ALISO VIEJO, Calif. — BMO Healthcare Real Estate has provided financing for the acquisition of Belmont Village Aliso Viejo in Aliso Viejo in southern California. Harrison Street Asset Management is the borrower. Opened in 2019, the community totals 156 assisted living and memory care units. Belmont Senior Living developed and operates the property. Harrison Street currently has more than $108 billion in assets under management.
AUSTIN, Texas — Berkadia has secured $30 million for the refinancing of two assisted living and memory care communities located in Texas. Austin, Texas-based Journeyman Group is the borrower. The financing includes two seven-year, floating-rate Freddie Mac loans. Garrett Sacco, Austin Sacco, Steve Muth and Alec Rosenfeld of Berkadia arranged the financing on behalf of Journeyman Group.
DENVER — Healthcare real estate owner, operator and developer Healthpeak Properties (NYSE: DOC) has announced the formation and planned initial public offering (IPO) of a new seniors housing REIT, Janus Living. The publicly traded REIT will feature a RIDEA structure. Healthpeak will contribute its 34-community, 10,422-unit seniors housing portfolio to Janus Living and serve as its external manager, with a $10 million annual management fee. Immediately following the IPO, Healthpeak plans to retain a substantial majority interest in the REIT, with public shareholders owning the remainder. Scott Brinker, president and CEO …
BARTLETT, Ill. — Focus Healthcare Partners has received financing for the acquisition and repositioning of Hearthwood Senior Living, a 293-unit senior living community located in Bartlett, roughly 40 miles northwest of downtown Chicago. Ryan Stoll and Taylor Mokris of BWE arranged the $37 million non-recourse financing on behalf of Focus, which will use the funds to lever its previously all-cash acquisition of the property as well as more than $15 million in capital improvements. Focus plans to refresh the lobby and amenity area and add a bistro, modern theater and new …
MANHATTAN, Kansas — Ziegler has secured $53.8 million in bond financing through the City of Manhattan, Kansas, on behalf of Meadowlark, a single-site continuing care retirement community (CCRC). Situated on 55 acres, Meadowlark currently totals 359 units, with 137 independent living apartments, 50 independent living duplexes and cottages, 38 assisted living apartments and a 134-bed skilled nursing facility that comprises 60 private beds and 74 semi-private beds. The community was originally developed in 1975. In 2022, Ziegler arranged financing for an expansion of the property. Upon opening, the expansion reached full …
NEW YORK CITY — MonticelloAM has provided $68 million in bridge financing for a three-property skilled nursing portfolio located in Illinois. Loan proceeds will be used the operator of the skilled nursing facilities, which total 746 licensed beds, to refinance existing debt. Karina Davydov of New York City-based MonticelloAM originated the financing.
TIGARD, Ore. — PACE Loan Group (PLG) has provided $25.6 million in Commercial Property Assessed Clean Energy (C-PACE) financing for a seniors housing development currently underway in Tigard, roughly 10 miles outside downtown Portland. Mosaic is the developer and borrower. Construction on the community, Cedarbrook Senior Living, began this year. Upon completion, which is scheduled for early 2028, the development will feature one four-story building with 107 assisted living units and 64 memory care beds. PLG worked with Countryman Capital Partners to orchestrate the development’s capital stack. Financing for the project …
OAK BROOK, Ill. — Inland Real Estate Investment Corp. has raised more than $149 million in capital for its private investment offering, National Senior Living Portfolio DST, a Delaware statutory trust sponsored by Inland. Now fully subscribed, the fund has been closed. The trust currently indirectly owns three senior living communities. Located in Arizona, Missouri and Tennessee, the communities total 635 units. Each of the communities offers independent living, assisted living and memory care. The properties include Clarendale of Chandler in Chandler, Arizona; Clarendale of St. Peters in St. Peters, Missouri; …
BALTIMORE — Capital Funding Group (CFG) has provided a $253.2 million bridge loan for the refinancing of a skilled nursing portfolio. The portfolio includes six facilities in Maryland and on in Virginia. Together, the properties total 1,050 beds. Craig Casagrande, Scott Robinson and Catherine Mansel of Baltimore-based CFG originated the financing for the undisclosed borrower.
WYOMING, Mich. — Berkadia has brokered the sale of Rivertown Ridge, a senior living property located in Wyoming, a suburb of Grand Rapids. Built in 2020, the community features 152 units and offers independent living, assisted living and memory care. CPF Living is the buyer, and its wholly owned management company, Grace Management, will operate the property on behalf of CPF. Redstone Homes, the seller, developed the property and assumed operation of the community in 2023. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia arranged the sale on …
