BALTIMORE — Baltimore-based Capital Funding Group (CFG) has arranged $207 million in financing to support the refinancing of 10 skilled nursing facilities. The facilities, which span Maryland, Virginia and North Carolina, total over 1,200 beds. The borrowers are affiliates of The Portopiccolo Group. The transaction represents the largest deal closed by CFG this year to date. The financing also allowed for an equity recapture at closing, a transition to third-party tenants for eight of the 10 facilities as part of the closing and an earn-out structure to provide access to …
MCLEAN, Va. — Sunrise Senior Living has opened Sunrise of McLean Village, a seniors housing community located at 1515 Chain Bridge Road in McLean, roughly 15 miles outside Washington, D.C. Comprising 90,000 square feet, the three-story property has the capacity for more than 120 residents and offers assisted living and memory care accommodations. Amenities at the community include a dining room and bistro with a bar, fitness center, library, two sunrooms, an activity room, hair and nail salon and a massage room. The property also features five covered porches, a …
FREDERICKSBURG, Va. — JLL Capital Markets has arranged joint venture equity for development of a seniors housing community in Fredericksburg, approximately midway between Richmond and Washington, D.C. Centric Development LLC is developing the property, which will feature 106 assisted living and 36 memory care units. The three-story, 153,000-square-foot property is situated on a 16.2-acre parcel. The site is within an established, regional medical hub in a growing area. Completion is scheduled for 2025. Joel Mendes, Anthony T. Fertitta Jr. and Billy Lichtenstein led the JLL Capital Markets Advisory team.
COLONIAL BEACH, Va. — Marquis Health Consulting Services has completed renovations at Westmoreland Rehabilitation & Healthcare Center, a skilled nursing facility in Colonial Beach, approximately midway between Richmond and Washington, D.C. The project included updates to the lobby, nurses’ stations and resident rooms, among other areas. The facility carries a five-star designation from the Centers for Medicare & Medicaid Services (CMS) for quality measures. Westmoreland maintains an outpatient rehabilitation program featuring occupational and physical therapy suitable for those high school aged and above.
CHANTILLY, Va. — Hamister Real Estate Equity Fund III LP, a private estate fund sponsored by Hamister Group, has acquired Chantilly Heights Memory Care in Chantilly, approximately 25 miles west of Washington, D.C. It is the second Virginia assisted living and memory care facility to come under the Hamister Group umbrella. The group has operated Chantilly’s sister facility, Lansdowne Heights Memory Care in Leesburg, since 2020. Formerly named Arbor Terrace Fairfax, Chantilly Heights Memory Care offers two separate neighborhoods within the 35,550-square foot facility. Opened in 2017, the complex consists …
HERNDON, Va. — Brightview Senior Living has opened Dulles Corner in Herndon, a Washington, D.C. suburb near Dulles International Airport. Dulles Corner offers 196 units of independent living, assisted living and memory care. The development marks Brightview’s 46th community and its third in Fairfax County. “Brightview Dulles Corner follows a new trend to embed senior living into the greater community,” says Doug Dollenberg, president and CEO of Brightview. “Innovation Center Station is a $1 billion investment with the intent to offer a thoughtful live, work and play neighborhood in a …
CHANTILLY, Va. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Arbor Terrace Fairfax, a 48-unit memory care community in Chantilly, approximately 25 miles west of Washington, D.C. The seller was Capitol Seniors Housing (CSH), which developed the community in 2017 alongside operator The Arbor Company. The community leased up in record time, reaching 93 percent occupancy within eight months of opening its doors, according to Blueprint. It also maintained profitability during the COVID-19 lockdowns. Upon fully restabilizing in first-quarter 2022, CSH sought to collect on its successful …
SHORT PUMP, Va. — Erickson Senior Living has planned two new independent living buildings at Avery Point, a continuing care retirement community in Short Pump. Stafford Glen opened in February, and Langham Terrace will follow this summer. Stafford Glen and Langham Terrace feature 203 luxury one- and two-bedroom apartments. Additionally, two more buildings will open in 2024 — Boynton Place and Wilton Crossing — with reservations currently open. Avery Point, situated on a beautiful 94-acre campus, opened in October 2022. Upon full build-out, the community will feature 1,200 independent living …
VIRGINIA — Evans Senior Investments (ESI) has arranged the sale of a three-property skilled nursing portfolio in Virginia. Hill Valley Healthcare sold the assets to an East Coast-based buyer just entering the seniors housing industry. The $59 million price tag equates to $184,375 per bed. The assets are located in the eastern part of Virginia and totaled 270 skilled nursing beds and 50 assisted living beds. Despite two buildings being located in rural markets, the portfolio maintained an occupancy average of 86 percent during the marketing process. Accompanied with a …
ALEXANDRIA, Va. — Goodwin Living, a nonprofit, faith-based senior living and healthcare services organization in the Capitol Region, has named Josh Bagley executive director of The View Alexandria. Bagley has served as the interim executive director since Goodwin Living acquired the retirement community in August 2022. Located in the West End of Alexandria on a seven-acre campus, The View Alexandria is home to more than 100 residents, employs more than 100 team members and offers independent living, assisted living and long-term nursing care. Bagley began his career with Goodwin Living …