NORTH BRANFORD, Conn. — Capital One served as lead and administrative agent for a $52 million senior secured term loan to refinance Evergreen Woods, a continuing care retirement community in North Branford, Conn.
News
Berkeley Point Capital Closes $16.2M Freddie Mac Loan for Mass. Assisted Living Community
by Jeff Shaw
MALDEN, Mass. – Berkeley Point has closed a $16.2 million Freddie Mac 7-year floating rate term loan for Atria Senior Living and its partners. The loan refinanced existing first mortgage debt due to Mass Housing and facilitated the buyout of its tax credit equity partner.
ATLANTA — AdCare Health Systems, Inc. (NYSE MKT: ADK), (NYSE MKT: ADK.PRA), a long-term care provider, has signed an agreement with affiliates of Wellington Healthcare Services, an operator of long-term care facilities, to lease two of its skilled nursing facilities in Georgia. The move is part of AdCare’s ongoing strategic plan to transition from an owner and operator of healthcare facilities to a healthcare property holding and leasing company.
Tutera’s Mike Levitt Elected Vice President of the Missouri Board of Nursing Home Administrators
by Jeff Shaw
KANSAS CITY, Mo. — Mike Levitt, vice president and chief compliance officer for Tutera Senior Living & Health Care, has been elected vice president of the Missouri Board of Nursing Home Administrators. The two-year term began in January 2015. Appointed by Missouri Governor Jay Nixon, Levitt has served on the board since 2011.
With seniors housing property sales in 2014 hitting $17 billion – exceeding the $15 billion recorded last year – industry executives predict no slowdown in the acquisitions market in the year ahead. Capital continues to flood the sector from established and new players alike, as property prices are expected to continue to rise amid fierce competition for trophy facilities.
BURLINGTON, Wa. — A joint venture between Artemis Real Estate Partners and Chicago-based Focus Healthcare Partners LLC has sold Skagit Valley Senior Village, a 198-unit senior housing facility located in Burlington, Wa. Burlington is approximately 60 miles north of downtown Seattle. The property sold for $35 million.
TUSCON, Ariz. — Berkeley Point recently closed the refinancing of Copper Canyon Alzheimer’s Special Care Center, a 66-bed Alzheimer’s care community located in Tucson, Ariz. The cash-out refinancing was structured as a fixed-rate Fannie Mae 10- year loan term with a period of interest only.
LONGWOOD, Fla. — Orlando-based Roger B. Kennedy, Inc. has broken ground for the new $10.8 million, 123-unit Heritage Village Commons senior housing. The facility is near the same company’s newly started $18.5 million Weston Park at Longwood Station apartments across from Longwood’s SunRail station.