GEORGIA — Capital Funding Group (CFG) has provided $22.4 million in bridge-to-HUD financing for the acquisition of three skilled nursing facilities. The facilities, which are located in Georgia, total 338 beds. Details on the buyer, seller, price and locations were not disclosed. James Zabel originated the transaction.
COLUMBIA, Md. — Maxim Healthcare Services has hired Megan Morrissey as vice president of marketing. In this role, Morrissey will oversee all aspects of the company’s marketing and brand management strategies and campaigns. With two decades of experience in marketing and communications, Morrissey has successfully launched data-driven strategies, implemented campaigns and created digital experiences for consumers. Most recently, she served as vice president of marketing for the Thule Group. Maxim is a Columbia-based provider of skilled nursing, personal care, respite care, behavioral care and physical rehabilitation.
WINCHESTER, Va. — Ziegler has arranged $52.5 million in bond financing for Shenandoah Valley Westminster-Canterbury (SVWC). The continuing care retirement community is located in Winchester, approximately 70 miles west of the Washington, D.C. metro area. SVWC was founded in 1982 and provides housing, healthcare and other services to nearly 400 residents on its 87-acre campus through the operation of 217 independent living units (164 apartments and 53 cottages), 48 assisted living units, 12 memory care units and 51 skilled nursing beds. SVWC is completing an independent living villa apartment expansion …
IRVINE, Calif. — MBK Real Estate LLC (MRE), an Irvine-based developer of seniors housing, multifamily and industrial real estate, has appointed Kenji Iwai as the company’s next chairman of the board and president. Iwai succeeds Katsuo “Katsu” Yamanaka, who has led the company’s growth, including its entry into the logistics market, since 2017. Iwai, who joined MRE’s parent company Mitsui & Co. Ltd. in 1997, will be responsible for the overall management of MRE. He will oversee the development and execution of the company’s strategic initiatives and goals, including its …
MONTREAL and QUEBEC CITY — Welltower (NYSE: WELL), the largest seniors housing owner in the United States, has acquired 12 communities totaling 4,173 units in the Quebec province of Canada. The price was CA$885 million, which equates to US$639.2 million based on this morning’s exchange rate. Welltower says the price is a more than 40 percent discount to replacement cost. The communities are an average of eight years old and are highly concentrated in the province’s two major markets of Montreal and Quebec City. Cogir, a current Welltower partner and …
DENVER AND MILWAUKEE — Two healthcare REITs, Denver-based Healthpeak Properties (NYSE: PEAK) and Milwaukee-based Physicians Realty Trust (NYSE: DOC), have agreed to enter into an all-stock merger agreement that is valued at roughly $21 billion. Under the terms of the agreement, each share of Physicians Realty Trust common stock will be converted into 0.674 of a share of newly issued Healthpeak common stock. The combined entity will feature a portfolio of roughly 52 million square feet of healthcare assets. On a pro-forma basis, Healthpeak and Physicians Realty Trust shareholders will …
CLEVELAND — KeyBank Community Development Lending and Investment (CDLI) has provided $11.3 million for 9 percent tax credit equity to finance the construction of Garrett Square Apartments, a 49-unit affordable seniors housing project located in the Glenville neighborhood of Cleveland. KeyBank will provide a $9 million construction loan and a $2.3 million permanent loan. Additional permanent financing sources include secondary soft loans of $1.7 million provided through the City of Cleveland’s American Rescue Plan Act, $900,000 from City Home, and $450,000 from the County ERA fund. Garrett Square will be …
HOUSTON — Buckner Retirement Services has named Amy Shields as executive director for Parkway Place, a seniors housing community in Houston. Shields has spent the entirety of her 25-year career in senior living serving in the Houston area. Most recently, she held the position of CEO at St. Dominic Village, where she was responsible for the overall operations of the continuing care community. Prior to that, she served as the licensed facility administrator for Sava Senior Care for 14 years. Shields also holds a bachelor’s degree in social work from …
SPRING, Texas — JLL Capital Markets has arranged a $28 million senior mortgage for The Landing at Augusta Woods, a 148-unit seniors housing community in Spring. JLL represented Harmony Communities to secure the four-year, fixed-to-floating-rate loan from a life insurance company to refinance an existing construction loan and fund additional expansion of the community. The community comprises a 120-unit apartment-style complex that provides independent living, assisted living and memory care, and 28 to-be-built independent living duplex-style cottage units. Spring is located just outside of The Woodlands, which is one of …
DUBLIN — The U.S. assisted living market is experiencing robust growth, driven by several factors including the increasing number of baby boomers, a rising aging population, higher healthcare expenditure, and a growing preference for independent living. The market is currently characterized by substantial activity, with a promising outlook for the future. A recent report from ResearchAndMarkets.com valued the U.S. assisted living market at $97.6 billion in 2022 and predicted it will reach $133.4 billion by 2029 with a compound annual growth rate (CAGR) of 5.35 percent. The report — titled …