KANSAS and OHIO — Monticello has provided $20 million in first lien debt financing for the acquisition of two skilled nursing facilities and the contribution of one unencumbered skilled nursing facility located in Kansas and Ohio. The borrower is an owner-operator with a current portfolio of 1,188 licensed. Prior to this deal, Monticello financed the acquisition of a number of facilities in 2020 for the borrower.
Ohio
CANTON, Ohio — Capital Senior Living Corp. (NYSE: CSU) has sold a seniors housing community in Canton for $18 million The sale provided $6.4 million in net cash proceeds to the company, which will continue to operate the asset. The buyer and the name of the property were not disclosed. The community features 92 independent living units, 102 assisted living units and 36 memory care units.
Resort Lifestyle Communities Opens 128-Unit Independent Living Community in Hudson, Ohio
by Jeff Shaw
HUDSON, Ohio — Resort Lifestyle Communities has opened Hudson Meadows, an independent living community in Hudson, approximately 25 miles southeast of Cleveland and 12 miles north of Akron. “Our research indicated there was a significant need for independent senior living communities in the area,” says Steve Mueller, COO of Resort Lifestyle Communities. Hudson Meadows offers 128 apartments for rent in studio, one-, two- and three-bedroom options for one monthly price that includes utilities and no buy-in fee or long-term leases. Included in the monthly rent are on-site professional staff, live-in …
BRUNSWICK, Ohio — KeyBank Real Estate Capital has secured a $10.5 million FHA 232/223(f) loan for the refinancing of Brunswick Pointe Transitional Care in Brunswick, about 20 miles southwest of Cleveland. Built in 2017, the 90-bed skilled nursing facility offers short- and long-term care, physical, occupational and speech therapy, as well as wellness programs, dining and nutrition services, and personal care assistance. John Randolph and Henry Alonso of KeyBank structured the fixed-rate, 35-year loan on behalf of the borrower, Foundations Health Solutions. Loan proceeds were used to pay off a …
COLUMBUS, Ohio — Affordable housing developer Woda Cooper Cos., along with partners Gertrude Wood Community Foundation and LifeCare Alliance, have completed The Livingston, a 45-unit affordable and age-restricted community in the Near South area of Columbus. The three-story property is reserved for residents age 55 and older who earn up to 60 percent of the area median income. The project pays tribute to The Livingston Theater, a historic theater dating back to the 1940s. The theater’s marquee signage, terrazzo flooring and a portion of its lobby were restored and incorporated …
CLEVELAND — KeyBank Real Estate Capital (KBREC) and KeyBanc Capital Markets (KBCM) have secured $31 million of financing for National Church Residences, which will use the funds to renovate an affordable seniors housing community in Cleveland. Built in 1976, the 171-unit Carnegie Tower at Fairfax is a 12-story, project-based Section 8 apartment building on two acres adjacent to the Cleveland Clinic. The units are available in one- and two-bedroom configurations. The project will preserve the building as affordable housing and ensure the long-term viability of the development. KBREC provided $14 …
BRUNSWICK and NILES, Ohio — United Church Homes has acquired two apartment communities for older adults from Harbor Woods Living. The properties, built in 2016, are located south of Cleveland in Brunswick and Niles, and operate as Harbor Woods Living at Brunswick and Harbor Woods Living at Niles. Each four-story building features 127 one- and two-bedroom apartments. This acquisition is part of United Church Homes’ plan to expand its portfolio of middle-market housing for older adults.
MAYFIELD HEIGHTS, Ohio — Anthology Senior Living, a new organization created by development firm CA Ventures, has opened Anthology of Mayfield Heights in the suburbs of Cleveland. The property features 180 units of independent living, assisted living and memory care in 164,000 square feet. “Our team has been operating several senior living communities in 11 states including Ohio since our launch as Anthology Senior Living in 2019,” says Benjamin Burke, president of Anthology Senior Living. HED designed the community.
BEACHWOOD, Ohio — Sunshine Retirement Living has named Brandy Delp as the executive director of Windsor Heights Assisted Living and Memory Care of Beachwood in the suburbs of Cleveland. In her new role, Delp is responsible for all day-to-day management and operations of the community, including financials, marketing, and government and community relations. She will also oversee all health and safety programs including new heightened procedures and protocols to prevent and mitigate COVID-19 infection. A licensed practical nurse (LPN), Delp is also a certified dementia practitioner and a certified executive …
LEXINGTON, Ky., and CINCINNATI — CBRE has arranged an undisclosed amount of financing for three seniors housing communities in the Lexington and Cincinnati metro areas. The borrower is a joint venture between LCS Real Estate and Nuveen Real Estate. All three properties fall under the Magnolia Springs brand. Of the 328 units in the portfolio, 232 are for assisted living and 96 are for memory care. Aron Will, Austin Sacco and Matthew Kurornen of CBRE National Senior Housing arranged three separate, non-crossed, five-year, floating-rate loans with 36 months of interest-only …