BASTROP and MINDEN, La. — Helios Healthcare Advisors served as the exclusive buy-side advisor and debt-placement agent in structuring the purchase of two assisted living communities in North Louisiana. The buyer is an independent investment group based in Texas and Louisiana. Savannah Court of Bastrop and Savannah Court of Minden are two assisted living communities that were owned by a public REIT and operated by a regional provider under a triple-net lease. Built in the late 1990s, both communities boasted a historical average occupancy of 90 percent and maintained positive …
SEATTLE — Aegis Living has opened Aegis Living Laurelhurst in the Laurelhurst neighborhood of Seattle, near the University of Washington (UW). The six-story building features 147,911 square feet of space and 136 assisted living apartments. Aegis Development LLC is the developer, Ankrom Moisan Architects is the architecture firm and Exxel Pacific is the general contractor. Aegis Living Laurelhurst is Aegis’ 38th community and the second one to open this year.
CLAYTON, Mo. — Berkadia has arranged a refinancing for Clarendale Clayton, a 283-unit continuum-of-care community in the St. Louis suburb of Clayton. Austin Sacco of Berkadia Seniors Housing & Healthcare arranged financing through a national bank on behalf of the borrower, a joint venture between Harrison Street, Ryan Cos. US Inc. and Life Care Services (LCS). The $82.5 million, floating-rate loan features five years of interest-only payments.
MEQUON, Wis. — Lifespace Communities has hired Chris Andersen as executive director at Newcastle Place in Mequon, a northern suburb of Milwaukee. Andersen has 29 years’ experience in healthcare and senior living, including previously serving at Lifespace as executive director at Beacon Hill, Claridge Court, and Oak Trace from 2004 to 2013. Most recently, he served as executive director at Oakmont Senior Living for the Simi Valley and Riverpark campuses. Andersen earned his bachelor’s degree in business administration summa cum laude from Capella University and is a Licensed Nursing Home …
MILWAUKEE and WEST FARGO, N.D. — BMO’s Healthcare Real Estate group has provided a $70 million bridge loan for a joint venture between New Perspective Senior Living, Boldt Capital and Fengate Asset Management. The loan is secured by three senior living communities totaling 435 units located in suburban Milwaukee and West Fargo. Loan proceeds include capital allocated for future capital improvements and value enhancement. Further details were not disclosed.
CLEVELAND — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 102-unit independent living community in a Cleveland suburb. The property was constructed in the late 1980s. The buyer was a private, Northeast-based investor. Further details were not disclosed. Connor Doherty and Ryan Kelly led the Blueprint team.
HAYWARD, Calif. — Integral Senior Living has named Jeff Jhunell Sumabat as executive director of Bellara Senior Living, a new senior living community situated east of San Francisco in Hayward. The community offers independent living, assisted living and memory care. After he earned bachelor’s degrees in nursing and clinical laboratory technology, Sumabat’s career began in nonprofit and civil service work in the Philippines. After moving to the U.S., he cultivated a passion for senior living, holding roles as a resident services director, memory care director, executive director and, most recently, …
FREEHOLD, New Jersey and TAMPA, Fla. — Distinctive Living, a New Jersey-based seniors housing operator and developer that is expanding nationally, has acquired Validus Senior Living Management, a Tampa, Florida-based operator. Headquartered in Freehold, N.J., Distinctive Living currently operates 46 communities and has 14 under development via its development services platform, Distinctive Living Development LLC. More specifically, the company operates and is developing active adult, assisted living, independent living, and memory care communities throughout the country. Validus is an owner, operator and third-party manager of senior living communities throughout the Southeast. …
SAN DIEGO — Community HousingWorks (CHW) has opened Puesta del Sol Apartments, a 59-unit affordable seniors housing community in the Linda Vista neighborhood of San Diego. Puesta del Sol apartments are reserved for households earning 30 to 60 percent of the area median income and the community has been awarded 59 project-based vouchers to ensure access for the most income-vulnerable residents. Additionally, six of the 59 vouchers will serve chronically homeless. Built adjacent to CHW’s Amanecer Apartments on Ulric Street, Puesta del Sol completes the combined intergenerational community. Together, Puesta …
MIAMI — Dwight Capital and its affiliate REIT, Dwight Mortgage Trust, which are both headquartered in Miami, financed $152.5 million in seniors housing during first-quarter 2024. Among the transactions were a $44 million bridge loan for a skilled nursing facility in the Southwest and $26 million in HUD financing for River Towne Center and Etowah Landing, a skilled nursing portfolio in Georgia. This Southeast transaction involves a 369-bed facility which rises seven stories on three acres and totals 117,000 square feet. The bridge loan, which closed in conjunction with a …