HARTFORD, Conn. — Evans Senior Investments (ESI) has arranged the sale of a three-property senior living and skilled nursing portfolio located just outside of Hartford. The portfolio features 114 independent living units and 246 skilled nursing beds all within 10 miles of each other. Prior to the COVID-19 pandemic, the communities were 92 percent occupied and featured a strong post-acute rehab census mix within the skilled nursing communities. The buyer was an east coast owner-operator expanding its presence in the state. The seller and price were not disclosed.
Cushman & Wakefield Arranges Refinancing for The Residence at Summer Street in Stamford, Connecticut
STAMFORD, Conn. — Cushman & Wakefield has arranged the refinancing of The Residence at Summer Street, a newly developed assisted living community in Stamford. The borrowers are Virtus and LCB Senior Living LLC. The amount of the financing was not disclosed. Cushman & Wakefield’s Richard Swartz, Jay Wagner, Jim Dooley and Joseph Carbone represented the borrowers in the transaction. VIUM Capital and its affiliate Merchants Bank of Indiana provided the funds. LCB, a senior living operator and developer in New England and the Mid-Atlantic, completed the community in 2018 with …
BRANFORD, Conn. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Branford Hills Healthcare Center, a 190-bed skilled nursing facility with in-house pharmacy in Branford, a town on Long Island Sound. The Shelton Family has operated the community since its construction in 1980. Expanded in 1991, the facility sits on over 10 acres and benefits from its proximity to referral sources in New Haven County, specifically Yale-New Haven Hospital. Exhibiting historical occupancy in excess of 94 percent and revenues in excess of $20 million, the facility struggled amid …
WEST HARTFORD, Conn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Hamilton Heights Senior Living, a 113-unit independent living and memory care community in West Hartford. Formerly known as Mount St. Joseph Academy, a Roman Catholic boarding school for girls, the property was adapted into an independent living, assisted living and memory care community in 1997. The original academy was built in 1905 by well-known Hartford architect John J. Dwyer, and is currently on the National Register of Historic Places. Hamilton Heights is situated on a large …
HARTFORD, Conn. — M&T Realty Capital Corp. has closed $51.6 million in Fannie Mae Seniors Housing loans for the acquisition financing of a seniors housing portfolio located in the Hartford MSA. The borrowers are White Oak Healthcare REIT and Everbrook Senior Living. The 10-year, floating-rate loans are structured with three years of interest-only payments followed by a 30-year amortization. Matt Pipitone of M&T’s Baltimore office led the transaction. Further details on the properties were not disclosed.
GUILFORD, Conn. — Lument has provided an $18.9 million HUD refinancing for The Guilford House, a 96-bed assisted living and skilled nursing facility in Guilford, a coastal town 15 miles east of New Haven. The closing refinances a blended-rate loan from 2019 provided by Lument to fund an expansion of assisted living units and services. Aaron Becker, head of seniors housing and healthcare production for Lument, led the transaction. “This refinance marks the culmination of a successfully implemented plan that expanded the community’s scope of services and positions it for …
NEW YORK CITY — JLL Capital Markets has arranged $145 million in acquisition and capital improvement financing for two seniors housing portfolios. The first portfolio includes six properties throughout the Northeast, and the second comprises nine properties in the Southeast. JLL worked on behalf of the borrowers, Sculptor Real Estate and its operating partners, to secure two separate nonrecourse loans, one for each portfolio, through national banks. Each loan was fully underwritten without a syndication requirement. Additionally, JLL represented the undisclosed seller in the marketing and sale of the portfolios. …
STAMFORD, Conn. — EPOCH Senior Living and National Development has opened Waterstone on High Ridge, a seniors housing community in Stamford, approximately 25 miles northeast of New York City. The community features 88 independent living, 36 assisted living and 22 memory care units. Independent living units are currently 60 percent leased. All-inclusive monthly fees for independent living start at $8,950 per month for a one-bedroom, while assisted living starts at $10,500 and memory care at $8,750. EPOCH Senior Living operates 13 senior living communities in the Northeast with three under …
RIDGEFIELD, Conn. — New England-based Senior Living Residences (SLR) has acquired a former Atria Senior Living Community in Ridgefield, located along the New York State border approximately 50 miles northeast of Manhattan. SLR is rebranding the community, which opened in 2020, as Ridgefield Station Senior Living. The number of units and type of care were not disclosed. “While it has only been a short time since SLR took on management of the community, we have already made some integral changes,” says Tadd Clelland, SLR’s president and CEO. “We have significantly …
CHARLESTON, S.C. — Berkadia Seniors Housing & Healthcare has arranged $47 million in financing for five skilled nursing facilities across the country. Jay Healy secured the financing on behalf of multiple borrowers. In the first loan, Berkadia arranged the HUD refinancing of a 40-bed, Medicare-only skilled nursing facility in Sacramento. The $14.5 million, 48 percent loan-to-value financing retired the construction debt and covered transaction costs for the California-based client. The facility was constructed in June 2018, but did not receive its Medicare certification until August 2019. Occupancy at the time …