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.
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.
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.
WELLINGTON, Fla. — JLL Capital Markets has brokered the sale of HarborChase Wellington Crossing, a 134-unit, Class A seniors housing community in Wellington, located about 15 miles southwest of West Palm Beach. A partnership between Scarp Ridge Capital Partners and Walton Street Capital acquired the community and selected Agewell Solvere Living as the operator. The buyer has also rebranded the property, which now operates under the name Alamar Senior Living. The name of the seller was not disclosed. Completed in late 2018, HarborChase Wellington Crossing consists of 76 assisted living units and 58 memory care units. …
NOKOMIS, Fla. — The Goldton at Venice — a seniors housing community located in Nokomis, roughly 20 miles south of Sarasota — recently sheltered 200 individuals during Hurricane Milton. Located in a non-flood zone approximately two miles from Sarasota Memorial Hospital, the community hosted staff, family members and loved ones of residents and evacuees from Venice Island and flood zones. Hurricane Milton made landfall Wednesday, Oct. 9, with most of the guests departing the community by the following Friday, Oct. 11. Totaling 167 apartments, The Goldton at Venice offers 114 independent …
ST. PETERSBURG, Fla — Ziegler has arranged $29.4 million in bond financing for Convivial St. Petersburg LLC, which plans to develop a continuing care retirement community (CCRC) on a 5.2-acre site in St. Petersburg. The Series 2024 Revenue Bond Anticipation Notes are comprised of $23.4 million of tax-exempt Series 2024A Notes sold publicly to institutional investors, and $6 million of subordinate tax-exempt and taxable notes purchased by an affiliate of the developer and manager of the project. The borrower will use the proceeds of the revenue bond anticipation notes to fund …
SARASOTA, FLA. — Aztec Group has arranged a $54.5 million bridge loan for Alloro at University Groves, a seniors housing community located in Sarasota. An affiliate of United Group of Cos. was the borrower. Mortgage REIT provided the debt. Developed in 2023, Alloro at University Groves features 183 units for residents aged 55 and older. Amenities at the community include a 12,587-square-foot clubhouse, fitness center, yoga room, salon, movie theater, pickleball and bocce courts, a spa, community garden, dog park and onsite dining facilities.
LAKE WORTH, Fla. — JLL Capital Markets has brokered the sale of Mariposa, a 313-unit seniors housing community in Lake Worth, located about 17 miles south of West Palm Beach and 20 miles north of Boca Raton. The real services firm also secured financing for the buyer. The seller and sales price were not disclosed, but the South Florida Business Journal reports that the facility sold for nearly $63.8 million. The seller was Ventas, the Chicago-based healthcare real estate investment trust. JLL represented the seller, and procured the buyer, Focus Healthcare Partners. Additionally, JLL …
PALM BEACH COUNTY, Fla. — Berkadia has arranged the sale of an 80-unit assisted living and memory care community in Palm Beach County. The community sold to a Central Florida-based owner-operator looking to expand its operational footprint into South Florida. The price was not disclosed. The community is located in a densely populated Palm Beach County submarket less than a half mile from over 750,000 square feet of retail space occupied by tenants including Walmart Neighborhood Market, Marshall’s, and Phoenix Theaters. Brooks Minford of Berkadia Seniors Housing & Healthcare led …
CENTRAL FLORIDA — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 60-unit assisted living community in Central Florida. A national real estate investment platform acquired the asset and brough in a regional operator to take over management. Further details on the transaction were not disclosed. Blueprint marketed the opportunity as part of a portfolio encompassing 16 senior communities located throughout the Southeast, Midwest and Mid-Atlantic. The subject community was positioned as a value-add offering, with a history of strong performance and significant upside potential, particularly due to …
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