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AcquisitionsAssisted LivingNewsSouth Carolina

Blueprint Negotiates Sale of 265-Unit Portside at Grande Dunes in Myrtle Beach, South Carolina

by Jeff Shaw

MYRTLE BEACH, S.C. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Portside at Grande Dunes in Myrtle Beach. Owned and developed by LIV Development, Portside at Grande Dunes is a 265-unit community. The development opened in two phases starting with 83 assisted living and 32 memory care units in January 2019, followed by a Phase II that included 134 units of independent living and 16 independent cottages in August 2020. Chicago Pacific Founders Living Communities acquired the asset for an undisclosed price, and will install Grace Management …

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FinanceNewsSouth Carolina

Northmarq Arranges $39M Refinancing for Merrill Gardens at Carolina Park in Mt. Pleasant, South Carolina

by Jeff Shaw

MT. PLEASANT, S.C. — Northmarq has arranged $39 million in permanent financing for Merrill Gardens at Carolina Park, a 158-unit independent living, assisted living and memory care community in Mt. Pleasant. The community resides on 14.9 acres in Carolina Park, a master-planned community 16 miles northeast of Charleston. Built in three phases from 2018 to 2021, the main building was completed in 2018 with 130 units; 28 cottages were delivered in 2019; and in 2021, a swimming pool and fitness center addition were completed. The loan was structured prior to …

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CCRCDevelopmentFinanceNewsSouth Carolina

Ziegler Arranges $27.5M Bond Refinancing for Lutheran Homes of South Carolina

by Jeff Shaw

SOUTH CAROLINA — Ziegler has arranged $27.5 million in bond financing for The Lutheran Homes of South Carolina (LHSC). The borrower is a South Carolina-based nonprofit corporation that currently operates five life plan communities, three hospice offices and four non-medical in-home services agencies throughout South Carolina. LHSC operates a total of 1,077 units (409 independent living, 308 assisted living and 360 skilled nursing), ranking as the 83rd largest nonprofit senior living operator in the U.S. according to the 2021 LeadingAge Ziegler 200. First Horizon Bank, an LHSC existing banking partner, …

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AcquisitionsCCRCNewsSouth Carolina

Blueprint Negotiates Sale of 222-Unit Easley Place CCRC in South Carolina

by Jeff Shaw

EASLEY, S.C. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Easley Place, a continuing care retirement community (CCRC) in Easley. Easley Place, a 222-unit campus offering independent living, assisted living and skilled nursing services, is located in the Greenville-Spartanburg metro area and was built in 1985. The seller was a West Coast-based owner-operator seeking to divest of a non-core asset. The company acquired the asset in 2019, but the turnaround plan was negatively impacted by COVID. Elevation Financial Group bought the property for an undisclosed price and …

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Assisted LivingFinanceNewsSouth Carolina

Lument Arranges $24.5M Bridge Loan for Seniors Housing Community in Charleston, South Carolina

by Jeff Shaw

CHARLESTON, S.C. — Lument has arranged a $24.5 million bridge loan to refinance construction debt for an assisted living and memory care community in Charleston. Kevin Oakley and Steve McGee led the transaction for Lument. The community opened during the pandemic, which caused the lease-up to proceed slower than anticipated. The bridge loan, placed with a national bank via Lument’s debt syndications group, refinanced high-cost construction debt that was nearing maturity and allowed the borrower time and flexibility to focus on operations. “Completing this refinance via the bridge loan resulted …

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AcquisitionsArkansasGeorgiaIndependent LivingNew JerseyNewsOhioOklahomaSouth Carolina

Discovery Senior Living, NHI Acquire Nine-Community Independent Living Portfolio

by Jeff Shaw

BONITA SPRINGS, Fla. — Discovery Senior Living and National Health Investors (NYSE: NHI) have formed a joint venture to acquire and rebrand nine former Holiday Retirement communities. The properties are located in Arkansas, Georgia, Ohio, Oklahoma, New Jersey and South Carolina and total 1,094 units. Discovery Senior Living and its subsidiary management companies have taken over operations. Additionally, Discovery will assume operations of Isles of Vero Beach, a 230-unit assisted living community in Vero Beach, Florida, through Discovery and NHI’s existing joint venture. That property will be renamed Discovery Village …

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Assisted LivingFinanceNewsSouth Carolina

MidCap Financial Provides $20.6M Recapitalization of Vineyard Bluffton in South Carolina

by Jeff Shaw

BLUFFTON, S.C. — MidCap Financial has provided a $20.6 million financing to recapitalize Vineyard Bluffton, a 96-unit assisted living and memory care community in Bluffton, just inland from Hilton Head Island. The borrower is Valeo Groupe Americas, which recently built the community. This is Valeo Groupe’s first transaction with MidCap Financial. The transaction was arranged through Peter Martz and Noam Kaminetzky of Meridian Capital Group.

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AcquisitionsIndependent LivingNewsSouth Carolina

JLL Arranges Sale of 187-Unit Discovery Village at Sandhill in Columbia, South Carolina

by Jeff Shaw

COLUMBIA, S.C. — JLL Capital Markets has arranged the sale of Discovery Village at Sandhill, a 187-unit independent living community in Columbia. JLL marketed the property on behalf of the seller, South Bay Partners LLC. Liberty Senior Living LLC acquired the property and took over operations following the closing of the transaction. The property has been renamed to Inspire Sandhill. The price was not disclosed. Completed in 2019, Inspire Sandhill features one-, two- and three-bedroom units averaging 981 square feet. Located on 8.4 acres, Inspire Sandhill is near local entertainment …

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DevelopmentIndependent LivingNewsSouth Carolina

Resort Lifestyle Communities Opens 128-Unit Lakeview Independent Living Community in Columbia, South Carolina

by Jeff Shaw

COLUMBIA, S.C. — Resort Lifestyle Communities has opened Lakeview, a 128-unit independent living community in Columbia. “Our research indicated that there was a significant need for additional senior living communities in the Columbia area,” says Steve Mueller, COO of Resort Lifestyle Communities. Lakeview offers one-, two- and three-bedroom options.

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AcquisitionsLouisianaMississippiNewsSouth Carolina

ESI Arranges Sale of 10-Property Senior Living Portfolio in the Southeast for $145M

by Jeff Shaw

CHICAGO — Evans Senior Investments (ESI), a Chicago-based brokerage, has arranged the sale of 10 seniors housing communities in Louisiana, Mississippi and South Carolina for $145 million. Schonberg Care, a regional owner-operator, sold the assets to White Oak Healthcare, which will install Discovery Senior Living as the operator. The REIT buyer also assumed a recently refinanced Fannie Mae loan on the portfolio. The communities consist of 590 seniors housing units and 666 functional beds (117 independent living units, 293 assisted living units, and 180 memory care units). The communities were …

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