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Independent Living

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Walker & Dunlop Arranges $25.9M Permanent Financing for Community Near Grand Rapids

by Hayden Spiess

WYOMING, Mich. — Walker & Dunlop has arranged $25.9 million in permanent financing for Rivertown Ridge, a seniors housing community located in Wyoming, roughly 5 miles outside Grand Rapids.  The 10-year, fixed-rate Fannie Mae loan features three years of interest-only payments. Mary Stuart Hurst and Russell Dey of Walker & Dunlop secured the financing through Inner Circle Holdings on behalf of the borrower, Redstone Group Management Inc.   Rivertown Ridge, which was built in 2019 as part of a master-planned community, features 152 units, with independent living, assisted living and memory care …

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Welltower Agrees to Acquire NorthStar Healthcare Income for $900M

by Hayden Spiess

TOLEDO, Ohio and HOUSTON — An affiliate of Welltower Inc. (NYSE: WELL) has entered into an agreement to acquire NorthStar Healthcare Income Inc., a public, non-traded REIT that owns a diversified portfolio of seniors housing properties throughout the United States, for roughly $900 million.  Toledo-based Welltower will take ownership of NorthStar Healthcare’s portfolio of 40 seniors housing communities in the acquisition. Founded in 2010, Houston-based NorthStar Healthcare’s portfolio includes independent living, assisted living and memory care properties.  “We expect that this portfolio will serve to further enhance our regional densification …

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AcquisitionsFloridaIndependent LivingMemory CareNews

JLL Arranges Sale of 45-Acre Campus in Wellington, Florida

by Hayden Spiess

WELLINGTON, Fla. — JLL Capital Markets has arranged the sale of Wellington Bay, a 45-acre senior living campus located in Wellington, roughly 55 miles northwest of Fort Lauderdale.  Totaling 283 units, the property features a 159-unit independent living community and The Lisbet Health Center, which comprises 124 assisted living and memory care residences. Amenities at the campus include a 65,000-square-foot clubhouse with dining, outdoor and indoor pools, a hot tub, putting green, bocce court, pickleball court and fitness, wellness, concierge, arts and entertainment programming.  AEW Capital Management acquired the property from …

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Beth Sholom Village Opens Aviva Pembroke Community in Virginia Beach, Virginia

by Hayden Spiess

VIRGINIA BEACH, Va. — Owner-operator Beth Sholom Village has opened Aviva Pembroke, a new community located in Virginia Beach adjacent to the Pembroke Square shopping mall. Pembroke Realty Group developed the property on behalf of Beth Sholom Village.  Totaling 153 units, the community features 121 independent living, 20 assisted living and 12 memory care residences.  Amenities at the property, which was designed by Kahler Slater, include a pool, fitness center, bistro, community room and a meditation and prayer room. Outdoor amenities include a deck, rooftop lounge and terrace, pickleball courts, putting …

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Assisted LivingFinanceFloridaIndependent LivingMemory CareNews

Marathon Provides $154.5M Refinancing for Senior Living Portfolio in Florida

by Hayden Spiess

NEW YORK CITY — Marathon Asset Management has provided a $154.5 million mortgage loan for the refinancing of a senior living portfolio, The American House Florida Portfolio, located in Florida. A joint venture between Monarch Alternative Capital and REDICO is the borrower.  Totaling 817 units, the portfolio comprises six communities offering 40 independent living, 306 assisted living and 102 memory care residences. The communities were built between 2015 and 2018.  According to a press release issued by New York-based Marathon, each of the properties is located in a Florida market currently …

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Thoma-Holec to Design Five Acanthus Senior Living Communities in Metro Phoenix

by Hayden Spiess

PHOENIX — Thoma-Holec Design has been tapped to lead the interior design of five new Acanthus Senior Living developments. Each of the projects, all located throughout metro Phoenix, will be situated on a Catholic church property. The developments, which will comprise roughly 150 units each, will be located at St. Benedict Catholic Church in Ahwatukee, St. Clare of Assisi Catholic Church in Surprise, St. Raphael Catholic Church in Glendale, St. Gabriel Catholic Church in Cave Creek, and St. Joesph Catholic Church in Phoenix. Open to individuals of all faiths, the communities …

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AcquisitionsAssisted LivingFinanceIndependent LivingMemory CareNewsOregon

JLL Arranges $40M Acquisition Financing for Three Seniors Housing Communities in Oregon

by Hayden Spiess

EUGENE and SPRINGFIELD, Ore. — JLL Capital Markets has arranged $40 million in acquisition financing for a portfolio comprising three seniors housing communities in Oregon. Totaling 344 units, the properties are located in Eugene and Springfield.  Built between 1996 and 2006 and renovated in 2021, the communities include Evergreen Senior Living in Eugene and Timber Pointe and Woodside Senior Living in Springfield. Together, the properties offer 43 independent living, 245 assisted living and 56 memory care residences. Amenities at the communities include on-site dining, complimentary transportation, television lounges, libraries, beauty salons …

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AcquisitionsAssisted LivingFloridaIndependent LivingMemory CareNews

Titan Development Sells Three Seniors Housing Communities in Florida

by Hayden Spiess

THE VILLAGES and WINTER PARK, Fla. — Titan Development has sold a portfolio of three seniors housing communities located in The Villages and Winter Park.  The properties included in the portfolio — which totals 416 units — are Watercrest Buena Vista, Watercrest Spanish Springs and Watercrest Winter Park. JLL Capital Markets brokered the sale on behalf of Titan. AEW Capital Management acquired the portfolio for an undisclosed price.  Watercrest Buena Vista and Watercrest Spanish Springs are located in The Villages, a master-planned community roughly 45 miles northwest of Orlando. Built in 2018, …

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Assisted LivingFinanceIndependent LivingMemory CareNewsTennessee

Brookdale Receives $344.2M Financing for Seniors Housing Portfolio

by Hayden Spiess

BRENTWOOD, Tenn.  — Brookdale Senior Living has received a $344.2 million loan to refinance a seniors housing portfolio. The portfolio comprises 47 communities across 14 states.  Tennessee-based Brookdale has used the proceeds to repay $312.5 million of variable-rate debt due September 2027. Allison Holland and Alex Sheaffer of JLL Capital Markets secured the seven-year, fixed-rate financing on behalf of Brookdale under JLL’s master credit facility agreement with Fannie Mae. JLL Real Estate Capital LLC will service the loan.  Totaling 5,102 units, the portfolio features independent, assisted living and memory care residences. 

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BWE Secures $76M Refinancing for Senior Living Community in Naples, Florida

by Hayden Spiess

NAPLES, Fla. — BWE has secured a $76 million loan for the refinancing of The Carlisle Naples, a senior living community located in Naples. A joint venture between Harbert Management Co. (HMC) and Senior Resource Group (SRG) was the borrower.  Totaling 350 residences, the property features 257 independent living units and 93 assisted living units. SRG operates the community.  Ryan Stoll and Taylor Mokris of BWE arranged the non-recourse bridge financing — which features a five-year term, floating rate and full-term interest-only payments — on behalf of the borrower. 

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