NEW YORK CITY — Dwight Capital has provided $171.7 million in seniors housing and healthcare financings during the third quarter of 2021. In highlights from the transactions, the company funded a $23.3 million bridge loan for the acquisition of Lackawanna Health and Rehabilitation Center, a 272-bed skilled nursing facility in Peckville, Pennsylvania. Additionally, Adam Offman originated a $22.2 million bridge refinancing for a portfolio of three skilled nursing facilitiies located across Wisconsin: Edenbrook of Oshkosh, Edenbrook of Wisconsin Rapids and Edenbrook of Edina. Together, the facilities comprise 285 beds across …
MUSKEGO, Wis. — Ziegler has arranged $38.7 million in bond financing for PHW Muskego, an affiliate of Presbyterian Homes and Services. The funds will be used for the construction of a new senior living community, Stair Crest in Muskego, approximately 16 miles southwest of downtown Milwaukee. The bonds are non-rated, tax-exempt, fixed-rate serial and term bonds with a 40-year maturity. The community will feature 80 independent living apartments, 40 assisted living apartments (20 of which are designated for memory care) and a town center. Upon construction completion, the borrower expects …
SCOTTSDALE, Ariz. — Cadence Living has hired Ronnie Brown as vice president of operations for the Mountain Region. Brown will have principal responsibility over operations of the Cadence Living managed communities in Colorado. She brings over 22 years of senior living sales and operations experience to Cadence, including more than 15 years oversight for communities in Colorado. Prior to joining Cadence, Brown was regional director of operations supporting communities in Arizona, Ohio and South Carolina. Over her 22-year career in the senior living industry, she has worked for Brookdale Senior …
GOSHEN, Ind. — Evergreen Real Estate Group has secured financing and started preliminary site work for Green Oaks of Goshen, a four-story, 120-unit assisted living community for low-income seniors in Goshen. Evergreen Construction Company, a division of Evergreen Real Estate Group, is serving as general contractor on the development and plans to officially break ground on Oct. 28. Completion is scheduled for early 2023. The $30 million project will replace a vacant three-acre lot on the city’s north side, near an existing Salvation Army building and retail along Main Street. …
BLOOMFIELD, Mich. — American House Senior Living Communities and MHT Housing Inc. have unveiled plans for American House Village at Bloomfield, an independent living community in Bloomfield, a suburb of Detroit. The property will feature 150 units within Village at Bloomfield, a mixed-use development that includes apartment, fitness, medical, hotel, grocery, retail and office uses. American House Senior Living Communities will operate the community upon completion.
LAKE WORTH, Fla., and TULSA, Okla. — Hudson Realty Capital has originated two bridge loans totaling $37.8 million secured by two senior living and memory care properties located in Lake Worth and Tulsa. The deal comes on the heels of the company’s hire of Ashley Wilkens as its director, deputy chief underwriter, who brings more than a decade of experience in the capital markets, senior living and healthcare industries. The proceeds from Hudson’s financings for the sponsor, Columbia Pacific Advisors, will be used to refinance the existing debt for The …
FLATHEAD COUNTY, Mont., and DALLAS — Berkadia Seniors Housing & Healthcare has provided $20.6 million in HUD financing across two transactions. The first transaction was an $11.2 million HUD loan for an affordable assisted living community in Dallas. Jay Healy arranged the financing via the 232/223(f) program for a Texas-based, nonprofit borrower. The loan retired both the construction and mezzanine debt tied to the project. At the time of underwriting, occupancy hovered around 90 percent. The 128-unit assisted living community was constructed in 2015 in partnership with the Dallas Housing …
WAYNE, Pa. — Specialty senior moving services provider Moves for Seniors has launched a safety-focused initiative to make fully vaccinated moving crews available to as many clients as possible. The Wayne-based company has fully vaccinated crews available in 50 markets to date, with ongoing efforts to add new markets weekly across the national network. “Our organization is purpose-built for seniors and a critical goal for us is customer safety,” says Chris Smith, founder and CEO of Moves for Seniors. “In 2020 and early 2021, our primary focus was on securing …
ATLANTA — Ziegler has arranged a total of $170.6 million in bond financing for Canterbury Court, a continuing care retirement community (CCRC) in Atlanta’s upscale Buckhead neighborhood. Canterbury Court was founded in the early 1960s by the All Saints Episcopal Church and St. Luke’s Episcopal Church. The community currently features 187 independent living apartments, 18 personal care apartments and 42 nursing care beds. Proceeds from the bonds will be used to implement a phased expansion and renovation project at the community. The first phase includes replacing the existing healthcare facilities …
BOSTON — Nuestra Comunidad and Preservation of Affordable Housing (POAH) have broken ground on The Kenzi at Bartlett Station, a 50-unit affordable seniors housing community in Boston. The $27 million project is part of a five-phase redevelopment at a vacant bus yard, which Nuestra Comunidad and Windale Developers now own, in Nubian Square, located in the Roxbury neighborhood. The Kenzi will feature 41 affordable one-bedroom units, and three affordable two-bedroom apartments in a 57,576-square-foot building. The housing includes 44 units restricted to Bostonians over the age of 55 who earn …