RICHARDSON, Texas — Berkadia has arranged the sale and financing of Appletree Court, a 118-unit senior living property located in Richardson, roughly 15 miles north of downtown Dallas. The community features assisted living and memory care units. A joint venture between Marquee Capital and Winterpast Capital Partners was the seller. The buyer was a joint venture between Virtus Real Estate Capital and Winterpast. Vitality Senior Living will continue to operate the property. Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia represented the seller in the transaction. Austin Sacco, …
BARDSTOWN AND ELIZABETHTOWN, Ky. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a portfolio consisting of two central Kentucky properties to an undisclosed West Coast-based buyer. The communities, which are located about 30 miles apart from each other in Bardstown and Elizabethtown, respectively, both offer assisted living and memory care services. The undisclosed seller was a Southeast-based owner and operator that was seeking to exit the Kentucky market in order to concentrate on its core geographic areas. In conjunction with the sale, the buyer has brought in …
SALT LAKE CITY — Owner and operator Stellar Senior Living has added six new communities to its management portfolio. The Utah-based company will now operate Granite Gate Prescott, Arizona; The Forum at Desert Harbor in Peoria, Arizona; The Gardens of Scottsdale and Pueblo Norte in Scottsdale, Arizona; The Forum at Tucson in Tucson, Arizona; and Montebello on Academy in Albuquerque, New Mexico. Stellar will manage the properties on behalf of Diversified Healthcare Trust, which owns the communities. “These communities are located in markets we know and trust, and they complement our …
SARASOTA COUNTY, Fla. — Capital Funding Group has provided a $179.8 million construction loan to Erickson Senior Living. Erickson will use the financing for the first phase of development of Emerson Lakes, a continuing care retirement community (CCRC) currently underway in Sarasota County. Situated within the Lakewood Ranch community, the first phase of Emerson Lakes will comprise four buildings — three residential buildings and one community building. Together, the three residential buildings will total 319 independent living units. Upon completion, Emerson Lakes will span 87 acres with 1,015 independent living residences …
NEW YORK CITY — Berkadia has expanded the capital available for bridge-to-permanent financing through its seniors housing & healthcare platform. Steve Ervin, Michael Cale and Lisa Burgess of Berkadia facilitated the expansion. The capital available for the bridge financing of seniors housing communities has been more than doubled. “There is significant demand for bridge financing products in the seniors housing and healthcare space,” said Burgess in a statement. “The increased capital available for bridge loans is a crucial addition to our expanding range of capital products, which we have been developing …
BRENTWOOD, Calif. — Senior Living Investment Brokerage (SLIB) has brokered the sale of Westmont of Brentwood, a 132-unit community in Northern California. Built in 2007 and situated on 4.5 acres approximately 45 miles east of Oakland, California, the property offers independent living, assisted living and memory care services. The sales price was not disclosed. The buyer, an unnamed private equity group with a background in seniors housing, is partnering with an established West Coast operator that is expanding its presence in California. With the sale of Westmont of Brentwood, the …
BOCA RATON and VERO BEACH, Fla. — Funds managed by affiliates of Fortress Investment Group have sold two seniors housing communities located in Florida. Totaling 178 units, the communities include Sonata Boca Raton and Sonata Vero Beach. JLL Capital Markets brokered the sale on behalf of the seller. Agewell Solvere Living will remain in place as the operator at both communities. The buyer was not disclosed.
NEW YORK CITY — MonticelloAM has provided a $70 million senior bridge loan to finance a portfolio of skilled nursing facilities located across Massachusetts and Rhode Island. The portfolio comprises 700 beds across eight properties. The $70 million bridge debt carries a 24-month initial term and will be used to refinance existing debt on the portfolio. “Our team delivered comprehensive financing solutions across the capital stack, successfully restructuring a pre-existing loan,” says Joseph Borenstein, head of the healthcare bridge lending team at New York City-based MonticelloAM. “This transaction highlights our deep …
PHOENIX — A joint venture between Harrison Street Asset Management, LCS and Ryan Cos. US Inc. has secured refinancing for Clarendale Arcadia, a senior living community located in the Arcadia neighborhood of Phoenix. Ryan Stoll and Taylor Mokris of BWE arranged the financing — which features full-term interest-only payments, an initial 36-month term and two one-year extension options — on behalf of the joint venture. Completed in 2023, Clarendale Arcadia totals 248 residences, with 240 independent living units, 68 assisted living units and 40 memory care units. Amenities at the property …
ST. LOUIS — Blueprint has served as the exclusive advisor to a Missouri real estate developer in its acquisition of full ownership of a 150-unit seniors housing community that it developed with a joint venture partner in metro St. Louis. The undisclosed community, which opened in 2024, offers independent living assisted living and memory care. The operator remains in place following the buyout. Blueprint was initially engaged four years ago to source an institutional capital partner for the development of the private pay seniors housing community. At the time of …