ROCHESTER, N.Y. — Lument has provided a $58.2 million Freddie Mac loan for the refinancing of a seniors housing campus located in Rochester in Upstate New York. Wegman Cos. is the borrower. Tyler Armstrong, Chris Cain and Taylor Russ of Lument arranged the financing. Totaling 332 units, the campus features The Village at Unity and The Hamlet and offers independent living, assisted living and memory care. The Village at Unity comprises 272 independent living units, and The Village at Hamlet comprises 40 assisted living and 20 memory care units. Originally built …
NORTH TUSTIN, Calif. — Broadview Real Estate Partners has sold Clearwater at North Tustin, a 100-unit seniors housing community located in North Tustin, approximately 35 miles southeast of downtown Los Angeles. Health Wave Partners acquired the property for an undisclosed price. Built in 2021, Clearwater at North Tustin comprises two acuity-specific, single-story buildings with assisted living and memory care residences. Amenities at the community include an outdoor amphitheater, music garden, salon and spa, art studio, wellness center, dog park and four courtyards. Aaron Rosenzweig and Dan Baker of JLL Capital Markets …
ARCADIA, Calif. — O&I Development is currently underway on They Ivy Arcadia, a new senior living community located in Arcadia, roughly 20 miles northeast of downtown Los Angeles. Upon completion, the $33 million development will total 100 units of assisted living and memory care. R.D. OIson Construction is serving as the general contractor for the project. The project team also includes b.hills architecture and STUDIOSIX5. Amenities at the property will include a fitness center with specialized treatment rooms for memory care and mobility support, dining areas, a reading room, bar and …
PONTIAC, Ill. — Cambridge Realty Capital has provided a $6 million loan to fund the construction of a memory care addition at The Pointe at Pontiac in central Illinois. The borrower is an Illinois-based limited liability company (LLC). The Pointe at Pontiac currently comprises 60 beds of supportive living, the Illinois version of Medicaid Waiver assisted living. The State of Illinois provides Medicaid funding to seniors age 65 and older who would otherwise not have the resources to reside in an assisted living facility. In addition to the new memory care …
SAN MATEO, Calif. — Berkadia has brokered the sale of Atria Park of San Mateo, a 135-unit assisted living and memory care community located in San Mateo on the western shores of San Francisco Bay. A partnership between Shelter Real Estate Investment Properties and Calson Management acquired the property for an undisclosed price. The community will be rebranded as Harbor at Hillsdale. Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders of Berkadia arranged the transaction on behalf of the undisclosed seller.
LOCKPORT, N.Y. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Briarwood Manor, a 113-unit, 160-bed assisted living and memory care community located in Lockport, roughly 30 miles northeast of Buffalo. Originally opened in 1982, the property was 44 percent occupied at the time of marketing. The memory care wing was added in 2017. A private owner exiting the seniors housing market was the seller. A private real estate investor acquired the community for an undisclosed price. Dave Balow, Dan Geraghty and Ryan Saul of SLIB brokered the transaction …
ST. LOUIS — Berkadia has brokered the sale of three seniors housing communities located in metro St. Louis. Berkadia arranged the transactions on behalf of the seller, a private equity firm that developed the properties. The communities include The Grande at Creve Coeur in Creve Coeur, roughly 15 miles northwest of St. Louis; The Grande at Laumeier Park in Sunset Hills, approximately 15 miles southwest of St. Louis; and The Grande at Chesterfield in Chesterfield, about 20 miles west of St. Louis. The Grande at Creve Coeur, a 53-unit memory care …
ALISO VIEJO, Calif. — BMO Healthcare Real Estate has provided financing for the acquisition of Belmont Village Aliso Viejo in Aliso Viejo. Harrison Street Asset Management is the borrower. Opened in 2019, the Southern California community totals 156 assisted living and memory care units. Belmont Senior Living developed and operates the property. Harrison Street currently has more than $108 billion in assets under management.
AUSTIN, Texas — Berkadia has secured $30 million for the refinancing of two assisted living and memory care communities located in Texas. Austin, Texas-based Journeyman Group is the borrower. The financing includes two seven-year, floating-rate Freddie Mac loans. Garrett Sacco, Austin Sacco, Steve Muth and Alec Rosenfeld of Berkadia arranged the financing on behalf of Journeyman Group.
LEXINGTON, S.C. — Senior Living Investment Brokerage has arranged the sale of Westminster Memory Care, a 48-unit memory care community located in Lexington, roughly 20 miles west of Columbia, the state capital. Built in 2020, the community is situated on roughly 6.3 acres, with space for future expansion. Trinity Investors sold the property to a Southeast-based owner and operator for an undisclosed price. Daniel Geraghty and Bradley Clousing of SLIB brokered the transaction on behalf of the seller.