GREEN SPRINGS, Ohio — Evans Senior Investments (ESI) has arranged the sale of Eden Springs Nursing & Rehabilitation, a 167-bed skilled nursing and assisted living community, for $3.5 million. Built in 1963 and 1993 in Green Springs, the facility consists of an east campus (31 skilled nursing beds and 20 assisted living units) and a west campus (120 skilled nursing beds). At the time of the sale, the community was 44 percent occupied and was losing just under $500,000 a year in net operating income. This sale, which comes to …
COLUMBUS and REYNOLDSBURG, Ohio — Ziegler has arranged $69.5 million in bond financing for The Methodist Retirement Center of Central Ohio, a nonprofit corporation doing business as The Wesley Communities. Incorporated in 1965 as a faith-based provider, The Wesley Communities comprises three senior living properties totaling 668 units: Wesley Glen in Columbus, Wesley Ridge in Reynoldsburg and Wesley Woods at New Albany in Columbus. Additionally, Wesley Hospice provides hospice services throughout the communities. The assisted living, memory care and skilled nursing units in Wesley Glen and the assisted living and …
AUSTINTOWN, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Victoria House in Austintown, approximately 10 minutes west of downtown Youngstown. The property features 64 units, totaling 84 licensed beds and 72 operational beds. The community opened in December 2005 and features a secured specialty care wing for residents with Alzheimer’s disease and dementia. Blueprint successfully negotiated a lease of the community several years ago to a regional operator, Continuing Healthcare Solutions, which has now successfully exercised its purchase option to acquire the community.
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.
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.
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.