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AcquisitionsNewsPennsylvaniaSkilled Nursing

Blueprint Brokers Sale of 180-Bed Skilled Nursing Facility in West Chester, Pennsylvania

by Jeff Shaw

WEST CHESTER, Pa. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 180-bed skilled nursing facility in West Chester, approximately 25 miles west of Philadelphia. Blueprint’s marketing efforts and financial projections highlighted the state’s July 2022 announcement to significantly increase Medicaid reimbursements in 2023, with over $500 million allocated to long-term care facilities. Tryko was the buyer and will rebrand the asset as West Chester Rehabilitation & Healthcare Center. The seller and price were not disclosed.

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AcquisitionsCompany NewsNewsTechnology

Sentrics Buys Connected Living Software Platform

by Jeff Shaw

QUINCY, Mass — Sentrics has acquired Connected Living, a seniors housing resident engagement platform based in Quincy. The platform includes a centralized content management system that helps operators share messages with whom they want, when they want and how it is best received easily and quickly, according to Sentrics. The Connected Living technology will become part of the Sentrics Engage360 suite. Brian McWade, the president of Connected Living will become the chief product officer at Sentrics, responsible for executing the integrated engagement strategy. “Residents who stay socially engaged are more …

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AcquisitionsAffordable HousingCaliforniaNews

Joint Venture Acquires 165-Unit Woodbridge Manor Affordable Community in Irvine, California

by Jeff Shaw

IRVINE, Calif. —Asland Capital Partners, Fairstead, iimpact Capital, Nuveen Real Estate and Innovative Housing Opportunities (IHO) have acquired Woodbridge Manor, a 165-unit affordable housing community for seniors in Irvine. Woodbridge Manor apartments are available to seniors earning up to 60 percent of the area median income (AMI), or a maximum of $59,040 per year. The complex comprises a trio of three-story buildings that were built from 1981 to 2003, all of which underwent a major rehabilitation in 2006. The community was purpose built as affordable housing for residents at least …

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AcquisitionsCompany NewsNews

Dunes Point Capital Acquires Furniture Design Company Kwalu

by Jeff Shaw

RYE, N.Y., and ATLANTA — Dunes Point Capital (DPC), a Rye-based investor, has acquired Kwalu, an Atlanta-based designer and manufacturer of furniture serving the healthcare and senior living markets. Kwalu has a manufacturing facility in Matamoros, Mexico and showrooms in Atlanta and Chicago. The company employs approximately 800 people. Dunes Point Capital Fund III LP provided the controlling equity for the transaction. Twin Brook Capital Partners provided the debt financing for the transaction. The purchase price was not disclosed. Kirkland & Ellis LLP served as legal advisor to DPC, and …

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AcquisitionsFeaturesMarylandNewsSkilled Nursing

Oxford Finance Provides $124.8M Acquisition Financing for Four Autumn Lake Skilled Nursing Facilities in Maryland

by Jeff Shaw

MARYLAND — Oxford Finance LLC (“Oxford”) has provided a $124.8 million senior credit facility for the acquisition of four Autumn Lake Healthcare skilled nursing facilities totaling 520 beds in Maryland. Autumn Lake Healthcare maintains a network of independently owned and operated nursing homes and rehabilitative care centers across Connecticut, New Jersey, Maryland, West Virginia and Wisconsin. Further details were not disclosed.

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FinanceNews

Dwight Capital, Dwight Mortgage Trust Close $192.3M in Healthcare Financing During Q3

by Jeff Shaw

NEW YORK CITY — Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, financed $192.3 million in seniors housing and healthcare financing during third-quarter 2022. Dwight provided a $42 million bridge loan to facilitate the acquisition of a three-property skilled nursing portfolio in New Hampshire: Epsom Healthcare Center, Maple Leaf Healthcare Center and Villa Crest Nursing and Retirement Center. The facilities comprise 387 beds and approximately 195,860 square feet. Josh Sturm, originated this transaction. Dwight also financed a $27 million bridge acquisition loan for a portfolio of four assisted living …

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Affordable HousingDevelopmentFloridaNews

Related Group Completes Renovations at Affordable Robert King High Affordable Community in Miami

by Jeff Shaw

MIAMI — Miami-Dade County and the county’s Department of Public Housing and Community Development (PHCD), together with Related Group, have completed renovations at Robert King High Community Center in Miami’s Little Havana neighborhood. First built in 1964 in response to a rapid increase in senior population, Robert King High Towers was a first-of-its-kind development in the Southeast. The community features 315 affordable housing units for seniors and a 10,000-square-foot community center. The community center renovations are now fully completed, with work on the residential towers well underway. The renovation preserved …

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FeaturesLegal IssuesNews

Argentum Accelerates Efforts to Bring Solutions to Workforce Crisis Impacting Senior Living Communities

by Jeff Shaw

ALEXANDRIA, Va. — Argentum, an Alexandria-based association for professionally managed senior living communities, has unveiled new coalition letters to Capitol Hill with solutions to stem the workforce shortage crisis in senior care. These letters, in coordination with the American Senior Housing Association (ASHA) and LeadingAge, call on Congressional leadership and the House 21st Century Long-Term Care Caucus to build and train the workforce needed now and into the future to care for the nation’s rapidly aging population. “The lead up to the midterm elections is the ideal time to bring …

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Affordable HousingDevelopmentFloridaNews

Housing Trust Group, AM Affordable Housing Break Ground on $44M Tucker Tower in Miami

by Jeff Shaw

MIAMI — Housing Trust Group (HTG) and AM Affordable Housing have broken ground on Tucker Tower, a $44 million affordable housing community in Miami for seniors age 62 and older. Located in the city’s Perrine neighborhood, the eight-story property’s apartments will be reserved for income-qualifying residents who earn at or below 25, 30 and 60 percent of area median income (AMI), with rents ranging from $457 to $1,317 per month. The property is scheduled to open in early 2024. The project team for Tucker Tower includes general contractor BDI Construction; …

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AcquisitionsActive AdultIndependent LivingIndianaNews

Blueprint Negotiates Sale of Discovery Commons at College Park in Indianapolis

by Jeff Shaw

INDIANAPOLIS — Blueprint Healthcare Real Estate Advisors has arranged the sale of Discovery Commons at College Park, a 148-unit independent living community in Indianapolis. A publicly traded REIT sold the asset to Elevation Financial Group, which plans to convert the community to active adult living. The price was not disclosed.

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