BALTIMORE — The M&T Realty Capital Corp. seniors housing team has closed a total of $247 million in financing transactions to date this year. The transactions include: $52.5 million Fannie Mae loan for a 191-unit seniors housing asset in the Nashville, Tennessee MSA. $38.4 million Fannie Mae loan for a 128-unit independent living building in the Sarasota, Florida MSA. $49.3 million Freddie Mac loan for a 179-unit seniors housing asset in Virginia. $5.3 million FHA 232/223(f) loan for a 105-bed assisted living facility in Tacoma, Washington. $101.5 million bridge-to-agency loan …
WASHINGTON — Capital Funding Group (CFG) has provided $3.3 million in bridge-to-HUD financing for the acquisition of two skilled nursing facilities. The facilities, which are located in Washington, feature 108 beds. Further details on the location and borrower were not disclosed. Tim Eberhardt and Ava Julio originated the transaction.
CHICAGO — Partner Valuation Advisors, a Chicago-based national commercial real estate valuation advisory firm, has hired Brian Chandler as senior managing director. Based in Raleigh, North Carolina, Chandler will lead the company’s seniors housing practice, focused on conducting appraisals, market studies, large portfolio engagements and consulting assignments for properties on a national basis. He will also be a member of the firm’s national leadership team. Since launching in September 2022, Partner Valuation Advisors has completed more than 700 valuations across 40 states with an aggregate commercial real estate value exceeding …
NEWTON, Mass. — Office Properties Income Trust (NASDAQ: OPI) has entered into a definitive merger agreement whereby the office REIT will acquire all the outstanding common shares of Diversified Healthcare Trust (NASDAQ: DHC), a REIT that owns properties in the medical office, life sciences and seniors housing sectors. The combined company will have approximately $12.4 billion of total gross assets under management, representing 539 properties across 40 states and Washington, D.C. The portfolio comprises about 264 seniors housing communities, 10 triple-net-leased wellness centers and 265 medical office, traditional office and …
BOUNTIFUL, Utah — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 145-unit independent living, assisted living and memory care community in Bountiful, approximately 10 miles north of Salt Lake City. The facility was built in 1978 expanded in 1999. The property totals 124,673 square feet on approximately 2.4 acres of land. The buyer was a California-based private equity group partnering with a Salt Lake City-based management company. They plan to invest heavily in remodeling the community and improving the overall performance. Vince Viverito and Brad Clousing of …
BURLESON, Texas, and OVERLAND PARK, Kan. — CareTrust REIT Inc. (NYSE: CTRE) has acquired two skilled nursing facilities: AdventHealth Care Center Burleson, a 178-bed facility in Burleson, and AdventHealth Care Center Overland Park, a 102-bed facility in Overland Park, Kansas. The Overland Park facility represents CareTrust’s entry into the Kansas market. Blueprint Healthcare Real Estate Advisors represented the seller, AdventHealth, in the transaction. The acquisition of the Burleson facility will be an add-on to CareTrust’s existing lease with Austin, Texas-based operator Momentum Skilled Services, which will replace the outgoing operator. …
TEXAS — VIUM Capital has arranged a $10.8 million bridge-to-HUD loan to recapitalize two skilled nursing facilities. The properties, both located in Texas, total 136 beds. Further details were not disclosed.
LAKE OSWEGO, Ore. — Anthem Memory Care, a Lake Oswego-based operator, has named Whitney Lane as vice president of clinical services. In this position, she is responsible for providing leadership and vision for Anthem Memory Care’s 21 communities. Lane previously was chief operating officer for Watercrest Senior Living. She has also served as divisional director of health and wellness for Senior Lifestyle Corp. Throughout her 18-year career in healthcare, Lane has experience within operations, sales, financials, new development, acquisitions, human resources and training in independent living, assisted living and memory …
ANNAPOLIS, Md. — The private-pay seniors housing occupancy rate increased 30 basis points from 82.9 percent in the fourth quarter of 2022 to 83.2 percent in the first quarter of 2023, according to data from NIC MAP Vision released by the National Investment Center for Seniors Housing & Care (NIC). NIC MAP Vision is a product of the National Investment Center for Seniors Housing & Care (NIC), an Annapolis-based nonprofit firm that tracks industry data gathered from 31 primary metropolitan markets. Private-pay seniors housing comprises independent living, assisted living and …
CRESTVIEW, Fla. — Housing Trust Group (HTG) and AM Affordable Housing, a non-profit founded by NBA Hall of Famer and Miami Heat legend Alonzo Mourning, have started construction of Princeton Grove, a $23.5 million affordable seniors housing community in the Florida Panhandle city of Crestview. Apartments at Princeton Grove will be reserved for income-qualifying residents who earn at or below 22, 30 and 60 percent of area median income (AMI), with rents ranging from $363 to $1,188 per month. In addition, the developer has committed a minimum of five apartments …