier for the seller. The buyer, a local nonprofit, now can provide a full spectrum of care in Elkins as it also owns a local nursing …
ROME, N.Y. — Evans Senior Investments (ESI) has arranged the sale of The Terrace at Woodland, a 46-unit assisted living and memory care community in the Central New York city of Rome. An independent owner-operator sold the property to a regional owner operator. The price of $10 million equates to approximately $217,000 per unit and a capitalization rate of 7.5 percent. Built in 2009, The Terrace at Woodland is licensed for 48 assisted living beds and 12 memory care beds. In addition, the community holds an ALP Medicaid license in …