NORTH CAROLINA and KENTUCKY — Monticello has provided $117 million in first lien debt financing for the acquisition of 12 skilled nursing properties and the refinance of one other in North Carolina and Kentucky. The skilled nursing portfolio totals 1,357 beds. The names and specific locations of the properties were not disclosed. The transaction also includes a $10 million working capital loan to the operating companies of the properties provided by Monticello’s asset-based lending group, Monticello Commercial Capital LLC. The borrower is an experienced owner and operator with a current …
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ALEXANDRIA, Va. — Argentum, an Alexandria-based association serving seniors housing operators, has received a grant to develop and expand nationwide apprenticeships in senior living and related allied health occupations. The U.S. Department of Labor awarded nearly $6 million for Argentum’s Healthcare Apprenticeship Expansion Program (HAEP), following a national competitive process. The four-year grant will expand workforce development in the senior living industry. The project will bring together senior living operators, universities, nonprofit organizations, workforce agencies and other partners including select hospital systems and allied health providers. The partnership projects attaining …
PORTLAND, Ore. — Norris & Stevens has brokered the sale of Laurelhurst House, a 38-unit assisted living community in Portland. LHH Property acquired the 22,612-square-foot property from Laurelhurst House LLC for $4.6 million. The property was 100 percent occupied. The seller was the original developer, which built the three-story community in 2000. Todd VanDomelen and David Chatfield of Norris & Stevens represented the seller in the transaction.
AUSTIN, Texas — Catalyst, an Austin-based marketing and advertising agency specializing in multifamily, student and senior living real estate marketing, has promoted Christy McFerren to managing director. Catalyst hired McFerren in 2014 as senior designer. During her tenure she has held several positions including creative director, strategy and operations director, and vice president. In the last six months, McFerren led the Catalyst team in repositioning the company’s brand and service offerings, recruiting an experienced sales team, securing two critical long-term partnerships in the seniors housing and multifamily space, and increasing …
ALEDO, Texas — Civitas Senior Living, a senior living management company, and Journey Capital, a seniors housing development company, have unveiled plans for Harvest Senior Living in Aledo, approximately 15 miles west of downtown Fort Worth. The 68,000-square-foot community will be situated on 7.5 acres featuring 20 independent living villas, 70 assisted living units and 20 memory care residences. Harvest of Aledo is near Walsh Ranch, a $6 billion master-planned community that will eventually add up to 50,000 residents and more than 15,000 upscale homes to the area. “The greater …
CIT Arranges Financings Totaling $93.7 Million for New Generation Health, Genesis Healthcare
by Jeff Shaw
NEW YORK CITY — CIT Group Inc. (NYSE: CIT) has served as the lead arranger of $93.7 million in combined financing for 19 healthcare facilities in California, Nevada and Washington between New Generation Health LLC and affiliates of Genesis Healthcare Inc. New Gen, a healthcare consulting firm specializing in the operation of skilled nursing facilities in the Western portion of the United States, will provide management and/or consulting services for the 19 healthcare facilities. Affiliates of Genesis will continue to provide certain administrative, back-office and therapy services to the facilities. …
BOUNTIFUL, Utah — CareTrust REIT Inc. (NASDAQ:CTRE) has acquired Barton Creek Senior Living, a 62-unit assisted living facility located on the campus of Lake View Hospital in Bountiful, a suburb of Salt Lake City. The acquisition price of the off-market transaction was not disclosed. The Barton Creek facility has been added to CareTrust’s existing master lease with seniors housing operator Bayshire LLC. For the seller, the nonprofit South Davis Community Hospital Campus, the sale was part of a strategic decision to focus on its adjacent higher-acuity operations. The property will …
FORT WASHINGTON, Pa. — Acts Retirement-Life Communities, a nonprofit operator based in Fort Washington, has added William Reynolds and Michael Kelly to its board of directors. The Acts Board represents a diverse group of volunteer members who serve without compensation. Reynolds is a resident of The Evergreens, an Acts community in Moorestown, New Jersey. He served as a teacher and administrator in public and private schools and at the University of Pennsylvania. Later he had a more than 20-year career as founder and senior partner in Reynolds & Schaeffer Associates …
CBRE Hires Seniors Housing Financing Expert Joshua Hausfeld as Executive Vice President
by Jeff Shaw
BETHESDA, Md. — CBRE has hired Joshua Hausfeld as a debt and structured finance professional within the company’s national seniors housing practice. Hausfeld will be an executive vice president based in CBRE’s Bethesda office, specializing in agency loans for healthcare and seniors housing properties, including independent living, assisted living, memory care and skilled nursing facilities. Hausfeld will lead CBRE’s HUD 232 origination efforts nationally, and partner with CBRE National Senior Housing professionals Aron Will, Austin Sacco and Lisa Widmier. Prior to joining CBRE, Hausfeld was a managing director at SunTrust …