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Wellspring-Apartments
Affordable HousingDevelopmentFloridaNews

ANF Completes 99-Unit Affordable Seniors Housing Community Near Miami

by Hayden Spiess

OPA-LOCKA, Fla.  — Construction and development firm ANF has completed the construction of Wellspring Apartments, a new affordable seniors housing community located in Opa-locka, roughly 15 miles northwest of Miami. The Integral Group was the developer.  Totaling 99 units, Wellspring Apartments features studio, one- and two-bedroom apartments. Residences are reserved for seniors earning at or below 60 and 50 percent of the area median income (AMI), with 67 units reserved for residents earning at or below 50 percent of the AMI and 32 units reserved for residents earning at or below …

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FinanceGeorgiaNewsPennsylvania

BWE Arranges $52M Bridge Financing for Senior Living Portfolio

by Hayden Spiess

ATLANTA and PHILADELPHIA — BWE has arranged a $52 million bridge loan to finance a portfolio of senior living communities located within the Atlanta and Philadelphia metros.  The portfolio comprises independent living, assisted living and memory care properties.  Ryan Stoll and Taylor Mokris of BWE secured the three-year, floating-rate financing on behalf of the undisclosed borrower. 

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Sarah-Neuman-Skilled-Nursing-Facility_Mamroneck-N.Y
AcquisitionsNew YorkNewsSkilled Nursing

Kiser Group Brokers $76M Sale of Skilled Nursing Facility in New York 

by Hayden Spiess

MAMARONECK, N.Y. — Kiser Group has brokered the sale of Sarah Neuman Skilled Nursing Facility in Mamaroneck, roughly 30 miles northeast of New York City. The property totals 250 beds.  Mark Myers of Kiser Group arranged the sale. The seller was a religious nonprofit organization.  According to Kiser Group, the property was initially under contract for $84 million, but the first buyer had to withdraw from the transaction due to rising interest rates. A second seller presented an offer of $72 million. Ultimately, Myers secured a third buyer and negotiated the …

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Hale-Nā-Koa-O-Hanakahi_Hilo-Hawaii
Affordable HousingDevelopmentHawaiiNews

EAH Housing Completes $58M Affordable Seniors Housing Development in Hawaii

by Hayden Spiess

HILO, Hawaii — EAH Housing has opened Hale Nā Koa ‘O Hanakahi, a newly developed affordable seniors housing development in Hilo.  Residences are reserved for seniors age 62 and older earning at or below 80 percent of the area median income, with preference given to veterans and surviving spouses. This marks the first affordable senior living development for veterans in Hawaii.  EAH Housing developed the $58 million project in partnership with Hawaii Island Veterans Memorial Inc.   The property totals 91 one-bedroom apartments across three two-story buildings, with an additional unit for …

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Overture-Chapel-Hill
AcquisitionsActive AdultNewsNorth Carolina

Principal Asset Management Acquires Two Active Adult Communities Totaling 373 Units in North Carolina

by Hayden Spiess

MORRISVILLE and CHAPEL HILL, N.C. — Principal Asset Management has acquired two active adult communities totaling 373 units in the Raleigh-Durham region of North Carolina. The properties include Overture Cary, located in Morrisville, and Overture Chapel Hill, situated near the University of North Carolina at Chapel Hill. The communities were developed in 2021 and 2020, respectively, and stand at five stories. The seller and sales price were not released.

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AcquisitionsAssisted LivingFinanceMemory CareNewsTexas

Berkadia Arranges Sale, Financing of 118-Unit Property in Metro Dallas

by Hayden Spiess

RICHARDSON, Texas — Berkadia has arranged the sale and financing of Appletree Court, a 118-unit senior living property located in Richardson, roughly 15 miles north of downtown Dallas. The community features assisted living and memory care units.  A joint venture between Marquee Capital and Winterpast Capital Partners was the seller. The buyer was a joint venture between Virtus Real Estate Capital and Winterpast. Vitality Senior Living will continue to operate the property.  Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia represented the seller in the transaction. Austin Sacco, …

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AcquisitionsAssisted LivingKentuckyMemory CareNews

SLIB Brokers Sale of Two-Property Portfolio in Central Kentucky

by Hayden Spiess

BARDSTOWN AND ELIZABETHTOWN, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a portfolio consisting of two central Kentucky properties to an undisclosed West Coast-based buyer. The communities, which are located about 30 miles apart from each other in Bardstown and Elizabethtown, respectively, both offer assisted living and memory care services. The undisclosed seller was a Southeast-based owner and operator that was seeking to exit the Kentucky market in order to concentrate on its core geographic areas. In conjunction with the sale, the buyer has brought in …

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Forum-Desert-Harbor_Peoria-Ariz
ArizonaNew MexicoNewsOperations

Stellar Senior Living Adds Six Communities to Management Portfolio

by Hayden Spiess

SALT LAKE CITY — Owner and operator Stellar Senior Living has added six new communities to its management portfolio.  The Utah-based company will now operate Granite Gate Prescott, Arizona; The Forum at Desert Harbor in Peoria, Arizona; The Gardens of Scottsdale and Pueblo Norte in Scottsdale, Arizona; The Forum at Tucson in Tucson, Arizona; and Montebello on Academy in Albuquerque, New Mexico.  Stellar will manage the properties on behalf of Diversified Healthcare Trust, which owns the communities.  “These communities are located in markets we know and trust, and they complement our …

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DevelopmentFinanceFloridaNews

CFG Provides $179.8M Construction Loan to Erickson Senior Living

by Hayden Spiess

SARASOTA COUNTY, Fla. — Capital Funding Group has provided a $179.8 million construction loan to Erickson Senior Living. Erickson will use the financing for the first phase of development of Emerson Lakes, a continuing care retirement community (CCRC) currently underway in Sarasota County.  Situated within the Lakewood Ranch community, the first phase of Emerson Lakes will comprise four buildings — three residential buildings and one community building. Together, the three residential buildings will total 319 independent living units. Upon completion, Emerson Lakes will span 87 acres with 1,015 independent living residences …

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Company NewsFinanceNews

Berkadia Expands Bridge Financing Program

by Hayden Spiess

NEW YORK CITY — Berkadia has expanded the capital available for bridge-to-permanent financing through its seniors housing & healthcare platform. Steve Ervin, Michael Cale and Lisa Burgess of Berkadia facilitated the expansion. The capital available for the bridge financing of seniors housing communities has been more than doubled.  “There is significant demand for bridge financing products in the seniors housing and healthcare space,” said Burgess in a statement. “The increased capital available for bridge loans is a crucial addition to our expanding range of capital products, which we have been developing …

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