WISCONSIN — Ziegler has arranged the sale of an 80-bed skilled nursing and assisted living facility in Washburn County, Wisconsin. The seller was a 501(c)(3) nonprofit organization serving elderly and disabled people across the Upper Midwest. A local operator acquired the asset for an undisclosed price.
QUINCY, Mass. — Nixon Peabody LLP has negotiated a Green & Resilient Retrofit Program (GRRP) transaction for Bauer House, a seniors housing community in the Boston suburb of Quincy. Wollaston Lutheran Church owns the property. The transaction also involved a Rental Assistance Demonstration (RAD) conversion and FHA-insured Section 223(f) loan originated by Hampden Park Capital and made by Lument Real Estate Capital. Bauer House, a subsidized residence for independent seniors, will use the GRRP funds and FHA-insured loan proceeds to finance a new energy-efficient HVAC system and to make accessibility …
MARYLAND — Capital Funding Group (CFG) has provided a $20 million bridge-to-HUD loan to refinance debt on a 125-bed skilled nursing facility in Maryland. Tim Eberhardt and Ava Julio led the CFG team. Further details were not disclosed.
LAS CRUCES, N.M. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 50-bed transitional care facility in Las Cruces, approximately 45 miles northwest of El Paso, Texas. The community was built in 2017 and is strategically located within two miles of three short-term acute care hospitals that offer Medicare referral opportunities. With trailing EBITDAR (earnings before interest, taxes, depreciation, amortization, and restructuring or rent costs) approaching $745,000 at the time of marketing, the facility presented an acquisition opportunity for a regionally focused owner-operator to realize immediate cash …
RANCHO SANTA FE, Calif. — Belmont Village Senior Living and Greystar Real Estate Partners have unveiled plans for Belmont Village Rancho Santa Fe, a luxury active adult community in Rancho Santa Fe, approximately 25 miles north of San Diego. Groundbreaking is scheduled to occur before the end of the year. The project will feature over 185 apartments including 15 freestanding cottages. The leaders of both Greystar and Belmont Village, Jerry Brand and Patricia Will, are long-term residents of Rancho Santa Fe. Belmont Village Rancho Santa Fe will be Belmont Village’s …
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.