PHOENIX — Newmark has arranged the $255 million sale of a four-property, Class A seniors housing portfolio in Phoenix and its suburbs. The LivGenerations portfolio totals 546 units comprising independent living, assisted living and memory care. The seller built all four communities — LivGenerations Agritopia, LivGenerations Ahwatukee, LivGenerations Pinnacle Peak and LivGenerations Mayo Boulevard — between 2014 and early 2022. Newmark represented the seller, regional owner-operator and developer Liv Communities, in the transaction. The buyer was not disclosed.
BRIGHTON and NORTHGLENN, Colo. — The Ensign Group Inc. (NASDAQ: ENSG) has acquired the operations of Brighton Care Center, a 108-bed skilled nursing facility located in Brighton, and Malley Transitional Care Center, a 162-bed skilled nursing facility located in Northglenn. These acquisitions are subject to a long-term, triple-net lease. “We are excited about growing in Colorado,” says Barry Port, Ensign’s CEO. “These facilities are a great fit to our existing portfolio and we look forward to the contribution each will have in our operational market and clusters in Colorado.” This …
CARMEL, Ind. — Euson Lindsay Health LLC has acquired The Green House Cottages of Carmel, a 72-bed skilled nursing facility in Carmel, a suburb of Indianapolis. The Green House Cottages of Carmel opened in 2016 and offers short-term rehabilitation, memory care and long-term care. The beds are spread across six buildings in a home-like environment. The buyer will rebrand the facility under its Restoracy brand. The seller and price were not disclosed.
CHICAGO — Referah, a Chicago-based company providing a new referral service for seniors housing communities, has officially launched. “With more than 10,000 baby boomers achieving retirement age every day in America, the demand for senior and assisted living communities is facing a strong growth period for those with solutions anticipating a step ahead on the innovation curve,” says Lesley Durkan, president and CEO of the company. The goal is to cut away the confusion and clutter of senior living searches by employing more and better input by including social interests, …
MYRTLE BEACH, S.C. — SRI Management LLC, in conjunction with ownership partners Compass Living and Bourne Financial Group, have opened Indigo Carolina Forest in Myrtle Beach. Situated on nearly nine acres in the heart of the Carolina Forest, the community features 166 units of independent living, assisted living and memory care. “This community is the second seniors housing development for our company, both poised within the thriving areas seniors want to call home,” says Bob Godard, chief executive officer, Compass Living. The community spans 189,500 square feet.
ST. PAUL, Minn. — CommonBond Communities has started construction of The Lumin, which will provide 60 units of housing for seniors in the Highland Bridge development in Saint Paul. Units will be restricted to people age 55 and older who earn 30 percent or less of the area median income (AMI). A project-based Section 8 subsidy allows residents to pay 30 percent of their income in rent. Seven units will be reserved for formerly homeless seniors. The project is scheduled for completion in fall of 2023. The Lumin is the …
TAVARES, Fla. — Greystone has provided an $11.9 million Fannie Mae Multifamily Affordable Housing (MAH) loan for the acquisition of a senior living community in Tavares, a northwestern suburb of Orlando. Carter King, managing director in Greystone’s Atlanta office, originated the transaction. Hallmark Lakepoint Senior LLC was the borrower. Constructed in 2006, Lake Point Senior Apartments is a 160-unit, LIHTC, age-restricted, three-story apartment complex. The seller and total price were not disclosed. The non-recourse, fixed-rate financing carries a 10-year term and 35-year amortization.
CHICAGO — NewPoint Real Estate Capital LLC has hired Christopher Honn as managing director of seniors housing originations. Based out of Chicago, Honn will work to expand the firm’s seniors housing and healthcare platform, with an emphasis on agency loan solutions. Honn brings more than 35 years of seniors housing and healthcare originations and underwriting experience to NewPoint. He has built several production platforms and leverages a track record of executing for nonprofit and for-profit clients on a national basis. Prior to joining NewPoint, Honn served as a managing director …
TOMBALL, Texas — Castle Lanterra Active Adult, a division of Castle Lanterra, has completed its third major acquisition in the active adult asset class with the purchase of Laurel at Vintage Park in the Houston suburb of Tomball. With this most recent acquisition, the firm has accumulated over $125 million of assets in the active adult sector during 2022. Coastal Ridge sold the asset for an undisclosed price. Built in 2014, Laurel at Vintage Park is a 120-unit residential community strategically positioned next to Vintage Park, a destination for businesses, …
DALLAS — JLL Capital Markets has arranged a $175 million refinancing for a six-property seniors housing portfolio totaling 821 units across the Southeast. The portfolio offers a mix of independent living, assisted living and memory care units. Five of the properties are recently completed and the sixth, a second phase to its adjacent sister property, is currently under construction. The properties are positioned in high-growth markets with strong demographics and forecasted growth in the senior population. The communities are near major retail, entertainment, healthcare and professional centers, as well as …