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AcquisitionsAssisted LivingMississippiNews

SLIB Arranges Sale of 68-Unit Avonlea Assisted Living in Tupelo, Mississippi

by Jeff Shaw

TUPELO, Miss. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Avonlea Assisted Living, a 68-unit property in Tupelo. The community was built in 1999 and renovated in 2005. The seller is a publicly traded REIT. The buyer is a regional owner-operator based in Mississippi, that intends to renovate the asset and make significant upgrades to improve occupancy, revenue and overall bottom-line performance. The price was not disclosed. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.

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Affordable HousingFinanceMississippiNewsNorth CarolinaTexasVirginia

BWE Arranges Over $65M in Financing to Renovate, Preserve Affordable Communities Across the South

by Jeff Shaw

ASHEVILLE, N.C.; STARKVILLE, Miss.; CHESAPEAKE, Va.; and HOUSTON and BUDA, Texas — BWE has closed five loan deals totaling over $65 million to refinance and renovate affordable housing properties in North Carolina, Virginia, Mississippi and Texas. Jon Killough and John Roberts originated the loans on behalf of multiple borrowers. The loans include:

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Affordable HousingDevelopmentMississippiNews

Hunt Capital, Intervest to Convert Former Dairy Plant in Tupelo Into 33-Unit Affordable Community

by Jeff Shaw

TUPELO, Miss. — Hunt Capital Partners and Intervest Corp. are converting the former Carnation Milk factory in Tupelo into Carnation Village, a 33-unit seniors housing community. Two units will be rented at the market rate while the other 31 apartments will be restricted to seniors age 55 and older earning between 30 and 60 percent of the area median income. The Carnation Milk plant opened in 1927 and was operational through 1972. Since then, the factory has been used as a police department and jail, city offices and the Oren …

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AcquisitionsArkansasFinanceMississippiNews

VIUM Funds $74.5M Bridge Loan for Skilled Nursing Portfolio in the Southeast

by Jeff Shaw

ARKANSAS and MISSISSIPPI — VIUM Capital has provided $74.5 million in bridge-to-HUD financing for the acquisition of 11 skilled nursing facilities. One of the assets is located in Mississippi and the rest are in Arkansas. Three different sellers sold the properties to an undisclosed buyer. Further information on the buyer, seller and portfolio was not disclosed.

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AcquisitionsMississippiNewsSkilled Nursing

Blueprint Negotiates Sale of 340-Bed Skilled Nursing Portfolio in Mississippi

by Jeff Shaw

MISSISSIPPI — Blueprint Healthcare Real Estate Advisors has brokered the sale of a three-property, 340-bed skilled nursing portfolio located throughout Mississippi. The seller was New York-based investment firm seeking to divest the properties following the operator filing for bankruptcy. The buyer was DAC Acquisitions, which recently acquired Diversicare, a Tennessee-based regional operator. The price and locations were not disclosed. Overall census had declined throughout the ongoing pandemic and leveled out in late 2021 around 70 percent, but the facilities continued to generate positive EBITDAR, according to Blueprint.

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AcquisitionsLouisianaMississippiNewsSouth Carolina

ESI Arranges Sale of 10-Property Senior Living Portfolio in the Southeast for $145M

by Jeff Shaw

CHICAGO — Evans Senior Investments (ESI), a Chicago-based brokerage, has arranged the sale of 10 seniors housing communities in Louisiana, Mississippi and South Carolina for $145 million. Schonberg Care, a regional owner-operator, sold the assets to White Oak Healthcare, which will install Discovery Senior Living as the operator. The REIT buyer also assumed a recently refinanced Fannie Mae loan on the portfolio. The communities consist of 590 seniors housing units and 666 functional beds (117 independent living units, 293 assisted living units, and 180 memory care units). The communities were …

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MississippiNewsPeopleSouth Carolina

Claiborne Senior Living Hires Two New Executive Directors for Communities in Southeast

by Jeff Shaw

SUMMERVILLE, S.C., and MCCOMB, Miss. ­— Claiborne Senior Living has hired Candy Cure as the executive director of The Claiborne at Brickyard Crossing, a new 142-unit seniors housing community set to open in mid-2022 in Summerville. Cure comes to Claiborne from a stint as senior executive director at Harmony Senior Services in Charleston. Joining Cure at Brickyard as community relations director is Teresa Hamlett. Hamlett previously served as director of sales and marketing at two other communities in the greater Charleston area. Meanwhile, Randall Wilson has assumed the role of …

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AcquisitionsMississippiNewsSouth CarolinaWisconsin

Walker & Dunlop Negotiates Sales of Three Communities in Midwest, Southeast

by Jeff Shaw

MEQUON, Wis., OXFORD, Miss., and SUMMERVILLE, S.C. — Walker & Dunlop has brokered the sales of three seniors housing communities located in the Midwest and Southeast. In the first transaction, Walker & Dunlop brokered the sale of Wright House Senior Living, a 110-unit independent living, assisted living and memory care community in Mequon. The lead broker was Alex Vice. In the second transaction, Walker & Dunlop brokered the sale of The Blake at Oxford, a 100-unit assisted living and memory care community in Oxford. The buyer was Chicago Pacific Founders, …

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AcquisitionsAssisted LivingMississippiNews

Chicago Pacific Founders Acquires The Magnolia at Oxford Commons in Oxford, Mississippi

by Jeff Shaw

OXFORD, Miss. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management Inc., have acquired The Magnolia at Oxford Commons, a 100-unit senior living community in Oxford. The community was previously known as The Blake at Oxford. The name change reflects the change in ownership. Grace Management will take over operations, offering assisted living and memory care services. The Magnolia at Oxford Commons is located in the new Oxford Commons neighborhood, near shopping, restaurants, medical facilities, The Square and The University of Mississippi. The new owner …

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MississippiNewsOperationsPeople

Blake Management Group Promotes Morgan Walter to Area Director of Operations in Mississippi

by Jeff Shaw

JACKSON, Miss. — Blake Management Group (BMG), a Jackson-based operator, has promoted Morgan Walter to area director of operations in Mississippi. Walter was formerly the executive director at The Blake at Oxford, one of the company’s communities. In her new position she will supervise and oversee operations across all four Blake locations in the state: The Blake at Oxford, The Blake at Flowood, The Blake at Township and The Claiborne at Adelaide. Walter will direct the four Mississippi Blake locations in strategic growth initiatives, daily operations and the development and …

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