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AcquisitionsColoradoNews

Marcus & Millichap Brokers $8.3M Sale of The Homestead at Lakewood in Colorado

by Jeff Shaw

LAKEWOOD, COLO. — Marcus & Millichap has arranged the sale of The Homestead at Lakewood, a seniors housing property in Lakewood. An undisclosed buyer acquired the property for $8.3 million. Greg Parker and Greg Price of Marcus & Millichap’s Denver office represented the seller, a private investor, in the deal. Phillip Gause of Marcus & Millichap Capital Corp. arranged acquisition financing for the buyer. Constructed in 1999 under the Low-Income Housing Tax Credit program, The Homestead at Lakewood features 58 units in a mix of studio, one- and two-bedroom units …

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Assisted LivingColoradoFinanceNews

HJ Sims Partners Arranges $3.8M in Retroactive PACE Financing for StoneCreek Real Estate Partners

by Jeff Shaw

DENVER — HJ Sims has arranged $3.8 million in Retroactive Property Assessed Clean Energy (PACE) financing for StoneCreek Real Estate Partners, a Dallas-based developer. StoneCreek develops and owns seniors housing communities in Texas, Colorado and Arizona, with Civitas Senior Living as the operator. The StoneCreek Littleton development is a 92-unit senior housing community with 70 assisted living units and 22 memory care units. The community opened in January of 2020 and provides local access to quality senior housing and care in the Littleton area of Denver. With occupancy and operational …

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ColoradoNewsSkilled Nursing

The Ensign Group Acquires Three Skilled Nursing Facilities in Colorado

by Jeff Shaw

DENVER, BERTHOUD and BOULDER, Colo. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of three skilled nursing facilities in Colorado: Boulder Canyon Health and Rehabilitation, a 140-bed skilled nursing facility located in Boulder. Berthoud Care and Rehabilitation, a 76-bed skilled nursing facility located in Berthoud. South Valley Post-Acute Rehabilitation, a 106-bed skilled nursing facility located in Denver. These acquisitions are subject to a long-term, triple-net lease. The seller and price were not disclosed. This transaction brings Ensign’s portfolio to 235 healthcare operations, 22 of which also include …

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ColoradoDevelopmentNews

Ryan Cos., Cadence Plan 156,622 SF Acoya Cherry Creek in Denver

by Jeff Shaw

DENVER — Ryan Cos. US Inc. and Cadence Living have unveiled plans for Acoya Cherry Creek, a seniors housing community in the Cherry Creek neighborhood of Denver. Totaling 156,622 square feet and 137 units, the project will be the first Acoya-branded community in the Denver market and the third in Colorado. The types of care were not disclosed. According to Moore Diversified Services, the senior population in the Denver area is expected to increase by more than 26 percent over the next five years. “Not only is there a need …

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ColoradoDevelopmentNews

Solterra Breaks Ground on $38M Bridgewater Living in Castle Rock, Colorado

by Jeff Shaw

CASTLE ROCK, Colo. — Solterra Cos. has broken ground on Bridgewater Living, a 142-unit seniors housing community in Castle Rock, approximately 30 miles south of Denver. The property is located on a 6.6-acre site. Although the type of care was not disclosed, Solterra describes the development as a “health and wellness campus for those looking to live a longer and healthier life.” Development costs were estimated at $38 million. Funding was in partnership with the Douglas County Housing Authority and Multi-Family Housing Revenue Bonds. The community is scheduled to open …

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ColoradoFinanceNews

PGIM Real Estate Arranges $60M Freddie Mac Loan for Lincoln Meadows Senior Living in Parker, Colorado

by Jeff Shaw

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 and operates the property. The floating-rate loan has a 10-year term, with five years of interest-only payments and a 30-year amortization. Located 20 miles south of Denver, Lincoln Meadows features 130 independent living units, 60 assisted living units and 18 memory care units.

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Assisted LivingColoradoNewsPeople

Sunshine Retirement Names Kimberly Boughton Executive Director of Community in Aurora, Colorado

by Jeff Shaw

AURORA, Colo. — Sunshine Retirement Living has named Kimberly Boughton as executive director of Belleview Heights Assisted Living and Memory Care in Aurora. With more than 12 years of experience in the senior living and care industry, Broughton will be responsible for all day-to-day management, including leading the community’s health, safety, and infection prevention programs. Before starting her career in senior care, Broughton worked as an insurance broker. In 2008, she served as a marketing director for a home care company, where she was then promoted to director of operations. …

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CCRCColoradoFinanceNews

Truist Provides $50M Refinancing for Frasier CCRC in Boulder, Colorado

by Jeff Shaw

BOULDER, Colo. — Truist has provided a $50 million refinancing for Frasier, a continuing care retirement community (CCRC) in Boulder. The 20-acre campus is home to more than 350 residents, and is currently planning an expansion project, according to the community website. The refinancing “will provide significant cash flow savings to allow Frasier to create additional liquidity and flexibility,” according to Truist. Approximately $11 million of the transaction is a “Cinderella refunding,” where a prior issuance can be refunded and automatically convert its taxable debt to non-taxable debt in the …

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AcquisitionsAssisted LivingColoradoNews

Blueprint Negotiates Sale of Two Assisted Living Campuses in Denver

by Jeff Shaw

DENVER — Blueprint Healthcare Real Estate Advisors has arranged the sale of two seniors housing campuses in Denver. Featuring a total of 188 units of assisted living and memory care, the two properties were constructed in the 1990s. A state-sponsored retirement pension fund sold the communities to an Arizona-based owner-operator for an undisclosed price.

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AcquisitionsAssisted LivingColoradoFinanceNews

CBRE Arranges $14.4M Acquisition Financing for Two Communities in Metro Denver

by Jeff Shaw

AURORA and LAKEWOOD, Colo. — CBRE has arranged $14.4 million in financing for the acquisition of a seniors housing portfolio in Colorado. The borrower is a joint venture between Cadence Living and a private equity firm. The two communities, located in the Denver suburbs of Aurora and Lakewood, total 152 assisted living units and 35 memory care units. The joint venture plans to deploy $4 million for improvements to the two communities, the names of which were not disclosed. Aron Will, Austin Sacco and Matthew Kuronen of CBRE National Senior …

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