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AcquisitionsMassachusettsNews

Cushman & Wakefield Brokers Sale of Boston-Area Seniors Housing Campus

by Jeff Shaw

CHESTNUT HILL, Mass. — Cushman & Wakefield’s Senior Housing Capital Markets team has arranged the sale of Wingate Residences at Boylston Place, a 48-unit assisted living property, and Wingate at Chestnut Hill, a 135-bed skilled nursing facility. The two properties are located on a single campus in Chestnut Hill, a village just outside of Boston. The institutional seller was a pension fund investor that is exiting the senior living space. The buyer is a joint venture between Harrison Street, an institutional private equity firm, and LCB Senior Living, a regional …

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AcquisitionsMassachusettsNews

Blueprint Negotiates Sale of The Terraces Orleans on Cape Cod

by Jeff Shaw

ORLEANS, Mass. — Blueprint Healthcare Real Estate Advisors has arranged the sale of The Terraces Orleans, a 50-bed skilled nursing facility and 19-unit independent living community in Orleans, a town on Cape Cod. The property was built in 1968 and thoroughly renovated in 2000. The buyer was a Massachusetts-based operator looking to grow its regional presence with its first real estate acquisition. The seller and price were not disclosed.

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Active AdultDevelopmentFeaturesNews

The Future of Seniors Housing is All About Lifestyle, Say InterFace Panelists

by Jeff Shaw

PHILADELPHIA — Operators in the seniors housing industry have long been awaiting the incoming demographic wave of baby boomers reaching retirement age. Every day in the U.S., 10,000 people turn 65, and the number of older adults will more than double over the next several decades to top 88 million people and represent over 20 percent of the population by 2050. The oldest boomers are now 76. But this wave of customers will have very different desires than existing seniors housing residents, according to Tod Petty, chief operations officer at …

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CCRCDevelopmentNewsNorth Carolina

LCS Development Begins 44-Unit Expansion at Plantation Village in Wilmington, North Carolina

by Jeff Shaw

WILMINGTON, N.C. — LCS Development has started construction of an expansion at Plantation Village, a continuing care retirement community in Wilmington. The project will add 44 independent living units with covered parking, a new artisan studio, woodshop, dog park, cocktail bar, billiards room, more indoor and outdoor dining options, and expanded garden area for residents. A theater room, board room and creative arts room are also planned. Herbert J. Sims & Co. guided the financing of the project. Construction is scheduled for completion by May 2023. Project partners include CJMW …

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CaliforniaColoradoFinanceIowaNews

Monticello Provides $89M Refinancing for 1,188-Bed Portfolio in California, Colorado, Iowa

by Jeff Shaw

NEW YORK CITY — Monticello and its affiliates have provided $89 million in first-lien debt financing for the refinancing of 10 skilled nursing facilities and one assisted living facility. Totaling 1,188 beds, the portfolio is located in California, Colorado and Iowa. Further details were not disclosed.

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AcquisitionsCaliforniaNewsSkilled Nursing

JCH Brokers $6.4M Sale of Skilled Nursing Facility in Fresno, California

by Jeff Shaw

FRESNO, Calif. — JCH has arranged the sale of a skilled nursing facility in Fresno. An owner-operator sold the asset to a regional owner-operator for $6.4 million. The former tenant opted out of the property, and JCH also assisted in finding a new tenant. Cindy Hazzard and Jennifer Contreras of JCH handled the transaction process.

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NewsPeople

NexCore Group Hires Jeanette Allen as Vice President of Health and Wellness

by Jeff Shaw

DENVER — Denver-based NexCore Group, a national healthcare, life sciences and senior living real estate developer, has hired Jeanette Allen as vice president of health and wellness for Experience Senior Living (ESL), a NexCore-owned company. Allen has served in the senior living space for more than 30 years. Her most recent experience was serving as vice president of health and wellness for Balfour Senior Living. In her role, she oversaw clinical and wellness, vendor relations and risk management. Prior to that, Allen was divisional director of health and wellness with …

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CCRCFinanceNewsNorth Carolina

Ziegler Arranges $130.8M Financing for United Methodist Retirement Homes

by Jeff Shaw

DURHAM, N.C. — Ziegler has arranged $130.8 million in bond financing for United Methodist Retirement Homes (UMRH). Based in Durham, UMRH operates three communities in North Carolina: Croasdaile Village in Durham, Cypress Glen in Greenville and Wesley Pines in Lumberton. The portfolio totals nearly 1,000 units. The bonds comprise both public, fixed-rate bonds and direct bank-held bonds that enable UMRH to lock in cash flow savings while borrowing $32.6 million of new money capital with its maximum annual debt service unchanged. In addition, the financing will fund a 54-unit independent …

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AcquisitionsFloridaIllinoisMichiganNews

CBRE Arranges Acquisition Financing for Seven-Property Portfolio in Florida, Illinois, Michigan

by Jeff Shaw

NEW YORK CITY and SOUTHFIELD, Mich. — CBRE National Senior Housing has arranged recapitalization and acquisition financing for seven seniors housing communities across three transactions on behalf of a joint venture between New York-based Monarch Alternative Capital LP and Southfield-based REDICO. Aron Will, John Sweeny, Austin Sacco and  Adam Mincberg arranged the financing. American House Senior Living Communities, an affiliated company of REDICO, will manage the communities The seven communities total 1,133 independent living, assisted living and memory care units in Florida, Illinois and Michigan. The Florida Portfolio comprises American …

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AcquisitionsAssisted LivingNewsWashington

Blueprint Brokers Sale of 40-Unit Amber Hills Community in Prosser, Washington

by Jeff Shaw

PROSSER, Wash. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of Amber Hills, a 40-unit seniors housing community in Prosser, 190 miles northeast of Portland, Oregon. Originally constructed in 1999, Amber Hills offers assisted living units. Blueprint positioned the asset as a value-add opportunity focusing the buyer’s ability to increase census by adding regional oversight and increasing the assisted living unit count through a new renovation on the vacant land parallel to the community. The buyer was a growing regional owner-operator. The seller was a local group. The …

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