ORLANDO — Foundry Commercial, in partnership with an investment fund managed by Morgan Stanley Real Estate Investing, has purchased the Spring Arbor Senior Living collection of 24 assisted living and memory care communities across the Mid-Atlantic. As part of the transaction, Foundry Commercial acquired the current operator, which will continue to manage the properties post-closing. The portfolio contains 1,424 units throughout Maryland, North Carolina and Virginia, with capacity for more than 1,800 residents. The Spring Arbor platform will continue operations under the Spring Arbor Senior Living brand. Capital Funding arranged …
CINCINNATI — Meridian Capital Group has arranged acquisition financing for a portfolio of six senior living and skilled nursing properties in Cincinnati. A finance company provided the capital. The portfolio consists of six Class A skilled nursing, memory care, independent living and assisted living facilities totaling 510 beds. This transaction was negotiated through Meridian’s seniors housing and healthcare platform, led by Ari Adlerstein and Josh Simpson, along with Matt Lesnik and Jesse Rauch.
CINCINNATI — Blueprint Healthcare Real Estate Advisors has arranged the sale of three seniors housing communities in the Cincinnati metro area. A continuing care retirement community anchors the portfolio, which totals 299 skilled nursing beds and 211 seniors housing units. A family seeking a succession plan sold the community to an institutional buyer for an undisclosed price. The communities were added to the buyer’s existing joint venture with a Cincinnati-based operator.
PITTSGROVE, N.J. — Capital Funding Group (CFG) has arranged $10.6 million in bridge-to-HUD financing for the acquisition of an 84-bed skilled nursing facility in Pittsgrove, approximately 30 miles south of Philadelphia. Care Tim Eberhardt and Ava Julio originated the transaction. Further details were not disclosed.
ALBANY, Ore. — Greatness Digital, a marketing agency located in Albany, has announced the official pivot toward the senior care and senior living industries. “The approach that we take requires us to really get to know our clients and their business, but we were stretching ourselves too thin to really be great in every industry, so we decided to focus on our roots, our passion,” says founder Zeth Owen. Owen spent 10 years of his career working with seniors and their families. “The agency first came into being because senior …
VALPARAISO, Ind. — Chicago-based Evergreen Real Estate Group has started construction of Green Oaks of Valparaiso, a three-story, 120-unit assisted living community for low-income seniors in Valparaiso. The $30 million project is scheduled for completion in April 2023. It will offer 48 studio and 72 one-bedroom apartments, all of which will be reserved for seniors age 62 or older with incomes at or below 60 percent of the area median income (AMI). A financial assistance program will be available for those who qualify. Green Oaks of Valparaiso will be licensed …
DALLAS — North Texas Benevolent Holdings has acquired three seniors housing communities. The locations and details on the properties were not disclosed. The properties were formerly part of Christian Care Centers, which declared bankruptcy. The buyer intends to lease all three communities to affiliates of Boncrest Resource Group Inc. a nonprofit operator North Texas Benevolent Holdings, LLC is owned by McFarlin Group of Dallas and Covington Health Group of Atlanta.
DALLAS and AUSTIN, Texas — Anthology Senior Living has released plans for two new senior living communities in Austin and Dallas that include a total of 251 residences. Once these projects are complete, Anthology Senior Living will have a total of six communities in the state of Texas. Anthology of The Arboretum, located on 2.1 acres in Austin, will offer assisted living and memory care options. The 131,000-square-foot development is located between The Arboretum and The Domain, two major retail centers including many high-end shops and restaurants. The five-story building …
HILLIARD, Ohio — True Connection Communities has completed development of Verena at Hilliard, an active adult community in Hilliard, a suburb of Columbus. The property features one- and two-bedroom options and offers direct interior access to the Hilliard branch of the Columbus Metropolitan Library. A grand opening will be held on Wednesday, June 8.
FORT LAUDERDALE, Fla. — CarePredict, a Fort Lauderdale-based digital health company focused on senior living, has added Chris Winkle to its board of directors. Winkle most recently led Sunrise Senior Living for over seven years as its CEO and COO. Sunrise operates 280 senior living communities in the U.S. and Canada. Previously, Winkle was the CEO of MedQuest and Mariner Healthcare in the diagnostics and post-acute industries. Winkle is currently on the board of Direct Supply. He served till recently on the board of Argentum, a national trade association representing …