STOCKBRIDGE and MORROW, Ga. — Evans Senior Investments (ESI) has arranged the sale of two GoldenCrest Assisted Living communities in Georgia. The portfolio consists of a community in Stockbridge and a community in Morrow, approximately eight miles apart south of Atlanta. The portfolio sold for $12 million, or $124,000 per unit. Built in 1990, GoldenCrest at Eagles Landing in Stockbridge is a 57-unit assisted living community that is consistently over 90 percent occupancy. Built in 1996, GoldenCrest at Morrow is a 40-unit community that recently transitioned all units to memory …
Memory Care
Frontier Management Takes Over Operations at Former Autumn Leaves Location in Metro Atlanta
by Jeff Shaw
WOODSTOCK, Ga. — Frontier Management has taken over operations at The Reserve at Towne Lake, a 48-unit memory care community in the northern Atlanta suburb of Woodstock. The community is formerly an Autumn Leaves location. Frontier Management was founded in 2000 and currently operates 101 seniors housing communities in 11 states.
NEW YORK CITY — JLL has arranged a $47.5 million loan for the refinancing of The 80th Street Residence, an assisted living facility in Manhattan. The property specializes in enhanced memory care and comprises 61 units and 70 beds. IDB Bank, a New York-based private and commercial bank, provided the loan. Peter Rotchford, Zach Rigby, Jason Skalko and Dillon Donald of JLL arranged the loan on behalf of property owners Wayne Kaplan and Larry Morehead.
NEW YORK CITY — New York-based Meridian Capital Group’s seniors housing and healthcare team has arranged $60 million in financing for two portfolios of memory care assets across Ohio, Georgia, South Carolina, Colorado, California and Tennessee. Ari Adlerstein, Ari Dobkin and Josh Simpson of Meridian negotiated the two transactions, which will refinance existing debt on the properties. In the first transaction, Meridian arranged $27.5 million for four memory care facilities totaling 264 beds in Ohio and Georgia. The five-year loan features a fixed rate and limited personal guarantees. In the …
VIRGINIA and TEXAS — Meridian Capital Group’s seniors housing and healthcare team arranged $58 million in senior and mezzanine financing to refinance a portfolio of memory care facilities in Virginia and Texas. The team also arranged the sale of an assisted living and memory care facility in Richmond, Va., and arranged $6 million in acquisition and construction financing in conjunction with the sale.