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AcquisitionsAssisted LivingNewsOhio

Blueprint Arranges Sale of 101-Unit Anthology of Mason in Ohio

by Jeff Shaw

MASON, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Anthology of Mason, a 101-unit assisted living and memory care community in the Cincinnati suburb of Mason. The seller was Anthology Senior Living, with is a subsidiary of CA Ventures. Community First Solutions, an institutional investor with an all-cash offer, acquired the property for an undisclosed price. The community opened in late 2017 with an adjacent parcel of land well suited to an independent living expansion. Anthology elected to sell the community to recycle capital.  The Blueprint …

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FinanceMinnesotaNewsOhioSkilled NursingWisconsin

Dwight Mortgage Trust Funds $29.5M Bridge Loan for Midwest Healthcare Portfolio

by Jeff Shaw

MINNESOTA, OHIO and WISCONSIN — Dwight Mortgage Trust, the affiliate REIT of Dwight Capital, provided a $29.5 million bridge loan for a portfolio of five skilled nursing and assisted living facilities in Minnesota, Ohio, and Wisconsin: The Landing at Stow, Evansville Manor Nursing and Rehabilitation, Edenbrook Fond du Lac, Edenbrook of Rochester, and Edenbrook of Edina.  Together, the facilities consist of 441 beds across 25 acres. The purpose of the loan was to refinance three of the facilities and acquire the other two. Dwight has financed over 20 facilities for …

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FinanceNewsOhioSkilled Nursing

CFG Provides $7.2M Refinancing for Skilled Nursing Facility in Ohio

by Jeff Shaw

OHIO — Capital Funding Group (CFG) has provided a $7.2 million refinancing, which supported the turning an existing bridge loan executed by CFG into a HUD loan.  The refinancing supported a 75-bed skilled nursing facility in Ohio. Further details on the property and buyer were not disclosed. Tim Eberhardt of CFG originated the transaction.

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AcquisitionsAssisted LivingNewsOhioSkilled Nursing

Blueprint Brokers Sale of 192-Bed St. Theresa Care Center in Cincinnati

by Jeff Shaw

CINCINNATI — Blueprint Healthcare Real Estate Advisors has arranged the sale of St. Theresa Care Center in Cincinnati. A public REIT elected to execute the strategic sale of the facility following an operator transition earlier this year. St. Theresa Care Center is licensed for 92 assisted living beds and 99 skilled nursing beds. A National Historic Landmark, St. Theresa Care Center was originally built as an acute care hospital in the mid-1920s and was later expanded in the late 1950s. The building, which was ultimately converted to its current use, …

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FinanceNewsOhio

Ziegler Arranges $59.9M Bond Financing for Ohio Living

by Jeff Shaw

WESTERVILLE, Ohio — Ziegler has arranged $59.9 million in bond financing for Ohio Living, a Westerville-based nonprofit operator of 12 seniors housing communities in Ohio. Bond proceeds will be used to refund existing bank debt, terminate an interest rate swap agreement, fund a debt-service reserve fund equal to approximately one year of debt service, fund approximately $3 million of capital expenditures and pay certain costs of issuance associated with the financing.  The bonds consist of tax-exempt, fixed-rate serial and term bonds with an 18-year final maturity. The financing includes a …

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AcquisitionsAssisted LivingNewsOhio

Blueprint Negotiates Sale of 88-Unit Community in Metro Cleveland

by Jeff Shaw

CLEVELAND — Blueprint Healthcare Real Estate Advisors has arranged the sale of an 88-unit assisted living and memory care community in metro Cleveland. The community was built in 1988. Blueprint used the availability of the Ohio Assisted Living Medicaid Waiver Program as a selling point. The seller was a public REIT and its operating partner. The buyer was a private owner-operator looking to expand in the area. The price was not disclosed. The Blueprint team included Ben Firestone, Michael Segal, Connor Doherty, Ryan Kelly and Lauren Nagle.

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AcquisitionsCCRCNewsOhio

Ziegler Arranges Sale of 246-Unit The Village at Marymount in Garfield Heights, Ohio

by Jeff Shaw

GARFIELD HEIGHTS, Ohio — Ziegler has arranged the sale of The Village at Marymount, a 246-unit senior living and skilled nursing retirement community in Garfield Heights, a suburb of Cleveland. Built in 1952, Marymount is a faith-based, nonprofit continuing care retirement community established by the Sisters of St. Joseph of the Third Order of St. Francis.  The buyer, a privately held owner and operator based in Lakewood, New Jersey, took over operations on June 30. The new owner assumed approximately $16 million of HUD debt as part of the transaction. …

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Affordable HousingDevelopmentFinanceKeyBankNewsOhio

KeyBank Provides $9.9M Loan for Affordable Housing Conversion in Cleveland Heights, Ohio

by Jeff Shaw

CLEVELAND HEIGHTS, Ohio — KeyBank Community Development Lending and Investment (CDLI) has provided $9.9 million in Low-Income Housing Tax Credit (LIHTC) equity to finance the conversion of the Margaret Wagner Senior Apartments in Cleveland Heights to 80 low-income seniors housing units.  The development will create 20 new apartments through the adaptive re-use of the first floor of Margaret Wagner House and preserve 60 apartments on the upper floors. Built in 1960 as a nursing home by the Benjamin Rose Institute on Aging, the facility offers HUD 202 PRAC subsidy for …

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AcquisitionsAssisted LivingNewsOhio

SLIB Negotiates Sale of 81-Unit Community in Stow, Ohio

by Jeff Shaw

STOW, Ohio — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Landing of Stow, a seniors housing community in Stow, approximately 27 miles southeast of Cleveland. The property was built in 2008 and offers 61 assisted living and 20 memory care units. The seller of the community chose to divest this asset to focus attention on communities that more closely align with its current footprint. The buyer is a Midwest-based owner-operator looking to strategically add to its existing footprint in Ohio. The price was not disclosed. Bradley …

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AcquisitionsNewsOhioSkilled Nursing

Blueprint Negotiates Sale of 105-Bed The Fairhaven in Upper Sandusky, Ohio

by Jeff Shaw

UPPER SANDUSKY, Ohio — Blueprint Healthcare Real Estate Advisors has brokered the sale of The Fairhaven in Upper Sandusky, approximately midway between Columbus and Toledo. United Church Homes sold the community, which was originally built in 1920 and features 99 skilled nursing beds and six independent living units. The undisclosed buyer specialized in buying and maintaining faith-based communities. Marketed as a value-add opportunity, the new owner plans to built a state-of-the-art replacement facility on the property.

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