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.
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.
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 …
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 …
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.
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.
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 …
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 …
MACEDONIA, Ohio — Walker & Dunlop Investment Sales (WDIS) has arranged the sale of American House Macedonia, a 100-unit assisted living and memory care community in the Northeast Ohio city of Macedonia. Sonida Senior Living Inc. (NYSE: SNDA) acquired the community for $10.7 million, bringing the total number of the company’s Ohio properties to 11. The seller was not disclosed. The asset, built in 2015, experienced operational challenges due to the COVID-19 pandemic, according to Walker & Dunlop. Alex Vice, Joshua Jandris and Brett Gardner led the Walker & Dunlop …
FLORENCE, Ky. — Walker & Dunlop Investment Sales has arranged the sale of Legacy Living Florence, a 128-unit senior living community in Florence, just south of Cincinnati, Ohio. Built in 2022, Legacy Living features independent living, assisted living and memory care services. The buyer was a REIT. The seller and price were not disclosed. Alex Vice, Joshua Jandris and Brett Gardner led the Walker & Dunlop team.