North Carolina

CCRCDevelopmentFinanceNewsNorth Carolina

Ziegler Arranges $95.6M Financing for The Forest at Duke in Durham, North Carolina

by Jeff Shaw

DURHAM, N.C. — Ziegler has arranged $95.6 million in bond financing for The Forest at Duke, a continuing care retirement community in Durham. The community sits on 47 acres just south of Duke University. First opened to residents in 1992, the property serves over 360 residents across 154 apartments, 81 cottages (235 total independent living units), 32 assisted living units and 58 licensed skilled nursing beds. To address the changing needs of existing and future residents, The Forest at Duke adopted a strategic plan that included two phases. Phase I, …

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AcquisitionsNew YorkNewsNorth CarolinaSouth Carolina

Bellwether Arranges $62M in Financing for Seniors Housing Communities in Carolinas, New York

by Jeff Shaw

GREENVILLE, S.C.; CHARLOTTE, N.C.; AND KENMORE, N.Y. — Bellwether Enterprise Real Estate Capital LLC has arranged three loan deals totaling more than $62 million to finance three assisted living and memory care communities in Greenville, one assisted living and memory care facility in Charlotte and a 150-unit affordable seniors housing development in the Buffalo suburb of Kenmore. The national seniors housing and care team at Bellwether originated the Carolina loans, led by Ryan Stoll, Taylor Mokris and Kim Huffstutler. Lundat Kassa and Anthea Martin originated the New York loan. The …

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CCRCDevelopmentNewsNorth Carolina

Liberty Breaks Ground on Hayes Barton Place CCRC in Raleigh, North Carolina

by Jeff Shaw

RALEIGH, N.C. — Liberty Senior Living has broken ground on Hayes Barton Place, a seniors housing community in Raleigh. Scheduled to open in 2024, the property is just three miles northwest of the heart of downtown Raleigh. A continuing care retirement community, Hayes Barton Place will feature an undisclosed number of independent living, assisted living, memory care, skilled nursing and rehabilitation units. Project partners include Grubb Ventures, Williams Realty and Building CO., Brasfield & Gorrie, WithersRavenel, Clancy and Theys Co., LS3P and Liggett Design Group.

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FinanceKeyBankNewsNorth Carolina

KeyBank Provides $53.1M Agency Loan for Waltonwood Lake Boone in Raleigh

by Jeff Shaw

RALEIGH, N.C. — KeyBank Real Estate Capital has provided a $53.1 million Fannie Mae loan from Fannie Mae for Waltonwood Lake Boone, a 181-unit seniors housing community in Raleigh. The property offers independent living, assisted living and memory care units. Charlie Shoop of KeyBank arranged the 10-year, fixed-rate loan on behalf of the borrower, Singh Development, a real estate developer with offices in Raleigh and West Bloomfield, Mich. The financing recapitalizes a loan that KeyBank’s Healthcare Group originated in 2019, a year after Waltonwood Lake Boone opened.

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FinanceNewsNorth Carolina

Grandbridge Provides $34.7M Refinancing for BrightSpace Senior Living Development in North Carolina

by Jeff Shaw

BREVARD, N.C. — The Atlanta-based seniors housing and healthcare finance team of Grandbridge Real Estate Capital has provided a $34.7 million Fannie Mae loan for Chattanooga-based BrightSpace Senior Living. The funds were used to provide financing for College Walk Retirement Community, a 168-unit independent living and assisted living community in Brevard. Further details were not disclosed.

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AcquisitionsCCRCFinanceNewsNorth Carolina

Ziegler Arranges Acquisition Financing for 203-Unit Village at Brookwood CCRC in Burlington, North Carolina

by Jeff Shaw

BURLINGTON, N.C. — Ziegler has arranged three separate loans to fund the acquisition of The Village at Brookwood (TVAB), a continuing care retirement community (CCRC) in Burlington. Opened in 2003, TVAB features 155 independent living units, 12 assisted living units, 12 memory care units and 24 skilled nursing units on a 47-acre plot. The buyer, Well-Spring, is the current operator and also owns/operates a second CCRC in nearby Greensboro. Alamance Regional Medical Center originally developed TVAB, but the health system was acquired by Cone Health in 2011, after which Well-Spring …

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AcquisitionsAssisted LivingMarylandNewsNorth CarolinaVirginia

Foundry Commercial Buys 24-Property Spring Arbor Senior Living Portfolio in Mid-Atlantic

by Jeff Shaw

ORLANDO — Foundry Commercial, in partnership with an investment fund managed by Morgan Stanley Real Estate Investing, has purchased the Spring Arbor Senior Living collection of 24 assisted living and memory care communities across the Mid-Atlantic. As part of the transaction, Foundry Commercial acquired the current operator, which will continue to manage the properties post-closing. The portfolio contains 1,424 units throughout Maryland, North Carolina and Virginia, with capacity for more than 1,800 residents. The Spring Arbor platform will continue operations under the Spring Arbor Senior Living brand. Capital Funding arranged …

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Assisted LivingFinanceNewsNorth Carolina

LTC Provides $36M Refinancing for Four Communities in North Carolina

by Jeff Shaw

WESTLAKE VILLAGE, Calif. — LTC Properties Inc. (NYSE: LTC), a Westlake Village-based REIT that primarily invests in seniors housing and health care properties, has made a $36 million investment for the refinancing of debt on four assisted living communities and a land parcel. The four assisted living communities located in North Carolina have a combined total of 217 units and are operated by an existing LTC partner. The communities are newly constructed with an average age of under four years. The land parcel includes approximately 7.6 acres adjacent to one …

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AcquisitionsAssisted LivingNewsNorth CarolinaOperations

Charter Senior Living to Operate Community in Charlotte, North Carolina

by Jeff Shaw

CHARLOTTE, N.C. — Charter Senior Living has taken over management of The Social at Cotswald in Charlotte, and has renamed the community Charter Senior Living of Charlotte. The asset offers assisted living and memory care services. The number of units was not disclosed. The change in management will increase the family of Charter Senior Living retirement communities to more than 40 throughout the United States.

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Affordable HousingDevelopmentNewsNorth Carolina

Woda Cooper Opens 50-Unit Affordable Seniors Housing Community in Hickory, North Carolina

by Jeff Shaw

HICKORY, N.C. — Woda Cooper Cos. Inc. has opened Center Crossing, a 50-unit, four-story affordable seniors housing community in Hickory that offers one- and two-bedroom apartments. Five of the units are accessible for those with mobility challenges, including two units specifically equipped for those with sight and hearing impairments. The property serves residents aged 55 and older who earn 40 to 80 percent area median income (AMI). Rental rates range from $356 to $921 per month, depending on unit size and income restriction. Community amenities include an onsite management office, …

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