SHERMAN, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Homestead of Sherman, a 132-bed skilled nursing facility in Sherman, approximately 65 miles north of Dallas. The community totals approximately 39,211 square feet on a five-acre plot. A private partnership out of Dallas sold the community to an owner-operator from Fort Worth with 20 existing properties in the state. The price was not disclosed. Matthew Alley and Ryan Saul of SLIB handled the transaction.
NAPLES, Fla. — Live Oak Bank and Renasant Bank have provided an undisclosed amount of financing for construction of a 158-unit assisted living and memory care community in Naples. The borrower is a joint venture between investment management firm Heitman and NexCore Group. Experience Senior Living, NexCore’s operating subsidiary, will manage the property.
DAYTON, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of a portfolio of properties in Dayton. The assets included a 40-unit active adult campus, a 12,000-square-foot office builing and a 5.7 acre land parcel. The seller elected to divest the three assets to recycle capital and strategically downsize its portfolio to focus on core business. The buyer was a private equity investor and operator looking to expand through aggressive acquisition.
NASHVILLE, Tenn. — Uniguest, a Nashville-based digital engagement technology for multiple industries including seniors housing, has promoted Matt Goche to chief executive officer from his role as chief operating officer, taking over responsibility from Jeff Hiscox following a six-year tenure. Hiscox will move into the chairman role on Uniguest’s board of directors and act as a strategic advisor to the Uniguest executive team, while Goche steps up to take responsibility for the day-to-day operations of the company and driving revenue growth. Supporting Goche in his new role, Mike Rethage joins …
NAPLES, Fla. — Grandbridge Real Estate Capital’s seniors housing investment sales team has arranged the $81 million sale of The Arlington at Naples. The 298-unit continuing care retirement community is located on 39 acres in the Lely Resort master-planned community in Naples. It opened in 2015. The community offers 47 independent living estate homes, 128 independent living apartments, 42 assisted living units, 37 memory care units and 44 skilled nursing units. Prior to the sale, The Arlington was operating under a forbearance agreement. The Grandbridge team, led by Dave Kliewer …
WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a Westlake Village-based real estate investment trust that primarily invests in seniors housing and healthcare properties, has made a $128 million investment in 12 assisted living/memory care properties totaling 937 beds and 568 units across North Carolina. An existing LTC partner operates all the communities. The majority of LTC’s $128 million investment is structured as a joint venture and a minor portion is structured as a senior mortgage loan secured by one property. The investment was funded from approximately $99 million …
JACKSONVILLE, Fla. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Cathedral Care, a 129-bed skilled nursing facility in Jacksonville. The seller was looking to divest the standalone community. A national owner with operations in Florida acquired the asset for an undisclosed price. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.
UTAH — Live Oak Bank has arranged a $16.1 million loan for a Utah-based owner and operator of nursing homes. Berkadia Commercial Mortgage’s Seniors Housing & Healthcare Group assisted on the transaction. This financing provided bridge-to-HUD debt for a 38-bed transitional care skilled nursing facility that opened in 2019 and caters to individuals in need of short-term rehabilitation.
LOS ANGELES — Front Porch Communities and Services, a Los Angeles-based seniors housing operator, has hired Sean Kelly as the organization’s new chief executive officer, effective March 6. Kelly succeeds John Woodward who has served as CEO for more than seven years and earlier this year announced his intended retirement. With 19 senior living and 32 affordable housing communities, programs serving 10,000 people across the country and 3,000 employees, Front Porch is one of the nation’s largest nonprofit senior living providers. Kelly comes to Front Porch from The Kendal Corp., …
COLUMBIA, S.C. — Greystone has arranged $27.1 million in financing for Merrill Gardens at Columbia, a seniors housing community in Columbia. The regional bank loan for the 120-unit independent living and assisted living community was executed as a floating-rate financing carrying a five-year term and 30-year amortization. The loan featured three years of interest-only payments and a mid-200 basis point loan spread. Tyler Armstrong, managing director at Greystone, worked with the client in placing the bank loan for AEW Capital Management and Merrill Gardens.
