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Webinar: Safeguarding Residents and Caregivers During COVID-19

by Sarah Daniels

Seniors Housing Business hosted a panel discussion on June 3 entitled “Safeguarding Residents and Caregivers During COVID-19: Technologies that Prevent Infectious Disease Spread” where expert panelists addressed the importance of technology and creativity in keeping residents safe and connected, both during the pandemic and as nationwide shutdowns are ending. A high-touch industry like seniors housing requires a high-tech approach to ensure residents are healthy and feel part of their community. How can those in the industry elevate services, drive down costs and adapt in the face of new data? Learn …

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Assisted LivingIndustry ContentMemory CareOperationsSkilled NursingVideosWebinars

Webinar: COVID-19’s Impact on Market Valuation

by Sarah Daniels

On May 13, Seniors Housing Business hosted a panel discussion to explore the question: How will the coronavirus pandemic impact market valuation in the seniors housing sector? While there’s been a stock price rebound after REIT value plummeted at the outset of the pandemic, it isn’t clear right now where prices might end up for private and public markets. Join us to learn how the traditional components of seniors housing valuation have been upended by COVID-19 and what factors will most influence future prices. Listen in to hear what experts …

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AcquisitionsMemory CareNewsOregon

SLIB Arranges Sale of 18-Unit Memory Care Community in Oregon

by Jeff Shaw

BEAVERTON, Ore. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Murray Highland Memory Care in Beaverton, a suburb of Portland. The community features 18 memory care units totaling 24 beds. The 12,048-square-foot community was built in 2018 on a 0.7-acre plot. The average rent is $7,350 per month. The seller is a local owner exiting the seniors housing industry. The buyer is a regional operator with an existing portfolio in California, and is looking to expand to Oregon. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB …

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AcquisitionsColoradoMemory CareNews

ESI Arranges Sale of Lakewood Memory Care in Colorado for $8.5M

by Jeff Shaw

LAKEWOOD, Colo. — Evans Senior Investments (ESI) has arranged the sale of Lakewood Memory Care, a 46-unit memory care facility, for $8.5 million, or $185,000 per unit. Located 10 miles south of downtown Denver in Lakewood, the facility totals 52 beds. The property was built in 2016 and is 100 percent private pay. It was 75 percent occupied at the time of sale. ESI represented the seller in the transaction, an independent investor group that had partnered with a national operator.  This was the investor group’s only seniors housing asset. …

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FinanceMemory CareNewsOregon

Carnegie Capital Arranges $7.4M Refinancing for Memory Care Community in Oregon

by Jeff Shaw

EUGENE, Ore. — Carnegie Capital has arranged a $7.4 million refinancing for a 60-unit memory care community in Eugene. The cash-out refinancing represents a 75 percent loan-to-value ratio, and bears an interest rate of 5.55 percent for three years. Residents at the community are approximately half private pay and half Medicaid. The borrower is a regional owner-operator. The lenders are a national bank and a private lender.

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CaliforniaDevelopmentMemory CareNews

Artis Buys 176,269 SF Site in California Mixed-Use Development for Seniors Housing Project

by Jeff Shaw

MORGAN HILL, Calif. — Artis Senior Living has acquired 176,269 square feet within the Evergreen Village mixed-use development in Morgan Hill, a city at the southern tip of Silicon Valley. Artis plans to build a memory care community on the four-acre site, though details and a timeline have not yet been released. Frans Construction Inc. is the general contractor on the site and MH Engineering Co. is the civil engineer. Evergreen Devco Inc., a retail and multifamily development company in the West, is building Evergreen Village on 20.4 acres. The …

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FinanceMemory CareNewsWashington

Lancaster Pollard Provides $7.2M Financing for Rosewood Courte Memory Care in Edmonds, Washington

by Jeff Shaw

EDMONDS, Wash. — Lancaster Pollard has provided $7.2 million in refinancing for Rosewood Courte Memory Care in Edmonds, approximately 15 miles north of downtown Seattle. The Fannie Mae loan provides long-term, fixed-rate financing. The borrower will use the funds for capital improvements. Although the borrower was not disclosed, the property is listed on Northwest Care Senior Living’s website. Grant Goodman, Casey Moore and Doug Harper led the transaction for Lancaster Pollard.

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FinanceMemory CareNew YorkNews

Live Oak Funds $5.8M Refinancing for Home of the Good Shepherd Community in Upstate New York

by Jeff Shaw

SARATOGA SPRINGS, N.Y. — Live Oak Bank has provided a $5.8 million loan to refinance Home of the Good Shepherd Saratoga in Saratoga Springs, approximately 30 miles north of Albany. Home of the Good Shepherd is a faith-based, nonprofit operator with four communities in Upstate New York. The loan will refinance the Saratoga location’s 42-unit memory care facility. The property was temporarily closed and extensively renovated in 2017, and has since reopened, leased up and fully stabilized. The five year, floating-rate, balance-sheet loan allowed the borrower to consolidate debt and …

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FinanceMemory CareNewsOregon

Lancaster Pollard Provides $4.9M HUD Refinancing for Marjorie House Memory Care in Oregon

by Jeff Shaw

MCMINVILLE, Ore. — Lancaster Pollard has arranged a $4.9 million HUD loan to refinance Marjorie House, a 45-bed memory care community in McMinnville, approximately 35 miles southwest of Portland. Senior Development Resources operates the community. The borrower is Giza Development, which used the original bridge loan from OREC Structured Finance Co. to buy out other investors and refinance construction debt. Under HUD rules, the project was immediately available for permanent refinancing, and Giza received long-term rate through the FHA Section 232/223(f). Ross Holland led the transaction for Lancaster Pollard.

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AcquisitionsAssisted LivingMemory CareNewsPennsylvania

ESI Brokers $18.2M Sale of Hidden Meadows Campus Near Philadelphia

by Jeff Shaw

SELLERSVILLE, Pa. — Evans Senior Investments (ESI) has negotiated the sale of Hidden Meadows on the Ridge and The Laurels, a 94-unit assisted living and memory care campus in Sellersville, approximately 30 miles north of Philadelphia. An independent owner-operator sold the property, its only asset. An East Coast-based REIT bought the campus for $18,200,000 or $194,000 per unit. Hidden Meadows on the Ridge features 54 assisted living units, while The Laurels Memory Care features 40 units. Built in 2007 and renovated in 2018, the community boasts many recent updates including …

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