MINNEAPOLIS — Helios has arranged a $7.5 million term loan and revolving line of credit for a Minnesota-based provider of specialty memory care services. Helios arranged the 18-month, interest-only financing in support of the borrower’s acquisition of a specialty memory care community in an affluent suburb of St. Paul. The community was stabilized at the time of the acquisition and originally developed by the borrower in partnership with a Chicago-based private equity firm. Prior to the financing, the borrower leased the community from the seller. The financing was sourced through …
COLUMBUS, Ohio — United Church Homes Management (UCHM) has taken over management of two seniors housing communities in Columbus: Bexley Heritage Apartments and Village Shalom Apartments. UCHM already manages Wexner Heritage Village in Columbus. Further details were not disclosed.
CHICAGO — JLL’s value and risk advisory platform has hired Daniel Schneider as an executive director within its seniors housing team. Schneider, who is based in Philadelphia, will support JLL’s clients in making informed decisions and evaluating risk in the growing seniors housing market. In addition, he will act as the HUD practice leader for seniors housing and oversee all HUD assignments nationally for the value and risk advisory platform. Prior to joining JLL, Schneider served as a first vice president at CBRE, where he executed complex transactions and provided …
ST. LOUIS and MIDDLETOWN, Pa. — Lutheran Senior Services (LSS), a faith-based, nonprofit operator based in St. Louis, has agreed to merge with Diakon Lutheran Social Ministries, a Middletown-based nonprofit operator. The agreement will bring Diakon’s senior living operations and four life plan communities under LSS management and form the 12th largest nonprofit seniors housing organization in the country, according to the two companies. The combined entity will features nearly $350 million in annual revenues across 12 life plan communities, one assisted living community and nine affordable seniors housing communities, as …
DOWNERS GROVE, Ill. — Lifespace has completed a $112 million expansion project at Oak Trace, a seniors housing community in Downers Grove, approximately 20 miles west of Chicago. The new building completed as the third and final phase of the project features 140 new luxury independent living apartments; a state-of-the-art fitness and aquatic center; a performing arts center; multiple restaurant-style dining venues; a salon and spa; and an upscale style coffee shop. The first phase of the renovation and expansion project, completed in 2019, was the creation of Oak Trace’s …
RICHMOND, Va. — Brinkmann Constructors, with Erickson Senior Living, has broken ground on a four-story, 109-unit residential building at Avery Point in Richmond. The 158,000-square-foot, wood-framed building is the seventh residential building constructed at the community. It is slated to welcome residents in the second half of 2025.
WISCONSIN — Helios has structured the sale and recapitalization of an assisted living and memory care provider in Wisconsin. A publicly traded regional lender provided the funds. Helios arranged the sale of non-performing assets assets in the portfolio to regional operators, including behavioral health providers in Wisconsin. The broker then repackaged the remaining performing assets, brought in a new operator, and arranged the debt to recapitalize the portfolio keeping the existing financial partner involved and retiring the operating partner and lender.
PHILADELPHIA — Berkadia has arranged the sale of two assisted living and memory care communities in the Philadelphia metropolitan area. Berkadia closed the 142-unit transaction on behalf of a publicly traded REIT. A private equity group purchased the assets for an undisclosed price.
ALLENTOWN, Pa. — Riverton Enhanced Senior Living, a continuing care retirement community (CCRC) in Allentown, has named Jennifer Simmers as its new executive director. Prior to her appointment, Simmers served as executive director of Oxford Crossings, a personal care community in Langhorne. With more than a decade of experience, she is a licensed physical therapist assistant and previously held a range of positions with Phoebe Ministries, including director of rehabilitation and personal care home administrator at the nonprofit’s Richland property.
SWEETWATER, Fla. — CREI Holdings has received a $67 million construction loan from Centennial Bank to build an affordable and workforce housing mid-rise building in Sweetwater, just west of Miami. Construction of Li’l Abner III is set to begin in the second quarter of this year, with completion expected in the second quarter of 2026. Coral Gables-based Burgos Lanza Architects and Planners designed the eight-story project, which features 328 one- and two-bedroom apartments. Of these, 40 percent will be designated for households with an income up to 80 percent of …