LOUISVILLE, Ky. — Knoxville-based senior living brand Dominion Senior Living has hired Shauna Darbyshire as director of its seniors housing campus in Louisville. Darbyshire will supervise Dominion of Louisville and Everlan of Louisville, a campus of senior living services that provide every level of care from independent living for 55+ (Everlan) to assisted living, memory care and personal care (Dominion), totaling 117 units. Darbyshire formerly worked for Blake Management Group. As campus director, she will direct strategic growth initiatives, daily operations and the development and strengthening of community relationships. Beginning …
Kentucky
MT. STERLING, Ky. — Senior Living Investment Brokerage has arranged the sale of Sterling Meadows, a 30-unit assisted living community in Mt. Sterling, approximately 35 miles east of Lexington. Built in 2014, the 66,000-square-foot property was 80 percent occupied at the time of sale. It also offers an opportunity for a memory care expansion. A Lexington-based developer looking to exit seniors housing sold the asset to a Southeast-based owner-operator for $2.9 million. This is the buyer’s first community in Kentucky. Bradley Clousing and Daniel Geraghty of Senior Living Investment Brokerage …
Trilogy Health Services Hires Kathy Franke as Executive Director of Cooper Trail Senior Living in Kentucky
by Jeff Shaw
BARDSTOWN, Ky. — Trilogy Health Services has hired Kathy Franke as executive director of Cooper Trail Senior Living in Bardstown, about 40 miles southeast of Louisville. Franke was born and raised in Bardstown with over 30 years of experience in senior care.
PIKEVILLE, Ky. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 120-bed skilled nursing facility in Pikeville, located along the Big Sandy River in the eastern portion of the state. The property was built in 1979 and renovated in 1987. The rooms are mostly semi-private. The REIT owner elected to sell the property as the existing operator sought to exit. The seller acquired the asset through a sale-leaseback in fourth-quarter 2019, all part of a larger portfolio. A local operator acquired the facility for an undisclosed price.
MANCHESTER, Ky. — Walker & Dunlop has arranged $10.7 million in financing for Landmark of Laurel Creek, a 106-bed skilled nursing facility in Manchester, approximately 90 miles southeast of Lexington. The loan was made through HUD’s LEAN 232/233(f), which refinances debt on skilled nursing facilities. Joshua Rosen led the Walker & Dunlop origination team.
DANVILLE, Ky. — Strawberry Fields REIT LLC has acquired Charleston Health Care Center, a skilled nursing facility in Danville, approximately 35 miles southwest of Lexington. The REIT paid $5.4 million for the community, which features 90 skilled nursing beds, 16 assisted living beds and an independent living cottage. The seller was not disclosed. “The plan is to rebrand the property Landmark of Danville, and include it in the Landmark group of homes that are operated by A&M Healthcare,” says Moishe Gubin, CEO of Strawberry Fields. “A&M already has other facilities …
Monticello Provides $2.5M in Financing for 312-Bed Skilled Nursing Facility Portfolio in Kentucky, North Carolina
by Jeff Shaw
KENTUCKY and NORTH CAROLINA — Monticello has provided a $2.5 million working capital loan to the operating companies of three skilled nursing facilities totaling 312 beds in Kentucky and North Carolina. Monticello’s asset-based lending group, Monticello Commercial Capital, provided the funds. The borrower is an experienced owner and operator with a current portfolio of 8,752 licensed beds. Prior to this deal, Monticello financed the acquisition of several facilities in 2018 and 2019 for the company.
Monticello Provides $30M Financing for 312-Bed Skilled Nursing Portfolio in Kentucky, North Carolina
by Jeff Shaw
KENTUCKY and NORTH CAROLINA — Monticello has provided $30 million in first lien debt financing for the acquisition of one skilled nursing facility and refinancing of two others. The portfolio totals 312 beds in Kentucky and North Carolina. The borrower is an experienced owner and operator with a current portfolio of 8,752 licensed beds. Prior to this deal, Monticello financed the acquisition of a number of facilities in 2018 and 2019 for the sponsor.
CHICAGO — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm, has arranged the sale of a skilled nursing portfolio totaling over 400 units. Three of the facilities are located in Central Florida, and the fourth is in Kentucky. The properties were operating at a loss despite occupancy over 80 percent and combined revenues of over $28.5 million. A REIT sold the properties to an undisclosed buyer for an undisclosed price.
Bellwether Enterprise Provides $36.3M Refinancing for Legacy Reserve at Fritz Farm in Kentucky
by Jeff Shaw
LEXINGTON, Ky. — Bellwether Enterprise Real Estate Capital LLC has provided a $36.3 million permanent loan through Fannie Mae’s seniors housing program for the refinance of Legacy Reserve at Fritz Farm. The community opened in Lexington in summer 2017, featuring 144 independent living, 33 assisted living and 15 memory care units. The borrower is owner-operator Atlas Senior Living. John Powell of Bellwether’s Chicago office arranged the 12-year, fixed-rate loan on behalf of Atlas.