LAKEWOOD, Colo. — Ziegler and M&T Realty Capital Corp. have acted as financial advisor in a $19.5 million Fannie Mae financing on behalf of Essex Communities. The transaction will refinance the existing debt on Carmel Oaks, an age-restricted independent living community in Lakewood. The 10-year, fixed-rate loan was structured at a 75 percent loan-to-value ratio with five years of interest-only payments followed by a 30-year amortization. The loan also carried a declining prepayment schedule, which will provide the borrower with additional flexibility in future years. In addition to refinancing the …
HAINES CITY and LAKE WALES, Fla. — Innovation Senior Living, a middle-market operator, has acquired two Savannah Court-branded communities in Florida. The properties include Savannah Court of Haines City in Haines City and Savannah Court of Lake Wales in Lake Wales. Both municipalities are located southwest of Orlando and east of Tampa. The buyer has changed the communities’ names to The Club at Haines City and The Club at Lake Wales. The seller and price were not disclosed. This represents Innovation’s third and fourth owned and operated communities. The company …
FLORIDA — VIUM Capital has provided a $5.4 million acquisition loan for a 60-bed skilled nursing facility in Florida. Elevation Group was the borrower, and the total purchase price was $6.8 million. The seller, name of the property and location of the property were not disclosed.
ANNAPOLIS, Md. — The national occupancy rate for private-pay seniors housing increased 100 basis points from 81.2 percent in the second quarter of 2022 to 82.2 percent in the third quarter, according to NIC MAP Vision. Occupancy is up 430 basis points from a pandemic low of 77.9 percent in the second quarter of 2021. 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 …
EDMONDS, Wash. — Anthology Senior Living has unveiled plans for Anthology of Edmonds, a 127-unit seniors housing community in Edmonds, a northern suburb of Seattle. The community totals 162,872 square feet across six floors and is Anthology’s first community to exclusively offer independent living. This project marks the sixth senior housing development that Anthology has started in the past 12 months. Harrison Street is an investment partner on the project. According to a recent report by the U.S. Census Bureau, almost 15 percent of the Snohomish County population has already …
RALEIGH, N.C. — Liberty Senior Living has broken ground on Hayes Barton Place, a seniors housing community in Raleigh. Scheduled to open in 2024, the property is just three miles northwest of the heart of downtown Raleigh. A continuing care retirement community, Hayes Barton Place will feature an undisclosed number of independent living, assisted living, memory care, skilled nursing and rehabilitation units. Project partners include Grubb Ventures, Williams Realty and Building CO., Brasfield & Gorrie, WithersRavenel, Clancy and Theys Co., LS3P and Liggett Design Group.
FLORIDA — VIUM Capital has provided a $61.6 million loan for the acquisition of a three-property skilled nursing portfolio in Northeast Florida. The portfolio totals 357 beds. The financing features a potential earn-out of $6.7 million. Further details were not disclosed.
DENVER — Healthpeak Properties Inc. (NYSE: PEAK), a Denver-based REIT, has promoted Scott Brinker from chief investment officer to chief executive officer and elected him to the company’s board of directors. Brinker replaces Tom Herzog, “who mutually agreed with the board to step down as chief executive officer and from the board to pursue other endeavors,” according to a press release from Healthpeak. Healthpeak also announced that Scott Bohn, executive vice president and co-head of life sciences, was appointed chief development officer and Adam Mabry, previously senior vice president of …
RALEIGH, N.C. — KeyBank Real Estate Capital has provided a $53.1 million Fannie Mae loan from Fannie Mae for Waltonwood Lake Boone, a 181-unit seniors housing community in Raleigh. The property offers independent living, assisted living and memory care units. Charlie Shoop of KeyBank arranged the 10-year, fixed-rate loan on behalf of the borrower, Singh Development, a real estate developer with offices in Raleigh and West Bloomfield, Mich. The financing recapitalizes a loan that KeyBank’s Healthcare Group originated in 2019, a year after Waltonwood Lake Boone opened.
PACIFIC, Wash. — Preservation Equity Fund Advisors (PEF Advisors) has purchased Rainier Vista, an affordable seniors housing property in Pacific. Terms of the transaction were not released. Originally developed in 2003 with low-income housing tax credits, Rainier Vista offers one three-story building with 75 one- and two-bedroom units for affordable housing for seniors age 55 and older. The community includes 20 units designated for residents earning 30 percent of area median income (AMI), 25 units for residents at 50 percent AMI and five units for residents at 60 percent AMI. …