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Active AdultDevelopmentFinanceNewsNorth Carolina

Ziegler Arranges $32M Financing for BellaAge Hickory Development in North Carolina

by Jeff Shaw

HICKORY, N.C. — Ziegler has arranged $32 million in direct bank revenue bonds through the North Carolina Medical Care Commission for EveryAge, formerly United Church Homes and Services. The borrower is developing a 95-unit independent living rental community that will be known as BellaAge Hickory. Located in downtown Hickory, approximately 15 miles from EveryAge’s Abernethy Laurels community, BellaAge will comprise one- and two-bedroom apartments ranging from 817 to 1,397 square feet with monthly rents ranging from $2,043 to $3,632. The tax-exempt, draw-down, bank-held bonds feature a seven-year commitment that automatically …

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Assisted LivingFinanceNewsOregon

Lument Funds $14.7M Bridge Loan for Arcadia Senior Living in Portland, Oregon

by Jeff Shaw

PORTLAND, Ore. — Lument has provided a $14.7 million proprietary bridge loan to refinance Arcadia Senior Living, a 68-unit assisted living community in Portland. Casey Moore, managing director with Lument in San Diego, led the transaction for Lument. The bridge loan refinances outstanding debt, provides earn-out proceeds and positions Arcadia for a future HUD refinancing. Built in 2019, Avant Senior Housing & Consulting LLC operates the community. Arcadia is owned by a partnership, whose principal, Kelvin Ng, represented the borrower in this transaction.

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NewsOperationsPeople

Buckner Retirement Services Promotes Aaron Hargett to Senior Executive Director

by Jeff Shaw

DALLAS — Buckner Retirement Services, a Dallas-based operator, has promoted Aaron Hargett to the role of senior executive director. Hargett will continue to serve as executive director of Baptist Retirement Community, a Buckner senior living community in San Angelo, Texas, while also supporting the executive directors of five additional Buckner communities. Hargett’s new role will also involve participating in the strategic growth of Buckner, providing input in organizational budget planning and assisting with special projects. Hargett joined the Baptist Retirement Community senior leadership team in 2007. Prior to becoming the …

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FinanceNewsOregon

CBRE Arranges $58M Refinancing for Two Springs Communities in Oregon

by Jeff Shaw

LAKE OSWEGO and WILSONVILLE, Ore. — CBRE National Senior Housing has arranged a $58 million refinancing for The Springs at Carman Oaks and The Springs at Wilsonville on behalf of The Springs Living (TSL). Nestled in the northwestern corner of Clackamas County, The Springs at Carman Oaks is situated in the affluent suburb of Lake Owego, while The Springs at Wilsonville is located in Wilsonville, approximately 17 miles south of downtown Portland. The communities combined offer 294 independent living, assisted living and memory care units. Aron Will, Tim Root and …

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Assisted LivingDevelopmentNewsOregon

Ryan Cos., Cogir, Harrison Street to Build 107-Unit Community in Tigard, Oregon

by Jeff Shaw

TIGARD, Ore. — Ryan Companies US Inc., Cogir Senior Living and Harrison Street have formed a joint venture to build Cogir of Tigard, a 107-unit seniors housing community in Tigard, approximately 10 miles southwest of Portland. The joint venture has already closed on financing and started construction of the high-end community. The Tigard market area’s senior population is expected to grow by nearly 28 percent over the next five years, according to ESRI. Cogir of Tigard is Ryan’s first senior living project in Oregon. The community will total 119,506 square …

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AcquisitionsFinanceNewsOklahomaSkilled Nursing

Lument Arranges $10.7M Acquisition Loan for Bellevue Health & Rehabilitation in Oklahoma City

by Jeff Shaw

OKLAHOMA CITY — Lument has arranged a $10.7 million loan to facilitate the acquisition of Bellevue Health & Rehabilitation, a 119-unit, 150-bed skilled nursing facility (SNF) in Oklahoma City. Bill Wilson, managing director with Lument in Kansas, led the transaction for Lument. To provide funding for the acquisition, Wilson tapped Lument’s debt syndications team, led by Steve McGee and Sangjin Na, to place the loan with a community bank. Proceeds from the loan were utilized by the long-time operator to acquire 100% ownership of the facility. Prior to the acquisition, …

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Company NewsNewsPeople

Silverstone Senior Living Appoints Tami Cumings as Chief Operating Officer

by Jeff Shaw

DALLAS — Silverstone Senior Living has appointed Tami Cumings as chief operating officer. In this newly created position, Cumings will oversee asset management, property operations and sales and marketing for the company’s growing senior housing portfolio. With more than 25 years of executive-level experience in senior living, Cumings was most recently vice president of Caddis, where she oversaw the growth and operational relationships for the Heartis Senior Living brand. Prior to Caddis, she held executive-level positions at Arbor Co., Sunrise Senior Living, US Memory Care, A Place for Mom and …

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Active AdultFeaturesNews

Residents Share Insightful Firsthand Accounts of Life in Active Adult Communities

by Jeff Shaw

DALLAS — Aging is something that happens to all of us physically, but according to some residents at active adult communities in the Dallas-Fort Worth (DFW) area, the psychological and emotional difficulties of growing older are easier to bear in the company of others. Operators of this asset class are making this possible by delivering products and services that reflect the name “active adult.” Shared fitness classes, walking groups, book clubs, card games, communal gardening and organized shopping trips are but a few of the ways in which active adult …

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CaliforniaFinanceNews

Walton Street Arranges $59.2M Refinancing for Watermark at Almaden in San Jose

by Jeff Shaw

SAN JOSE, Calif. — An affiliate of Walton Street Capital has originated a $59.2 million loan to refinance debt on Watermark at Almaden, a 200-unit seniors housing community in San Jose. The borrower is a partnership between Alliance Residential and Affinius Capital. Delivered in late 2020, the property is currently in lease-up. Units come in studio, one-bedroom, two-bedroom and companion floorplans, and the community features nearly 70,000 square feet of amenity space. The type of care offered was not disclosed.

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FinanceNewsWashington

Cushman & Wakefield, Greystone Close $14M Refinancing for Kōz on Weaver Road in Snohomish, Washington

by Jeff Shaw

SNOHOMISH, Wash. — Cushman & Wakefield and Greystone jointly announced the firms have arranged and closed, respectively, the refinance of Kōz on Weaver Road, a 100-unit seniors housing community in Snohomish, approximately 30 miles northeast of Seattle. The property was recently completed in 2020. Cushman & Wakefield served as the exclusive advisor to an affiliate of Kōz Development LLC in arranging approximately $14 million of financing for the multifamily asset. Greystone provided the Fannie Mae DUS financing was provided by Greystone. A Cushman & Wakefield Equity, Debt & Structured Finance …

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