ILLINOIS — Greystone has provided $35.7 million in HUD-insured loans to refinance two supportive living facilities in Illinois. The two properties consist of a total of 272 units between the two buildings, built in 2004 and 2005. Further details on the properties were not disclosed. Eric Rosenstock originated the financing on behalf of Grand Lifestyles. The non-recourse loans both carry 35-year terms, full-term amortization and fixed rates. Illinois developed the Supportive Living Program as an alternative to nursing home care for low-income older persons requiring mid-range care needs as opposed …
ILLINOIS — Greystone has provided a total of $35.7 million in HUD-insured loans to refinance two supportive living facilities in Illinois. The two properties consist of a total of 272 units between the two buildings, built in 2004 and 2005. Eric Rosenstock originated the financing on behalf of Grand Lifestyles. Greystone’s HUD-insured, non-recourse loans both carry 35-year terms, full-term amortization, and low, fixed rates.
CHICAGO — CareTrust REIT Inc. (NYSE: CTRE) has acquired a 136-unit, two-facility memory care portfolio located in metro Chicago. Chapters Living will take over operations at the community, which is a new relationship for CareTrust. Chapters Living is a seniors housing and memory care operator based in the Midwest led by industry veteran Danny Stricker. The two properties will be placed in a 15-year, triple-net lease. The agreement includes two five-year extension options as well as annual CPI-based rent escalators. CareTrust’s initial investment in the facilities, inclusive of transaction costs, …
CRESTWOOD, Ill. — Greystone has provided a $13.7 million HUD-insured loan for the refinancing of The Pointe at Kilpatrick in Crestwood, about 24 miles southwest of Chicago. Built in 2003, the 122-bed supportive living facility features amenities such as a community room, living room, therapy room, barber shop, courtyard, children’s play area, private dining room and resident laundry rooms. Eric Rosenstock of Greystone originated the financing on behalf of the undisclosed borrower. The fixed-rate loan features a 35-year term.
CHICAGO — MidCap Financial has provided a floating-rate refinancing for a Class A, 240-unit independent living community in the North Shore suburbs of Chicago. The borrowers are affiliates of Harrison Street and Banner Real Estate Group. The subject property has steadily leased up since opening in 2020 and benefits from its affiliation with CJE SeniorLife and physical quality, according to MidCap. Sarah Anderson of Newmark arranged the transaction.
GLENVIEW, Ill. — Anthem Memory Care has named Fran DeJulius-Rybarski executive director for Emerald Place in Glenview. Rybarski previously was executive director of The Auberge at Orchard Park in Morton Grove, Illinois. She has also served as executive director for Green Oaks Senior Living in Libertyville, Illinois.
CHICAGO — Woodlawn Central LLC is moving forward with the development of Woodlawn Central, an $895 million mixed-use project spanning eight acres in Chicago’s Woodlawn neighborhood. The development team recently hired Transwestern Real Estate Services as its commercial real estate services provider. Woodlawn Central is poised to transform the area into a walkable, transit-oriented district with easy access to civic amenities such as the Obama Presidential Center, Jackson Park, the Museum of Science and Industry and the University of Chicago. Woodlawn’s Apostolic Church of God conceived and planned the project. …
OAK LAWN, Ill. — Anthem Memory Care has named Nick Katinos as executive director for Grace Point Place in Oak Lawn, southwest of Chicago. Katinos previously was executive director of Sunrise of Naperville North in Naperville. He also served as executive director for Brighton Gardens of Wheaton in Wheaton. He brings over seven years of senior living experience to this position. Katinos earned a bachelor’s degree in hospitality management from Johnson & Wales University in Providence, Rhode Island.
ST. CHARLES, Ill. — Cushman & Wakefield has arranged the sale of River Glen of St. Charles, located within the former Delnor Hospital in St. Charles, which was built in 1939. Located approximately 35 miles west of Chicago, the community features 106 units of independent living, assisted living and memory care. The original hospital building has been converted into a modern, well-amenitized campus. Bridge Investment Group sold the asset to Citrine Senior Communities, a joint venture between affiliates of Citrine Investment Group and Jaybird Capital, for $20 million. Jaybird Senior …
ILLINOIS — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 76-bed skilled nursing facility located approximately 80 miles west of Springfield, Illinois. The seller was a regional owner-operator looking to divest this asset from its portfolio to focus on core assets. The buyer was a regional owner and operator based on the East Coast looking to expand its presence in Illinois. The price and further details on the property were not disclosed.