NEW YORK CITY — MonticelloAM has provided $152 million in financing for a skilled nursing portfolio located across North Carolina. The financing includes $142 million in bridge debt, which carries a 36-month initial term with two extension options, for the acquisition of the portfolio. Totaling 1,100 licensed beds, the portfolio comprises nine skilled nursing facilities. Additionally, MonticelloAM has provided a $10 million working capital line of credit to support daily operational needs at the facilities. The borrower was not disclosed.
Active AdultAffordable HousingAssisted LivingCCRCContent PartnersFeaturesIndependent LivingIndustry ContentMemory CareOperationsSkilled NursingTechnology
How Tech-Forward Entertainment Drives Resident Satisfaction, Revenue
The next generation of residents entering senior living communities is more digitally native than ever before. Many have embraced mobile devices, smart technology and digital streaming, and they expect the same convenience and technology in their seniors housing environments. According to a recent AARP survey, nearly two-thirds of respondents say technology enriches their lives by making daily life and aging easier. They’re increasingly using digital services to manage their finances, social lives and health and wellness. AARP research also found that among adults aged 50 and over, 91 percent own …
MERRILL, Wis. — Marcus & Millichap has arranged the $9.5 million sale of a skilled nursing facility located in Merrill. Totaling 120 beds, Pine Crest Nursing Home features 117 units, with 105 private rooms and 15 semi-private rooms. A memory care unit, rehabilitation center and special care units were recently added to the property. The facility was 70 percent occupied at the time of sale. Ray Giannini of Marcus & Millichap brokered the sale on behalf of the seller and procured the buyer.
By Jane Adler Similar macro trends are shaping both seniors housing and skilled nursing. The aging population continues to increase demand for services. Occupancies are rising. Limited new development has helped to keep competition in check. Meanwhile, technology promises to improve operational efficiency and potentially cut expenses. Industry consolidation is ongoing. Older buildings are being renovated. Prices for quality properties are rising, and investors are eager to invest in both seniors housing and skilled nursing. Both segments face similar challenges too. Although the worker shortage has eased somewhat, operators continue …
KANSAS CITY, Mo. And NORTH RICHLAND HILLS, Texas — Cambridge Realty Capital has provided two HUD-insured loans totaling $19.3 million for seniors housing properties located in Missouri and Texas. In Texas, the financing included a $6 million loan for the acquisition of Ashwood Court, an assisted living facility located in North Richland Hills. In Missouri, a $13.3 million loan was provided for the refinancing of Northland Rehabilitation and Healthcare Center, a 118-bed skilled nursing facility in Kansas City. Both borrowers utilized Cambridge’s early rate lock program, which allows for securing an …
JOHNSON CITY, Tenn. — Blueprint has arranged the sale of a 402-bed portfolio located in Tennessee and Virginia. Ballad Health, a Johnson City, Tennessee-based not-for-profit integrated healthcare system, was the seller. The portfolio comprises three skilled nursing facilities and one assisted living community. Ahava Healthcare, a New York-based owner and operator, acquired the portfolio for an undisclosed price.
NEW YORK CITY — MonticelloAM has provided $218 million in financing for a skilled nursing portfolio in Kentucky. Comprising 18 facilities, the portfolio totals 1,500 beds across the state. In addition to a $179.3 million senior bridge loan and a $29 million mezzanine loan, which the undisclosed borrower plans to use to restructure and upsize existing debt, the financing includes a $10 million working capital line of credit that will be used to cover the day-to-day operational needs of the facilities. New York City-based MonticelloAM originally financed the portfolio in May …
Active AdultAffordable HousingAssisted LivingCCRCContent PartnersFeaturesIndependent LivingIndustry ContentOperationsSkilled NursingTechnology
Emergency Ready: Promote Resilient Life Safety Programs in Senior Communities
In seniors housing, safety isn’t just a protocol; it’s a promise. With residents and their loved ones relying on clear communication and quick responses, creating and maintaining a robust emergency action plan (EAP) tailored for senior living communities is essential. From fires and severe weather to power outages and elevator malfunctions, preparation and well-tested systems can help to keep seniors safe and cared for, while reassuring families and reducing property risk. Here’s how owners and operators can build a safer, more responsive environment for residents, staff and families alike. EAP: …
NEWTON, Mass. — MassDevelopment has issued a $134.9 million tax-exempt bond to Lasell Village Inc. for the renovation and expansion of a senior living community located on the campus of Lasell University in Newton. The financing will fund the purchase of 1.4 acres of land owned by Lasell University and the construction of a new building. Upon completion, the new building will feature 42 independent living apartments, a bistro, fitness and wellness centers, a multipurpose room, common space and other amenities. Lasell Village is a charitable corporation that was formed in …
DOUGLAS, Wyo. — Senior Living Investment Brokerage (SLIB) has brokered the sale of Douglas Care Center and Mountain Lodge, a senior living and skilled nursing facility located in Douglas. The facility totals 74 units with 96 beds across two adjacent properties, with assisted living, memory care and skilled nursing offerings. Originally built in 1968, Douglas Care Center was renovated in 2010. Mountain Lodge was developed in 2018. Vince Viverito and Jason Punzel of SLIB arranged the transaction.
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