DOYLESTOWN, Pa. — Walker & Dunlop Investment Sales has arranged the sale of Mercer Hill at Doylestown, a seniors housing community in Doylestown, approximately 30 miles north of Philadelphia. The property features 146 units of independent living, assisted living and memory care. It was constructed in 2022. The buyer was a public healthcare REIT. The seller and price were not disclosed. Joshua Jandris, Brett Gardner and Tom Falkenberg led the Walker & Dunlop team.
DALLAS — Lifespace Communities, a Dallas-based owner-operator, has hired Heather Julian as chief marketing officer. Throughout her career, Julian has led marketing strategies for startups and longstanding industry leaders in the hospitality, construction, finance, tech and retail sectors. Most recently, she served as chief marketing officer at BorrowWorks, a specialized financial technology solutions provider. Julian graduated magna cum laude with a bachelor’s degree in economics and finance from Arkansas Tech University.
DELLWOOD, Mo. — KAI has completed construction of Urban League Senior Living Center in Dellwood, a northern suburb of St. Louis. The $10 million project stands on the former site of an AutoZone that was destroyed during the 2014 protests following the shooting of Michael Brown. The development was funded through a combination of federal, state and local grants, along with in-kind donations. The facility includes 44 resident units (40 one-bed units and four two-bed units), plus a community room on the main level. The community is already fully leased. …
SAN CLEMENTE, Calif. — CareTrust REIT Inc. (NYSE: CTRE), a publicly traded healthcare REIT based in San Clemente, funded approximately $378 million in new investments last week. The transactions include the funding of a $260 million senior mortgage loan and a $43 million preferred equity investment in connection with the borrower’s acquisition of a 37-facility skilled nursing and seniors housing portfolio located in the Pacific Northwest. The $378 million in investments was funded using cash on hand. The portfolio consists of 2,713 operating beds/units with 21 skilled nursing facilities and …
LA MARQUE, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of a 120-bed skilled nursing facility in La Marque, a Gulf Coast city southeast of Houston. The community totals approximately 45,628 square feet on 4.3 acres of land. The seller is a local, Texas-based family partnership, which is selling its only seniors housing community. The buyer owns and operates several skilled nursing facilities in Texas. The price was not disclosed. Matthew Alley of SLIB handled the transaction.
JOHNS CREEK, Ga. — Marcus & Associates and Buckley Shuler Properties have arranged the sale of St. Ives Memory Care, a 38-unit standalone memory care community in the Atlanta suburb of Johns Creek. Regional owner-operator Solinity was the buyer. The seller and price were not disclosed. The property experienced operational setbacks during the COVID-19 pandemic, as well as complications from a winter freeze that caused flooding and insurance issues.Marcus Van Ameringen of Marcus & Associates handled the transaction.
EAST NORRITON, Pa. — Ziegler has arranged $6.4 million in financing for the acquisition of a 114-unit assisted living and memory care community in East Norriton, a suburb northwest of Philadelphia. The buyer is Comprehensive Care Capital, which plans to rebrand the property from Brandywine Living at Senior Suites to Silver Springs at East Norriton. Christopher Utz of Ziegler Investment Banking arranged and negotiated the transaction. Cura Health will oversee daily operations.
SEABROOK, Texas — Green Courte Partners LLC, a private equity real estate investment firm, has acquired Chesapeake Bay, an active adult community with 348 apartments and cottages in Seabrook, just south of Houston. The acquisition was made through the buyer’s fifth investment fund, Green Courte Real Estate Partners V. The seller and price were not disclosed. The acquisition increases Green Courte’s national senior living portfolio to 19 communities containing approximately 3,100 units. The firm’s wholly owned operating platform, True Connection Communities, manages the properties. “The Houston market has demonstrated robust …
EAGLE, Idaho — The Pennant Group Inc. (NASDAQ: PNTG), the Eagle-based parent company of the Pennant group of affiliated home health, hospice and senior living companies, has increased its credit facility by $100 million to an aggregate of $250 million. The borrowings are supported by a lending consortium arranged by Truist Securities. The new facility expires on July 31, 2029. “This amended facility further strengthens our balance sheet, and together with our strong operating cash flow, creates significant dry powder for future growth,” says Brent Guerisoli, Pennant’s CEO. In addition …
NEW YORK CITY — Ziegler has arranged a $25 million bridge financing for RiverSpring Living’s River’s Edge project, a continuing care retirement community (CCRC) development in New York City. RiverSpring Living owns and operates Hebrew Home at Riverdale, a long-term care community founded more than 105 years ago, located on a 32-acre campus overlooking the Hudson River in the Riverdale section of Bronx County. RiverSpring Living enlisted Chicago-based Integrated Development II as its development consultant for the River’s Edge project, and Ziegler as its exclusive financial advisor. The development will …
