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AcquisitionsAssisted LivingNewsSouth Carolina

SLIB Negotiates Sale of 62-Unit Community in Georgetown, South Carolina

by Jeff Shaw

GEORGETOWN, S.C. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Georgetown Assisted Living & Memory Care in Georgetown, a small town located along the coast. An owner-operator and a group of investors purchased a 24-unit hospice facility from the local hospital. The group then did a gut rehab on the existing structure and added a two-story, 38-unit addition. The investor group decided to sell the asset prior to opening the property. The buyer and price were not disclosed. Patrick Burke, Bradley Clousing and Dan Geraghty of SLIB …

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AcquisitionsFinanceNewsNorth CarolinaSouth Carolina

LTC Provides $52.5M Loan for 13-Property Acquisition in North Carolina, South Carolina

by Jeff Shaw

WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC) has provided a $52.5 million unitranche loan for the purchase of a 13‑property seniors housing portfolio located in North and South Carolina. An existing operator partner will manage the communities. The loan provides for additional commitments of $6.1 million for capital improvements and $650,000 for working capital, for a total investment commitment of approximately $60 million.

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Assisted LivingDevelopmentNewsSouth Carolina

Watercrest Completes 98-Unit Community in Myrtle Beach

by Jeff Shaw

MYRTLE BEACH, S.C. — Watercrest Senior Living Group and equity partners Peninsula Alternative Real Estate and Corecam Capital Partners have completed Watercrest Myrtle Beach Assisted Living and Memory Care, a seniors housing community in Myrtle Beach. The community features 76 units of assisted living and 22 units of memory care.

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MississippiNewsPeopleSouth Carolina

Claiborne Senior Living Hires Two New Executive Directors for Communities in Southeast

by Jeff Shaw

SUMMERVILLE, S.C., and MCCOMB, Miss. ­— Claiborne Senior Living has hired Candy Cure as the executive director of The Claiborne at Brickyard Crossing, a new 142-unit seniors housing community set to open in mid-2022 in Summerville. Cure comes to Claiborne from a stint as senior executive director at Harmony Senior Services in Charleston. Joining Cure at Brickyard as community relations director is Teresa Hamlett. Hamlett previously served as director of sales and marketing at two other communities in the greater Charleston area. Meanwhile, Randall Wilson has assumed the role of …

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AcquisitionsNewsNorth CarolinaSouth Carolina

JLL Negotiates Sale of 558-Unit Portfolio in the Carolinas

by Jeff Shaw

CHARLESTON, S.C. — JLL Capital Markets has arranged the sale of nine senior living properties totaling 558 units of assisted living and memory care. Eight of the properties are in South Carolina with one property located in North Carolina. JLL arranged the sales on behalf of the seller, a large, publicly traded REIT. In the first transaction, eight properties totaling 506 units were sold to a private equity group and will rebranded with a new operator. The new owner plans to provide extensive capital expenditures for improvements to the communities. …

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AcquisitionsMississippiNewsSouth CarolinaWisconsin

Walker & Dunlop Negotiates Sales of Three Communities in Midwest, Southeast

by Jeff Shaw

MEQUON, Wis., OXFORD, Miss., and SUMMERVILLE, S.C. — Walker & Dunlop has brokered the sales of three seniors housing communities located in the Midwest and Southeast. In the first transaction, Walker & Dunlop brokered the sale of Wright House Senior Living, a 110-unit independent living, assisted living and memory care community in Mequon. The lead broker was Alex Vice. In the second transaction, Walker & Dunlop brokered the sale of The Blake at Oxford, a 100-unit assisted living and memory care community in Oxford. The buyer was Chicago Pacific Founders, …

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Assisted LivingDevelopmentNewsSouth Carolina

Watercrest Nears Completion of 98-Unit Community in Myrtle Beach, South Carolina

by Jeff Shaw

MYRTLE BEACH, S.C. — Watercrest Senior Living Group is now accepting reservations at Watercrest Myrtle Beach in Myrtle Beach. The community sales office is now open for the property, which will feature 76 assisted living units and 22 memory care units. The property’s location is near beaches and golf courses, as well as medical centers, retail, dining, art and entertainment. Watercrest Myrtle Beach is one of two senior living development projects partnered between Watercrest, Corecam Capital Partners and Peninsula Alternative Real Estate. Their additional project, Watercrest Macon Assisted Living and …

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CCRCDevelopmentNewsSouth Carolina

LCS Completes Expansion Project at Rolling Green Village in Greenville, South Carolina

by Jeff Shaw

GREENVILLE, S.C. — Life Care Services and LCS Development have completed an expansion project at Rolling Green Village, a continuing care retirement community in Greenville. The project added 60 apartments, 23 single-family houses and duplexes, and a new commons building with a variety of amenities. Sitting on 175 acres, Rolling Green Village claims to the be the largest nonprofit employer in the state. “The genesis for this expansion started in a resident committee and was picked up and made actionable through the combined effort of the board, Life Care Services …

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CCRCDevelopmentNewsSouth Carolina

Big Rock Partners, Kiawah Partners Plan $180M Seafields at Kiawah Island in South Carolina

by Jeff Shaw

KIAWAH ISLAND, S.C. — Kiawah Life Plan Village Inc. (KLPV), a newly formed nonprofit, has purchased a nine-acre site from Kiawah Partners, a subsidiary of South Street Partners, in the coastal resort community of Kiawah Island. Plans for the site include Seafields at Kiawah Island, a $180 million continuing care retirement community. Conceived in response to fill a void in the market, and at the request of Kiawah and Seabrook property owners as a way to age in place, the property will feature an in-house medical clinic operated by the …

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DevelopmentNewsSouth Carolina

Lument Arranges $22.8M in Bond Financing for Construction of The Retreat at Indian Land in South Carolina

by Jeff Shaw

INDIAN LAND, S.C. — OREC Securities LLC, doing business as Lument Securities, has arranged a $22.8 million bond placement to fund the construction of The Retreat at Indian Land, a seniors housing community in Indian Land. Located along the North Carolina-South Carolina border near Charlotte, the project will feature 87 units of independent living, assisted living, memory care and respite care. The borrower is Whitehall Senior Living, which is developing the property. The operator will be Phoenix Senior Living. Kevin Oakley, director for Lument in the Southeast, led the finance …

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