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AcquisitionsCCRCMarylandNews

Continuum Advisors Arranges Sale of 313-Unit The Village at Augsburg in Baltimore

by Jeff Shaw

BALTIMORE — Continuum Advisors has arranged the sale of The Village at Augsburg, a 313-unit continuing care retirement community in Baltimore. The campus comprises 131 independent living apartments, 51 assisted living units and 131 licensed skilled nursing beds situated on approximately 50 acres.  Jay Jordan and Dave Kliewer of Continuum Advisors represented Maryland-based National Lutheran Corp. in the sale of Augsburg to New Jersey-based Outcome Healthcare. The price was not disclosed. “NaLonal Lutheran affiliated with The Village at Augsburg prior to COVID-19 and put forward significant investment into the campus …

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DevelopmentMarylandNews

Brightview Opens Welcome Center at 178-Unit Development in Cockeysville, Maryland

by Jeff Shaw

COCKEYSVILLE, Md. — Brightview Senior Living has opened the welcome center at Brightview Hunt Valley, a 178-unit seniors housing development in Cockeysville, approximately 15 miles north of Baltimore. Brightview Hunt Valley is currently under construction within the Hunt Valley Towne Center shopping center and will open in summer 2024. The community will offer independent living, assisted living and memory care services. As a privately owned company, Brightview Senior Living builds new communities through a combination of private investment funds and traditional bank loans. Brightview Hunt Valley is one of 13 …

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Assisted LivingDevelopmentMarylandMemory CareNews

ML Group Plans Renovations for 101-Unit The Terraces at Tuckerman Lane in North Bethesda, Maryland

by Jeff Shaw

NORTH BETHESDA, Md. — ML Group has spearheaded the design of planned renovations at The Terraces at Tuckerman Lane in North Bethesda, a suburb of Washington, D.C. Although a specific development price was not disclosed, the project was described as a “multi-million-dollar renovation.” The community was also recently rebranded and new leadership was hired, including senior executive director Laura Holden. “North Bethesda is one of Maryland’s most desirable neighborhoods, and our residents appreciate the blend of urban and suburban living with access to dynamic shopping, dining, entertainment and cultural experiences,” …

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Affordable HousingDevelopmentMarylandNews

Homes for America Completes 163-Unit Affordable Community in Oxon Hill, Maryland

by Jeff Shaw

OXON HILL, Md. — Homes for America, in collaboration with the Housing Authority of Prince George’s County and Foundation Development Group, has completed Homes at Oxon Hill, a 163-unit affordable seniors housing community in Oxon Hill, just south of Washington, D.C. The community is age restricted and residents must earn at or below 60 percent of the area median income. Homes at Oxon Hill is a five-story elevator building that includes a mix of one- and two-bedroom apartments. Financing for Homes at Oxon Hill comes from the Maryland Department of …

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AcquisitionsAssisted LivingMarylandNews

Blueprint Negotiates Sale of 65-Unit Woodlands Assisted Living Community in Middle River, Maryland

by Jeff Shaw

MIDDLE RIVER, Md. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Woodlands Assisted Living, a 65-unit assisted living and memory care community in Middle River, a northeastern suburb of Baltimore. A publicly traded REIT sold the asset to Inspirations Assisted Living and Memory Care for an undisclosed price. Built in 1999, the community featured a history of performance prior to the onset of the pandemic, with occupancies north of 90 percent and operating margins approaching 30 percent. Significantly impacted by the pandemic in 2020 and 2021, the …

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FinanceMarylandNewsNorth CarolinaSkilled NursingVirginia

CFG Arranges $207M Refinancing for 10-Property Skilled Nursing Portfolio

by Jeff Shaw

BALTIMORE — Baltimore-based Capital Funding Group (CFG) has arranged $207 million in financing to support the refinancing of 10 skilled nursing facilities. The facilities, which span Maryland, Virginia and North Carolina, total over 1,200 beds. The borrowers are affiliates of The Portopiccolo Group. The transaction represents the largest deal closed by CFG this year to date. The financing also allowed for an equity recapture at closing, a transition to third-party tenants for eight of the 10 facilities as part of the closing and an earn-out structure to provide access to …

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DevelopmentMarylandNews

Park Avenue Lifestyle to Develop $70M Seniors Housing Project at James Run in Metro Baltimore

by Jeff Shaw

BEL AIR, Md. — Park Avenue Lifestyle has purchased a site within James Run, a mixed-use development underway in the Baltimore suburb of Bel Air, from master developer JEN Partners, a real estate private equity fund based in New York. The Orlando-based buyer plans to develop a $70 million seniors housing community on the site that will feature independent living, assisted living and memory care units, as well as a fitness center, outdoor courtyards, walking paths and an in-house restaurant and pub. At full build-out, which is anticipated for 2025, …

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CCRCMarylandNewsPeople

Erickson Names Don Grove as Executive Director of Charlestown in Catonsville, Maryland

by Jeff Shaw

CATONSVILLE, Md.— Erickson Senior Living has named Don Grove as the new executive director at Charlestown, a continuing care retirement community in the Baltimore suburb of Catonsville. Grove joined the Charlestown team in 2007 as director of sales and marketing, a position he held for 14 years. In 2021, Grove transitioned to the role of associate executive director and most recently took on the role of interim executive director. Prior to joining Charlestown, Grove worked with the Baltimore Orioles as senior director of sales and ticketing. He holds a bachelor’s …

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Affordable HousingFinanceMarylandNewsTennessee

Bellwether Arranges $24.9M Refinancing for Three Affordable Communities in Tennessee, Maryland

by Jeff Shaw

NASHVILLE, Tenn., and BALTIMORE and PIKESVILLE, Md. — Bellwether Enterprise Real Estate Capital LLC (BWE) has arranged three loan deals totaling nearly $25 million to refinance and preserve three affordable senior living communities in Nashville, Baltimore and Pikesville. Jon Killough and John Roberts originated the Nashville deal and Victor Agusta originated the Maryland loans. Bellwether arranged a $21 million bridge loan for Nashville Christian Towers. The loan will allow Envolve Communities to acquire and finance the 175-unit affordable seniors housing development. Envolve plans to redevelop the property utilizing proceeds from …

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AcquisitionsMarylandMemory CareNevadaNews

Blueprint Brokers $37.5M Sale of Two Memory Care Communities in Nevada, Maryland

by Jeff Shaw

FREDERICK, Md., and SUMMERLIN, Nev. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of two newly constructed memory care communities. Located in Frederick and Summerlin, Silver Cos. developed the Class A communities with 60 units each, then leased them to Silverado. National Health Investors, a publicly traded REIT, acquired the properties for $37.5 million, representing $312,500 per unit and a yield of 7.5 percent. Silverado will stay on as operator.

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