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AcquisitionsActive AdultNewsOklahoma

Blueprint Brokers Sale of Three Active Adult Communities in Metro Oklahoma City

by Jeff Shaw

MOORE, MUSTANG and EDMOND, Okla. — Blueprint Healthcare Real Estate Advisors has brokered the sale of three active adult communities in the Oklahoma City suburbs of Moore, Mustand and Edmond. The seller was Walters Construction Co., which developed the properties between 2010 and 2021. The portfolio features 350 units, including a recent 35-unit expansion at the Moore community. With the exception of that expansion, the communities were fully occupied at the time of sale. The buyer and price were not disclosed.

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AcquisitionsInvestmentMemory CareNewsOklahomaTexas

1031 Crowdfunding Acquires Memory Care Portfolio as Opportunity Fund Reaches Full Subscription

by Jeff Shaw

IRVINE, Calif. — 1031 Crowdfunding, an Irvine-based real estate investing platform, has fully subscribed its $16.9 million 1031CF Portfolio 1 DST. This is the company’s sixth investment in senior living care facilities. The fund was used to acquire two memory care communities. Iris Senior Living is the operator of both properties, which are located in the Dallas-Fort Worth and Oklahoma City metro areas. The facilities include a combined 88 beds and 76 units, and are currently 91 percent occupied. 1031 Crowdfunding’s affiliate, 1031 CF Properties LLC, created the investments to …

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FeaturesNews

Seniors Housing Occupancy on the Mend, but NOI Trails, Say Industry CEOs

by Jeff Shaw

LOS ANGELES — After bottoming out at 78.7 percent in the second quarter of 2021, private-pay seniors housing occupancy has been on a slow, steady climb, according to data from the National Investment Center for Seniors Housing and Care (NIC). The most recent data — for the fourth quarter of 2021 — showed occupancy at 81 percent. However, the pace of recovery varies widely among individual markets, individual companies and even individual properties. “Some people are able to manage the turmoil. Some are even thriving, or at least doing pretty …

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FinanceNewsNorth DakotaSkilled Nursing

Preston Hollow Community Capital Arranges $78M Bond Financing for Skilled Nursing Facility in Bismarck, North Dakota

by Jeff Shaw

BISMARCK, N.D. — Dallas-based Preston Hollow Community Capital (PHCC) has arranged a $78 million, tax-exempt bond transaction for a skilled nursing facility in Bismarck. The borrower is Missouri Slope Lutheran Care Center, which built the property on its existing campus. The bonds were issued through Burleigh County. Colliers Securities underwrote the bonds. The bonds will provide permanent financing for the 192-bed facility. Missouri Slope undertook the project nearly eight years ago following a strategic planning session that identified the need for more private rooms, better parking and additional community services …

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AcquisitionsAssisted LivingIllinoisNews

New Perspective Acquires 100-Unit Arboria of Long Grove in Illinois

by Jeff Shaw

LONG GROVE, Ill. — Minnesota-based New Perspective, through its Purpose First Partners venture with Boldt Capital, has acquired Arboria of Long Grove, a seniors housing community in the Chicago suburb of Long Grove. The property will be rebranded New Perspective Long Grove. The building includes 60 assisted living apartments and 40 memory care apartments. New Perspective is managing and operating the Long Grove location. The company also operates a community in nearby Silvis.

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Assisted LivingFinanceNewsSouth Carolina

MidCap Financial Provides $20.6M Recapitalization of Vineyard Bluffton in South Carolina

by Jeff Shaw

BLUFFTON, S.C. — MidCap Financial has provided a $20.6 million financing to recapitalize Vineyard Bluffton, a 96-unit assisted living and memory care community in Bluffton, just inland from Hilton Head Island. The borrower is Valeo Groupe Americas, which recently built the community. This is Valeo Groupe’s first transaction with MidCap Financial. The transaction was arranged through Peter Martz and Noam Kaminetzky of Meridian Capital Group.

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Memory CareNewsPeople

Anthem Memory Care Appoints Sheila Carwile as Vice President of Operations

by Jeff Shaw

LAKE OSWEGO, Ore. — Anthem Memory Care, an owner-operator based in Lake Oswego, has appointed Sheila Carwile as vice president of operations for Region 2. In this position, she is responsible for the overall management and performance of nine memory care communities in Ohio, Michigan, Minnesota, Washington and Utah. Carwile previously was regional operations consultant with 12 Oaks Senior Living in Dallas, where she revised and implemented the memory care programing throughout Texas and Oklahoma. She also served as regional director of operations with Civitas Senior Living in Fort Worth. …

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Affordable HousingDevelopmentFloridaNews

FK Architecture Breaks Ground on Three Affordable Projects in Naples, Florida

by Jeff Shaw

NAPLES, Fla. — FK Architecture has broken ground on three affordable housing projects in Naples, located on the Gulf Coast in South Florida. The projects are named Harmony on Santa Barbara, Allegro at Hacienda Lakes, and Cadenza at Hacienda Lakes. “Affordable housing is a critical need throughout the United States,” says Ted Hunton, managing principal at FK Architecture. “Housing costs have exploded over the past few years. We fully expect these projects to establish long-lasting communities in the years to come.” Allegro and Cadenza at Hacienda Lakes are adjacent senior …

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InvestmentNewsPeople

Green Courte Partners Promotes Eight to New Positions

by Jeff Shaw

CHICAGO — Green Courte Partners LLC, a Chicago-based private equity firm that includes seniors housing has promoted eight of its team members. The company promoted Jon Pollan to managing director of acquisitions and Josh Reichert to managing director of portfolio management. Pollan joined Green Courte in 2013 as an associate focusing on acquisitions and asset management. He was promoted to senior associate in 2015 and vice president in 2018. As a managing director, Pollan will be responsible for sourcing and leading new acquisitions for Green Courte’s near-airport parking company, The …

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