CHICAGO and SAN JOSE — Bellwether Enterprise Real Estate Capital LLC (BWE) has arranged two separate transactions totaling over $47 million to refinance two assisted living and memory care communities. The first is a $28.8 million loan to refinance an assisted living and memory care community in the Chicago metropolitan area on behalf of affiliates of a senior housing-focused private equity firm. The second is an $18.6 million loan to refinance an assisted living and memory care community in San Jose on behalf of affiliates of Westmont Living. Ryan Stoll …
SACRAMENTO — Lument has provided a $7.5 million Fannie Mae loan to refinance Carlton Senior Living, a 56-unit assisted living community in Sacramento. Built in 2008, Carlton Senior Living is located on the Carlton Senior Living Continuum of Care Campus, next to a 128-unit assisted living and memory care community that was refinanced in 2016, also with assistance from Lument. When it first opened, Carlton Senior Living was serving high-acuity assisted living residents. In 2021, the borrower altered its strategy and catered it services more toward traditional assisted living. The …
ESCONDIDO, Calif; SAN ANTONIO; and WINSTON-SALEM, N.C. — Cushman & Wakefield has arranged $51 million in financing for Kisco Senior Living. The loan refinances debt on three Kisco properties: Cypress Court in Escondido, Villa de San Antonio in San Antonio and Heritage Woods in Winston-Salem. The properties provide independent living and assisted living services. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Sam Dylag represented the borrower in the transaction. A national bank provided the capital.
LOS ANGELES — Blueprint Healthcare Real Estate Advisors has negotiated the sale of The Rehabilitation Center of Beverly Hills, a 150-bed skilled nursing facility in Los Angeles. The Rehabilitation Centre of Beverly Hills is a premier, state-of-the-art, all Medicare nursing facility located near Cedars-Sinai Medical Center, one of the most prestigious hospitals in the United States. A private, high-net-worth owner-operator based in Los Angeles was the buyer. The seller and price were not disclosed.
LOOMIS, Calif. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Senior Care Villa of Loomis. The facility consists of 26 units and was built in 2000. It totals approximately 15,000 square feet and on 2.5 acres of land in Loomis, 25 miles northeast of Sacramento. The seller was a family owner-operator seeking to retire. The buyer is a Southern California-based investment group looking to expand its portfolio within the state. The price was not disclosed. Jason Punzel, Brad Goodsell and Vince Viverito of SLIB handled the transaction. …
OCEANSIDE, Calif. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Merrill Gardens Oceanside. The 144-unit independent living, assisted living and memory care community is located in Oceanside, a coastal city between Los Angeles and San Diego. The community was built in 1999, totaling approximately 96,905 square feet on 4.4 acres of land. The seller was an East Coast-based private equity firm. The buyer is a Southern California-based investment group, with this being their first seniors housing acquisition. The price was not disclosed. Jason Punzel, Brad Goodsell and …
IRVINE, Calif. — Sabra Health Care REIT Inc. (NASDAQ: SBRA), an Irvine-based investor, plans to transition a 24-property portfolio previously leased to North American Health Care Inc. to two of Sabra’s existing tenants: The Ensign Group (NASDAQ: ENSG) and the Avamere Family of Companies. Ensign will add 20 properties located in California to two master leases with Ensign operating companies with initial terms of 18 and 20 years, each with an accompanying corporate guarantee from Ensign. The initial annual rent attributable to the 20 properties will be $29.4 million, with …
LOS ANGELES — South Bay Partners has completed construction of The Variel of Woodland Hills, a luxury independent living, assisted living and memory care community in the Woodland Hills neighborhood of Los Angeles. The property features 215 independent living units, 94 assisted living units and 27 memory care units. Momentum Senior Living is the operator. VTBS Architects designed the buildings, while Rodrigo Vargas Design handled the interiors. W.E. O’Neil Construction was the general contractor. The site is located near Warner Tennis Center, grocery stores and Kaiser Permanente Woodland Hills Medical …
IRVINE, Calif. —Asland Capital Partners, Fairstead, iimpact Capital, Nuveen Real Estate and Innovative Housing Opportunities (IHO) have acquired Woodbridge Manor, a 165-unit affordable housing community for seniors in Irvine. Woodbridge Manor apartments are available to seniors earning up to 60 percent of the area median income (AMI), or a maximum of $59,040 per year. The complex comprises a trio of three-story buildings that were built from 1981 to 2003, all of which underwent a major rehabilitation in 2006. The community was purpose built as affordable housing for residents at least …
ANAHEIM, Calif. — Evans Senior Investments (ESI) has arranged the sale of a 138-bed skilled nursing community in Anaheim for $25 million. A local owner-operator sold the asset to an East Coast-based real estate holding company, which will lease the property to a local operator. The purchase price equates to $181,159 per bed. At the time of marketing, the community was 96 percent occupied and making over $2 million per year in net operating income. The facility also holds a contract for over 50 therapeutic residential care beds. Matt Jassak …