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AcquisitionsAssisted LivingIllinoisNews

Blueprint Brokers Sale of 136-Unit Community in Joliet, Illinois

by Jeff Shaw

JOLIET, Ill. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 136-unit assisted living and memory care community in the Chicago suburb of Joliet. The two-building campus features dedicated assisted living and memory care buildings that were built in 1999 and 2007, respectively. The seller made approximately $1.3 million of capital expenditure investments since 2016. The buyer was a local owner-operator. The seller and price were not disclosed. Giancarlo Riso, Lauren Nagle, Brooks Blackmon and Amy Sitzman led the Blueprint team.

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IllinoisMemory CareNewsPeople

Anthem Memory Care Appoints Laporsha Chavers as Executive Director for Community in Tinley Park, Illinois

by Jeff Shaw

TINLEY PARK, Ill. — Anthem Memory Care has promoted Laporsha Chavers to executive director for Porter Place in Tinley Park, approximately 25 miles southwest of Chicago.  Chavers previously was associate executive director for Porter Place. She also served as associate executive director for Grace Point Place, an Anthem community in nearby Oak Lawn. The certified dementia care practitioner brings over 18 years of senior living experience to this position. She earned a bachelor’s degree in business administration from Governors State University and an MBA from Purdue University.

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AcquisitionsColoradoIllinoisNews

Sunrise Senior Living Adds 13 Communities in Midwest, West

by Jeff Shaw

MCLEAN, Va. — Sunrise Senior Living, a McLean-based owner-operator, has added 13 senior living communities to its portfolio. The acquisitions came via two transactions. In the first, Sunrise became a joint-venture owner of two communities in the Chicago metro offering assisted living and memory care services. In the second transaction, Sunrise took over ownership of eight independent living communities in the greater Rocky Mountains area, and expects to take on three more management contracts in the coming weeks. The investment partners and names of the communities were not disclosed. Additionally, …

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Affordable HousingDevelopmentFinanceIllinoisNews

Berkadia Arranges $17.6M in Financing for Jesse Jackson Jr. Senior Housing in Harvey, Illinois

by Jeff Shaw

HARVEY, Ill. — Berkadia has arranged a $17.6 million Low-Income Housing Tax Credit (LIHTC) equity investment for the financing and preservation of Jesse Jackson Jr. Senior Housing, a 120-unit affordable housing property in Harvey, a suburb south of Chicago. The borrower is Preservation of Affordable Housing (POAH). Brian Blanchard and James Grande of Berkadia Affordable Housing led the transaction. Jesse Jackson Jr. Senior Housing consists of two three-story, elevator-serviced buildings that were originally constructed in 2007 (Phase II) and 2011 (Phase III). Units are reserved for seniors age 62 and …

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AcquisitionsIllinoisNews

SLIB Brokers Sale of 188-Unit Community Near Chicago

by Jeff Shaw

CHICAGO — Senior Living Investment Brokerage has arranged the sale of a 188-unit independent living, assisted living and memory care community in a southern submarket of Chicago. The seller was a Midwest-based institutional capital provider. The buyer was a Midwest-based owner-operator looking to strategically expand its existing footprint throughout the Midwest. Further details were not disclosed. Brad Clousing, Daniel Geraghty, and Ryan Saul led the transaction for SLIB.

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AcquisitionsIllinoisMemory CareNewsOperationsWisconsin

Anthem Memory Care Assumes Management of Communities in Illinois, Wisconsin

by Jeff Shaw

SAVOY, Ill., and FRANKLIN, Wis. — Anthem Memory Care has assumed management of two communities — Savoy Place in Savoy and Franklin Place in Franklin.  Under the agreement, Anthem Memory Care is managing all aspects of the communities’ operations and will add regional staff, technology and training programs to adapt the communities to its approach to care. The new properties bring Anthem’s portfolio up to 20 properties and marks the Oregon-based operator’s entry into Wisconsin. With existing communities in Arkansas, California, Colorado, Illinois, Kansas, Minnesota and Ohio, Anthem now manages …

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Assisted LivingFinanceIllinoisNews

Cambridge Provides $15.5M HUD Refinancing for The Pointe at Eastgate in Algonquin, Illinois

by Jeff Shaw

ALGONQUIN, Ill. — Cambridge Realty Capital Cos. has provided a $15.5 million HUD Lean loan to refinance The Pointe at Eastgate in Algonquin, approximately 45 miles northwest of Chicago.  The borrower is a limited liability company in Illinois. The community is an assisted living community that specializes in the transition between independent living and skilled nursing. The undisclosed number of units are all private. Brent Holman-Gomez led the financing for Cambridge. The loan features a fully amortizing, 35-year term.

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FinanceIllinoisNews

Greystone Monticello Arranges $16.7M Bridge Financing for Seniors Housing Acquisition in Illinois

by Jeff Shaw

ILLINOIS — Greystone Monticello has arranged a $16.7 million bridge loan for the acquisition of a seniors housing property in Illinois.  The property comprises independent living, assisted living and memory care units.  The bridge financing carries a two-year term with two six-month extensions. Karina Davydov originated the loan.

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CCRCDevelopmentIllinoisNews

Lifespace Completes $112M Expansion at Oak Trace in Downers Grove, Illinois

by Jeff Shaw

DOWNERS GROVE, Ill. — Lifespace has completed a $112 million expansion project at Oak Trace, a seniors housing community in Downers Grove, approximately 20 miles west of Chicago. The new building completed as the third and final phase of the project features 140 new luxury independent living apartments; a state-of-the-art fitness and aquatic center; a performing arts center; multiple restaurant-style dining venues; a salon and spa; and an upscale style coffee shop. The first phase of the renovation and expansion project, completed in 2019, was the creation of Oak Trace’s …

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AcquisitionsAssisted LivingIllinoisNews

Berkadia Arranges Sale of 45-Unit Community in Barrington, Illinois

by Jeff Shaw

BARRINGTON, Ill. — Berkadia has arranged the sale of a 45-unit assisted living and memory care community in Barrington, approximately 35 miles northwest of downtown Chicago.  The Berkadia team of Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders represented the seller, a publicly traded REIT. A regional owner-operator acquired the property for an undisclosed price. Further details were not disclosed.

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