INDIANA — Evans Senior Investments (ESI) has arranged the sale of a 100-bed skilled nursing facility in Indiana. A regional owner-operator sold the property to a regional operator with a presence in Indiana. The price and further details on the property’s name and location were not disclosed. At the time of marketing, the community posted $10.2 million in total revenue and was 71 percent occupied. The community participated in the Upper Payment Limit program (UPL) with a local hospital. The high revenue generation of the community contributed to an above-average …
OREGON — VIUM Capital has provided an $11 million bridge-to-HUD loan to Ohana Ventures. The borrower will use the funds to purchase an assisted living community in Oregon. Further details were not disclosed.
ATLANTA — After a quarter characterized by rising costs of living and mounting inflation, “recession” is the word on everybody’s lips. But Roger Tutterow, professor of economics at Kennesaw State University in Georgia, states that “it is not a foregone conclusion that we’re in a recession today or that we’ll get there in the next several months.” The official definition of a recession is not two consecutive quarters of negative growth in gross domestic product (GDP). “Most of the time it works out that way,” Tutterow said, “but the technical …
GRANBURY, Texas — JLL Capital Markets has arranged the sale of Quail Park of Granbury, a 75-unit independent living, assisted living and memory care community in Granbury, a growing suburb of Dallas-Fort Worth. JLL represented the seller, Living Care Lifestyles, in the sale to Lloyd Jones LLC. Lloyd Jones Senior Living will operate the community going forward, under the name AVIVA Granbury. The sales price was not disclosed. The community comprises two buildings, one offering independent living (41 units) and assisted living (15 units) and one dedicated to memory care …
WILMINGTON, Del. — American Eagle Delaware Holding Co. LLC and its subsidiaries, collectively known as Eagle Senior Living, have completed a comprehensive financial reorganization and exited the Chapter 11 bankruptcy process. The company has implemented its plan of reorganization, approved by the U.S. Bankruptcy Court for the District of Delaware. Eagle Senior Living has significantly reduced its debt service and enhanced its liquidity position, creating a stronger financial foundation, according to the Wilmington-based company. As part of the Chapter 11 process, Eagle Senior Living executed a transaction whereby Atlantis Senior …
FLORIDA — VIUM Capital has provided $7.7 million in bridge-to-HUD financing for 428 Healthcare. The funds refinance existing debt on a 50-bed assisted living community in Florida. The borrower acquired the property in 2019 and was looking for a cash-out refinancing. Further details were not disclosed.
GARDEN GROVE, Calif. — The REMM Group Multifamily Management Co. has taken over operations at Valley View Villas Senior Apartment Homes in the Orange County city of Garden Grove. The luxury seniors housing community features 178 units and joins three other properties that The REMM Group manages. “We have an exciting renovation of the beautiful property underway,” says Sara D’Elia, CEO of The REMM Group. “The common areas are being enhanced with a new flooring, a fresh paint palette, furniture and lighting. A full exterior painting is underway and in …
NEW YORK CITY — Greystone Monticello LLC has hired Karina Davydov as senior vice president, asset-based lending, healthcare originations. Formed in 2021, the Greystone Monticello joint venture provides a wide range of bridge financing options and asset-based lending in the multifamily and seniors housing industries. Davydov brings over 20 years of healthcare lending and banking experience to the company, including asset-based lending with a focus on the healthcare industry. She most recently worked at SLR Healthcare ABL. Davydov will be based out of Chicago, working with Kim Gordon, head of …
BETHESDA, Md. — Experience Senior Living, a seniors housing developer, has unveiled plans for The Reserve at Strathmore Square. The project will be part of Strathmore Square, a planned arts-centric mixed-use community located in north Bethesda above the Grosvenor-Strathmore Red Line Metro station and adjacent to the Strathmore Music Center. The seniors housing community will rise 26 stories and span 300,000 square feet, featuring 240 units of independent living, assisted living and memory care. Experience plans to break ground on the project in the fourth quarter of 2023. Amenities at …
FOLSOM, Calif. — Revel Communities, a division of The Wolff Company representing a portfolio of independent living communities, has opened its newest community, Revel Folsom. Revel Folsom is the latest expansion for Revel across the Western U.S. and will join Revel Palm Desert and Revel Lodi as the brand’s third independent living community in California in two years. Located 35 miles outside of Sacramento, Revel Folsom will feature views of the foothills of the Sierra Nevada Mountains. The size and number of units were not disclosed. Alicia Rist is the …