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AcquisitionsAssisted LivingFinanceIowaNews

Jaybird Senior Living Receives $17.9M Acquisition Financing for Two Communities in Iowa

by Jeff Shaw

MASON CITY and INDIANOLA, Iowa — JLL Capital Markets has arranged acquisition financing for two assisted living and memory care communities in Iowa on behalf of affiliates of Jaybird Senior Living. The facilities, Vintage Hills in Indianola and Country Meadow Place in Mason City, total 118 units combined. Jaybird already managed both properties prior to the acquisition. JLL secured two loans totaling $17.9 million, or $151,436/unit, representing greater than 80 percent of the total purchase price. One loan was facilitated through a regional bank, while the other utilized the HUD/FHA …

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AcquisitionsMassachusettsNews

JLL Negotiates Sale of 80-Unit The Residence at Orchard Grove in Shrewsbury, Massachusetts

by Jeff Shaw

SHREWSBURY, Mass. — JLL Capital Markets has arranged the sale of The Residence at Orchard Grove, a seniors housing community in Shrewsbury, a suburb just east of Worcester. JLL represented the seller, Blue Moon Capital Partners, and procured the buyer, a public REIT. LCB will continue to manage the community operations. The price was not disclosed. The Residence at Orchard Grove comprises 80 independent living, assisted living and memory care apartments. The three-story building spans 75,000 gross square feet and first opened its doors in October 2017.Jay Wagner, Aaron Rosenzweig, Rick Swartz …

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AcquisitionsAssisted LivingNewsSouth Carolina

Blueprint Brokers Sale of Five-Property Portfolio in South Carolina

by Jeff Shaw

SOUTH CAROLINA — Blueprint Healthcare Real Estate Advisors has arranged the sale of five assisted living and memory care communities in South Carolina. The 334-unit portfolio is located in multiple cities throughout the state, all built in the late 1990s. A court-appointed Receiver selected Blueprint to lead the disposition process on behalf of the lender. Spring Oak, a family-owned company based in New Jersey, purchased the properties for an undisclosed price. Brooks Blackmon, Ryan Chase and Lauren Nagle led the Blueprint team.

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Assisted LivingColoradoDevelopmentFinanceNews

Lument Arranges $27M Construction Financing for Mesa Verde Estates in Durango, Colorado

by Jeff Shaw

DURANGO, Colo — Lument has arranged a $27 million debt placement to assist Mission Senior Living with the construction of a 124-unit, 129-bed, two-story assisted living and memory care community to be known as Mesa Verde Estates in Durango.  Lument’s Steve McGee, Rob McAdams, and Sangjin Na led the transaction. The financing structure included a $20.9 million U.S. Department of Agriculture (USDA) guaranteed loan that a community bank provided. The structure also includes approximately $6 million of commercial property assessed clean energy (C-PACE) proceeds, which Lument sourced from an independent …

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Affordable HousingDevelopmentNewsPennsylvania

Tryko Nears Completion of 46-Unit Cedarwood Homes Affordable Community in Pittsburgh

by Jeff Shaw

PITTSBURGH — With construction progressing on schedule for a March 2024 delivery, leasing is underway at Cedarwood Homes in Pittsburgh’s West End.  An on-site leasing office is now open at the age-restricted affordable housing community, marking a milestone for Tryko Partners’ redevelopment of the former Fairywood School site.  Available to residents ages 62 and over, Cedarwood Homes includes seven market-rate apartments and 39 residences for those with incomes up to 60 percent of the area median income.

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NewsPeople

Health Dimensions Group Names Todd Ellingson as Chief Financial Officer

by Jeff Shaw

MINNEAPOLIS — Health Dimensions Group, a Minneapolis-based operator, has named Todd Ellingson as chief financial officer. With more than 35 years of financial leadership experience, Ellingson has a record in growing organizations’ capital structure and managing multi-million-dollar acquisitions. He began his career as a senior accountant at Deloitte and since then has grown to hold several high-level, financial leadership roles, including his most recent position as the CFO of a $70 million, global professional services firm. Ellingson earned his accounting degree from the University of Wisconsin-Eau Claire in 1989. He …

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Affordable HousingCaliforniaDevelopmentNews

Kennedy Wilson Nears Completion of 579-Unit Anacapa Canyon Multifamily Project in Camarillo, California

by Jeff Shaw

CAMARILLO, Calif. — Global investment and development firm Kennedy Wilson (NYSE: KW) is nearing completion of Anacapa Canyon, a 579-unit multifamily project in the Southern California community of Camarillo. Anacapa Canyon, a 32-acre master-planned development, consists of 310 market-rate apartments, 109 for-sale, single-family homes and 170 income-restricted apartments for senior citizens. The first move-ins are underway, and full completion of the project is slated for the third quarter. Kennedy Wilson developed Anacapa Canyon in a public-private partnership with California State University Channel Islands (CSUCI) and partnered with Comstock Homes, as …

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AcquisitionsAssisted LivingKansasNews

Blueprint Negotiates Sale of 58-Unit Community in Central Kansas

by Jeff Shaw

KANSAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 58-unit assisted living community in Central Kansas. The community was built in the early 1990s and was well maintained by current ownership including a $400,000 capital expenditure investment to ensure the community remained competitive within the local market, according to Blueprint. The buyer was a Kansas-based owner-operator. The seller, price and further details were not disclosed. Amy Sitzman, Giancarlo Riso and Kory Buzin led the Blueprint team.

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Company NewsFinanceNews

Capital Funding Group Finishes 2023 with $1.7B in Lending Volume

by Jeff Shaw

BALTIMORE — Capital Funding Group (CFG), a Baltimore-based lender, executed or arranged more than $1.7 billion in financing across 50 deals in 2023.  The transactions included 34 healthcare bridge-to-HUD loans, five multifamily bridge loans, and 11 HUD loans. The multifamily bridge-to-HUD loans totaled approximately $49.7 million of the company’s annual financing.

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NewsPeople

Former LeadgingAge Executive Kathryn Brod Joins Acts Board

by Jeff Shaw

FORT WASHINGTON, Pa. — Acts Retirement-Life Communities, a nonprofit operator based in Fort Washington, has elected Kathryn Brod to its board of directors. With over 30 years of experience in the senior living sector, Brod brings knowledge in financial management, research, marketing, human resources management and systems consulting. Her career includes leadership roles at prominent organizations, most notably serving as president and CEO of LeadingAge Ohio. Additionally, she held positions at Mather LifeWays as vice president of senior living strategic initiatives and at Ziegler as senior vice president and director …

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