MAUMELLE, Ark. — Evans Senior Investments (ESI) has arranged the sale of Stonehaven Assisted Living, a 60-unit facility in Maumelle, an affluent community located about 17 miles northwest of Little Rock. ESI represented the seller, a national healthcare system, in the transaction. The sales price was undisclosed. The buyer was a private company that partnered with a Midwest-based operator, and the deal marked their second investment in Arkansas. Stonehaven, which opened in 2007, has long served both private pay and Medicaid residents. However, over the past year, Stonehaven faced some major difficulties, …
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CHICAGO — MonticelloAM and its affiliates have provided $59.2 million in bridge and working capital financing for a portfolio of skilled nursing facilities in metro Chicago. Proceeds from the $52.2 million bridge loan were used for the acquisition of three skilled nursing facilities. The $7 million working capital revolver will be used to support the day-to-day operations across the properties, covering over 700 licensed beds. Karina Davydov, a managing director at MonticelloAM, originated the loan that carries a two-year term with two six-month extensions. “MonticelloAM understands the challenges borrowers are facing …
TAYLOR, Mich. — Bayview PACE has provided $4.3 million in commercial property-assessed clean energy (C-PACE) financing for the 81-unit Hampton Manor of Taylor seniors housing community, located about 17 miles southwest of Detroit. The sponsor was Build Senior Living, the development arm of Hampton Manor Assisted Living. The 81-unit Hampton Manor of Taylor is situated on a six-acre landscaped site that includes 60 parking spaces. Licensed for 102 beds, Hampton Manor-Taylor features 65 assisted living units and 16 memory-care units with extra capacity for second persons and/or additional companion units. …
MANCHESTER, Conn. — Connect55+ Manchester, an active adult community located about 10 miles east of Hartford, Conn., will host a grand opening in November. The community has received its certificate of occupancy, and the property management team has begun leasing efforts. Details of the grand opening had not been finalized as of this writing. Connect55+ Manchester offers 128 one- and two-bedroom apartments. All units will have either a private patio or a private balcony. The property’s amenities include a movie theater, fitness center, library with a fireplace, spacious community center, …
ATLANTA — Investment markets have been tumultuous over the past year, with high interest rates and inflation impacting the flow of debt and equity across the commercial real estate industry. Last year, many investors and brokers chose to weather the storm and try to make it to 2025, when it was estimated that interest rates would begin to moderate. Recently, however, conditions seem to be improving in the seniors housing sector, where many investors are leaving behind the “survive till 2025” strategy that defined 2023. Editor’s note: InterFace Conference Group, a …
MALVERN, Pa., and KENSINGTON, Md. — Mesa West Capital has provided AEW Capital Management LP with $114.6 million in first-mortgage debt across two loans to refinance the seniors housing communities of Echo Lake in Malvern and Modena Reserve at Kensington in Kensington. Terms of the loans were not disclosed. AEW delivered the 250-unit Echo Lake to the market in 2020 alongside joint venture partner Sage Senior Living Inc., which operates the community. Located about 27 miles northwest of Philadelphia in Malvern, Echo Lake offers a mix of independent and assisted …
PLYMOUTH, Mass. — Senior Living SMART (SLS) has released its newest resource for senior living professionals. The book is titled “SMART(er) Marketing for Senior Living Communities: How to Work Smarter, Not Harder to Grow Occupancy.” The co-authors are industry experts Deborah Howard, CEO of SLS, and Andréa Catizone, president and COO of SLS, a full-service senior living marketing agency based in Plymouth. The book is billed as a comprehensive guide to mastering senior living marketing in a complex, ever-evolving landscape. Whether you’re a digital marketer, vice president of sales, or …
MARYSVILLE, Ohio — Senwell Senior Investment Advisors has brokered the sale of Memorial Gables, a 112-bed skilled nursing facility located in Marysville, approximately 34 miles northwest of Columbus in Union County. The buyer was an Ohio-based operator, which has more than 25 years of experience in Ohio’s senior care industry and operates numerous facilities across the state. Ohio. Union County was the seller of the facility, which had been operated as part of the Memorial Health system. Toledo, Ohio-based Senwell engaged more than 400 organizations nationally, with 68 signing non-disclosure …
MADISON and BIRMINGHAM, Ala. — Atlas Senior Living has assumed management of two communities in northern Alabama: Monark Grove Madison in Madison and Monark Grove Greystone in Birmingham. KIRCO, a national commercial real estate development and investment firm based in Troy, Mich., built and owns the communities. KIRCO is also a partner with Atlas at the Legacy Reserve at Fritz Farm community in Lexington, Ky. “Our experience working together in Kentucky has set a high bar, and we look forward to continuing to redefine the senior living experience through our …
PLAYA VISTA, Calif. — Senior Resource Group (SRG), a developer and operator of luxury senior living communities, has assumed ownership and operation of Fountainview at Gonda in Playa Vista, a neighborhood in the Westside area of Los Angeles. The property was previously owned and operated by Los Angeles Jewish Health (LAJHealth). SRG is renaming the community Avocet Playa Vista. A continuing care retirement community, Avocet Playa Vista offers independent living, assisted living, memory care and integrated healthcare, including rehabilitative therapies. Residents own a long-term contract for care and services in a well-appointed private …