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AcquisitionsNewsSkilled NursingTexas

SLIB Negotiates $4.4M Sale of Retama Manor Nursing Home in Victoria, Texas

by Jeff Shaw

VICTORIA, Texas — Senior Living Investment Brokerage (SLIB) has arranged the sale of Retama Manor Nursing Home, a skilled nursing facility in Victoria, located between Houston and San Antonio. An independent owner sold the community for $4.4 million, as the lease with the operator was set to expire at the end of the year. The buyer is an owner-operator that will take over operations. The facility consists of 142 beds and was built in 1969 totaling approximately 29,510 square feet on three acres of land. Matthew Alley of SLIB handled …

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FeaturesNews

Seniors Housing Occupancy Is on the Mend, Report Industry CEOs

by Jeff Shaw

PHILADELPHIA — After a pandemic that severely impacted occupancy rates across seniors housing — setting and then re-setting record lows — occupancy has rebounded, and all signs point to a strong recovery, according to CEOs from top companies in the industry. “Occupancy has clearly been on the mind of a lot of folks,” said JP LoMonaco, president of Valuation & Information Group. LoMonaco was kicking off a session at France Media’s InterFace Seniors Housing Northeast conference in Philadelphia on Dec. 2. The session was titled “Power Panel: CEOs Discuss the …

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CCRCDevelopmentFloridaNews

FK Architecture Designs 155-Unit Expansion at Westminster Baldwin Park in Orlando

by Jeff Shaw

ORLANDO, Fla. — FK Architecture has completed design work for the second phase of Westminster Baldwin Park in Orlando. The 180,000-square-foot expansion will bring the continuing care retirement community to a total of 155 units and 40 rehabilitation beds. The second phase features three additional new residential buildings with 75 apartments. The general contractor for the project is Clancy & Theys.

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AcquisitionsFinanceNewsNorth CarolinaSouth Carolina

LTC Provides $52.5M Loan for 13-Property Acquisition in North Carolina, South Carolina

by Jeff Shaw

WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC) has provided a $52.5 million unitranche loan for the purchase of a 13‑property seniors housing portfolio located in North and South Carolina. An existing operator partner will manage the communities. The loan provides for additional commitments of $6.1 million for capital improvements and $650,000 for working capital, for a total investment commitment of approximately $60 million.

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Assisted LivingFinanceGeorgiaNews

JLL Arranges $18.5M Refinancing for Manor Lake Gainesville in Georgia

by Jeff Shaw

GAINESVILLE, Ga. — JLL Capital Markets has arranged an $18.5 million refinancing for Manor Lake Gainesville, a 88-unit, recently constructed assisted living and memory care community in Gainesville, approximately 50 miles northeast of Atlanta. JLL worked on behalf of the borrower, Manor Lake Development LLC, to secure the non-recourse, floating-rate loan through a debt fund. Manor Lake Gainesville was completed in 2019. The property offers studio, one-bedroom and companion suites ranging from 421 to 558 square feet. Joel Mendes and Trent Niederberger led the JLL Capital Markets Debt Advisory team …

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AcquisitionsGeorgiaNews

SLIB Brokers Sale of 59-Unit John-Wesley Villas of Savannah in Georgia

by Jeff Shaw

SAVANNAH, Ga. — Senior Living Investment Brokerage (SLIB) has arranged the sale of John-Wesley Villas of Savannah, a 59-unit independent living and assisted living community in Savannah. Located on 4.1 acres, the property also features an adjacent 1.1-acre lot for expansion. The seller sought to divest of this asset to focus on development of its larger, campus-style communities. The buyer has existing operations in Savannah. The price was not disclosed. Bradley Clousing and Daniel Geraghty of SLIB handled the transaction.

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Assisted LivingDevelopmentNewsSouth Carolina

Watercrest Completes 98-Unit Community in Myrtle Beach

by Jeff Shaw

MYRTLE BEACH, S.C. — Watercrest Senior Living Group and equity partners Peninsula Alternative Real Estate and Corecam Capital Partners have completed Watercrest Myrtle Beach Assisted Living and Memory Care, a seniors housing community in Myrtle Beach. The community features 76 units of assisted living and 22 units of memory care.

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DevelopmentNew JerseyNews

Reuten Associates Plans 195-Unit Residences at Reuten Park in Closter, New Jersey

by Jeff Shaw

CLOSTER, N.J. — Reuten Associates has released site plans for the Residences at Reuten Park, a 195-unit luxury senior living development in Closter, approximately 15 miles north of Manhattan. Property owner Reuten Associates and developer Metropolis Property Group are seeking a variance to transform outdated industrial buildings at Reuten Corporate Park into a mix of independent living, assisted living and memory care. “The Residences at Reuten Park is a wonderful project that will convert an underutilized piece of industrial property into an upscale residential development that represents a new era …

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DevelopmentFloridaIndependent LivingNews

Validus Opens 169-Unit Inspirations at Town Center in Jacksonville

by Jeff Shaw

JACKSONVILLE, Fla. — Validus Senior Living  has opened Inspirations at Town Center, a 169-unit independent living community in Jacksonville. Located on 12.1 acres, the property features one- and two-bedroom options. Inspirations at Town Center is part of an ongoing relationship with Baxter Development LLC, a multi-generational, Iowa-based real estate development company.

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FinanceM&T Realty Capital CorporationMemory CareNewsOregon

M&T Realty Capital Provides $20M Financing for Memory Care Facility in Portland

by Jeff Shaw

PORTLAND, Ore. — M&T Realty Capital Corp. has arranged a $20 million FHA-insured loan to refinance a 98-unit memory care facility in Portland. The loan was completed under the U.S. Department of Housing and Urban Development (HUD) Federal Housing Authority (FHA) 232/223(f) program. At a 80 percent loan-to-value ratio, the non-recourse, 35-year, fully amortizing loan with a fixed interest rate below 2.4 percent refinanced M&T Realty’s bridge loan. Located within a designated Opportunity Zone, the FHA application was given priority treatment within the FHA queue resulting in the bridge loan …

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