REDDING, Calif. — Ray Stone Inc. has acquired River Oaks Retirement Community, a 102-unit independent living community in Redding, approximately 160 miles north of Sacramento. The price was not disclosed.
News
WINCHESTER, Va. — CBRE has arranged a $7.4 million loan for a joint venture between Care Investment Trust and affiliates of Inspirit Senior Living. The capital will be used to purchase Hilltop House Assisted Living, a 73-unit independent living, assisted living and memory care community.
Already facing a labor shortage, the U.S. seniors housing industry could be dealt a “devastating” blow if president-elect Donald Trump were to limit the number of lower-wage immigrants coming into the country in order to accommodate an increased number of high-wage skilled immigrants, says Jeff Sands, managing principal and general counsel for HJ Sims. “It’s a real issue this industry is grappling with,” especially given the growing number of facilities.
CBRE Arranges $33.2M Acquisition Loan for 139-Unit Assisted Living Community in Minnesota
by Jeff Shaw
EDINA, Minn. — CBRE has arranged a $33.2 million loan for a joint venture between The Waters Senior Living and an undisclosed institutional investor. The capital will be used for the acquisition of The Waters of Edina, a 139-unit assisted living and memory care community in the Minneapolis suburb of Edina.