Maryland

MARYLAND — First Citizens Bank has served as lead arranger for a $260 million loan to refinance a portfolio of 12 skilled nursing facilities in Maryland. The borrower is a Midwest-based healthcare real estate investment and management company that invests in a variety of post-acute facilities with investments in over 24 states. The licensed facilities represent more than 1,500 skilled nursing beds.

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WESTMINSTER, Md. — Lutheran Social Ministries of Maryland (LSMMD) has hired Lisa Pearre as vice president of marketing and communications.  Pearre leads the strategic marketing and communications efforts for Westminster-based LSMMD and its communities: Carroll Lutheran Village in Westminster and Lutheran Village at Miller’s Grant in Ellicott City. Pearre joins LSMMD with over 20 years’ senior living marketing and sales agency experience. As a thought leader and advisor for nonprofit senior living organizations, she has guided teams through various challenges, including start-up communities, major expansion projects, occupancy turnaround, community repositioning …

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SALISBURY, Md. — Commonwealth Senior Living has unveiled a planned expansion at Commonwealth Senior Living at Salisbury, located on the Delmarva Peninsula near the Delaware border, southeast of both Baltimore and Washington, D.C. The plan calls for 12 cottages and a new clubhouse. In addition to the new facilities, Commonwealth Senior Living will introduce new lifestyle programming and amenities. After construction is complete, there will be a total of 23 cottages at Commonwealth Senior Living at Salisbury. “We have seen a tremendous amount of demand from existing and prospective residents …

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BALTIMORE — Continuum Advisors has arranged the sale of The Village at Augsburg, a 313-unit continuing care retirement community in Baltimore. The campus comprises 131 independent living apartments, 51 assisted living units and 131 licensed skilled nursing beds situated on approximately 50 acres.  Jay Jordan and Dave Kliewer of Continuum Advisors represented Maryland-based National Lutheran Corp. in the sale of Augsburg to New Jersey-based Outcome Healthcare. The price was not disclosed. “NaLonal Lutheran affiliated with The Village at Augsburg prior to COVID-19 and put forward significant investment into the campus …

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COCKEYSVILLE, Md. — Brightview Senior Living has opened the welcome center at Brightview Hunt Valley, a 178-unit seniors housing development in Cockeysville, approximately 15 miles north of Baltimore. Brightview Hunt Valley is currently under construction within the Hunt Valley Towne Center shopping center and will open in summer 2024. The community will offer independent living, assisted living and memory care services. As a privately owned company, Brightview Senior Living builds new communities through a combination of private investment funds and traditional bank loans. Brightview Hunt Valley is one of 13 …

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NORTH BETHESDA, Md. — ML Group has spearheaded the design of planned renovations at The Terraces at Tuckerman Lane in North Bethesda, a suburb of Washington, D.C. Although a specific development price was not disclosed, the project was described as a “multi-million-dollar renovation.” The community was also recently rebranded and new leadership was hired, including senior executive director Laura Holden. “North Bethesda is one of Maryland’s most desirable neighborhoods, and our residents appreciate the blend of urban and suburban living with access to dynamic shopping, dining, entertainment and cultural experiences,” …

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OXON HILL, Md. — Homes for America, in collaboration with the Housing Authority of Prince George’s County and Foundation Development Group, has completed Homes at Oxon Hill, a 163-unit affordable seniors housing community in Oxon Hill, just south of Washington, D.C. The community is age restricted and residents must earn at or below 60 percent of the area median income. Homes at Oxon Hill is a five-story elevator building that includes a mix of one- and two-bedroom apartments. Financing for Homes at Oxon Hill comes from the Maryland Department of …

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MIDDLE RIVER, Md. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Woodlands Assisted Living, a 65-unit assisted living and memory care community in Middle River, a northeastern suburb of Baltimore. A publicly traded REIT sold the asset to Inspirations Assisted Living and Memory Care for an undisclosed price. Built in 1999, the community featured a history of performance prior to the onset of the pandemic, with occupancies north of 90 percent and operating margins approaching 30 percent. Significantly impacted by the pandemic in 2020 and 2021, the …

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BALTIMORE — Baltimore-based Capital Funding Group (CFG) has arranged $207 million in financing to support the refinancing of 10 skilled nursing facilities. The facilities, which span Maryland, Virginia and North Carolina, total over 1,200 beds. The borrowers are affiliates of The Portopiccolo Group. The transaction represents the largest deal closed by CFG this year to date. The financing also allowed for an equity recapture at closing, a transition to third-party tenants for eight of the 10 facilities as part of the closing and an earn-out structure to provide access to …

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