ARKANSAS — Monticello has provided a $70 million, five-year loan to refinance a portfolio of seven skilled nursing facilities totaling 953 beds throughout Arkansas. The borrower is a regional operator. Further details on the loan and properties were not disclosed.
LITTLE ROCK, Ark. — Twain Financial Partners has provided $11 million in ground lease capital to The Summit, a senior living community in Little Rock. O’Reilly Development Co. is developing the property, which will feature 96 independent living units, 44 assisted living units and 18 memory care units. O’Reilly is a real estate investment and development firm specializing in historic preservation, seniors housing, affordable housing, multifamily and student housing communities.
WEST MEMPHIS, Ark. — Senior Living Investment Brokerage (SLIB) has arranged the sale of West Memphis Health & Rehabilitation, a skilled nursing facility in West Memphis, just across the Mississippi River from Memphis, Tennessee. The property features 85 beds. An Arkansas-based regional owner-operator sold the community to another regional owner-operator looking to expand in the state. The price was not disclosed. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.
ARKANSAS — Newmark Knight Frank has brokered the sale of six skilled nursing facilities in Arkansas. The portfolio totals 868 beds. The average occupancy at the time of sale was 82 percent, and the average vintage was 1985. The buyer, seller, price and names of the facilities were not disclosed.
ARKANSAS — Monticello has provided $50 million in first lien debt financing for the acquisition of six skilled nursing facilities totaling 868 beds in Arkansas. The transaction also includes a $2 million working capital loan to the operating companies of the properties provided by Monticello’s asset-based lending group, Monticello Commercial Capital LLC. The borrower is an owner-operator with previous experience in Arkansas. The names and locations of the properties were not disclosed.
LITTLE ROCK, Arkansas — Resort Lifestyle Communities has opened Chenal Pines, a new retirement community in Little Rock. The community offers 128 independent living apartments in a mix of one-, two- and three-bedroom layouts. “Our research indicated there was a significant need for additional independent senior living communities in the Little Rock area,” says Phil Benjamson, COO of Resort Lifestyle Communities.
WINTER GARDEN, Fla., and LITTLE ROCK, Ark. — Architect and developer Cardinal Ventures and its affiliated management company, Blake Management Group, are set to break ground on three new communities in Florida and Arkansas.
NEWPORT, HOT SPRINGS and LITTLE ROCK, Ark. — Strawberry Fields REIT has acquired three skilled nursing facilities located in Arkansas for a total of $14.3 million.
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