SANTA ROSA, Calif. — Greystone, a real estate lending, investment and advisory company, has provided a $58.3 million Freddie Mac loan to refinance Varenna at Fountaingrove, a 163-unit independent living facility in Santa Rosa, just north of San Francisco.
Independent Living
TEANECK, N.J. — Holliday Fenoglio Fowler L.P. (HFF) has arranged the sale of Heritage Pointe of Teaneck, a 142-unit independent living facility in Teaneck. The buyer was Washington, D.C.-based asset management firm The Carlyle Group, according to local news outlet NorthJersey.com.
NEW YORK — A joint venture partnership between NorthStar Healthcare Income Inc. and NorthStar Realty Finance Corp. (NYSE: NRF) has acquired an $875 million portfolio of independent living facilities, following an SEC filing reported in April. NorthStar Healthcare and NorthStar Realty are both real estate investment trusts (REITs) externally managed by NorthStar Asset Management Group Inc. (NYSE: NSAM), a New York-based asset management firm focused on managing real estate and other investment platforms.
New Senior Investment Group Completes $435M Seniors Housing Portfolio Acquisition, $670M Financing
by Jeff Shaw
NEW YORK — New Senior Investment Group Inc. (NYSE: SNR), a New York-based seniors housing REIT, has completed the previously announced acquisition of 17 independent living seniors housing properties from affiliates of Hawthorn Retirement Group for approximately $435 million. The acquisition was funded with cash on hand and proceeds from a first mortgage loan.
ST. PAUL, Minn. — Dougherty Mortgage has arranged a $5.1 million Fannie Mae loan for the refinancing of Riverview Highlands, a 54-unit seniors housing property in St. Paul. The 12-year loan includes a 30-year amortization schedule. Dougherty’s Minneapolis office arranged the loan for the borrower Riverview Highlands LLC.
FORT LAUDERDALE, Fla. —Housing Trust Group a housing real estate developer in Florida, has completed construction of Village Place Apartments, a $15 million, 112-unit senior affordable housing community in Fort Lauderdale. The mid-rise apartment development is located at 720 NE 4th Avenue.