Thursday, November 21, 2024
Read the Magazine Subscribe

Montana

MontanaNewsPeople

The Springs Names Joel Allen as Executive Director of The Springs at Whitefish in Montana

by Jeff Shaw

WHITEFISH, Mont. — The Springs Living has named Joel Allen as the new executive director of The Springs at Whitefish in Whitefish, a resort town in the northwest quadrant of the state.  Allen joins The Springs Living after seven years with Logan Health Medical Center in Kalispell, where he most recently served as a practice manager, overseeing clinic staffing, compliance and patient satisfaction. He also has significant experience as a financial advisor and operations manager.  Allen has a master’s degree in international finance and business from the University of the …

Continue Reading
0 FacebookTwitterLinkedinEmail
MontanaNewsOregonPeople

The Springs Living Appoints Two Regional Directors of Operations

by Jeff Shaw

MCMINNVILLE, Ore. — The Springs Living, a McMinnville-based operator, has appointed two new regional directors of operations (RDOs).  Ole Lindbo, who is new to the organization, has been named RDO of the northern Oregon region. Tim Minks, who has served as an executive director at The Springs Living for more than three years, will become RDO of the Montana region. With over 15 years of experience leading senior living communities, Lindbo comes to The Springs Living from his previous role as RDO at Sapphire Health Services in Oregon. Previously, he …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAffordable HousingMontanaNews

Community Preservation Partners Acquires Two Affordable Communities in Great Falls, Montana

by Jeff Shaw

GREAT FALLS, Mont. — Community Preservation Partners (CPP) has acquired two affordable seniors housing communities in Great Falls: Sunshine Village and Broadview Manor East & West. CPP plans to renovate both properties, and has partnered with The Hampstead Cos., which will be the owner and co-developer. This is the second project closing in Montana for CPP and Hampstead together, totaling three communities in the area. CPP and Hampstead’s total development investment is approximately $23.1 million, which includes the purchase price of $10.8 million and an estimated renovation cost of $72,850 …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAffordable HousingFinanceMontanaNews

PGIM Provides $16.1M HUD Loan for South Forty Apartments in Billings, Montana

by Jeff Shaw

BILLINGS, Mont. — PGIM Real Estate has provided $16.1 million in fixed-rate FHA financing to Lincoln Avenue Capital (LAC) for the acquisition and rehabilitation of South Forty Apartments, an affordable seniors housing community in Billings. The property features 101 units and is 100 percent subsidized by the Housing Choice Voucher Program, also known as Section 8, the federal government’s program for assisting low-income families, the disabled, and the elderly afford housing. In order for the property owner to receive tax credits in the future, a land use restrictive agreement (LURA) …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingMontanaNews

SLIB Negotiates Sale of 32-Unit Community in Billings, Montana

by Jeff Shaw

BILLINGS, Mont. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 32-unit assisted living facility in Billings. The community was built in 2015, spanning approximately 16,044 square feet on 1.4 acres of land. The seller was a local owner exiting the senior living market. The buyer is a nonprofit located in Montana. The price was not disclosed. Jason Punzel, Vince Viverito and Brad Goodsell of SLIB handled the transaction.

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsMontanaNews

SLIB Negotiates Sale of 159-Unit Big Sky Senior Living in Butte, Montana

by Jeff Shaw

BUTTE, Mont. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Big Sky Senior Living in Butte. The community features 159 units of independent living, assisted living and memory care. The 87,000-square-foot asset was built in 1997 and sits on 11.3 acres of land. The seller is a locally based regional owner-operator. The buyer is a regional owner-operator based in the West that is expanding in the Mountain West. The price was not disclosed. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction.

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsMontanaNewsOregon

Harrison Street Sells Five Seniors Housing Properties in Oregon, Montana to Springs Living for $193.5M

by Jeff Shaw

MEDFORD and EUGENE, Ore., and BUTTE and BILLINGS, Mont. — Harrison Street has completed the disposition of five senior housing properties valued at $193.5 million to The Springs Living. The properties were held across several of Harrison Street’s U.S Opportunity Funds and related co-investment vehicles. The portfolio consists of 622 independent living, assisted living and memory care units in Medford, Eugene, Butte and Billings. As of December 2021, the properties had an average occupancy of 93 percent. Further details on the properties were not disclosed.

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceMontanaNewsOregon

LTC Provides $25M Recapitalization for Five-Property Portfolio in Oregon, Montana

by Jeff Shaw

OREGON and MONTANA — LTC Properties Inc. (NYSE: LTC) has originated a $25 million mezzanine loan for the recapitalization of a five-property seniors housing portfolio. The loan has a term of five years and two months, with two one-year extension options. It bears interest at 8 percent, with an IRR of 11 percent. Located in Oregon and Montana, The Springs Living operates the five communities, which include independent living, assisted living and memory care and total 621 units. The Springs is a new operator partner for LTC. Aron Will, Austin …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingMontanaNewsWyoming

SLIB Negotiates Sale of Two Communities in Montana, Wyoming

by Jeff Shaw

CODY, Wy., and GREAT FALLS, Mont. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living communities, located in Cody and Great Falls. The portfolio totals 107 units of assisted living and independent living. The buyer is an Oregon-based regional owner-operator familiar with the region. The seller and price were not disclosed. Bradley Clousing, Jason Punzel and Jeff Binder of SLIB handled the transactions.

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsFinanceMontanaNewsWashington

Ziegler Arranges $42.6M Acquisition Financing for Three-Property Portfolio in Northwest

by Jeff Shaw

BOZEMAN, Mont., and SEATTLE — Ziegler has arranged $42.6 million in financing for the acquisition of two seniors housing properties near Seattle and another in Bozeman. The borrower is Radiant Senior Living, which has brought the three properties into its portfolio. The financing consisted of a combination of senior and mezzanine debt, with Congressional Bank providing the senior debt and a national senior housing fund providing the mezzanine debt. Radiant acquired the portfolio from a publicly traded healthcare REIT as part of its expansion efforts across the country. The properties …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts