Illinois

CRESTWOOD, Ill. — Greystone has provided a $13.7 million HUD-insured loan for the refinancing of The Pointe at Kilpatrick in Crestwood, about 24 miles southwest of Chicago. Built in 2003, the 122-bed supportive living facility features amenities such as a community room, living room, therapy room, barber shop, courtyard, children’s play area, private dining room and resident laundry rooms. Eric Rosenstock of Greystone originated the financing on behalf of the undisclosed borrower. The fixed-rate loan features a 35-year term.

0 FacebookTwitterLinkedinEmail

CHICAGO — MidCap Financial has provided a floating-rate refinancing for a Class A, 240-unit independent living community in the North Shore suburbs of Chicago. The borrowers are affiliates of Harrison Street and Banner Real Estate Group. The subject property has steadily leased up since opening in 2020 and benefits from its affiliation with CJE SeniorLife and physical quality, according to MidCap. Sarah Anderson of Newmark arranged the transaction.

0 FacebookTwitterLinkedinEmail

GLENVIEW, Ill. — Anthem Memory Care has named Fran DeJulius-Rybarski executive director for Emerald Place in Glenview. Rybarski previously was executive director of The Auberge at Orchard Park in Morton Grove, Illinois. She has also served as executive director for Green Oaks Senior Living in Libertyville, Illinois.

0 FacebookTwitterLinkedinEmail

CHICAGO — Woodlawn Central LLC is moving forward with the development of Woodlawn Central, an $895 million mixed-use project spanning eight acres in Chicago’s Woodlawn neighborhood. The development team recently hired Transwestern Real Estate Services as its commercial real estate services provider. Woodlawn Central is poised to transform the area into a walkable, transit-oriented district with easy access to civic amenities such as the Obama Presidential Center, Jackson Park, the Museum of Science and Industry and the University of Chicago. Woodlawn’s Apostolic Church of God conceived and planned the project. …

0 FacebookTwitterLinkedinEmail

OAK LAWN, Ill. — Anthem Memory Care has named Nick Katinos as executive director for Grace Point Place in Oak Lawn, southwest of Chicago. Katinos previously was executive director of Sunrise of Naperville North in Naperville. He also served as executive director for Brighton Gardens of Wheaton in Wheaton. He brings over seven years of senior living experience to this position. Katinos earned a bachelor’s degree in hospitality management from Johnson & Wales University in Providence, Rhode Island.

0 FacebookTwitterLinkedinEmail

ST. CHARLES, Ill. — Cushman & Wakefield has arranged the sale of River Glen of St. Charles, located within the former Delnor Hospital in St. Charles, which was built in 1939. Located approximately 35 miles west of Chicago, the community features 106 units of independent living, assisted living and memory care. The original hospital building has been converted into a modern, well-amenitized campus. Bridge Investment Group sold the asset to Citrine Senior Communities, a joint venture between affiliates of Citrine Investment Group and Jaybird Capital, for $20 million. Jaybird Senior …

0 FacebookTwitterLinkedinEmail

ILLINOIS — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 76-bed skilled nursing facility located approximately 80 miles west of Springfield, Illinois. The seller was a regional owner-operator looking to divest this asset from its portfolio to focus on core assets. The buyer was a regional owner and operator based on the East Coast looking to expand its presence in Illinois. The price and further details on the property were not disclosed.

0 FacebookTwitterLinkedinEmail

HOMEWOOD, Ill. — Preservation Equity Fund Advisors LLC (PEF Advisors) has acquired Freedom Village, an affordable seniors housing community in Homewood, approximately 20 miles south of downtown Chicago. Originally built in 1998 with tax credits from the Illinois Housing Development Authority, Freedom Village is a three-story building featuring 198 units in a mix of one- and two-bedroom floorplans. Apartments are reserved for seniors earning up to 60 percent of the area median income (AMI). Freedom Village was 98.5 percent occupied at the time of sale. The seller and price were …

0 FacebookTwitterLinkedinEmail

CHICAGO and SAN JOSE — Bellwether Enterprise Real Estate Capital LLC (BWE) has arranged two separate transactions totaling over $47 million to refinance two assisted living and memory care communities. The first is a $28.8 million loan to refinance an assisted living and memory care community in the Chicago metropolitan area on behalf of affiliates of a senior housing-focused private equity firm. The second is an $18.6 million loan to refinance an assisted living and memory care community in San Jose on behalf of affiliates of Westmont Living. Ryan Stoll …

0 FacebookTwitterLinkedinEmail

ROCKFORD, Ill. — Affordable Housing Investment Brokerage Inc. (AHIB) has arranged the sale of Valkommen Plaza, a 171-unit affordable seniors housing community in Rockford, approximately 90 miles northwest of Chicago and southwest of Milwaukee. A private investor sold the asset to Envolve Communities for $21.1 million. AHIB’s Kyle Shoemaker represented both both parties in the transaction. Valkommen Plaza is a nine-story, elevator-serviced building with commercial spaces on the first floor, providing amenities such as a beauty salon, police sub-station and grocery for the local community. In addition to the commercial …

0 FacebookTwitterLinkedinEmail