ARIZONA — Capital Funding Group (CFG) has provided a $10.3 million HUD loan for a 94-bed skilled nursing facility in Arizona. The new loan refinances an existing bridge loan, executed by CFG, both for “a nationally recognized borrower.” Further details were not disclosed.
Data on occupancy and expenses plays an invaluable role in helping operators understand their business. Still, that data often has a sizable blind spot inside the resident rooms. That gap in knowledge was the topic of a webinar held Oct. 17, titled “Inside the Resident Room: In-Unit Data Helps Seniors Housing Operators Improve Safety & Increase Profitability.” Monitoring company EyeWatch LIVE sponsored the Seniors Housing Business webinar. The panel of industry experts included Joshua Freitas, chief research officer, CERTUS Senior Living; Susan Coppola, founder and CEO, Benessere Health Advisory; Jesse English of …
SMITHTOWN, N.Y. — JLL Capital Markets has arranged $29 million in financing for Whisper Woods of Smithtown, a 101-unit, 136-bed assisted living and memory care community in Smithtown. JLL represented the borrowers, Sculptor Real Estate and Benchmark Senior Living. A regional bank, a new lending partner for both groups, provided the three-year loan. Built in 2018, Whisper Woods of Smithtown is a Class A community located in Long Island’s Suffolk County, approximately 50 miles from Manhattan, which is accessible by a 90-minute train ride from Smithtown. The JLL Capital Markets …
MEMPHIS, Tenn. — Liberty Senior Living has opened Brightmore of East Memphis, an independent living, assisted living and memory care community in Memphis. Further details were not disclosed.
FORT WAYNE, Ind. — Priority Life Care, a Fort Wayne-based senior living operator has promoted three of its employees to leadership positions. Dave Kloster was appointed as the executive vice president of operations, while Matt Lanzi and Johanna Ruble were both promoted to regional vice president of operations. Priority Life Care operates 58 communities.
NORTH PALM BEACH, Fla. — AgeWell Solvere Living, a North Palm Beach-based operator, has assumed management of the entire, 14-property portfolio of Sonata Senior Living. The move will function as a merger, integrating both organizations’ leadership teams. The merger of management and leadership teams is aimed at enhancing the quality and depth of support and offerings that the combined company will provide to investors, residents and team members. The company will continue to operate out of its offices in North Palm Beach and will retain the Sonata Senior Living office …
CHICAGO — Seniors housing investors expect that capitalization rates will increase over the next 12 months, according to the inaugural edition of the Seniors Housing Investor Survey. Partner Valuation Advisors, a Chicago-based valuation firm, completed the survey in September with over 100 respondents. The purpose of the survey is to identify current trends in the seniors housing sector, which has seen numerous changes due to the impacts of increased interest rates/cost of debt and inflation, according to Partner Valuation Advisors. These factors led to declining transactional and lending volume in …
SARASOTA, Fla. — Cambridge Realty Capital has provided a $29.2 million first mortgage loan to refinance Aravilla Sarasota in Sarasota. The loan is fully amortizing with a 35-year term. Tony Marino of Cambridge arranged the financing for a Florida-based limited liability company. Cambridge’s early rate lock program was utilized, which allowed the owner to avoid the recent run-up in interest rates.
MENIFEE, Calif. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Sunny Rose Glen, a 55-unit assisted living and memory care community in the Inland Empire city of Menifee. The community was built in 2010 and totals 30,000 square feet on a 1.8-acre plot. The seller was a single-asset owner looking to retire. The buyer was a California-based group looking to expand its portfolio in Southern California. The new owner plans to operate the community itself following cosmetic improvements to the property. The price was not disclosed. Brad …
LAKE OSWEGO, Ore. — Anthem Memory Care, a Lake Oswego-based operator, has promoted Trisha Thomas and Nick Katinos to the position of regional director of operations. They will provide leadership and oversight for 16 communities. Thomas was executive director for Chelsea Place in Aurora, Colorado. She previously was executive director with Brookdale Westland Meridian in Lakewood, Colorado. She brings over 20 years of senior living experience to this position. Katinos most recently served as executive director for Grace Point Place in Oak Lawn, Illinois. Prior to this position, he was …