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Blueprint Brokers Sale of Two Skilled Nursing Facilities in East Texas

by Jeff Shaw

TEXAS — Blueprint Healthcare Real Estate Advisors has arranged the sale of two skilled nursing facilities totaling 320 licensed beds in East Texas. Following historical census lows and staffing challenges endured as a result of the pandemic, the two facilities were positively trending back towards historically achieved stabilized levels when the seller sought an exit. Further enhancing the attractiveness of the opportunity was the assumable HUD debt featuring an interest rate of 2.9 percent and a remaining term of over 25 years. Details on the buyer, seller and price were …

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AcquisitionsAssisted LivingCaliforniaNews

Sherman & Roylance Negotiates $8.3M Sale of Community in Monterey, California

by Jeff Shaw

MONTEREY, Calif. — Sherman & Roylance has arranged the $8.3 million sale of a 55-bed assisted living and memory care community in the Central Coast city of Monterey. A San Diego-based husband and wife team purchased the asset from a new player in the seniors housing sector looking to focus on different geographic areas. The multi-phased campus was originally built in 1955 and expanded in 1999. Shep Roylance, John Sherman and Chris Minnery of Sherman & Roylance arranged the transaction.

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DevelopmentMassachusettsNews

LCS Opens 223-Unit The Delaney at The Vale in Woburn, Massachusetts

by Jeff Shaw

WOBURN, Mass. — LCS has completed construction of The Delaney at The Vale in Woburn, a suburb north of Boston.  The community features three connected buildings with 103 apartments for independent seniors, 84 assisted living apartments and 36 memory care apartments. In addition to seniors housing section, The Vale also offers new retail and office space, new landscaped areas and walking paths, preservation of 28 acres of undeveloped land, restoration of nearly 15,000 square feet of wetlands and a new connection between the site and the existing Tri-Community Greenway. Life …

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AcquisitionsAssisted LivingMissouriNews

JLL Arranges Sale of Three-Community Portfolio in Missouri

by Jeff Shaw

WILDWOOD, TOWN & COUNTRY and KANSAS CITY, Mo. — JLL Capital Markets has arranged the sale of three seniors housing communities in Wildwood, Town & Country and the Burlington Creek area of Kansas City. The buyer was a joint venture between Artemis Real Estate Partners, Scarp Ridge Capital Partners and Arrow Senior Living. The seller and price were not disclosed. JLL represented the seller and procured the buyer spearheaded by Scarp Ridge and capitalized by Artemis. Arrow Senior Living is taking over operations of the three communities. The acquisition is …

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FinanceNewsWashington

CFG Arranges $15.4M Financing for Truewood by Merrill, First Hill in Seattle

by Jeff Shaw

SEATTLE — Capital Funding Group (CFG) has arranged a $15.4 million bridge loan to refinance debt on Truewood by Merrill, First Hill, a 98-unit independent living, assisted living and memory care community in Seattle.  CFG closed the financing on behalf of the joint-venture ownership. Further details were not disclosed.

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MarylandNewsPeople

Lutheran Social Ministries of Maryland Names Lisa Pearre as Vice President of Marketing, Communications

by Jeff Shaw

WESTMINSTER, Md. — Lutheran Social Ministries of Maryland (LSMMD) has hired Lisa Pearre as vice president of marketing and communications.  Pearre leads the strategic marketing and communications efforts for Westminster-based LSMMD and its communities: Carroll Lutheran Village in Westminster and Lutheran Village at Miller’s Grant in Ellicott City. Pearre joins LSMMD with over 20 years’ senior living marketing and sales agency experience. As a thought leader and advisor for nonprofit senior living organizations, she has guided teams through various challenges, including start-up communities, major expansion projects, occupancy turnaround, community repositioning …

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CCRCDevelopmentNewsSouth Dakota

Sanford Health Plans 330-Unit CCRC in Sioux Falls, South Dakota

by Jeff Shaw

SIOUX FALLS, S.D. — Sanford Health has announced plans to build Good Samaritan Society – Founder’s Crossing, a continuing care retirement community (CCRC) in Sioux Falls.  The developer plans to break ground this spring. The first phase of the project calls for 146 independent living villas, 120 independent living apartments, 32 assisted living apartments and 32 memory care apartments, due for delivery in 2026.  A second phase over the following two years will add a short-term rehabilitation and long-term care center, additional villas, a Sanford Health clinic and a Lewis …

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AcquisitionsFeaturesIdahoNews

Asset Consolidation Will Continue in the Boise Metro Seniors Housing Market

by Jeff Shaw

— By Blake Bozett, founder and CEO, The Zett Group — The Boise metro (Boise, Eagle, Meridian, Garden City) is made up of 75 licensed assisted living facilities, 42 of which have more than 30 licensed beds. Of those 42 assisted living facilities, the ownership type is made up of: national owner/operator (18), local owner/operator (12), REIT (4), regional owner/operator (3), local development company (2), privately held real estate investment firm (1), 1031 investment platform (1) and non-profit (1). These ownership stats aren’t necessarily unique to other metros such as …

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AcquisitionsNews

Berkadia Arranges Sale of 112-Unit Seniors Housing Community in Atlanta’s Buckhead District

by Jeff Shaw

ATLANTA — Berkadia’s Seniors Housing & Healthcare team has arranged the sale of Brighton Gardens of Buckhead, a 112-unit seniors housing community in Atlanta’s Buckhead district. Metro Atlanta-based PruittHealth purchased the asset from Indianapolis-based Prime Care One LLC for an undisclosed price. Cody Tremper, Mike Garbers, Dave Fasano and Ross Sanders of Berkadia represented the seller in the transaction. Additionally, Jay Healy of Berkadia arranged a $13 million bridge-to-HUD loan for the acquisition of Brighton Gardens, as well as the refinancing of two separate skilled nursing facilities in Georgia. The …

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Affordable HousingDevelopmentFinanceNewsPennsylvania

HumanGood Receives $26.5M HUD Financing for Green Retrofit Projects in Philadelphia 

by Jeff Shaw

PHILADELPHIA — The U.S. Department of Housing and Urban Development (HUD) has awarded HumanGood $26.5 million in financing from the Green and Resilient Retrofit Program (GRRP), which provides funding for direct loans and grants to HUD-assisted multifamily properties to make sustainability updates.  The following HumanGood affordable housing communities in Philadelphia were the only properties in Pennsylvania to receive the award in the comprehensive category in its first wave: The funds will help HumanGood meet sustainability goals, assisting in the renovation and preservation of 329 affordable seniors housing units. President Biden’s …

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