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AcquisitionsAffordable HousingFinanceFloridaNews

Greystone Provides $11.9M Acquisition Financing for Affordable Property in Tavares, Florida

by Jeff Shaw

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.

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Company NewsFinanceNewsPeople

NewPoint Hires Christopher Honn to Seniors Housing Lending Platform

by Jeff Shaw

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 …

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AcquisitionsActive AdultNewsTexas

Castle Lanterra Acquires Laurel at Vintage Park Active Adult Community in Tomball, Texas

by Jeff Shaw

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, …

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FinanceNews

JLL Arranges $175M Recapitalization for Southeastern Portfolio

by Jeff Shaw

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 …

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FinanceIllinoisNewsOperationsSkilled Nursing

Cambridge Provides $18.1M HUD Refinancing for Bria of Westmont in Illinois

by Jeff Shaw

WESTMONT, Ill. — Cambridge Realty Capital Cos. has provided a $18.1 million HUD Lean loan to refinance Bria of Westmont, a skilled nursing facility in Westmont, approximately 20 miles west of downtown Chicago. Andrew Erkes, Cambridge President, said Cambridge provided the fully amortized, 35-year loan to an Illinois limited liability company. Cambridge Realty Capital Ltd. of Illinois, the Cambridge business that specializes in underwriting FHA-insured HUD loans, underwrote the loan. Bria of Westmont is a 215-bed skilled nursing facility. It provides a range of skilled services and programs, including short-term …

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Ultimate Care Assisted Living Names Amy Silva-Magalhaes Chief Operating Officer

by Jeff Shaw

RONKONKOMA, N.Y. — Ultimate Care Assisted Living Management LLC has appointed Amy Silva-Magalhaes to the position of chief operating officer. Silva-Magalhaes served as the senior vice president of community operations for a Northeast-based provider and was instrumental in leading the overall functional strategies utilizing business expertise including enterprise-wide strategic planning, execution, business alignment, leadership development, human capital, communication and the strengthening of corporate culture. In addition to her tenure in senior living, her career has included years in hospitality management at Hilton and Marriott hotels. Silva-Magalhaes holds a bachelor’s degree …

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CCRCDevelopmentFinanceNewsNorth Carolina

Ziegler Arranges $95.6M Financing for The Forest at Duke in Durham, North Carolina

by Jeff Shaw

DURHAM, N.C. — Ziegler has arranged $95.6 million in bond financing for The Forest at Duke, a continuing care retirement community in Durham. The community sits on 47 acres just south of Duke University. First opened to residents in 1992, the property serves over 360 residents across 154 apartments, 81 cottages (235 total independent living units), 32 assisted living units and 58 licensed skilled nursing beds. To address the changing needs of existing and future residents, The Forest at Duke adopted a strategic plan that included two phases. Phase I, …

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Active AdultCompany NewsDevelopmentNewsPeople

Arden 55+ Living Promotes Natalie Edeburn to Director of Operations

by Jeff Shaw

CHARLOTTE, N.C. — Arden, a Charlotte-based company developing 55+ active adult living communities in the Southeast, has promoted Natalie Edeburn to the role of director of operations. In this inaugural position, she will seek to establish best-in-class methodologies to support operational performance and develop company policies and procedures. Edeburn joined Arden earlier this year with over 25 years of real estate and property management industry experience throughout the Southeast. In her new role, she will be actively involved in all aspects of the assets and oversee the entire active adult …

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DevelopmentFloridaNews

Joint Venture Plans 197-Unit Fellowship at Wildlight in Nassau County, Florida

by Jeff Shaw

YULEE, Fla. — The Fellowship Family and Ambling Property Investments have unveiled plans for Fellowship at Wildlight, a 197-unit seniors housing community within the master-planned community of Wildlight. The development is located in Yulee, between Jacksonville and the Georgia border. Fellowship at Wildlight will feature 24 memory care units, 48 assisted living units, 125 independent living units and six cottages on nearly 16 acres of land within the first phase of the Wildlight development. Sitework is slated to begin in 2023 with anticipated completion in 2025. Fellowship at Wildlight pre-leasing …

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CCRCDevelopmentFloridaNewsPeople

Convivial Life Appoints Lisa Cummins as Executive Director at The Cabana at Jensen Dunes in Florida

by Jeff Shaw

JENSEN BEACH, Fla. — Convivial Life has appointed Lisa Cummins as executive director at The Cabana at Jensen Dunes in Jensen Beach, on the Atlantic Coast in South Florida. She will oversee the daily operations of The Cabana and help guide the 22-acre campus into a future life plan community. Convivial Life’s plans include 170 new independent living residences, a new clubhouse and other support services that will complement The Cabana. Cummins brings over 23 years of experience in leading senior living organizations, including assisted living communities, life plan communities …

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