ARKANSAS — Monticello has provided a $70 million, five-year loan to refinance a portfolio of seven skilled nursing facilities totaling 953 beds throughout Arkansas. The borrower is a regional operator. Further details on the loan and properties were not disclosed.
MILTON, Ga. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Brickmont Assisted Living, a 94-unit seniors housing community in Milton, approximately 30 miles north of Atlanta. The seller was a local developer that elected to exit this asset as it was the company’s first building and had reached the end of its investment horizon. The buyer was a Tennessee-based partnership looking to expand its southeast footprint in strategic markets. The price was not disclosed The community was built in 2016. Bradley Clousing and Daniel Geraghty handled the …
BOSTON — Berkadia has hired Stephanie Anderson as senior vice president and head of Berkadia’s seniors housing and healthcare operations. Anderson will work alongside head of FHA and Berkadia’s seniors housing finance, Steve Ervin. She will be based out of Boston. Prior to Berkadia, Anderson served as the national sales director for Housing & Healthcare Finance. She has held executive-level roles with Health Care REIT (now known as Welltower), GE Healthcare Finance and Ventas. She has been on the board of Genesis as well as both the American Seniors Housing …
CONYERS, Ga. — Phoenix Senior Living has completed the $1.63 million renovation of The Retreat at Conyers in Conyers, a suburb of Atlanta. Sayer Construction and 828 Interior Design Studio lead the eight-month construction project, which adds amenities such as indoor and outdoor dining options; a game room with shuffleboard and pool table; enhanced creative space for arts and crafts; and an intergenerational outdoor play area. The community features 78 independent living apartments, 30 personal care and 30 memory care apartments.
DAYTON, Ohio — Evans Senior Investments (ESI) has arranged the sale of Lincoln Park Manor, a 60-bed skilled nursing and 30-unit assisted living community in Dayton The property was built in 1988 with a $1.3 million renovation from 2019 to 2020. The community was not profitable at the time of marketing the offering, with skilled nursing census averaging 37 percent and assisted living census averaging 45 percent, resulting in a loss of over $1.5 million in net operating income. Contributing to the below average profitability was that the skilled nursing …
FAIRVIEW HEIGHTS, Ill. — IMPACT Strategies has promoted Teresa Whittaker to chief financial officer and Scott Manning to director of construction operations. Whittaker will execute IMPACT’s financial strategic initiatives, develop long-term financial goals and play an integral role in driving the success of IMPACT by monitoring financial performance. In this role, Whittaker will continue to lead IMPACT’s accounting team and human resources operations, identify critical trends and develop new company best practices, projections and solutions. Whittaker received her bachelor’s degree in accounting from Robert Morris College and worked in the …
LOUISVILLE, Ky., WINTER PARK, Fla., and TOLDEO, Ohio — In a blockbuster deal for seniors housing, the seventh-largest operator of seniors housing in the United States (Atria Senior Living) will acquire the third-largest (Holiday Retirement), with the largest owner in the country (Welltower) buying up a large portfolio of the affected assets. Atria, a privately held seniors housing operator based in Louisville, has agreed to buy the operations business of Winter Park-based Holiday Retirement. Meanwhile, Toledo-based REIT Welltower (NYSE: WELL) will buy the 86 properties that Holiday owns and self-manages …
MARLTON, N.J. — Walters has opened the doors at Cornerstone at Greentree, an income-restricted seniors housing community in Marlton, a suburb of Philadelphia. Situated on 2.3 acres in Burlington County, the four-story building features 68 one-bedroom and two-bedroom apartments, with rents starting at $850 per month. Apartments are leased exclusively to residents whose incomes are at or below 60 percent of the area median income. Rental rates are based on the renter’s gross annual income, according to the rent/income requirements chart. A staff social services coordinator is available upon request …
KEARNEY, Neb. — Ziegler, in partnership with M&T Realty Capital Corp., served as financial advisor in a $4.4 million Fannie Mae refinancing on behalf of Essex Communities. The loan will finance the existing debt on The Regency, an independent living community in Kearney, located along the Platte river in the southern portion of the state. The 10-year, fixed-rate loan was structured at a 75 percent loan-to-value ratio with two years of interest only payments, followed by 30 years of amortization. The loan also carries a declining prepayment schedule. The deal …
ROCHESTER, Minn. — Athem Memory Care has named Theresa Bigalk as executive director of Cascade Creek, a new Anthem Memory Care community scheduled to open this summer in Rochester. She will oversee all daily operations and care at the community. Bigalk most recently was operations manager for Jaybird Senior Living in Cedar Rapids, Iowa. Her two decades of experience also include serving as a senior living operations executive and director of social services throughout Minnesota. Bigalk received a bachelor’s degree in social work degree from Winona State University.