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Affordable HousingDevelopmentFinanceNewsOhio

KeyBank Arranges $93M in Construction Financing for Affordable Seniors Housing Development in Columbus, Ohio

by Hayden Spiess

COLUMBUS, Ohio — KeyBank Community Development Lending and Investment (CDLI) has arranged a total of $93 million in construction financing for a new affordable seniors housing community in Columbus.  Dubbed The Caravel, the community will feature 234 units for residents age 55 and older who earn at or below 50, 60 and 70 percent of the area median income (AMI). Of the garden-style apartments, 25 will be fully accessible, and all units will be adaptable for residents with ADA needs.  KeyBank provided a $43.3 million construction loan and $23.8 million in …

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Memorial Gables in Marysville, Ohio
AcquisitionsNewsOhioSkilled Nursing

Senwell Brokers Sale of 112-Bed Skilled Nursing Facility in Marysville, Ohio

by Channing Hamilton

MARYSVILLE, Ohio — Senwell Senior Investment Advisors has brokered the sale of Memorial Gables, a 112-bed skilled nursing facility located in Marysville, approximately 34 miles northwest of Columbus in Union County. The buyer was an Ohio-based operator, which has more than 25 years of experience in Ohio’s senior care industry and operates numerous facilities across the state. Ohio. Union County was the seller of the facility, which had been operated as part of the Memorial Health system. Toledo, Ohio-based Senwell engaged more than 400 organizations nationally, with 68 signing non-disclosure …

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FinanceNewsOhioSkilled Nursing

CFG Provides $12.5M Bridge Loan for Skilled Nursing Facility in Ohio

by Jeff Shaw

OHIO — Capital Funding Group (CFG) has provided a $12.5 million bridge-to-HUD loan, which supported the refinancing of an existing bridge loan.  The subject property is a 175-bed skilled nursing and assisted living facility in Ohio. Further details were not disclosed.  Craig Casagrande of CFG originated the transaction.

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AcquisitionsAssisted LivingNewsOhio

Confluent Senior Living Sells 110-Unit Community in Beavercreek, Ohio

by Jeff Shaw

BEAVERCREEK, Ohio — Ziegler has advised Confluent Senior Living on the sale of a 110-unit assisted living and memory care community in Beavercreek, a suburb of Dayton. Confluent Senior Living is a subsidiary of Confluent Development, which is a full-service real estate investment and development firm. Community First Solutions purchased the community for an undisclosed price and took over operations. Community First is a nonprofit health and human services organization.

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AcquisitionsNewsOhio

ESI Arranges Sale of Three-Property Portfolio in Western Ohio

by Jeff Shaw

OHIO — Evans Senior Investments (ESI) has arranged the sale of a three-property portfolio in Western Ohio. The transaction was executed on behalf of the Mariner Management Group Inc., an independent owner and operator seeking to exit the industry. The portfolio, which was built in stages between 1990 and 2013, consists of three communities with a total of 317 licensed skilled nursing beds and 209 seniors housing units.  At the onset of ESI’s marketing process, the average occupancy rate was stagnant at 65 percent, leading to financial challenges. Despite these …

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DevelopmentIndianaInvestmentKentuckyMichiganNewsOhio

Trilogy Health Services Announces Expansion Plans in Indiana, Kentucky, Michigan, Ohio

by Jeff Shaw

LOUISVILLE, Ky. — Trilogy Health Services has announced an investment plan to develop and expand senior living and assisted living services in Indiana, Kentucky, Michigan and Ohio.  The investment aims to help address the growing demand for senior living accommodations and services. The plan includes expanding facilities across several states and developing a new campus. Trilogy will kick off its patio home expansions this summer in Sylvania, Ohio, with 26 new independent living patio homes for seniors at The Lakes of Sylvania. The expansion is projected to start in July …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Arranges Sale of 80-Bed Skilled Nursing Facility Near Akron, Ohio

by Jeff Shaw

AKRON, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of an 80-bed skilled nursing facility. Purpose-built in 2015 as a transitional care facility in a northeastern suburb of Akron, the facility presented numerous paths to stabilization with strong fundamentals and attractive in-place HUD financing, according to Blueprint. The buyer was a regional owner/operator with significant experience in Northeast Ohio, allowing for a quick HUD Transfer of Physical Assets approval. The seller and price were not disclosed. Connor Doherty and Ryan Kelly led the Blueprint team.

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AcquisitionsIndianaNewsOhio

Berkadia Negotiates Sale of 247-Unit Midwestern Portfolio

by Jeff Shaw

INDIANA and OHIO — Berkadia has arranged the sale of two recently developed, Class A senior living communities offering independent living, assisted living and memory care services in Indiana and Ohio.  Berkadia Seniors Housing & Healthcare, led by Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers, closed the 247-unit transaction on behalf of Indianapolis-based Leo Brown Group. The buyer was a long-time owner of senior living communities. Leo Brown Group developed the properties, which Traditions Management operates.The assets were built in 2020 and 2021.

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AcquisitionsNewsOhioSkilled Nursing

Ziegler Brokers Sale of 206-Bed Skilled Nursing Portfolio in Ohio

by Jeff Shaw

OHIO — Ziegler has acted as sell-side financial advisor to the sale of a portfolio located in Northern Ohio. The portfolio comprised three buildings consisting of 182 skilled nursing beds and 24 behavioral health beds. The seller is a leading nonprofit organization dedicated to providing affordable housing, healthcare and supportive services to various populations, including seniors, veterans and families in need. The portfolio represents the organization’s only healthcare properties in Ohio. The buyer is a privately held, for-profit owner and operator based in Englewood Cliffs, New Jersey, that intends to …

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AcquisitionsIndianaKentuckyNewsOhio

Walker & Dunlop Negotiates Sale of 700-Unit Midwestern Portfolio

by Jeff Shaw

OHIO, KENTUCKY and INDIANA — Walker & Dunlop Investment Sales has arranged the sale of the Magnolia Springs Portfolio, consisting of seven communities and nearly 700 units across Ohio, Kentucky and Indiana. The seller was an institutional owner-operator while the buyer was a publicly traded REIT. The communities are 10 years old on average. The buyer plans to strategically invest capital into the physical plant of each community to take advantage of strong submarket supply and demand fundamentals. Josh Jandris, Brett Gardner and Alex Vice led the Walker & Dunlop …

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