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Assisted LivingCaliforniaIndependent LivingNews

Cogir Senior Living Opens 158-Unit Seniors Housing Community in Metro Los Angeles

by Hayden Spiess

TORRANCE, Calif. — Cogir Senior Living has opened Cogir of South Bay, a 159-unit seniors housing community in Torrance, approximately 20 miles outside downtown Los Angeles.  Situated near the Del Amo Fashion Center and two miles from the ocean, the property features independent and assisted living residences. Amenities at the community include multiple dining venues, a bistro, fitness center, theater, salon, art room and an outdoor amenity deck with a pool.  Ryan Cos. US Inc. constructed the development on behalf of Cogir Senior Living. 

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AcquisitionsFinanceFloridaMarylandNewsSkilled Nursing

CFG Provides $207.1M Bridge-to-HUD Loan for Skilled Nursing Portfolio in Florida

by Hayden Spiess

BALTIMORE — Capital Funding Group (CFG) has provided a $207.1 million bridge-to-HUD loan to 980Investments to support the partnership buyout of a portfolio of skilled nursing facilities in Florida. Together, the facilities total 1,423 beds across 13 properties. Additionally, Capital Finance LLC, a subsidiary of CFG Bank, provided $15 million in accounts receivable financing to support the working capital needs of the facilities.  Andrew Jones and Ava Julio of Baltimore-headquartered CFG originated the bridge-to-HUD loan, and Jeffrey Stein of Capital Finance originated the accounts receivable working capital line of credit. 

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AcquisitionsNewsPennsylvaniaSkilled Nursing

Blueprint Arranges Sale of Nine Skilled Nursing Facilities in Metro Pittsburgh

by Hayden Spiess

PITTSBURGH — Blueprint has arranged the sale of nine skilled nursing facilities located in metro Pittsburgh. Kadima Healthcare Group acquired the properties from Comprehensive Healthcare Management Solutions, which is currently undergoing restructuring following a Chapter 11 bankruptcy filing this May.  The chief restructuring officer for Comprehensive Healthcare Management Solutions engaged Blueprint to handle the divestiture.  Operated under two brands — Maybrook and Consulate — the facilities together comprise 930 licensed skilled nursing beds, 19 personal care beds and 15 independent living units. 

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NewsPeopleTexas

Widely Respected Seniors Housing Consultant and Prolific Author Jim Moore Dies at Age 90

by Hayden Spiess

FORT WORTH, Texas — Jim Moore, founder of prominent consulting firm Moore Diversified Services Inc. and a 2018 Senior Living Hall of Fame inductee, died Sunday at the age of 90. David Schless, president of the American Seniors Housing Association, made the announcement in an e-mail to the organization’s members on Tuesday. Quoting from Moore’s Hall of Fame biography, Schless wrote that “over the course of his 48-year career, there were few, if any, who had more influence over senior living from the 1980s through his retirement in 2019.” Moore launched …

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Affordable HousingDevelopmentFinanceNewsOhio

KeyBank Arranges $93M in Construction Financing for Affordable Seniors Housing Development in Columbus, Ohio

by Hayden Spiess

COLUMBUS, Ohio — KeyBank Community Development Lending and Investment (CDLI) has arranged a total of $93 million in construction financing for a new affordable seniors housing community in Columbus.  Dubbed The Caravel, the community will feature 234 units for residents age 55 and older who earn at or below 50, 60 and 70 percent of the area median income (AMI). Of the garden-style apartments, 25 will be fully accessible, and all units will be adaptable for residents with ADA needs.  KeyBank provided a $43.3 million construction loan and $23.8 million in …

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FinanceNewsSkilled NursingTexas

Berkadia Secures $13M Bridge-to-HUD Financing for Skilled Nursing Facility in Eagles Pass, Texas

by Hayden Spiess

EAGLES PASS, Texas — Berkadia has secured a $13 million bridge-to-HUD loan for the financing of a 104-bed skilled nursing facility located in Eagles Pass on the Mexican border. The name of the lender was not disclosed. The undisclosed borrower has operated the property since 2019 and will use the 18-month, interest-only financing to cover the cost to purchase the leased fee interest. Jay Healy of Berkadia Seniors Housing & Healthcare arranged the loan for a Fort Worth, Texas-based owner and operator of nursing homes.  Berkadia also plans to secure the …

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AcquisitionsCCRCNew HampshireNews

Continuum Advisors Arranges $11M Sale of CCRC in Central New Hampshire

by Hayden Spiess

MEREDITH, N.H. — Continuum Advisors has arranged the $11 million sale of Meredith Bay Colony Club, an 85-unit continuing care retirement community (CCRC) located in Meredith in central New Hampshire, a two-hour drive from Boston. Taylor Community, a nonprofit owner and operator, acquired the community. Built in 2008, the property offers 41 independent living apartments, 20 assisted living residences and 24 memory care units, as well as an additional 18 acres of undeveloped land for future expansion. Amenities at the community include an underground parking garage, indoor pool and fitness center …

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FinanceFloridaNewsSkilled Nursing

MonticelloAM Provides $87M Bridge and Working Capital Financing for Skilled Nursing Portfolio in Florida

by Hayden Spiess

NEW YORK CITY — Multifamily and seniors housing bridge lending platform MONTICELLOAM LLC (MonticelloAM) has provided $87 million in bridge and working capital financing for a portfolio of skilled nursing facilities located in Florida.  Proceeds from the loan, which features a 24-month term and two six-month extensions, were used to refinance existing debt on the properties.   The portfolio comprises 450 skilled nursing beds across four properties. A $7 million working capital revolver will fund day-to-day operational expenses for the facilities. The borrower was not disclosed. 

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AcquisitionsAssisted LivingMemory CareNew JerseyNews

Blueprint Arranges Sale of 60-Unit Assisted Living, Memory Care Facility in New Jersey

by Hayden Spiess

MANALAPAN TOWNSHIP, N.J. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a Class A seniors housing facility located in Manalapan Township, roughly 45 miles outside New York City. Delivered in 2022, the community includes 60 residences and features both assisted living and memory care units. Ben Firestone, Steve Thomes and Kory Buzin of Blueprint represented the New Jersey-based seller in the transaction.  Springpoint, the tenant in place at the property, acquired the community for an undisclosed price. According to Blueprint, the facility experienced occupancy issues during its first …

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Company NewsFeaturesNew YorkNewsPeople

Perry Freitas Joins Lighthouse Capital as Managing Director of Originations

by Channing Hamilton

NEW YORK CITY — Lightstone Capital has hired industry veteran Perry Freitas as managing director of originations. In his new role, Freitas will lead the nationwide sourcing, structuring and originating of commercial real estate debt investments as part of Lightstone Capital’s growth strategy. Prior to joining Lighthouse Capital, Freitas spent the last two decades at Hudson Realty Capital, a New York City-based commercial real estate investment management firm, where he most recently served as a managing director. He was involved in over $4 billion in transactions and was directly responsible for originating, …

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