Friday, April 26, 2024
Read the Magazine Subscribe

Kentucky

AcquisitionsAssisted LivingKentuckyNews

SLIB Brokers Sale of 119-Unit Forest Hills Commons in Louisville, Kentucky

by Jeff Shaw

LOUISVILLE, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Forest Hills Commons, a 119-unit assisted living and memory care community in Louisville. Built in 2019, Forest Hills is located 14 miles from downtown Louisville on 4.4 acres. The seller is a regional owner-operator exiting the state of Kentucky. The buyer is a Midwest-based owner-operator looking to add to its existing footprint throughout the Midwest. The price was not disclosed. Ryan Saul and Daniel Geraghty handled the transaction on behalf of SLIB. “The seller developed this asset …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentKentuckyNews

Woda Cooper, Housing Services Alliance Open $18.9M Sparrow Ridge Community in Hebron, Kentucky

by Jeff Shaw

HEBRON, Ky. — Woda Cooper Cos. and Housing Services Alliance have completed Sparrow Ridge, an affordable seniors housing community in Hebron, just across the Ohio River from Cincinnati. The 96 units are reserved for residents over age 55 who earn between 30 and 80 percent of the area median income (AMI). Development costs were estimated at $18.9 million. The affordable development was made possible in part by $1.5 million in Low-Income Housing Tax Credits (LIHTCs) allocated by Kentucky Housing Corporation (KHC). Affordable housing investor CREA LLC purchased the tax credits …

Continue Reading
0 FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentKentuckyNews

Fairstead Completes $4.5M Renovation Project at Colony Apartments in Covington, Kentucky

by Jeff Shaw

COVINGTON, Ky. — Fairstead has completed a $4.5 million overhaul of Colony Apartments, a 43-year-old affordable seniors housing community in Covington, located just across the Ohio river from Cincinnati. Residents of the 137-unit complex received home upgrades, including new kitchens, bathrooms, cabinetry, energy-efficient appliances and lighting, as well as lower monthly utility bills. Fairstead also partnered with local organizations to bolster on-site support services at the property. Financing for the rehabilitation of Colony Apartments came from the Kentucky Housing Corp., Capital One and Boston Financial. “Kentucky Housing Corp. was proud …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingKentuckyNews

SLIB Brokers Sale of 92-Unit Portfolio in Bowling Green, Kentucky

by Jeff Shaw

BOWLING GREEN, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sales of two seniors housing communities totaling 92 units in Bowling Green. The assets include the 61-unit Chandler Park Assisted Living and the 31-unit Chandler Memory Care. The properties are 2.5 miles from each other. The seller is a commercial real estate development company based out of Bowling Green. The buyer is a Midwest-based owner-operator looking to strategically add to its existing footprint throughout the Midwest. The price was not disclosed. Daniel Geraghty and Bradley Clousing handled the …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAlabamaConnecticutFinanceFloridaKentuckyMarylandNew YorkNews

JLL Arranges $145M in Acquisition Financing for 15-Community Portfolio Throughout the East

by Jeff Shaw

NEW YORK CITY — JLL Capital Markets has arranged $145 million in acquisition and capital improvement financing for two seniors housing portfolios. The first portfolio includes six properties throughout the Northeast, and the second comprises nine properties in the Southeast. JLL worked on behalf of the borrowers, Sculptor Real Estate and its operating partners, to secure two separate nonrecourse loans, one for each portfolio, through national banks. Each loan was fully underwritten without a syndication requirement. Additionally, JLL represented the undisclosed seller in the marketing and sale of the portfolios. …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsAssisted LivingKentuckyNews

SLIB Brokers Sale of Two Assisted Living Communities in Kentucky

by Jeff Shaw

BARDSTOWN and ELIZABETHTOWN, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Bluegrass Assisted Living, which comprises two assisted living communities 30 miles from each other in Bardstown and Elizabethtown. The communities offer a combined total of 84 units on three acres. A California-based owner-operator looking to exit seniors housing sold the assets for an undisclosed price. The assets are the first acquisitions for a newly formed operator based in the Southeast. The price was not disclosed. Daniel Geraghty and Bradley Clousing of SLIB handled the transaction …

Continue Reading
0 FacebookTwitterLinkedinEmail
DevelopmentKentuckyNews

Trilogy, DMK Development Break Ground 115-Unit Community in Owensboro, Kentucky

by Jeff Shaw

OWENSBORO, Ky. — Trilogy Management Services and DMK Development Group have broken ground on a 115-unit seniors housing community in Owensboro, located along the Ohio River in the western portion of the state. Located on 4.7 acres of land, the new community will feature 51 independent living, 44 assisted living, and 20 memory care unit in a mixture of studio, one- and two-bedroom apartments The project will represent a total community investment of $23 million and create over 200 construction jobs, as well as 60 to 70 permanent jobs once …

Continue Reading
0 FacebookTwitterLinkedinEmail
AcquisitionsKentuckyNewsSkilled NursingTennessee

Strawberry Fields REIT Acquires Six Nursing Facilities in Kentucky, Tennessee for $81M

by Jeff Shaw

SOUTH BEND, Ind.— Strawberry Fields, an owner and lessor of long-term acute care hospitals, skilled nursing and assisted living facilities in the Midwest and South, has acquired six skilled nursing facilities in Kentucky and Tennessee. The purchase price was $81 million and Strawberry Fields used the proceeds of a recently completed bond offering on the Tel Aviv Stock Exchange to finance the acquisition. The Kentucky facility will join the Landmark portfolio, which has operations throughout Kentucky, and in Texas, Oklahoma, Illinois, and Michigan. Each of The Waters-branded operators at the …

Continue Reading
0 FacebookTwitterLinkedinEmail
CaliforniaFinanceKentuckyNews

Capital Funding Group Arranges $40.4M Bridge Loan for Two-Property Skilled Nursing Acquisition

by Jeff Shaw

CALIFORNIA and KENTUCKY — Capital Funding Group has arranged $40.4 million in bridge-to-HUD financing for the acquisition of two skilled nursing facilities. The facilities, which are located in California and Kentucky, feature 270 beds. The borrower previously operated these facilities, and through this transaction was able to purchase the real estate. Patrick McGovern and Tommy Dillon originated the transaction for Capital Funding Group.

Continue Reading
0 FacebookTwitterLinkedinEmail
FinanceKentuckyNewsSouth CarolinaTennessee

Meridian Capital Group Arranges Financing for Eight-Property Senior Living Portfolio in the Southeast

by Jeff Shaw

NEW YORK CITY — Meridian Capital Group’s seniors housing and healthcare team has recapitalized and arranged financing for an eight-property senior living portfolio in South Carolina, Tennessee and Kentucky. Harrison Street entered into a joint venture with the developer, Dominion Senior Living, which will continue to operate the properties. The portfolio consists of eight facilities comprising 296 independent living units, 172 assisted living units and 79 memory care units for a total of 547 units. The names of the properties and total amount of the financing were not disclosed. Meridian’s …

Continue Reading
0 FacebookTwitterLinkedinEmail
Newer Posts
Older Posts