FEDERAL WAY, Wash. — Lument has provided a $21.5 million loan for the refinancing of a seniors housing community located in Federal Way, roughly 25 miles south of Seattle. Village Green of Federal Way totals 170 units, with 136 assisted living units and 34 independent living cottages. Casey Moore of Lument arranged the Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) Section 232/223(f) loan on behalf of the borrower, a family-owned company. The loan features a fixed interest rate and 35-year term. “Lument was able to help us navigate …
NEW CITY, N.Y. and TOWNSHIP OF WASHINGTON, N.J. — Bain Capital Real Estate and Capitol Seniors Housing have received a $48 million loan for the refinancing of two seniors housing communities. The communities include The Chelsea at New City in New City, New York, and The Chelsea at Washington Township in the Township of Washington, New Jersey. JLL Capital Markets secured the three-year, floating-rate loan through a large regional bank on behalf of Bain and Capitol Seniors Housing. Built in 2021, The Chelsea at New City totals 80 assisted living, memory …
BRENTWOOD, Tenn. — Senior living owner and operator Vitality Living has announced the appointment of a chief investment officer and a chief real estate officer. John Rimbach has been named chief investment officer, and Charles Hall will assume the position of chief real estate officer at the Brentwood, Tennessee-based company. Rimbach brings more than 30 years of experience in seniors housing to his new role, in which he will lead investment strategy, acquisitions, joint ventures and capital relationships. “I’m excited to help advance Vitality’s capital strategy, cultivate long-term investment partnerships and …
HOLYOKE, Mass. — WinnCos. has completed a $55.3 million seniors housing adaptive reuse project in Holyoke. A redevelopment of a vacant mill complex, Residences at Appleton has delivered 88 affordable housing units for residents age 55 and older. Twelve of the apartments are reserved for seniors earning at or below 30 percent of the area median income (AMI); 63 apartments are reserved for seniors earning at or below 60 percent of the AMI; and 13 apartments are reserved for seniors earning at or below 80 percent of the AMI. Residences at …
LOCKPORT, N.Y. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Briarwood Manor, a 113-unit, 160-bed assisted living and memory care community located in Lockport, roughly 30 miles northeast of Buffalo. Originally opened in 1982, the property was 44 percent occupied at the time of marketing. The memory care wing was added in 2017. A private owner exiting the seniors housing market was the seller. A private real estate investor acquired the community for an undisclosed price. Dave Balow, Dan Geraghty and Ryan Saul of SLIB brokered the transaction …
ST. LOUIS — Berkadia has brokered the sale of three seniors housing communities located in metro St. Louis. Berkadia arranged the transactions on behalf of the seller, a private equity firm that developed the properties. The communities include The Grande at Creve Coeur in Creve Coeur, roughly 15 miles northwest of St. Louis; The Grande at Laumeier Park in Sunset Hills, approximately 15 miles southwest of St. Louis; and The Grande at Chesterfield in Chesterfield, about 20 miles west of St. Louis. The Grande at Creve Coeur, a 53-unit memory care …
LOUISVILLE, Ky. — Distinctive Living has assumed management of Twinbrook Assisted Living, a senior living community located in Louisville. Under Distinctive Living, Twinbrook Assisted Living will leverage standardized operating systems, centralized support functions and enhanced reporting. Founded in 2021, Distinctive Living was ranked as the 36th-largest seniors housing operator in the 2025 edition of the ASHA 50.
HOUSTON — Nonprofit Brazos Presbyterian Homes has announced plans for a 385,000-square-foot expansion at The Hallmark in Houston. The project will add a 21-story independent living building, Uptown Oaks, to the continuing care retirement community. Uptown Oaks will feature 120 high-end units. Construction on the expansion is expected to begin in 2027. Amenities at Uptown Oaks will include a yoga studio and massage area, art and hobby studio, café, movie theater and pool area.
ALISO VIEJO, Calif. — BMO Healthcare Real Estate has provided financing for the acquisition of Belmont Village Aliso Viejo in Aliso Viejo. Harrison Street Asset Management is the borrower. Opened in 2019, the Southern California community totals 156 assisted living and memory care units. Belmont Senior Living developed and operates the property. Harrison Street currently has more than $108 billion in assets under management.
DANA POINT, Calif. —CareTrust REIT (NYSE: CTRE) has acquired a skilled nursing portfolio located in the Mid-Atlantic for roughly $142 million including transaction costs. The acquisition was funded with cash on hand. The seller was not disclosed. Totaling 532 licensed beds, the portfolio is operated by a tenant engaged in a triple-net lease with annual inflation-based rent escalators and multiple renewal options. According to CareTrust, the portfolio is expected to generate a 9 percent stabilized yield. “The quality of the portfolio, attractive coverage metrics, and the opportunity to transact with a …