New Hampshire

HANOVER, N.H.; WINDHAM, N.H.; WOODSTOCK, Vt.; and WHITE RIVER JUNCTION, Vt. — Walker & Dunlop has provided a $46 million HUD 232/223(f) refinancing for four Terrace-branded seniors housing communities in New England. Walker & Dunlop’s Frank Cassidy led the team in refinancing a bridge loan that the Walker & Dunlop team previously arranged in December 2020 to facilitate a partner buyout and re-leverage the portfolio. The bridge loan was structured as eligible debt in anticipation of the HUD takeout. The portfolio refinancing comprised: Wheelock Terrace, a 70-unit assisted living facility …

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KEENE, N.H. — Covenant Living Communities and Services has acquired Hillside Village Keene, a continuing care retirement community (CCRC) in Keene, 20 miles north of the Massachusetts border. Covenant acquired the community out of bankruptcy and has renamed it Covenant Living of Keene. Grandbridge Real Estate Capital’s David Kliewer, Jay Jordan and Allen McMurtry arranged the $33 million sale. Situated on 66 acres, the property opened in 2019 and features 141 independent living units, 43 assisted living units, 18 assisted memory care units and 20 nursing care suites. Entrance fees …

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KEENE, N.H. — Covenant Living Communities and Services has agreed to acquire Hillside Village Keene, a continuing care retirement community (CCRC) in Keene, just north of the Massachusetts border. Covenant is purchasing the community out of bankruptcy in a deal scheduled to close in early 2022. The price was not disclosed. Hillside Village opened in 2019 with 141 independent living units, 43 assisted living units, 18 assisted living/memory care units and 20 nursing care suites. Its ability to achieve a healthy occupancy was severely interrupted by a suspension of sales …

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LONDONDERRY, N.H. — Edgewood Senior Solutions Group of Massachusetts has broken ground on The Baldwin, a continuing care retirement community (CCRC) in Londonderry, approximately 45 miles northwest of Boston. The developer describes presales as “brisk” and expects to open the community in summer 2023. “What we’ve seen in the senior living industry over the past 18 months is that a well-managed senior living community has been a great place to live during the pandemic,” says Marlene Rotering, CEO of The Baldwin and its sister community, Edgewood Retirement Community in North …

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RYE, N.H. — Benchmark Senior Living has completed a community enhancement initiative and rebranding of its memory care community in Rye. Evolve at Rye is now Benchmark at Rye. Benchmark purchased and began operating the community in November 2020. In addition to offering long-term residency, Benchmark at Rye is also a short-term respite care provider for those needing a break from caregiving, require extra care temporarily or a seek a trial of community living. Benchmark is looking to add traditional assisted living on the same campus.

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MANCHESTER, BEDFORD and NASHUA, N.H. — Greystone has provided $23.8 million in HUD-insured loans to refinance a trio of assisted living facilities in New Hampshire. The borrower is The Courville Company, which owns the communities: Courville at Manchester in Manchester; Courville at Carlyle Place in Bedford; and Courville Nashua & Aynsley in Nashua. Lisa Fischman, vice president in Greystone’s New York office, originated the interest rate reduction (IRR) transaction. The IRR reduces the interest rate on an existing HUD-insured loan, maintaining the existing maturity and loan amount. “An IRR is …

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RYE, N.H. — Benchmark Senior Living has acquired the real estate and operations of Evolve at Rye, a 40-unit memory care community in Rye, located approximately midway between Boston and Portland, Maine. Benchmark operates 62 seniors housing communities in New England, of which 60 feature memory care services. This is the company’s sixth property in New Hampshire. “Dementia affects over 100,000 people in New Hampshire, and there are not enough resources to support Seacoast families,” says Allison Melahouris, senior vice president of operations for Benchmark’s Mind & Memory Care division. …

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LONDONDERRY, N.H. — Edgewood Senior Solutions Group has acquired land in Londonderry’s Woodmont Commons, where the group plans to build senior living community called The Baldwin. Project plans call for 190 independent living apartments. Several of the community’s amenities, including a spa and salon, a convenience store and multiple dining venues, will be open to the public. “Our location in Woodmont Commons — and the mixed-use aspect being built into The Baldwin — adds a valuable intergenerational dimension you don’t find in most senior living communities,” says Marlene Rotering, CEO …

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