Seniors housing developers have noted that both debt and equity have become hard to secure as a result of the COVID-19 pandemic. Lenders are requiring much lower leverage for loans, and many capital partners are staying on the sidelines until
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VIRGINIA — Monticello has provided $42.1 million in financing for the acquisition of a skilled nursing facility located in Virginia. The transaction also includes a $3.5 million working capital loan to the operating companies of the properties provided by Monticello’s
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TEXAS — Blueprint Healthcare Real Estate Advisors has negotiated the sale of four skilled nursing facilities in Texas. The properties feature a combined 340 beds. Two were built in the late 1960s and two were built in 2000. A REIT
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HIBBING, Minn. — The Minneapolis office of Colliers Mortgage, part of Colliers International | U.S., has provided two HUD 223(a)(7) loans totaling $7.3 million to refinance two age-restricted multifamily properties in Hibbing, located in the northern part of the state
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NEW YORK CITY — New Senior Investment Group Inc. (NYSE: SNR), a New York City-based seniors housing REIT, has elected Norman Jenkins to its board of directors. Jenkins is president, CEO and managing partner of Capstone Development, a privately held
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SAN DIEGO —Grandbridge Real Estate Capital has hired David Rothschild and Mary Christian to lead the company’s new West Coast investment sales team based in San Diego. Both previously with Cushman & Wakefield, Rothschild and Christian focus solely on senior
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WELLESLEY HILLS, Mass. — Truist Financial Corporation has provided a $136 million loan to National Senior Campuses, a continuing care retirement community (CCRC) operator based in Wellesley Hills. The financing will be used toward five of the borrowers communities, totaling
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RICHMOND, Va. — Enterprise Community Development has completed construction of The Rosa, an affordable seniors housing community in Richmond’s historic Jackson Ward neighborhood. Partners on the project include the City of Richmond, the Richmond Redevelopment & Housing Authority, Virginia Housing,
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ST. LOUIS — SRZ Management has acquired NHC Healthcare Town & Country, a 282-bed skilled nursing facility in St. Louis. The seller was National Healthcare Corp. The price was not disclosed. SRZ plans to rebrand the property as Town &
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NEW YORK CITY — RKTB Architects has been selected as the designer of Catholic Charities Loreto Apartments, an affordable seniors housing community in Brooklyn. The property will feature 135 units, including 80 for formerly homeless seniors. The remainder of the
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NEW YORK CITY — Dwight Capital, a private commercial real estate lender based in New York City, has hired Ryan Miles as managing director and chief LEAN/healthcare underwriter. Prior to joining Dwight Capital, Miles was a managing director and chief
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EAST ORANGE, N.J. — Colliers International has arranged the $94 million sale of Norman Towers, a Section 8 seniors housing project located in the Newark suburb of East Orange. The 405-unit property has not been renovated since its original construction
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HAMILTON TOWNSHIP, N.J. — The Kislak Company Inc. has brokered the $16.4 million sale of Twin Ponds, a 75-unit active adult community in Hamilton Township, located outside Trenton. Justin Lupo and Jason Pucci of Kislak represented the sellers, Crestwood Ventures
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BRUNSWICK, Ohio — KeyBank Real Estate Capital has secured a $10.5 million FHA 232/223(f) loan for the refinancing of Brunswick Pointe Transitional Care in Brunswick, about 20 miles southwest of Cleveland. Built in 2017, the 90-bed skilled nursing facility offers
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EDINA, Minn. — The Edina Housing Foundation has selected Lupe Development Partners and Ecumen to develop 118 units of affordable seniors housing in Edina. The project will be built on a parcel of land near Southdale Mall that the foundation
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BOONVILLE, N.Y. — Greystone has provided a $10.4 million bridge loan for the refinancing of Sunset Nursing & Rehabilitation Center, a 120-bed skilled nursing facility in Boonville, about 70 miles northwest of Syracuse. The property was built in phases between
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PENSACOLA, FLA. — The Paces Foundation has opened Brownsville Manor, an affordable housing community for seniors in Pensacola. The property offers 88 one- and two-bedroom units and is over 80 percent leased. Brownsville Manor is the second affordable housing community
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FORT MYERS, Fla. — Ziegler has arranged $107.7 million in bond financing for Cypress Cove at HealthPark Florida Inc. The proceeds of the bonds will be used to refinance outstanding debt, reimburse and fund certain capital expenditures, fund a debt
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HEALDSBURG, Calif. — The Healdsburg Planning Commission has unanimously approved the development of Enso Village, a seniors housing development in Northern California’s Sonoma County wine country. Enso Village will sit on 16 acres of land, part of a larger mixed-use
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CEDAR FALLS, Iowa, MARSHALLTOWN, Iowa, and AUSTIN, Minn. — The Minneapolis office of Colliers Mortgage has closed three HUD 223(a)(7) loans totaling $18.8 million to refinance three Village Cooperative properties in the Midwest totaling 162 units: Village Cooperative of Cedar
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CORAM, N.Y. — Racanelli Construction Co. has completed construction of the All American Assisted Living at Coram, in the Long Island Hamlet of Corm. The property offers assisted living, memory care and respite care services. The project was valued at
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There are two vaccines for COVID-19 awaiting approval by the U.S. Food and Drug Administration, signaling that there is an end to the pandemic on the distant horizon. However, the impact of the outbreak on the seniors housing industry may
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STERLING, Va. — Avanath Capital Management has acquired Cascades Village, a 150-unit affordable seniors housing community in the Washington, D.C. suburb of Sterling, for $27.2 million. “Avanath was attracted to Sterling because home pricing and existing market-rate product in the
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PARKER, Colo. — PGIM Real Estate has arranged a $60 million Freddie Mac loan for the refinancing of Lincoln Meadows Senior Living in Parker. Trace Wilson of PGIM originated the transaction on behalf of Denver-based Spectrum Retirement Communities, which owns
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TITUSVILLE, Fla. — Housing Trust Group (HTG) has completed construction of Luna Trails, a $19.6 million, 86-unit affordable housing development for seniors in Titusville, along Florida’s Space Coast region. Apartments are reserved for seniors ages 55 and older earning at
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FOXBORO, Mass. — Benchmark Senior Living has announced expansion plans for New Pond Village in the Boston suburb of Foxboro. The project will add 19 assisted living units, bringing the community’s total to 36 units. The new apartments will be
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CHESAPEAKE, Va. — Commonwealth Senior Living has acquired Cedar Manor Assisted Living, a seniors housing community in Chesapeake, located in the southeast corner of the state along the Atlantic Ocean and North Carolina border. Chesapeake Regional Healthcare built the property
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