BYRAM, Miss. — Berkadia has provided $9.8 million in HUD financing for Willow Creek Retirement Center, a skilled nursing facility in Byram, a suburb of Jackson. Built in 2000, the property features 88 skilled nursing beds, including a 20-bed memory care unit. The facility also features a new 4,000-square-foot therapy gym and spa and 10,000-square-foot wing for private rooms. The borrower is WCR LLC, which Robert Rotolo leads. The 35-year loan represents a 79 percent loan-to-value ratio. Laura Saull Smith of Berkadia’s D.C. Metro office secured the loan, which refinanced …
Mississippi
OXFORD and SOUTHAVEN, Miss. — Marcus & Millichap has arranged the sale of Hermitage Gardens of Oxford and Hermitage Gardens of Southaven, both seniors housing communities in Mississippi. The properties feature a combined 69,526 square feet of space and 116 units. A REIT sold the assets to a private equity firm for an undisclosed price. Krone Weidler and L.J. Tsunis of Marcus & Millichap’s Tampa office represented both the buyer and the seller. William Davis assisted in the closing.
Claiborne Hires Executive Team, Opens Sales Office for Community Under Construction in Mississippi
by Jeff Shaw
GULFPORT, Miss. — Claiborne Senior Living has opened its sales office for The Claiborne at Gulfport Highlands in the coastal city of Gulfport. Scheduled for completion in 2021, the community will feature 70 assisted living residences and 30 memory care apartments. In preparation for the opening, Claiborne has named Chynna Hyde as executive director and Marissa Butterfield as community relations director. Hyde, who will oversee the community’s strategic direction and daily operations, has worked in health care on the Mississippi Gulf Coast for five years. Her expertise includes healthcare management, …
GERMANTOWN, Tenn., and OLIVE BRANCH, Miss. — Greystone has provided a total of $29.4 million in HUD-insured loans for two affiliated senior living facilities in Tennessee and Mississippi. In the first transaction, Greystone executed a $12.2 million loan for Germantown Plantation Senior Living. The 106-unit community is located in Germantown, a suburb of Memphis, and offers assisted living services. The HUD 232/223(a)(7) loan, which is the refinancing of an existing HUD loan, features a 40-year term and amortization. In addition to refinancing existing debt at a lower rate, the loan …
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