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 …
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 …
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 …
Wilmington, N.C. — Live Oak Bank has provided a $40 million loan to finance the ground-up construction of a new seniors housing community in California. Upon completion, the property will feature 140 assisted living and memory care units. Live Oak Bank provided the financing, which features a five-year term and 42 months of interest-only payments, in conjunction with a $39.6 million CPACE loan provided by Nuveen Green Capital. A joint venture between Harbert Seniors Housing Fund II and Harbert South Bay Partners is the borrower.
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, …
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.
OAK BROOK, Ill. — An affiliate of Inland Real Estate Acquisitions has acquired a 635-unit senior living portfolio. The portfolio comprises three newly constructed Clarendale communities — Clarendale of Chandler in Chandler, Arizona; Clarendale of St. Peters in St. Peters, Missouri; and Clarendale at Indian Lake in Hendersonville, Tennessee. Amenities at the properties, which feature independent living, assisted living and memory care residences, include swimming pools, wellness centers, full-service salons, entertainment, dining and access to outpatient services and 24-hour security. The portfolio’s average occupancy was 92 percent at the time of …
CINCINNATI — Sonida Senior Living has acquired a seniors housing community in Cincinnati for $16.3 million. Development of the property was completed in 2021, however the community did not open, due to construction finance foreclosure. Totaling 82 units, the community will offer 50 assisted living and 32 memory care residences. The property is situated adjacent to Sonida’s existing Wellington at North Bend Crossing community, which features 121 senior living units. Together, the properties will comprise a 203-unit, two-community campus offering a continuum of care. Sonida funded the acquisition with $18.3 million …
SPOKANE, Wash. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Moran Vista Senior Living, a 131-unit seniors housing community located in Spokane. Originally built in 1997 and renovated and expanded in 2008, the property features independent living, assisted living and memory care residences. A regional owner-operator acquired the community from a Pacific Northwest-based seller. The buyer’s portfolio comprises roughly 20 properties throughout Washington and Arizona. Jason Punzel of SLIB brokered the transaction.
BARTLETT, Ill. — Continuum Advisors has brokered the $42 million sale of The Oaks at Bartlett, a senior living community located in Bartlett, roughly 35 miles northwest of downtown Chicago. Built in 2007, the property totals 283 units, with 10 cottages, 154 independent living apartments, 16 memory care units and 54 skilled nursing units. Michael Flanagan of Flanagan & Associates served as the receiver for the property, which recently defaulted on its bond obligations. Certus Living has operated the community since the default. David Kliewer and Jay Jordan of Continuum arranged …
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