MYRTLE BEACH, S.C. — Watercrest Senior Living Group and its equity partners, Peninsula U.S. Real Estate and Corecam Capital Partners, have broken ground on Watercrest Myrtle Beach Assisted Living and Memory Care in Myrtle Beach. The property will feature 76 assisted living units and 22 memory care units near the Atlantic Coast and many golf courses. Bank of Texas financed the construction, and Shiel Sexton is the builder. The project is scheduled for completion in late 2021.
South Carolina
Cushman & Wakefield Arranges $19.8M Refinancing for HarborChase of Riverwalk Near Charlotte
by Jeff Shaw
ROCK HILL, S.C. — Cushman & Wakefield Senior Housing Capital Markets has arranged $19.8 million in financing for HarborChase of Riverwalk, a recently opened assisted living and memory care community in Rock Hill, approximately 25 miles southwest of Charlotte, North Carolina. The borrower, private equity firm BridgeForth Capital, will use the funds to refinance the construction loan. Saperean Capital provided the new financing. HarborChase of Riverwalk is an 88-unit property located within the Riverwalk master planned development. The community opened February 2020. The operator is Harbor Retirement Associates. The Cushman …
CHICAGO — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm, has arranged the sale of six seniors housing communities in three states. The seller, Invesque, was seeking an exit from its joint venture portfolio of Royal Senior Care properties. One community in Florida was sold to a third-party buyer, while a Georgia community was sold to Royal Senior Care. The remaining four communities, all located in South Carolina, went to an existing portfolio partner of Royal Senior Care with a strong presence in the state. The prices and specific …
Watercrest Hires Blake Patterson as Executive Director of Newly Built Community in South Carolina
by Jeff Shaw
COLUMBIA, S.C. — Watercrest Senior Living Group has hired Blake Patterson as executive director of Watercrest Columbia Assisted Living and Memory Care in Columbia. Watercrest Columbia is a 107-unit, resort-style senior living community, which opened to residents in the fall of 2019. Patterson began his career in hospice services. With a transition to marketing director for assisted living and memory care, he witnessed first-hand the impact of the front-line staff as a critical factor in the success of a community. Patterson later became executive director of an assisted living, memory …
GREENVILLE, S.C. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a seniors housing community in Greenville. Built in 2001, the property features 74 assisted living units and 17 memory care units. The name of the property, price and seller were not disclosed. A private investor acquired the community with plans to replace operations.
Monticello Provides $35.9M Financing for Four-Property Portfolio in Florida, South Carolina
by Jeff Shaw
FLORIDA and NORTH CAROLINA — Monticello has provided $35.9 million in first lien debt financing for the acquisition and renovation of four communities in Florida and South Carolina. The properties, totaling 345 units, offer assisted living and memory care services. The names and specific locations were not disclosed. The borrower is an owner-operator with a total portfolio of 1,116 units.
Ziegler Arranges $35.7M Bond Financing for The Woodlands at Furman Expansion in South Carolina
by Jeff Shaw
GREENVILLE, S.C. — Ziegler has arranged a total of $35.7 million in bond financing for The Woodlands at Furman, a nonprofit continuing care retirement community (CCRC) in Greenville. The community opened in 2009 adjacent to Furman University on land leased by The Furman University Foundation. The property currently features 132 independent living apartments, 28 independent living villas (some of which are under construction), 32 assisted living apartments, 16 memory care units and 30 private skilled nursing units. The bond financing will fund an expansion at the property, adding 44 independent …
Phoenix Senior Living, Whitehall Development Group Building 43-Unit Community in South Carolina
by Jeff Shaw
CAMDEN, S.C. — Phoenix Senior Living has formed a joint venture with Whitehall Development Group to construct The Colonial at Old Camden. The community will feature 43 units of assisted living and memory care in a 31,000-square-foot building. Camden is located approximately 35 miles northeast of Columbia. Construction is nearly complete, with residents expected to start moving in in March.
Watercrest Appoints Joy Patterson as Executive Director of 107-Unit Community in South Carolina
by Jeff Shaw
INDIAN LAND, S.C. — Watercrest Senior Living Group has appointed Joy Patterson as executive director of Watercrest Fort Mill Assisted Living and Memory Care in Indian Land, just across the state border from Charlotte. Watercrest Fort Mill is a 107-unit resort-style senior living community currently under construction by Shiel Sexton and scheduled to welcome residents this spring. Patterson joined Watercrest Senior Living Group in early 2019, leading the pre-operational management of Watercrest Columbia Assisted Living and Memory Care, before transitioning to her new position. Patterson’s healthcare career began as a …