Tennessee

DALLAS, ATLANTA and NASHVILLE — BWE has arranged three financings totaling over $60 million to build, renovate and provide permanent financing for three affordable multifamily housing properties. Jon Killough and John Roberts originated the Freddie Mac tax-exempt loans on behalf of the borrowers. In the first transcation, BWE arranged a $14.2 million loan for Villages at Carver in Atlanta. The borrower, an Atlanta-based developer and operator, will fund renovations and permanent financing for the 220-unit, mixed-income, garden-style apartment complex. The development houses a mix of one-, two-, three-, and four-bedroom …

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FAYETTEVILLE, Ark., and KNOXVILLE, Tenn. — Anthem Memory Care has assumed management of two communities — Clear Creek in Fayetteville and Concord Place in Knoxville.  The new properties bring Anthem’s portfolio up to 19 properties and marks the Oregon-based operator’s entry into Tennessee.

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SPARKS, Nev., and HARROGATE, Tenn. — The Ensign Group Inc. (Nasdaq: ENSG) has acquired the operations of Hearthstone Health and Rehabilitation, a 125-bed skilled nursing facility located in Sparks, and TriState Health and Rehabilitation Center, a 116-bed skilled nursing facility located in Harrogate. Ensign will operate both properties under an long-term, triple-net lease. These acquisitions bring Ensign’s growing portfolio to 299 healthcare operations, 27 of which also include senior living operations, across 14 states. Ensign subsidiaries, including Standard Bearer, own 113 real estate assets.

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BRENTWOOD, Tenn. — Blueprint Healthcare Real Estate Trust has arranged the sale of an assisted living and memory care community in Brentwood, a suburb of Nashville. The buyer plans to convert the property to residential mental health center, and has already executed a long-term lease with a tenant. Further details on the buyer, seller and price were not disclosed. Andrew Sfreddo, Kyle Hallion, Shane Harmon and Gunnar Raney led the Blueprint team.

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NASHVILLE, Tenn. — Distinctive Living has assumed management of The Village at Bellevue, an assisted living and memory care community in Nashville. The community features 69 units, including an 18-bed secured memory care neighborhood. New Jersey-based Distinctive Living currently operates 26 communities and has 20 under development via its development services platform (Distinctive Living Development LLC).

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CHATTANOOGA, Tenn. — Charter Senior Living has taken over management of Summit View Senior Community in Chattanooga.  Charter will rebrand the independent living and assisted living community as Charter Senior Living of Chattanooga.  Charter plans to renovate and update the community’s cosmetic features and plans to maintain the current staff and add additional staff as needed.

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CHATTANOOGA, Tenn. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 48-unit assisted living community in Chattanooga. An institutional REIT sold the asset to an investor looking to grow its regional platform in the Southeast. The price was not disclosed. The building was constructed in 2000 and historically has performed well, according to Blueprint. Kyle Hallion and Brooks Blackmon led the transaction for Blueprint.

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FRANKLIN and HENDERSONVILLE, Tenn. — CBRE has arranged $32.2 million in financing for the acquisition of Vitality Living Franklin and Vitality Living Hendersonville, both located in high-growth suburbs of Nashville. The borrowers were Winterpast Capital Partners (WCP), Scribner Capital and its institutional partner, and Broadview Real Estate Partners. Vitality Living, WCP’s wholly owned operating platform, will manage the communities under a traditional third-party agreement. The portfolio consists of 256 assisted living and memory care units. Aron Will, Tim Root and Michael Cregan of CBRE National Senior Housing, arranged the financing, …

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NASHVILLE, Tenn. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Grace Manor, a 42-unit assisted living community in Nashville. A local church built Grace Manor in 2010. The property struggled with occupancy and profitability during the COVID-19 pandemic. As a result of the performance, the property was voluntarily closed in November of 2021. The seller (which purchased the HUD note at auction) is a private investment firm that manages alternative assets for high-net-worth individuals and institutional investors. The buyer and price were not disclosed. Patrick Burke and …

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