SAVOY, Ill. — Evans Senior Investments (ESI) has arranged the sale of Champaign Urbana Nursing & Rehab in Savoy, approximately midway between Chicago and St. Louis. A regional owner-operator sold the asset to Mozart Healthcare, which plans to install Accolade Healthcare as the operator. The price was not disclosed. Initially built in 1975, the facility is licensed for 213 skilled nursing beds, and at the time of marketing was 49 percent occupied. Due to the headwinds of the COVID-19 pandemic, which placed bans on admissions and restricted elective surgeries, the …
BOSTON — Beacon Communities, Boston-based affordable housing developer, has hired Tim Sullivan as chief administrative officer (CAO). Formerly of UBS and MassHousing, Sullivan will be responsible for the overall financial strategy and oversight of information technology, human resources, accounting and finance. Bringing extensive knowledge and deep financial expertise to Beacon, Sullivan most recently served as managing director and head of housing finance and New England region for the public finance department at UBS. Before joining UBS in 2017, he spent 15 years at MassHousing, where he served as the executive …
LONG BEACH, Calif. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Brittany House Memory Care Center in Long Beach, just south of Los Angeles. The seller is a San Diego-based developer and operator looking to focus its resources on a newly developed portfolio of communities throughout Orange and San Diego counties. The buyer is a Los Angeles-based high-net-worth family. The price was not disclosed. The Blueprint team included Jacob Gehl and Scott Frazier.
KANSAS, IOWA and NEBRASKA — Tutera Senior Living & Health Care has added 10 communities in Kansas, Iowa and Nebraska to its management portfolio. The new assets expand the company’s footprint by more than 20 percent and total 443 units of assisted living, memory care and residential care. Tutera is retaining all employees at the newly added communities to ensure continuity of care for residents. The 10 communities are: IOWA • Anamosa – Pinicon Place Senior Living • Carroll – Rolling Meadows Senior Living • Clarinda – Eiler Place Senior Living • Council Bluffs …
MUSKEGO and OAK CREEK, Wis. — Walker & Dunlop has arranged HUD acquisition loans for a portfolio of two seniors housing communities in the suburbs of Milwaukee. Kevin Giusti and Daniel Barone led the finance team that secured the $16 million HUD acquisition loan on behalf of the borrower, a well-versed developer, and the lender, the U.S. Department of Housing and Urban Development. The first community is Caring Alternatives of Muskego, a 34-bed/30-unit assisted living facility in Muskego. Walker & Dunlop arranged a $7.2 million loan for the transaction. The …
NORWOOD, Mass. — LCB Senior Living, a Norwood-based owner-operator, has promoted Amber Evans to vice president of memory care and resident engagement. In this role, Evans will oversee LCB’s Reflections Memory Care Program and resident engagement operations. Evans joined LCB Senior Living in 2015 as a memory care and engagement specialist before being promoted to director of memory care and resident engagement in 2021. In February, she was also named the vice chair of education outreach for the National Institute for Dementia Education’s Standard of Excellence Council. Evans is a …
ROLLING MEADOWS, Ill. — Greystone has provided a $16.8 million HUD LEAN 232/223(f) green loan to refinance a 102-unit supportive living facility in Rolling Meadows, approximately 25 miles northwest of Chicago. Plum Creek at Rolling Meadows is a three-story facility on 1.46 acres, which was constructed in 1986 as a hotel property and converted to a supportive living facility in 2006. The Supportive Living program in Illinois is an alternative to nursing home care for low-income older persons requiring mid-range care needs as opposed to skilled nursing. With the 35-year …
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, …
ST. PETERSBURG, Fla. — First Citizens Bank has provided a loan to refinance American House St Petersburg, a senior living community in St. Petersburg. The borrower is a joint venture between American House, Harrison Street and Prevarian Senior Living, which opened the community in 2021. This community features 66 independent living units, 66 assisted living units and 33 memory care units. Terms of the loan were not released.
ORLANDO — Spiezle, an Orlando-based architectural firm, has hired Suzanne Barnes as director of client services. Barnes has over four decades of experience in architecture, design and business development with work in senior living, healthcare and mixed-use development. She has spearheaded large-scale senior living, mixed-use design projects that serve more than 7,000 residents. Barnes is a member of the AIA National Design for Aging Advisory Board, Women in Architecture, and former chair of the Orlando Foundation for Architecture. She is currently a part of the Urban Land Institute’s Real Estate …