KANSAS and OHIO — Monticello has provided $20 million in first lien debt financing for the acquisition of two skilled nursing facilities and the contribution of one unencumbered skilled nursing facility located in Kansas and Ohio. The borrower is an owner-operator with a current portfolio of 1,188 licensed. Prior to this deal, Monticello financed the acquisition of a number of facilities in 2020 for the borrower.
Kansas
OVERLAND PARK, Kan. — Village Shalom, a continuing care retirement community in the Kansas City suburb of Overland Park, has opened a four-story apartment building at the property. The 76-unit independent living building is part of a $42 million expansion project. The full project, which broke ground approximately two years ago, already added 48 memory care units, and 24 rehabilitation suites are currently under construction. In addition to the new independent living units, the completed building includes a first-floor amenity corridor named Main Street.
LAWRENCE, Kan. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 60-bed skilled nursing facility in Lawrence. The West Coast-based owner was looking to divest its only asset in Kansas. An owner-operator acquired the property for an undisclosed price.
WICHITA, Kan. — KeyBank Community Development Lending and Investment (CDLI) has provided an $11.3 million tax-exempt construction and permanent bond loan for the acquisition of Somerset Tower Plaza in Wichita. Steele Properties plans to renovate the 100-unit affordable seniors housing community. The city of Wichita issued the bonds, and the National Development Council provided $4.2 million of Low-Income Housing Tax Credit equity. Originally constructed in 1979, the seven-story Somerset Tower Plaza is located two miles from the Wichita Central Business District. The renovation will include exterior upgrades and life-safety improvements. …
MULVANE, Kan. — Boston Capital has invested in the development of Homestead Senior Residences Mulvane II, a 24-unit affordable seniors housing community in Mulvane, approximately 16 miles southwest of Wichita. The general partner is Homestead Affordable Housing. The property will be located adjacent to Homestead Senior Living Mulvane Phase I, a 40-unit development built in 2012. The amount of Boston Capital’s investment was not disclosed. LK Architecture LLC designed the community, which will be restricted to residents 62 or older earing up to 80 percent of the area median income …
KANSAS — Blueprint Healthcare Real Estate Advisors has brokered the sale of three skilled nursing facilities in Kansas totaling 250 beds. The properties were located in suburban and rural locations. The price and buyer were not disclosed. The transaction is the last of five that Blueprint arranged for LTC Properties as part of the REIT’s divestment of its 2,500-bed Preferred Care skilled nursing portfolio. The company sold the properties to five different buyers, with each buying all properties within a single state.
KANSAS — Monticello has provided $15.5 million in first lien debt financing for a portfolio of skilled nursing facilities in Kansas. The properties total 282 beds, and the transaction includes two acquisitions and two refinancings. The borrower is an owner-operator with a total portfolio of 945 licensed beds.
WICHITA, Kan. — KeyBank Community Development Lending and Investment (CDLI) has secured $10 million of construction and permanent financing for an affordable seniors housing property in Wichita. The borrower is Denver-based Steele Properties, which will use the funds to acquire and renovate Shadyway Plaza. The community was built in 1979 and features 100 one-bedroom apartments in a seven-story building. All units are reserved for seniors and disabled resident earning up to 60 percent of area median income. Monroe Group Ltd., Steele Properties’ sister company, will manage the property, which is …
ANDOVER, Kan. — Dwight Capital has provided a $14 million HUD refinancing for Victoria Falls, a 164-bed assisted living and skilled nursing facility in Andover. The assisted living building and skilled nursing building — built in 2004 and 2010, respectively — are situated on 7.2 acres. Together, the Victoria Falls buildings total 106,660 square feet. Clint Miller of Dwight Capital originated the transaction.
WICHITA, Kan., and OKLAHOMA CITY — Blueprint Healthcare Real Estate Advisors has arranged the sale of two assisted living communities located near Oklahoma City and Wichita. A publicly traded REIT and a national operator sold the properties to a family-owned operator based in Kansas. The prices, names and specific locations were not disclosed. With a combined 52 total units and 16,000 square feet, the primarily private pay communities were built in 1993/1994 and renovated in 2016. Both were over 90 percent occupied. Ben Firestone, Michael Segal and Alex Florea of …