LOUISIANA — Blueprint Healthcare Real Estate Advisors has arranged sale of a portfolio of five seniors housing communities located throughout Louisiana. The Georgia-based owner-operator, which originally developed the communities in the late 1990s, chose to sell the properties to focus on its home-state portfolio. A joint venture partnership between California-based Griffin-American Healthcare REIT IV and Georgia-based Senior Solutions Management Group (SSMG) acquired the portfolio. The price and specific names of the properties were not disclosed. Brooks Blackmon and Steve Thomes facilitated the transaction for Blueprint.
News
Harmony Senior Services Appoints Steve Martin as Chief Operations Officer, Margaret Cabell as Chief Marketing Officer
by Jeff Shaw
CHARLESTON, S.C. — Harmony Senior Services, a Charleston-based operator, has hired Steve Martin as chief operations officer and Margaret Cabell as chief sales and marketing officer. Martin has 33 years of experience in seniors housing. He started in skilled nursing and moved into assisted living in 1993, working with major senior living organizations such as Atria, Merrill Gardens and Horizon Bay. Most recently he spent 19 years with Brookdale Senior Living as the senior vice president of regional operations with oversight of 90 communities in Florida and Georgia. Martin earned …
WINDSOR, Calif. — Oakmont Senior Living has promoted Matt Stevenson to chief operating officer. Stevenson served as senior vice president of operations since joining Oakmont Management Group in 2018. Before joining Oakmont, he was vice president of operations for Belmont Village Senior Living. Stevenson has more than 14 years of experience in the senior living space, managing communities across multiple states. His experience includes operations management, financial analysis, strategic planning, project management, oversight of new development and the integration of technology platforms. Windsor-based Oakmont has been in growth mode since …
GREENVILLE, S.C., and NAPLES, ST. PETERSBURG and CLEARWATER, Fla. — Inspirit Senior Living has acquired a portfolio of four seniors housing properties located throughout the west coast of Florida and in South Carolina. Formerly operated by Brookdale Senior Living, the communities have been rebranded as The Collier at Naples in Naples, The Pointe in St. Petersburg, The Landmark in Clearwater and The Parker in Greenville. Inspirit formed a joint venture with Venue Capital LLC, an investment and asset management firm that partners with regional operators, for the acquisition. Inspirit and …
Lancaster Pollard Provides $4.9M HUD Refinancing for Marjorie House Memory Care in Oregon
by Jeff Shaw
MCMINVILLE, Ore. — Lancaster Pollard has arranged a $4.9 million HUD loan to refinance Marjorie House, a 45-bed memory care community in McMinnville, approximately 35 miles southwest of Portland. Senior Development Resources operates the community. The borrower is Giza Development, which used the original bridge loan from OREC Structured Finance Co. to buy out other investors and refinance construction debt. Under HUD rules, the project was immediately available for permanent refinancing, and Giza received long-term rate through the FHA Section 232/223(f). Ross Holland led the transaction for Lancaster Pollard.
CANTON, Ohio — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 74-unit assisted living and skilled nursing facility in Canton. A local owner-operator seeking retirement sold the property to a regional developer, owner and operator for an undisclosed price. The name of the community was not released. The property was constructed in 2016. It was cash-flow neutral at the time of sale, so was marketed as a value-add opportunity. The incoming owner-operator plans to de-license the skilled nursing beds, introduce memory care, bring in new leadership and …
WINDSOR, Calif. — Oakmont Senior Living, a Windsor-based operator, has named Mandy Curtis as vice president of health services. In this new role, Curtis will ensure quality of care for residents. Curtis has experience both as a clinician and an administrator, having served across a spectrum of healthcare industries including acute and critical care, skilled nursing, long-term care, seniors housing and home care. Before joining Oakmont, she was corporate director of health services for Seasons Living, a multi-state owner-operator of seniors housing communities. Curtis earned her master’s degree in nursing …
PHILADELPHIA — Pennrose, a Philadelphia-based developer and operator of multifamily properties including seniors housing, has hired Michelle Militello as vice president of asset management. Militello will focus on the financial performance and value of the Pennrose portfolio. She will be responsible for analyzing, measuring and reporting on property financial metrics. For the past 10 years, Militello served as vice president of tax credit equity investments for Bank of America, where she was the senior asset manager responsible for approximately 50 direct LIHTC investments. Her 20-plus years of industry experience also …
MECHANICSBURG and ERIE, Pa. — HJ Sims has arranged a $96.1 million bond refinancing for two seniors housing communities in Pennsylvania. The borrower is Asbury Communities Inc., a nonprofit operator with six communities in Maryland, Tennessee and Pennsylvania. The communities involved in this transaction are Bethany Village in Mechanicsburg, a suburb of Harrisburg, and Springhill in Erie. Bethany Village opened in 1964 and contains an east and west campus. The east campus consists of 95 residential cottages, 94 court apartments, 26 rental apartments, administrative offices and amenities. The west campus …
Dane Real Estate Negotiates $19.1M Sale of York Towne House Affordable Community in Pennsylvania
by Jeff Shaw
YORK, Pa. — Dane Real Estate has arranged the sale of York Towne House, an affordable seniors housing community in York, approximately halfway between Harrisburg and Baltimore. The price was $19.1 million. Neither the buyer nor the seller were disclosed. The 10-story building was constructed in 1979 and features 201 units. All apartments are reserved for the elderly under the Section 8 program. Heidi Burkhart of Dane Real Estate arranged the transaction.