OWNINGS MILLS, Md. — Senior Lifestyle has unveiled renovation plans for Atrium Village, an independent living, assisted living and memory care community in the Baltimore suburb of Ownings Mills. The multi-million-dollar project is planned in phases, starting with exterior and façade improvements. Phase II will renovate the lobby, corridors, elevators and unit interiors. Atrium Village’s community spaces will also be updated, including its two restaurant-style dining venues and a multi-purpose room. An additional bistro-style dining venue is planned. The project is scheduled for completion in summer of 2021.
Maryland
OLNEY, Md. — Cadence Living and Flournoy Development Group have broken ground on Cadence Olney, a 107-unit seniors housing community in the Washington, D.C. suburb of Olney. The community is situated on 37 acres that includes 31 acres of forest preserve that will serve as a natural amenity for residents. The property will include a three-story building for independent living and assisted living and a two-story building for memory care.
Berkadia Provides $50M in HUD Financing for Skilled Nursing Facilities in Florida, California, Maryland
by Jeff Shaw
WASHINGTON, D.C. — Berkadia’s Seniors Housing & Healthcare Group has secured $50 million in loan closings for skilled nursing facilities in Florida, California and Maryland. Jay Healy and Senior Director Bianca Andujo secured a $22.2 million HUD refinancing for a 157-bed skilled nursing facility in Worchester County, Maryland. The loan represents an 80 percent loan-to-value ratio and carries a term of 35 years. Loan proceeds were used to pay off the existing debt. Healy and Andujo also secured an $11.8 million HUD loan for a California-based borrower. The loan, which …
BALTIMORE — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 126-bed assisted living and skilled nursing community in suburban Baltimore. Acts Retirement-Life Community sold the asset, as it did not fit the nonprofit owner-operator’s usual business model of continuing care retirement communities. An undisclosed buyer paid $20 million for the property.
Lutheran Social Ministries of Maryland Hires Anne Kempsell as Vice President of Sales, Marketing
by Jeff Shaw
WESTMINSTER, Md. — Lutheran Social Ministries of Maryland Inc. (LSMMD) has named Anne Kempsell as vice president of sales and marketing. LSMMD is a faith-based organization created in 2018 to serve as the parent organization of continuing care retirement communities (CCRCs) Carroll Lutheran Village in Westminster, Maryland, and The Lutheran Village at Miller’s Grant in Ellicott City, Maryland. Kempsell oversees, directs and manages LSMMD’s marketing and communications efforts. She oversees a team of six. For almost two decades Kempsell has worked in the senior living industry. She has served in …
BALTIMORE — Capital Funding Group (CFG) and CFG Bank are reinvesting some of the funds earned from facilitating Paycheck Protection Program (PPP) loans to provide meals to frontline healthcare workers at skilled nursing and assisted living facilities in Maryland. Rise Biscuits will provide lunch meals and dinner will be provided by both Maryland Blackwall Hitch locations and some of the Maryland Greene Turtle locations. Driven Private Transportation will deliver the meals to 53 skilled nursing and assisted living facilities in Baltimore and surrounding areas. “Nursing homes/assisted living facilities and their …
MARYLAND — Harborview Capital Partners, a commercial real estate finance, equity and advisory firm, has arranged an $81 million loan for a New Jersey-based seniors housing owner. A national lending partner provided the funds, which will refinance a portfolio of four skilled nursing facilities and one assisted-living facility in the state of Maryland. The borrower recently acquired the assets. The financing features a LIBOR-based fixed rate, four-year term, and a credit facility that allowed for a limited-recourse cash out over $20 million. Ephraim Kutner, Jonathan Kutner and Eli Kutner originated …
MARYLAND — Monticello has provided $66.6 million in first lien debt financing for the acquisition of three skilled nursing properties totaling 460 beds in Maryland. The transaction also includes a $5 million working capital loan to the facility operators, which Monticello’s asset-based lending group, Monticello Commercial Capital, provided. The borrower is an owner and operator with a current portfolio of 2,459 licensed beds. The names and locations of the facilities were not disclosed.
ANNAPOLIS, Md. — M&T Realty Capital Corp. has closed a $63 million Freddie Mac loan to refinance a 165-unit seniors housing property in Annapolis. The loan features a 70 percent loan-to-value ratio, 10-year term, fixed rate, five years of interest-only payments, and 30-year amortization. The borrower and name of property were not disclosed. Matthew Pipitone and Robert Kaplan of M&T Realty Capital’s Baltimore office, in collaboration Gretchen Wintringer, handled the transaction.
MARYLAND — Ziegler has closed $99.3 million in bond financing for Integrace Inc., a group of four continuing care retirement communities (CCRCs) in Maryland. The company officially affiliated with Acts Retirement-Life Communities in April 2019. Founded in 1974, Integrace is a nonprofit system of retirement communities consisting of Bayleigh Chase in Easton; Buckingham’s Choice in Adamstown; Fairhaven in Sykesville; and Copper Ridge in Sykesville. Integrace also operates a research institute, The Integrace Institute. The financing consists of $87.1 million in tax-exempt bonds and $12.2 million in taxable bonds. The tax-exempt …