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AcquisitionsFloridaIndependent LivingMemory CareNews

JLL Arranges Sale of 45-Acre Campus in Wellington, Florida

by Hayden Spiess

WELLINGTON, Fla. — JLL Capital Markets has arranged the sale of Wellington Bay, a 45-acre senior living campus located in Wellington, roughly 55 miles northwest of Fort Lauderdale.  Totaling 283 units, the property features a 159-unit independent living community and The Lisbet Health Center, which comprises 124 assisted living and memory care residences. Amenities at the campus include a 65,000-square-foot clubhouse with dining, outdoor and indoor pools, a hot tub, putting green, bocce court, pickleball court and fitness, wellness, concierge, arts and entertainment programming.  AEW Capital Management acquired the property from …

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Company NewsFloridaNewsPeople

AgeWell Solvere Living Appoints Rich Gordon Chief Strategy Officer 

by Hayden Spiess

NORTH PALM BEACH, Fla. — Management company AgeWell Solvere Living has appointed Rich Gordon to the role of chief strategy officer (CSO).  Gordon has been with AgeWell for three years and has more than 20 years of experience in the seniors housing sector. As CSO, he will lead the company’s long-term strategic direction and business development efforts.  “We are thrilled to provide this advancement opportunity to Rich,” says Mark Lichtenwalner, CEO of AgeWell Solvere Living.  “Over the years, he has demonstrated exceptional strategic thinking, an ability to execute on complex initiatives and …

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Assisted LivingFinanceFloridaIndependent LivingMemory CareNews

Marathon Provides $154.5M Refinancing for Senior Living Portfolio in Florida

by Hayden Spiess

NEW YORK CITY — Marathon Asset Management has provided a $154.5 million mortgage loan for the refinancing of a senior living portfolio, The American House Florida Portfolio, located in Florida. A joint venture between Monarch Alternative Capital and REDICO is the borrower.  Totaling 817 units, the portfolio comprises six communities offering 40 independent living, 306 assisted living and 102 memory care residences. The communities were built between 2015 and 2018.  According to a press release issued by New York-based Marathon, each of the properties is located in a Florida market currently …

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AcquisitionsAssisted LivingFloridaIndependent LivingMemory CareNews

Titan Development Sells Three Seniors Housing Communities in Florida

by Hayden Spiess

THE VILLAGES and WINTER PARK, Fla. — Titan Development has sold a portfolio of three seniors housing communities located in The Villages and Winter Park.  The properties included in the portfolio — which totals 416 units — are Watercrest Buena Vista, Watercrest Spanish Springs and Watercrest Winter Park. JLL Capital Markets brokered the sale on behalf of Titan. AEW Capital Management acquired the portfolio for an undisclosed price.  Watercrest Buena Vista and Watercrest Spanish Springs are located in The Villages, a master-planned community roughly 45 miles northwest of Orlando. Built in 2018, …

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Assisted LivingFinanceFloridaIndependent LivingNews

BWE Secures $76M Refinancing for Senior Living Community in Naples, Florida

by Hayden Spiess

NAPLES, Fla. — BWE has secured a $76 million loan for the refinancing of The Carlisle Naples, a senior living community located in Naples. A joint venture between Harbert Management Co. (HMC) and Senior Resource Group (SRG) was the borrower.  Totaling 350 residences, the property features 257 independent living units and 93 assisted living units. SRG operates the community.  Ryan Stoll and Taylor Mokris of BWE arranged the non-recourse bridge financing — which features a five-year term, floating rate and full-term interest-only payments — on behalf of the borrower. 

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FloridaMinnesotaNews

John Rijos, Guy Geller to Assume New Leadership Roles at CPF Living Communities, Grace Management 

by Hayden Spiess

MAPLE GROVE, Minn. AND SARASOTA, Fla. — John Rijos and Guy Geller will assume new leadership roles with CPF Living Communities and Grace Management Inc. (GMI), effective Jan. 1, 2025. Geller will take on the title of CEO of both organizations, with Rijos serving as founder and chairman. Rijos founded CPF Living Communities, a subsidiary of Chicago Pacific Founders (CPF), in 2014 and is also managing partner of CPF’s Healthcare Real Estate Fund.  Geller first joined CPF Living Communities and GMI in 2016. He previously served as chief operating officer and …

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AcquisitionsFinanceFloridaMarylandNewsSkilled Nursing

CFG Provides $207.1M Bridge-to-HUD Loan for Skilled Nursing Portfolio in Florida

by Hayden Spiess

BALTIMORE — Capital Funding Group (CFG) has provided a $207.1 million bridge-to-HUD loan to 980Investments to support the partnership buyout of a portfolio of skilled nursing facilities in Florida. Together, the facilities total 1,423 beds across 13 properties. Additionally, Capital Finance LLC, a subsidiary of CFG Bank, provided $15 million in accounts receivable financing to support the working capital needs of the facilities.  Andrew Jones and Ava Julio of Baltimore-headquartered CFG originated the bridge-to-HUD loan, and Jeffrey Stein of Capital Finance originated the accounts receivable working capital line of credit. 

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FinanceFloridaNewsSkilled Nursing

MonticelloAM Provides $87M Bridge and Working Capital Financing for Skilled Nursing Portfolio in Florida

by Hayden Spiess

NEW YORK CITY — Multifamily and seniors housing bridge lending platform MONTICELLOAM LLC (MonticelloAM) has provided $87 million in bridge and working capital financing for a portfolio of skilled nursing facilities located in Florida.  Proceeds from the loan, which features a 24-month term and two six-month extensions, were used to refinance existing debt on the properties.   The portfolio comprises 450 skilled nursing beds across four properties. A $7 million working capital revolver will fund day-to-day operational expenses for the facilities. The borrower was not disclosed. 

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Company NewsFloridaNewsOperationsPeople

Kristin Ward Departs AgeWell Solvere Living, Launches Austera Group Consultancy

by Channing Hamilton

NORTH PALM BEACH, Fla. — Kristin Ward, co-CEO and co-founder of seniors housing management firm AgeWell Solvere Living, plans to depart the North Palm Beach-based company. Ward will serve in her current role through to the end of the year and continue to collaborate with AgeWell Solvere as a strategic advisor in the future. Upon her departure, Ward will launch a new consultancy dubbed Austera Group. Ward also previously served as president and CEO of Solutions Advisors Group. 

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