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 …
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 …
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 …
BEL AIR, Md. — Park Avenue Lifestyle has purchased a site within James Run, a mixed-use development underway in the Baltimore suburb of Bel Air, from master developer JEN Partners, a real estate private equity fund based in New York. The Orlando-based buyer plans to develop a $70 million seniors housing community on the site that will feature independent living, assisted living and memory care units, as well as a fitness center, outdoor courtyards, walking paths and an in-house restaurant and pub. At full build-out, which is anticipated for 2025, …
CATONSVILLE, Md.— Erickson Senior Living has named Don Grove as the new executive director at Charlestown, a continuing care retirement community in the Baltimore suburb of Catonsville. Grove joined the Charlestown team in 2007 as director of sales and marketing, a position he held for 14 years. In 2021, Grove transitioned to the role of associate executive director and most recently took on the role of interim executive director. Prior to joining Charlestown, Grove worked with the Baltimore Orioles as senior director of sales and ticketing. He holds a bachelor’s …
NASHVILLE, Tenn., and BALTIMORE and PIKESVILLE, Md. — Bellwether Enterprise Real Estate Capital LLC (BWE) has arranged three loan deals totaling nearly $25 million to refinance and preserve three affordable senior living communities in Nashville, Baltimore and Pikesville. Jon Killough and John Roberts originated the Nashville deal and Victor Agusta originated the Maryland loans. Bellwether arranged a $21 million bridge loan for Nashville Christian Towers. The loan will allow Envolve Communities to acquire and finance the 175-unit affordable seniors housing development. Envolve plans to redevelop the property utilizing proceeds from …
FREDERICK, Md., and SUMMERLIN, Nev. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of two newly constructed memory care communities. Located in Frederick and Summerlin, Silver Cos. developed the Class A communities with 60 units each, then leased them to Silverado. National Health Investors, a publicly traded REIT, acquired the properties for $37.5 million, representing $312,500 per unit and a yield of 7.5 percent. Silverado will stay on as operator.
CAMBRIDGE and LEXINGTON PARK, Md. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities located in Cambridge and Lexington Park, which are located on opposite sides of Chesapeake Bay southeast of Washington, D.C. A public REIT and its operating partner sold the 285-bed portfolio to an East Coast-based owner-operator for an undisclosed price. The sale is part of a larger portfolio with staggered closings.
MARYLAND — Oxford Finance LLC (“Oxford”) has provided a $124.8 million senior credit facility for the acquisition of four Autumn Lake Healthcare skilled nursing facilities totaling 520 beds in Maryland. Autumn Lake Healthcare maintains a network of independently owned and operated nursing homes and rehabilitative care centers across Connecticut, New Jersey, Maryland, West Virginia and Wisconsin. Further details were not disclosed.
WESTMINSTER, Md. — Carroll Lutheran Village (CLV), a seniors housing community in Westminster, has named Peter Bolt as its new executive director. Bolt provides leadership oversight of day-to-day operations including following federal, state and local laws, regulations and standards governing long-term care facilities; and ensuring residents living in the life-plan community receive excellent care and outstanding customer service. Bolts’ background in senior living also includes a bachelor’s degree in healthcare management and a master’s degree in economics. He is a licensed nursing home administrator with over 25 years of senior …