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AcquisitionsFinanceNewsOhio

Meridian Capital Group Arranges Acquisition Financing for Six Communities in Cincinnati

by Jeff Shaw

CINCINNATI — Meridian Capital Group has arranged acquisition financing for a portfolio of six senior living and skilled nursing properties in Cincinnati. A finance company provided the capital. The portfolio consists of six Class A skilled nursing, memory care, independent living and assisted living facilities totaling 510 beds. This transaction was negotiated through Meridian’s seniors housing and healthcare platform, led by Ari Adlerstein and Josh Simpson, along with Matt Lesnik and Jesse Rauch.

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AcquisitionsNewsOhio

Blueprint Brokers Sale of Three Communities in Southwest Ohio

by Jeff Shaw

CINCINNATI — Blueprint Healthcare Real Estate Advisors has arranged the sale of three seniors housing communities in the Cincinnati metro area. A continuing care retirement community anchors the portfolio, which totals 299 skilled nursing beds and 211 seniors housing units. A family seeking a succession plan sold the community to an institutional buyer for an undisclosed price. The communities were added to the buyer’s existing joint venture with a Cincinnati-based operator.

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Active AdultDevelopmentNewsOhio

True Connection Completes Verena at Hilliard Active Adult Community in Ohio

by Jeff Shaw

HILLIARD, Ohio — True Connection Communities has completed development of Verena at Hilliard, an active adult community in Hilliard, a suburb of Columbus. The property features one- and two-bedroom options and offers direct interior access to the Hilliard branch of the Columbus Metropolitan Library. A grand opening will be held on Wednesday, June 8.

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FinanceNewsOhioSkilled Nursing

Cambridge Provides $15.3M HUD Refinancing for Continuing Healthcare of Niles in Ohio

by Jeff Shaw

NILES, Ohio — Cambridge Realty Capital Cos. has provided a $15.3 million HUD-insured loan for Continuing Healthcare of Niles, a 136-bed skilled nusring facility located in Niles, approximately midway between Cleveland and Pittsburgh. Cambridge Realty Capital Ltd. of Illinois, Cambridge’s specialists in FHA-insured HUD loans, originate the loan. Further details were not disclosed.

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AcquisitionsNewsOhio

SLIB Brokers Sale of 267-Bed Cedar Village in Mason, Ohio

by Jeff Shaw

MASON, Ohio — Senior Living Investment Brokerage (SLIB) has arranged the sale of Cedar Village, a seniors housing community in Mason, Ohio, approximately 22 miles northeast of downtown Cincinnati. Cedar Village features 105 independent living/assisted living units and 162 skilled nursing beds. The seller was a nonprofit owner based in Indiana divesting of its only community in Ohio. The buyer was a regional owner with other properties nearby. The price was not disclosed. Ryan Saul of SLIB handled the transaction. “This transaction offered a great opportunity for a company looking …

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FinanceNewsOhioSkilled Nursing

Cambridge Provides $6.1M HUD Refinancing for Continuing Healthcare of Milan in Ohio

by Jeff Shaw

MILAN, Ohio — Cambridge Realty Capital Cos. has provided a $6.1 million HUD-insured loan for Continuing Healthcare of Milan, a 92-bed skilled nursing facility in Milan, a small village of fewer than 1,500 residents between Cleveland and Toledo. The loan refinances existing debt on the property. “The loan was underwritten by Cambridge Realty Capital Ltd. of Illinois, our specialists in FHA-insured HUD loans,” says Jeffrey Davis, Cambridge’s chairman.

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AcquisitionsArkansasGeorgiaIndependent LivingNew JerseyNewsOhioOklahomaSouth Carolina

Discovery Senior Living, NHI Acquire Nine-Community Independent Living Portfolio

by Jeff Shaw

BONITA SPRINGS, Fla. — Discovery Senior Living and National Health Investors (NYSE: NHI) have formed a joint venture to acquire and rebrand nine former Holiday Retirement communities. The properties are located in Arkansas, Georgia, Ohio, Oklahoma, New Jersey and South Carolina and total 1,094 units. Discovery Senior Living and its subsidiary management companies have taken over operations. Additionally, Discovery will assume operations of Isles of Vero Beach, a 230-unit assisted living community in Vero Beach, Florida, through Discovery and NHI’s existing joint venture. That property will be renamed Discovery Village …

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DevelopmentFinanceNewsOhio

Monarch Advisors Arranges $18.9M Construction Financing for Community in Bowling Green, Ohio

by Jeff Shaw

BOWLING GREEN, Ohio — Monarch Advisors has arranged $18.9 million financing for the development of a 105-unit, 116-bed skilled nursing, assisted living and memory care community in Bowling Green, approximately 22 miles south of Toledo. The borrower is Trilogy Opportunity Fund I, a development fund based in Louisville, Kentucky. The loan represents 80 percent of the total cost of the project. Monarch secured a senior loan commitment from a local bank for a five-year term and a 3.5 percent fixed interest rate. The loan is structured as interest only for …

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