Pennsylvania

SLIB Brokers $11M Sale of Skilled Nursing Facility Portfolio in Metro Pittsburgh

by Hayden Spiess December 20, 2024

PITTSBURGH, Pa. — Senior Living Investment Brokerage (SLIB) has brokered the $11 million sale of a skilled nursing facility portfolio located in Pennsylvania. Situated primarily within metro Pittsburgh, the portfolio comprises 299 beds across five properties. Originally built between 1964 and 1992, the portfolio was first marketed in fall 2023. Ryan Saul and Toby Siefert of SLIB represented the seller, Guardian Healthcare, in the transaction. According to SLIB, Guardian Healthcare is currently in bankruptcy proceedings, and the properties had struggled financially prior to the sale. A regional owner-operator was the buyer.

December 20, 2024

Keystone Villa at Douglassville in Douglassville, Pennsylvania

Assisted Living Finance Independent Living Memory Care News Pennsylvania

BWE Secures $57.8M Loan to Refinance Senior Living Community in Douglassville, Pennsylvania

by Channing Hamilton December 4, 2024

DOUGLASSVILLE, Pa. — BWE has arranged a $57.8 million loan to refinance Keystone Villa at Douglassville, a 247-unit, Class A independent living, assisted living and memory care community in Douglassville, located about 15 miles southeast of Reading, Pennsylvania. Ryan Stoll, national director of seniors housing and care at BWE, and Taylor Mokris, senior vice president of seniors housing and care, secured the loan from a national commercial bank. The borrower was a joint venture between privately held real estate investment trust ReNew REIT and operator Heritage Senior Living. The nonrecourse loan features …

December 4, 2024

Acquisitions News Pennsylvania Skilled Nursing

Blueprint Arranges Sale of Nine Skilled Nursing Facilities in Metro Pittsburgh

by Hayden Spiess November 15, 2024

PITTSBURGH — Blueprint has arranged the sale of nine skilled nursing facilities located in metro Pittsburgh. Kadima Healthcare Group acquired the properties from Comprehensive Healthcare Management Solutions, which is currently undergoing restructuring following a Chapter 11 bankruptcy filing this May. The chief restructuring officer for Comprehensive Healthcare Management Solutions engaged Blueprint to handle the divestiture. Operated under two brands — Maybrook and Consulate — the facilities together comprise 930 licensed skilled nursing beds, 19 personal care beds and 15 independent living units.

November 15, 2024

Affordable Housing Development Finance News Pennsylvania

Berkadia Secures $13.6M Financing for Affordable Seniors Housing Development in Philadelphia

by Channing Hamilton November 5, 2024

PHILADELPHIA — Berkadia has secured a $13.6 million Low-Income Housing Tax Credit (LIHTC) equity investment for the development of Clearfield Apartments, a 48-unit affordable seniors housing community in Philadelphia’s Allegheny West neighborhood. Chris McGraw, senior vice president based in Berkadia’s Charlotte, N.C. office, secured the equity investment on behalf of the sponsor, NewCourtland. When completed, Clearfield Apartments will consist of 48 one-bedroom units in one four-story, elevator-serviced building serving seniors age 62 and above. All 48 units will operate under a project-based rental subsidy through the Faircloth-to-Rental Assistance Demonstration (RAD) program. …

November 5, 2024

Assisted Living Finance Independent Living Maryland Memory Care News Pennsylvania Washington, D.C

Mesa West Provides $114M in First-Mortgage Debt to Refinance Two Seniors Housing Communities in suburbs of Philadelphia, Washington, D.C.

by Channing Hamilton October 4, 2024

MALVERN, Pa., and KENSINGTON, Md. — Mesa West Capital has provided AEW Capital Management LP with $114.6 million in first-mortgage debt across two loans to refinance the seniors housing communities of Echo Lake in Malvern and Modena Reserve at Kensington in Kensington. Terms of the loans were not disclosed. AEW delivered the 250-unit Echo Lake to the market in 2020 alongside joint venture partner Sage Senior Living Inc., which operates the community. Located about 27 miles northwest of Philadelphia in Malvern, Echo Lake offers a mix of independent and assisted …

