North Carolina

Crescent Communities to Break Ground on First Phase of River District Master-Planned Development in Charlotte

by Jeff Shaw March 29, 2023

CHARLOTTE, N.C. — Crescent Communities plans to break ground Wednesday on The River District, a master-planned community on Charlotte’s west side. The development will span 1,400 acres between the Catawba River and Charlotte Douglas International Airport, including 500 acres of preserved land. Upon completion, The River District will feature 5,000 residences (single-family homes and apartments), 8 million square feet of commercial space, hotels and seniors housing apartments. Crescent expects the development to generate more than $5.6 billion of gross annual economic impact for the region and state. “The River District’s …

March 29, 2023

Acquisitions News North Carolina Skilled Nursing

Blueprint Negotiates Sale of Kenansville Health and Rehab in North Carolina

by Jeff Shaw March 16, 2023

KENANSVILLE, N.C. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Kenansville Health and Rehab, a skilled nursing facility in Kenansville. The 92-bed skilled nursing facility is located 75 miles southeast of Raleigh and was built in 1975 adjacent to ECU Health Duplin Hospital. With no direct local competition, the facility consistently maintained stable census and quality mix levels. The seller was an ownership group led by a Georgia-based entrepreneur. The operator had recently announced its plan to exit the industry. The buyer was an investor seeking growth …

March 16, 2023

California Finance News North Carolina Texas

Cushman & Wakefield Arranges $51M Refinancing of Three-Property Kisco Portfolio

by Jeff Shaw January 23, 2023

ESCONDIDO, Calif; SAN ANTONIO; and WINSTON-SALEM, N.C. — Cushman & Wakefield has arranged $51 million in financing for Kisco Senior Living. The loan refinances debt on three Kisco properties: Cypress Court in Escondido, Villa de San Antonio in San Antonio and Heritage Woods in Winston-Salem. The properties provide independent living and assisted living services. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Sam Dylag represented the borrower in the transaction. A national bank provided the capital.

January 23, 2023

Assisted Living Investment News North Carolina

LTC Invests $128M in 12 Communities in North Carolina

by Jeff Shaw January 10, 2023

WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a Westlake Village-based real estate investment trust that primarily invests in seniors housing and healthcare properties, has made a $128 million investment in 12 assisted living/memory care properties totaling 937 beds and 568 units across North Carolina. An existing LTC partner operates all the communities. The majority of LTC’s $128 million investment is structured as a joint venture and a minor portion is structured as a senior mortgage loan secured by one property. The investment was funded from approximately $99 million …

January 10, 2023

CCRC Development Finance News North Carolina

Ziegler Arranges $58.1M Bond Financing for Twin Lakes Community in Elon, North Carolina

by Jeff Shaw December 20, 2022

ELON, N.C. — Ziegler has arranged $58.1 million in bond financing for Twin Lakes Community, a continuing care retirement community (CCRC) in Elon, approximately midway between Greensboro and Durham. Twin Lakes sits on approximately 215 acres of land. It first opened in 1983 and currently operates 434 independent living units, 36 assisted living units, 32 memory care units and 104 healthcare units. It ranks as the 28th largest nonprofit single-campus senior living organization in the nation, according to the 2022 LeadingAge-Ziegler 200. Having recently completed construction of a replacement nursing …

December 20, 2022

CCRC Development Finance News North Carolina

Ziegler Arranges $95.6M Financing for The Forest at Duke in Durham, North Carolina

by Jeff Shaw December 5, 2022

DURHAM, N.C. — Ziegler has arranged $95.6 million in bond financing for The Forest at Duke, a continuing care retirement community in Durham. The community sits on 47 acres just south of Duke University. First opened to residents in 1992, the property serves over 360 residents across 154 apartments, 81 cottages (235 total independent living units), 32 assisted living units and 58 licensed skilled nursing beds. To address the changing needs of existing and future residents, The Forest at Duke adopted a strategic plan that included two phases. Phase I, …

December 5, 2022

Acquisitions New York News North Carolina South Carolina

Bellwether Arranges $62M in Financing for Seniors Housing Communities in Carolinas, New York

by Jeff Shaw October 14, 2022

GREENVILLE, S.C.; CHARLOTTE, N.C.; AND KENMORE, N.Y. — Bellwether Enterprise Real Estate Capital LLC has arranged three loan deals totaling more than $62 million to finance three assisted living and memory care communities in Greenville, one assisted living and memory care facility in Charlotte and a 150-unit affordable seniors housing development in the Buffalo suburb of Kenmore. The national seniors housing and care team at Bellwether originated the Carolina loans, led by Ryan Stoll, Taylor Mokris and Kim Huffstutler. Lundat Kassa and Anthea Martin originated the New York loan. The …

October 14, 2022

CCRC Development News North Carolina

Liberty Breaks Ground on Hayes Barton Place CCRC in Raleigh, North Carolina

by Jeff Shaw October 10, 2022

RALEIGH, N.C. — Liberty Senior Living has broken ground on Hayes Barton Place, a seniors housing community in Raleigh. Scheduled to open in 2024, the property is just three miles northwest of the heart of downtown Raleigh. A continuing care retirement community, Hayes Barton Place will feature an undisclosed number of independent living, assisted living, memory care, skilled nursing and rehabilitation units. Project partners include Grubb Ventures, Williams Realty and Building CO., Brasfield & Gorrie, WithersRavenel, Clancy and Theys Co., LS3P and Liggett Design Group.

October 10, 2022

Finance KeyBank News North Carolina

KeyBank Provides $53.1M Agency Loan for Waltonwood Lake Boone in Raleigh

by Jeff Shaw October 7, 2022

RALEIGH, N.C. — KeyBank Real Estate Capital has provided a $53.1 million Fannie Mae loan from Fannie Mae for Waltonwood Lake Boone, a 181-unit seniors housing community in Raleigh. The property offers independent living, assisted living and memory care units. Charlie Shoop of KeyBank arranged the 10-year, fixed-rate loan on behalf of the borrower, Singh Development, a real estate developer with offices in Raleigh and West Bloomfield, Mich. The financing recapitalizes a loan that KeyBank’s Healthcare Group originated in 2019, a year after Waltonwood Lake Boone opened.

October 7, 2022

Finance News North Carolina

Grandbridge Provides $34.7M Refinancing for BrightSpace Senior Living Development in North Carolina

by Jeff Shaw September 8, 2022

BREVARD, N.C. — The Atlanta-based seniors housing and healthcare finance team of Grandbridge Real Estate Capital has provided a $34.7 million Fannie Mae loan for Chattanooga-based BrightSpace Senior Living. The funds were used to provide financing for College Walk Retirement Community, a 168-unit independent living and assisted living community in Brevard. Further details were not disclosed.

September 8, 2022

Newer Posts

Older Posts