Ohio

Continuum Advisors Brokers Sale of 120-Unit The Weils in Chagrin Falls, Ohio

by Jeff Shaw January 10, 2024

CHAGRIN FALLS, Ohio — Continuum Advisors has arranged for the sale of The Weils, a 120-unit assisted living, memory care and skilled nursing community in Chagrin Falls, an eastern suburb of Cleveland. Built in phases between 2002 and 2015, the community consists of 75 assisted living units, 18 memory care units and 27 skilled nursing units. The community sits on a 45-acre site and includes excess acreage for future expansion. Through the marketing of the campus for sale, the community featured occupancy around 85 percent. Cleveland-area based non-profit Eliza Jennings …

January 10, 2024

Acquisitions Indiana News Ohio

SLIB Negotiates Sale of Five-Community Portfolio in Ohio, Indiana

by Jeff Shaw December 5, 2023

OHIO and INDIANA — Senior Living Investment Brokerage (SLIB) has arranged the sale of a five-property portfolio located in Ohio and Indiana. The five communities total 400 units and were built between 1983 and 2001. The Ohio communities are all located within 250 miles of each other, and the Indiana communities are located within 75 miles of each other. The portfolio is well maintained and underwent significant capex over the last few years, according to SLIB. The seller was a Northeast-based private REIT that divested the portfolio to focus on …

December 5, 2023

Acquisitions Affordable Housing CCRC News Ohio

Blueprint Arranges Sale of Mixed-Income Vineyard on Catawba Campus in Ohio

by Jeff Shaw November 29, 2023

CATAWBA ISLAND, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of Vineyard on Catawba in the lakeside town of Catawba Island. The campus features independent living units, assisted living apartments, developable land and affordable senior apartments. The seller was one of the country’s largest nonprofits. The buyer was United Church Homes, another large nonprofit seniors housing provider. The price was not disclosed. United Church Homes has rebranded the campus as The Parkvue Community on Catawba Island. Connor Doherty and Ryan Kelly led the Blueprint team.

November 29, 2023

Affordable Housing Development Finance KeyBank News Ohio

KeyBank Provides $11.4M Construction Financing for Garrett Square Apartments in Cleveland

by Jeff Shaw October 31, 2023

CLEVELAND — KeyBank Community Development Lending and Investment (CDLI) has provided $11.3 million for 9 percent tax credit equity to finance the construction of Garrett Square Apartments, a 49-unit affordable seniors housing project located in the Glenville neighborhood of Cleveland. KeyBank will provide a $9 million construction loan and a $2.3 million permanent loan. Additional permanent financing sources include secondary soft loans of $1.7 million provided through the City of Cleveland’s American Rescue Plan Act, $900,000 from City Home, and $450,000 from the County ERA fund. Garrett Square will be …

October 31, 2023

Acquisitions Assisted Living News Ohio

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

by Jeff Shaw October 6, 2023

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 …

October 6, 2023

Finance Minnesota News Ohio Skilled Nursing Wisconsin

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

by Jeff Shaw October 2, 2023

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 …

October 2, 2023

Finance News Ohio Skilled Nursing

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

by Jeff Shaw August 31, 2023

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.

August 31, 2023

Acquisitions Assisted Living News Ohio Skilled Nursing

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

by Jeff Shaw August 18, 2023

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, …

August 18, 2023

Finance News Ohio

Ziegler Arranges $59.9M Bond Financing for Ohio Living

by Jeff Shaw August 10, 2023

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 …

August 10, 2023

Acquisitions Assisted Living News Ohio

Blueprint Negotiates Sale of 88-Unit Community in Metro Cleveland

by Jeff Shaw July 28, 2023

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.

July 28, 2023

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