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 …
MOORESTOWN, N.J. — Resort Lifestyle Communities has completed Parkers Bend Retirement, an independent living community in Moorestown, approximately 10 miles east of Philadelphia. The company will hold a grand opening for the community on April 18. Although the number of units was not disclosed, they come in studio, one-, two- and three-bedroom plans.
BARRINGTON, Ill. — Berkadia has arranged the sale of a 45-unit assisted living and memory care community in Barrington, approximately 35 miles northwest of downtown Chicago. The Berkadia team of Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders represented the seller, a publicly traded REIT. A regional owner-operator acquired the property for an undisclosed price. Further details were not disclosed.
GOSHEN, Ind. — Evergreen Real Estate Group has completed Green Oaks of Goshen, a 120-unit assisted living community for low-income seniors in Goshen, a city in northern Indiana. Evergreen Construction Co., a division of Evergreen Real Estate Group, served as general contractor on the project, which recently welcomed its first residents and is currently 50 percent leased. Located at 282 Johnson St., the $30 million project replaces a vacant, three-acre lot on the city’s north side near an existing Salvation Army building. Bourbonnais, Ill.-based Gardant Management Solutions operates the four-story …
CHICAGO — Blueprint Healthcare Real Estate Advisors has negotiated the sale of three value-add seniors housing communities in western suburbs of Chicago. Opened between 1994 and 2000, the portfolio consisted of three geographically clustered communities, with two distinct managers, offering approximately 290 assisted living and memory care units and approximately 40 Medicare-only skilled nursing units. The communities struggled post COVID and presented a meaningful value-add opportunity, despite some recent capital improvements. Ultimately, the seller elected to divest the communities to preserve liquidity and simplify the portfolio. The buyer was a …
ILLINOIS — CFG, a subsidiary of CFG Bank, has provided two HUD loans totaling $13.6 million to refinance debt on two skilled nursing facilities in Illinois. The facilities accommodate a total of 173 beds. Further details were not disclosed. Tim Eberhardt and Ava Julio originated the transaction for CFG.
DAVENPORT, Iowa — Health Dimensions Group (HDG) has taken over management of Country Manor Memory Care in Davenport. Country Manor Memory care is the Quad Cities’ only freestanding memory care community, according to HDG. The community features 38 licensed beds. Further details were not disclosed.