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JLL Hires Jay Wagner, Richard Swartz, Aaron Rosenzweig to Lead National Seniors Housing Capital Markets Team

by Jeff Shaw

BOSTON and SAN DIEGO — JLL Capital Markets has hired three seniors housing experts within its national seniors housing platform. Jay Wagner and Richard Swartz, who will co-lead the team, and Aaron Rosenzweig will focus on investment sales, joint venture equity and financing transactions throughout the United States. All three were hired as senior managing directors. Wagner, Swartz and Rosenzweig join JLL from a full-service capital markets provider where Wagner and Swartz were co-heads and vice chairmen of the firm’s seniors housing group. Rosenzweig served as an executive director within …

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Active AdultDevelopmentIllinoisNews

Focus Completes Construction of Everleigh Active Adult Community in Vernon Hills, Illinois

by Jeff Shaw

VERNON HILLS, Ill. — Acting as general contractor, Focus has completed construction of Everleigh, an active adult community in Vernon Hills, a northern suburb of Chicago. Greystar is the property’s developer. Everleigh Vernon Hills features 173 apartments ranging in size from 567 to 1,373 square feet, as well as seven duplex cottages. Monthly rents start at $1,800. Meeks + Partners designed the four-story building. Greystar launched the Everleigh by Greystar active adult brand in 2017 and now has locations in eight states.

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Assisted LivingFinanceIllinoisNews

Greystone Provides $35.7M in HUD Financing for Two Supportive Living Facilities in Illinois

by Jeff Shaw

ILLINOIS — Greystone has provided $35.7 million in HUD-insured loans to refinance two supportive living facilities in Illinois. The two properties consist of a total of 272 units between the two buildings, built in 2004 and 2005. Further details on the properties were not disclosed. Eric Rosenstock originated the financing on behalf of Grand Lifestyles. The non-recourse loans both carry 35-year terms, full-term amortization and fixed rates. Illinois developed the Supportive Living Program as an alternative to nursing home care for low-income older persons requiring mid-range care needs as opposed …

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AcquisitionsIndianaNewsOhio

Blueprint Arranges Investor Succession for 11-Property Midwest Portfolio

by Jeff Shaw

OHIO and INDIANA — Blueprint Healthcare Real Estate Advisors advised on the execution of an investor succession plan, involving the sale of an 11-asset, 1,400-unit portfolio in the Midwest. The portfolio, geographically clustered in Indiana and Ohio, featured run rate total revenue and EBITDAR of approximately $56 million and $12 million, respectively, at closing. The buyer was a company with existing Midwest expertise and infrastructure. No further details were disclosed.

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AcquisitionsAssisted LivingNewsOhio

SLIB Brokers Sale of 81-Unit Landing of Long Cove in Mason, Ohio

by Jeff Shaw

MASON, Ohio — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Landing of Long Cove, an 81-unit assisted living and memory care community in Mason, approximately 25 miles northeast of Cincinnati. Built in 2011, the community features 61 assisted living units and 20 memory care units. The seller sought to divest this asset to focus attention on communities that more closely align with its current footprint. The buyer was looking to add to its existing footprint throughout the Midwest strategically. The price was not disclosed. Daniel Geraghty …

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NewsPeopleWashington

Emerald Communities Hires Denisa Feddersen as Corporate Controller

by Jeff Shaw

REDMOND, Wash. — Emerald Communities, a Redmond-based nonprofit operator, has hired Denisa Feddersen as corporate controller. Feddersen will oversee all aspects of accounting including financial reporting, audits, actuarial studies, payroll and financial analysis. She will ensure financial management for Emerald Communities, which operates the Emerald Heights and Heron’s Key continuing care retirement communities (CCRCs). Feddersen comes to Emerald Communities with a background in senior living. She previously worked as the vice president of finance and corporate controller at a senior living community based in California. She also has experience as …

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Assisted LivingDevelopmentNewsVirginia

Sunrise Senior Living Opens Sunrise of McLean Village in Metro D.C.

by Jeff Shaw

MCLEAN, Va. — Sunrise Senior Living has opened Sunrise of McLean Village, a seniors housing community located at 1515 Chain Bridge Road in McLean, roughly 15 miles outside Washington, D.C. Comprising 90,000 square feet, the three-story property has the capacity for more than 120 residents and offers assisted living and memory care accommodations. Amenities at the community include a dining room and bistro with a bar, fitness center, library, two sunrooms, an activity room, hair and nail salon and a massage room. The property also features five covered porches, a …

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AcquisitionsNews

SLIB Arranges Sale of 130-Unit Portfolio in Rocky Mountains

by Jeff Shaw

GLEN ELLYN, Ill. — Senior Living Investment Brokerage (SLIB), a Glen Ellyn-based broker, has arranged the sales of two seniors housing communities in the Rocky Mountains states. The facilities total 130 units and were built in 1996 and 1999. The properties are 32,897 and 32,904 square feet, and are situated on approximately 1.81 and 4.03 acres of land. The buyer is a large, regional owner-operator based out of California with over 30 communities nationwide. The new owner will invest money in capital improvements and continuing the strong operational performance. The …

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AcquisitionsFinanceNew YorkNewsSkilled Nursing

CFG Provides $32.9M Acquisition Loan for Skilled Nursing Facility in New York State

by Jeff Shaw

NEW YORK STATE — Capital Funding Group (CFG) has provided $32.9 million in bridge-to-HUD financing for the acquisition of a skilled nursing facility. The facility, which is located in New York, supports 200 beds. Further details were not disclosed. Andrew Jones originated the transaction.

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AcquisitionsAssisted LivingNewsTexas

Blueprint Negotiates Sale of 30-Unit Community in San Angelo, Texas

by Jeff Shaw

SAN ANGELO, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 30-unit assisted living and memory care community in the West Texas city of San Angelo. A publicly traded REIT sold the asset, which was built in 2012. The two adjacent buildings sit on 2.8 acres, including room for future expansion. As the newest seniors housing community in San Angelo, the property historically generated strong operational performance with occupancies exceeding 85 percent in 2019, while generating cash flows of $1.5 million at a 34 percent margin …

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