COLORADO — VIUM Capital has provided $47.7 million in bridge financing for the acquisition of seven skilled nursing facilities in Southwest Colorado. The portfolio totals 558 beds. Further details were not disclosed.
PORTLAND, Ore. — Ziegler has arranged a $42.4 million Cinderella bank placement, as well as a $7 million taxable revolving line of credit, for Rose Villa, a continuing care retirement community in Portland. Situated on 21.5 acres, the community currently features 261 independent living homes, 16 nursing beds and 16 residential care beds. In addition, Rose Villa’s Phase III project adding 41 new independent living homes and a replacement supportive care neighborhood has come online with move-ins beginning in July 2022. Phase III was fully presold. Truist Bank will provide …
VANCOUVER — Newmark Group Inc. has brokered the sale of eight seniors housing communities in Western Canada for more than $300 million. H&H Total Care Services sold the 1,092-unit portfolio to a joint venture between Axium Infrastructure and Optima Living. Newmark’s Mark Gallagher, BJ Bhal and Dave Kalinowsky represented the seller on the transaction. “This strategic portfolio transaction provides the joint venture partnership with immediate scale and considerable market share of funded seniors housing residences in Western Canada,” says Gallagher. The portfolio is relatively new, with an average building age …
SALINA, Kan. — Lument has provided a Fannie Mae DUS loan to refinance Eaglecrest Retirement Community in Salina. Located approximately 180 miles west of Kansas City and 90 miles north of Wichita, the community features 102 units of independent living and assisted living. The operator is Midwest Health and it was built in 2004. Lument Managing Directors Bill Wilson, Doug Harper and Casey Moore led the transaction.
DENVER — Evans Senior Investments (ESI) has arranged the sale of a 66-unit assisted living community in the Cherry Creek neighborhood of Denver. A large, East Coast-based private equity firm sold the asset to Novellas Living, the buyer’s first acquisition in the state of Colorado. The price was not disclosed. Built in 2002, the community was 67 percent occupied at the time of marketing while losing money. Throughout the transaction process, the community was able to increase occupancy to 79 percent while increasing the private pay payor source. ESI helped …
DALLAS — Compatriot Capital, a diversified real estate company and wholly owned subsidiary of Sammons Enterprises Inc., has acquired an equity interest in Dallas-based senior living developer Silverstone Senior Living. Currently, Compatriot Capital is Silverstone’s largest limited joint venture partner with investments in the company’s Washington, D.C. projects currently in development. Silverstone Senior Living was established in Dallas in 2012 by hospitality and real estate veterans Denny Alberts and John Goff, who had held executive roles at Crescent Real Estate Equities Inc. Currently, Crescent is an investor in Silverstone. Silverstone …
DES MOINES, Iowa — LCS, the nation’s third largest senior living provider, has promoted Chris Bird from executive vice president and chief operating officer to president. He will continue to serve in his existing roles at the company following the promotion. Bird will be responsible for leading the company’s operating activities and working with senior management to drive performance and earnings across all business lines. “This is a well-deserved promotion for one of the industry’s most respected leaders,” said Joel Nelson, LCS’ CEO. “Chris has dedicated his career to senior …
DALLAS — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Avenues of Park Forest, an 86-unit seniors housing community in Dallas. The community was built in 1998, totaling 65,000 square feet on approximately four acres of land. The seller was a large investment manager that hired a third-party manager for this community. The buyer is a private equity company specializing in seniors housing and medical office buildings. The price was not disclosed. The buyer plans to invest in capital improvements to push census growth. Jason Punzel and …
SAN JUAN CAPISTRANO, Calif. — The Ensign Group Inc. (NASDAQ: ENSG), an owner-operator based in San Juan Capistrano, has acquired nine skilled nursing facilities in Texas, South Carolina and Arizona across three separate transactions. In the first transaction, Ensign purchased six properties in Texas: Brodie Ranch Nursing and Rehabilitation, a 120-bed facility located in Austin; Onion Creek Nursing and Rehabilitation Center, a 125-bed facility in Austin; Riverside Nursing and Rehabilitation Center, a 122-bed facility in Austin; West Oaks Nursing and Rehabilitation Center, a 125-bed facility in Austin; Lakeside Nursing and …
LAS VEGAS — MorningStar Senior Living and Confluent Senior Living have broken ground on MorningStar Senior Living at The Canyons, the joint venture’s first development in Nevada. Located in Las Vegas, the four-story, 196,000-square-foot community will feature 95 independent living, 49 assisted living and 24 memory care units. Common areas will include indoor and outdoor dining venues, a pool and spa, fitness center and clubroom terrace with views of the Vegas Strip and mountains to the west. Completion is slated for summer 2024. Confluent Senior Living, a subsidiary of Denver-based …