OHIO and PENNSYLVANIA — VIUM Capital has arranged $26.3 million in debt fund financing and $63.1 million in balance sheet financing for the acquisition of nine assisted living communities in Ohio and Pennsylvania. The borrower is a Minnesota-based owner-operator, which has planned capital improvements at the 580-unit portfolio. Further details were not disclosed.
ALLENTOWN, Pa. — Evans Senior Investments (ESI) has arranged the sale of an 80-unit assisted living community in Allentown. An independent owner-operator sold the property to Hamister in an all-cash transaction. The price was not disclosed. The property was built in the 1980s, is 100 percent private pay and received in-place rates just shy of $5,000 a month. At the time of marketing, the community was 94 percent occupied and making over $800,000 in net operating income. Along with the community’s strong surrounding demographics, the facility implemented a rate increase …
WYNNEWOOD, Pa. — Lument Securities has served as exclusive financial advisor to the board of directors of Saunders House, a nonprofit skilled nursing facility, on its sale to a regional private operator. The property is located in the first-ring Philadelphia suburb of Wynnewood and features 180 beds. Laca Wong-Hammond and Dominic Porretta led the transaction for Lument Securities. Saunders House dates back to 1864 when it opened as the Old Man’s Home of Philadelphia. The current facility, which is located adjacent to Lankenau Medical Center, opened in 1973 and underwent …
WEST CHESTER, Pa. — Blueprint Healthcare Real Estate Advisors has negotiated the sale of a 180-bed skilled nursing facility in West Chester, approximately 25 miles west of Philadelphia. Blueprint’s marketing efforts and financial projections highlighted the state’s July 2022 announcement to significantly increase Medicaid reimbursements in 2023, with over $500 million allocated to long-term care facilities. Tryko was the buyer and will rebrand the asset as West Chester Rehabilitation & Healthcare Center. The seller and price were not disclosed.
PITTSBURGH, INDIANAPOLIS AND LOUISVILLE, Ky. — CBRE has brokered the sale of four active adult communities totaling 481 units in the Pittsburgh, Indianapolis and Louisville metro areas. An institutional investor that is a leading active adult owner-operator was the seller. Another institutional investor acquired the properties for an undisclosed price. CBRE’s Indianapolis multifamily team consisting of Steve LaMotte and Dane Wilson, CBRE’s Pittsburgh multifamily team consisting of Laura Lawrence, and CBRE’s National Senior Housing team members John L. Sweeny Jr., Aron Will, Garrett Sacco and Scott Bray represented the seller. …
PENNSYLVANIA — VIUM Capital has provided a $14.3 million bridge-to-HUD loan for a 144-unit independent living, assisted living and memory care community in Pennsylvania. The transaction refinances the recapitalizes the asset for a future repositioning to change the unit mix. Further details were not disclosed.
PENNSYLVANIA — Blueprint Healthcare Real Estate Advisors has negotiated the sale of six skilled nursing facilities in Western Pennsylvania. A public REIT sold the 453-bed portfolio to an operator as a value-add opportunity. Further details were not disclosed.
KING OF PRUSSIA, Penn. — An affiliate of Livingston Street Capital, a boutique private equity firm, has acquired Canvas at Valley Forge, a 231-unit, Class A active adult community in King of Prussia, a suburb of Philadelphia. The luxury asset brings the firm’s multifamily portfolio, which currently comprises primarily active adult communities, to more than 1,800 units located throughout seven states. “This investment opportunity is well aligned with the core of our active adult strategy,” explains Peter Scola, founder, president and co-CEO of Livingston Street Capital, who notes that according …
GLADWYNE, Pa. — Rosette, a conversion of a single-family home into a seniors housing community, has opened its doors in Gladwyne, a Philadelphia suburb within the Main Line region that follows the former Pennsylvania Railroad track. Inspired by a pod-like senior living concept found on the West Coast, Rosette has been updated and restored for eight immobile or otherwise disabled seniors so they can live and receive assistance together as a group. Rosette’s licensed personal care model is based on real-life family living. With full-time caregivers in the home 24/7, …
SELLERSVILLE, Pa. — Grace Inspired Ministries (GIM), along with development partner Leon N. Weiner & Associates Inc. (LNWA), has completed Sellersville Senior Residences, an affordable housing community in Sellersville, approximately 30 miles north of Philadelphia. The community’s 50 apartments are reserved for residents over age 55 meeting income requirements, with eight also reserved for those with behavioral health needs. The residences were built to the energy efficiency standards utilizing the Department of Energy Zero Energy Ready program. “Sellersville Senior Residences will bring much needed affordable and supportive housing to an …