ROCHESTER, N.Y. — Lument has provided a $58.2 million Freddie Mac loan for the refinancing of a seniors housing campus located in Rochester in Upstate New York. Wegman Cos. is the borrower. Tyler Armstrong, Chris Cain and Taylor Russ of Lument arranged the financing. Totaling 332 units, the campus features The Village at Unity and The Hamlet and offers independent living, assisted living and memory care. The Village at Unity comprises 272 independent living units, and The Village at Hamlet comprises 40 assisted living and 20 memory care units. Originally built …
NEW CITY, N.Y. and TOWNSHIP OF WASHINGTON, N.J. — Bain Capital Real Estate and Capitol Seniors Housing have received a $48 million loan for the refinancing of two seniors housing communities. The communities include The Chelsea at New City in New City, New York, and The Chelsea at Washington Township in the Township of Washington, New Jersey. JLL Capital Markets secured the three-year, floating-rate loan through a large regional bank on behalf of Bain and Capitol Seniors Housing. Built in 2021, The Chelsea at New City totals 80 assisted living, memory …
LOCKPORT, N.Y. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Briarwood Manor, a 113-unit, 160-bed assisted living and memory care community located in Lockport, roughly 30 miles northeast of Buffalo. Originally opened in 1982, the property was 44 percent occupied at the time of marketing. The memory care wing was added in 2017. A private owner exiting the seniors housing market was the seller. A private real estate investor acquired the community for an undisclosed price. Dave Balow, Dan Geraghty and Ryan Saul of SLIB brokered the transaction …
WHEATON, Ill. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a skilled nursing facility located in upstate New York. Originally opened in 1977, the facility totals 80 beds. The seller is a county governmental owner exiting the seniors housing sector. A private skilled nursing owner and operator acquired the property for an undisclosed price. Ryan Saul and Dave Balow of Illinois-based SLIB brokered the transaction on behalf of the seller.
ATLANTA and NEW YORK CITY — Town Lane and Kelly Sheehy will launch a new seniors housing platform targeting value-add and opportunistic senior living acquisitions across the country. Dubbed Arcole, the platform will be led by managing partner Sheehy and based in Atlanta. Arcole will operate in partnership with New York City-based Town Lane. Sheehy, who previously served as senior managing director and co-portfolio manager of Artemis Real Estate Partners’ healthcare fund platform, brings more than 20 years of seniors housing experience to the new venture. “Arcole, in partnership with Town …
MAMARONECK, N.Y. — Kiser Group has brokered the sale of Sarah Neuman Skilled Nursing Facility in Mamaroneck, roughly 30 miles northeast of New York City. The property totals 250 beds. Mark Myers of Kiser Group arranged the sale. The seller was a religious nonprofit organization. According to Kiser Group, the property was initially under contract for $84 million, but the first buyer had to withdraw from the transaction due to rising interest rates. A second seller presented an offer of $72 million. Ultimately, Myers secured a third buyer and negotiated the …
NEW YORK CITY — Inspiren, an AI-focused senior living technology company, has raised $100 million in Series B funding. Software investor Insight Partners led the financing, with participation from Avenir, Primary Venture Partners, Scale Venture Partners, Story Ventures and Studio VC. This new Series B funding brings Inspiren’s total funding to $155 million. In March, the company launched an AI-powered platform combining solutions for resident safety, care planning, staffing and emergency response. Inspiren also recently implemented improvements to its Inspiren HQ web-based platform, which allows seniors housing communities to monitor health …
NEW YORK CITY — Multifamily and seniors housing bridge lending platform MonticelloAM has appointed Liam Sorensen to the role of senior relationship manager. In his new role, Sorensen will be responsible for fostering and expanding client relationships, sourcing new opportunities and supporting the firm’s lending and investment activity across the seniors housing market. He will report to Karina Davydov, senior managing director, Healthcare. Sorensen’s experience includes almost a decade in healthcare real estate finance and a track record of debt structuring, underwriting, portfolio management and client advisory services. Prior to joining …
NEW YORK CITY — A joint venture partnership between Foxy Development and Selfhelp Realty Group has begun construction on a new intergenerational affordable housing development located in Queens in New York City. Dubbed The Perennial, the property will comprise145 units and will also house the Forest Hills Jewish Center. Upon completion, which is scheduled for the end of 2027, the 156,133-square-foot development will feature 124 units of seniors housing, including 44 units for formerly unhoused seniors, as well as 20 family units. All residences will be reserved for households earning at …
PORT WASHINGTON, N.Y. — Focus Healthcare Partners is currently underway on a $28 million renovation project at an independent living property in Port Washington. Focus Healthcare recently acquired the community, which is being rebranded as The Sinclair at Port Washington. Previously, the community was operated as The Harborside. The property’s new name pays homage to author Sinclair Lewis, who lives in Port Washington during the early 1900s. Planned upgrades include a new wellness center, apartment renovations, refreshes to interior common spaces, a new culinary program, a movie theater, expanded outdoor recreation …
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