October 4, 2024

Garden Spot Village in New Holland, Pennsylvania

Finance News Pennsylvania

Ziegler Closes $67.3M Tax-Exempt Bond Financing for Garden Spot Village in Southeast Pennsylvania

by Channing Hamilton September 13, 2024

NEW HOLLAND, Pa. — Specialty investment bank Ziegler has closed on an approximately $67.3 million tax-exempt bond financing for Garden Spot Village in New Holland, located about 14 miles northeast of Lancaster, Pa. Ziegler served as underwriter in the transaction. The obligated group consists of Garden Spot Village (the “Corporation”) and its subsidiary, GSV LLC. Garden Spot Village is a not-for-profit Pennsylvania corporation that owns and operates a life plan community, known as Garden Spot Village, located on an approximately 220-acre campus in New Holland. The community includes 621 independent living homes …

September 13, 2024

Acquisitions CCRC News Pennsylvania

ESI Arranges Sale of Continuing Care Retirement Community in Southwest Pennsylvania

by Channing Hamilton September 12, 2024

SOMERSET, Pa. — Evans Senior Investments (ESI) has arranged the sale of The Patriot, a continuing care retirement community (CCRC) in Somerset, located in southwest Pennsylvania. The transaction was executed on behalf of a non-profit organization. The sales price was not disclosed. The CCRC features a diversified unit mix, including 100 licensed skilled nursing beds, 47 personal care units, and two independent living units. At the time of marketing, the skilled nursing component of the community was 77 percent occupied while the personal care beds were 47 percent occupied. Financial …

September 12, 2024

Affordable Housing Development News Pennsylvania

Pennrose Breaks Ground on 55-Unit Good Shepherd Affordable Community in Philadelphia

by Jeff Shaw August 16, 2024

PHILADELPHIA — Pennrose, Wynnefield Overbrook Revitalization Corporation (WORC) and other project partners have broken ground on Good Shepherd, a 55-unit, affordable seniors housing community at the site of the former Good Shepherd Presbyterian Church in the Overbrook neighborhood of Philadelphia. The project is slated to be completed in Fall 2025. The four story, 53,000 square foot affordable housing community will offer one-bedroom apartments for seniors earning between 20 percent and 60 percent of the area Mmdian income (AMI), about $430 to $1,290 for a one-person household. The sustainable building will …

August 16, 2024

Acquisitions News Pennsylvania

Walker & Dunlop Negotiates Sale of 146-Unit Mercer Hill at Doylestown in Pennsylvania

by Jeff Shaw August 7, 2024

DOYLESTOWN, Pa. — Walker & Dunlop Investment Sales has arranged the sale of Mercer Hill at Doylestown, a seniors housing community in Doylestown, approximately 30 miles north of Philadelphia. The property features 146 units of independent living, assisted living and memory care. It was constructed in 2022. The buyer was a public healthcare REIT. The seller and price were not disclosed. Joshua Jandris, Brett Gardner and Tom Falkenberg led the Walker & Dunlop team.

August 7, 2024

Acquisitions Assisted Living Finance News Pennsylvania

Ziegler Arranges $6.4M Acquisition Financing for Silver Springs at East Norriton in Pennsylvania

by Jeff Shaw August 6, 2024

EAST NORRITON, Pa. — Ziegler has arranged $6.4 million in financing for the acquisition of a 114-unit assisted living and memory care community in East Norriton, a suburb northwest of Philadelphia. The buyer is Comprehensive Care Capital, which plans to rebrand the property from Brandywine Living at Senior Suites to Silver Springs at East Norriton. Christopher Utz of Ziegler Investment Banking arranged and negotiated the transaction. Cura Health will oversee daily operations.

August 6, 2024

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