NORFOLK, Va. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Thornton Hall Nursing and Rehabilitation, a 60-bed skilled nursing facility in Norfolk. A skilled nursing investor with an expanding presence in Virginia made an unsolicited offer on the property, prompting the existing owner-operator to sell. The price was not disclosed. Steve Thomes and Michael Segal led the effort on behalf of Blueprint.
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CHATHAM, N.J. — M&T Realty Capital Corp. has provided a $12.1 million FHA-insured loan to refinance of a 108-bed skilled nursing facility in Chatham. The loan was completed under the U.S. Department of Housing and Urban Development (HUD) 223(f) program. The 35-year, fully amortizing loan features a fixed rate of 3.26 percent. The borrower and name of facility were not disclosed. Paula Quigley and Matt Pipitone of M&T Realty Capital’s Baltimore office, in collaboration with Jennifer Kooney of M&T Bank’s Tarrytown, N.Y. office, led the transaction. Quigley also serves as …
Oakmont Senior Living Names Melon Rivera as Executive Director for Oakmont of Novato Near San Francisco
by Jeff Shaw
NOVATO, Calif. — Oakmont Senior Living has named Melon Rivera executive director of Oakmont of Novato, a senior living community in Novato, located north of San Francisco. The community is under construction, with a scheduled opening in spring 2020. Rivera has worked in the senior living industry for about a decade. Before joining Oakmont Senior Living, he was executive director at Atria Tamalpais Creek. He also spent about five years with Brookdale in various roles. Rivera attended Santa Rosa Junior College and is also a licensed pharmacy technician.
AUSTIN, Texas — Senior Resource Group (SRG) has opened Maravilla at The Domain, the company’s first community in Texas. The project is located in the heart of the residential area of The Domain, a high-density mixed-use development in the North Burnet neighborhood of Austin. The community comprises an 11-story south tower, six-story central tower and seven-story north tower, with subterranean parking, courtyards and a swimming pool. Capitalizing on The Domain’s live-work-play environment, the 370,000 square-foot development offers 144 independent living, 54 assisted living and 34 memory care units. Residents have …
NAPLES, Fla. — Chicago Pacific Founders (CPF) and its subsidiaries, CPF Living Communities and Grace Management, have acquired Beach House, a 113-unit assisted living and memory care community in Naples. The community is located three miles from Naples’ Fifth Avenue District, close to shopping centers, medical facilities, recreation and entertainment venues. CPF plans to make investments to improve the campus. Grace Management will take over operations. The seller was not disclosed. Although the price was also not disclosed, KeyBank Real Estate Capital provided an $18.1 million bridge loan for the …
ROANOKE, Va. — M&T Realty Capital Corp. has provided a $12.9 million Fannie Mae loan to refinance a 55-unit seniors housing property in Roanoke. The 10-year loan features a fixed rate of 3.75 percent and a 30-year amortization. Matthew Pipitone of M&T Realty Capital Baltimore office, in collaboration with Nick Gent of M&T Bank’s Washington, D.C. office, led the transaction. The borrower and name of the community were not disclosed.
TEXARKANA, Texas — Blueprint Healthcare Real Estate Advisors has arranged the sale of Christian Care Center of Texarkana, a 114-bed skilled nursing facility in Texarkana. A public REIT sold the property to a regional provider for an undisclosed sum. Originally constructed in 1972, Christian Care Center of Texarkana was designed with three resident wings to offer rehabilitation, skilled nursing, cognitive care and long-term care. In recent years, overall census and quality mix declined, leading the operator to temporarily close one of the resident wings for efficiency and expense management purposes. …
TUCSON, Ariz. — Watermark Retirement Communities, a Tucson-based operator, has hired Aras Erekul to the new position of national director of integrative well-being. Erekul was most recently the corporate director of experience development at the wellness lifestyle and luxury spa resort organization Canyon Ranch. He will be responsible for bringing together a wide range of practices and programs for Watermark residents and associates. “The senior living profession is evolving to embrace a deeper understanding of holistic approaches to health and wellness,” says Erekul. “I look forward to serving as the …
DURHAM, N.C. — CBRE has arranged an $18 million loan to refinance debt on Bartlett Reserve, a 100-unit independent living community in Durham. The borrower is Focus Healthcare Partners. CBRE also arranged the acquisition financing for Focus in 2017. Aron Will, Austin Sacco and Tim Root of CBRE National Senior Housing originated the floating-rate loan through Fannie Mae.
DALLAS, GREENVILLE, S.C. and SANTA FE, N.M. — Dallas-based architecture firm “three” has completed design work on three seniors housing communities — expansions in Dallas and Greenville, and a ground-up development in Santa Fe. Locally, three is leading a $35 million repositioning effort for Presbyterian Village North, owned and operated by nonprofit Presbyterian Communities and Services. The project will add 112 independent living units and a 30,000-square-foot commons building at the campus core. In South Carolina, for the single-site Woodlands at Furman community in Greenville, the firm designed a $19 million …