CHICAGO — Canyon Partners Real Estate has provided a $47 million senior loan for the refinancing of American House Oak Park, a 174-unit seniors housing community in Chicago. A joint venture between affiliates of AEW Capital Management and REDICO was the borrower. Located in the Oak Park neighborhood, the property comprises 74 independent living, 65 assisted living and 35 memory care units. Amenities at the community include a rooftop lounge, roof terraces, fitness options, a salon, game room, art studio and theater. Newmark facilitated the financing.
Active AdultAffordable HousingAssisted LivingCCRCFeaturesFinanceIndependent LivingIndustry ContentInvestmentMemory CareVideosWebinars
Webinar: Seniors Housing Shift — How Underwriting, Valuation, and Capitalization are Changing
The June 5 webinar “Seniors Housing Shift: How Underwriting, Valuation, and Capitalization Are Changing” brought together industry leaders to share insights on evolving investment strategies, lending dynamics and value trends across the seniors housing sector. Sponsored by Blueprint, the session offered expert commentary on a transforming market as operators and capital providers recalibrate while costs, occupancy, margins and interest rates stabilize. The panel examined shifts in underwriting assumptions, investor return expectations and the availability of both debt and equity capital. With a focus on market fundamentals and practical strategies, the …
SHERWOOD, Ore. — BMO Healthcare’s Real Estate Finance group has provided a $41 million loan for the acquisition of The Ackerly at Sherwood, a senior living community located in Sherwood, roughly 15 miles southwest of Portland. A joint venture between an institutional investor and Merrill Gardens is the borrower. Merrill Gardens will manage and operate the property. The Ackerly at Sherwood totals 130 units with independent living, assisted living and memory care residences. Based in Seattle, Merrill Gardens manages more than 60 seniors housing communities across 20 states.
MONTEBELLO, N.Y. — Developer and owner FilBen Group and partner private equity firm RSF Partners have opened Braemar Living at Montebello, a $54 million senior living community in Montebello, roughly 40 miles outside New York City. Totaling 133,675 square feet and 133 apartments across four stories, the property features assisted living residences and a dedicated 32-bed memory care unit. The community can accommodate up to 200 residents. Amenities at the community include a pub and game room, café, business lounge, general store, arts and crafts room, family lounge, beauty salon, coffee …
LOS ANGELES —Live Oak Bank has provided a $25 million bridge-to-sale loan to finance a community located near Los Angeles. An entity doing business as Harbert Seniors Housing Fund I LP is the borrower. The financing features a three-year initial term, 36 months of interest-only payments and $2.8 million in potential future earnout proceeds. The property totals 97 units, with independent, assisted living and memory care residences.
PORTLAND, Ore. — Merrill Gardens, a senior living owner and operator, has added three communities to its Oregon portfolio. Located in metro Portland, the properties include Merrill Gardens at Cedar Mill, Merrill Gardens at Sherwood and Merrill Gardens at Hillsboro. Merrill Gardens acquired the communities as part of a joint venture with PGIM. An ownership group led by Rembold sold the Cedar Mill and Sherwood properties. Built in 2016, Merrill Gardens at Cedar Mill in Portland totals 163,975 square feet with 147 independent living, assisted living and memory care units. Merrill …
Active AdultAffordable HousingAssisted LivingCCRCContent PartnersIndependent LivingIndustry ContentMemory CareOperationsSkilled NursingTechnology
How to Leverage TV to Improve Operating Margins, Resident Experiences
After seniors housing occupancy experienced a dramatic slump during the pandemic lockdowns and a plodding recovery, demand for senior living is now as strong as ever. However, financial pressures such as rising labor, healthcare and insurance costs continue to plague the industry, and experts don’t expect much relief from these factors in the near future. Against that backdrop, seniors housing owners and operators are seeking innovative ways to balance their budgets via new revenue sources without compromising the resident experience. One solution that can satisfy those criteria incorporates a technology …
ORLANDO, Fla. — JLL and HJ Sims have arranged $134.3 million in tax-exempt bond financing for a seniors housing development currently underway in Orlando. Dubbed Millenia Moments Orlando, the community will feature 151 independent living, 78 assisted living and 32 memory care units. Trinity Community Development Foundation, a nonprofit formed by Trinity Broadcasting Network (TBN), is the developer and borrower. Completion of the facility, which will total 316,900 square feet, is scheduled for 2027. The community will feature floorplans in one- and two-bedroom layouts. Memory care residences will include 26 private …
LOS ALAMITOS, Calif. — Marcus & Millichap has brokered the $34.5 million all-cash sale of two senior living properties located in Los Alamitos. The properties include Alamitos West Health & Rehabilitation Center, a 142-bed skilled nursing facility and Katella Senior Living, a 73-unit, 77-bed assisted living and memory care community. International Equity Partners was the buyer. Nick Stahler, Michael Mooney and Hap Knowles of Marcus & Millichap represented the undisclosed seller in the transaction. Stahler procured the buyer. Tony Solomon is Marcus & Millichap’s broker of record in California.
MURFREESBORO, Tenn. — Tennessee-based National Health Investors Inc. (NHI) has acquired a portfolio of six Agemark memory care communities located in Nebraska for $63.5 million. The seller, Agemark Senior Living, will continue to operate the properties, which total 205 units, on a 15-year master lease with two five-year renewal options. “Agemark is an innovative leader in providing exceptional personalized care to memory care residents and we have long admired their commitment,” says Eric Mendelsohn, president and CEO of NHI. “That is why we are thrilled to announce our new partnership today, …