WACO, Texas — Blueprint has brokered the sale of an assisted living and skilled nursing facility totaling 106 units in Waco. Closed in 2018, the community was vacant at the time of sale. The property was built in 2015. Amenities at the facility include an outdoor courtyard, patio and putting green. Amy Sitzman and Giancarlo Riso of Blueprint represented the undisclosed seller in the transaction.
New tools are helping seniors housing providers detect fall risks early, giving them an edge in prevention while preserving residents’ privacy and dignity. This technology is part of a new frontier in healthcare: tracking and identifying changes in behavior earlier and earlier while providing tailored alerts and wellness insights to improve outcomes. “We are always looking for opportunities to reduce falls and maintain, or improve, the overall health and wellbeing of our residents,” says Mark Mountel, director of technology at Life Enriching Communities (LEC). The not-for-profit owner and operator of …
NEW YORK CITY — MonticelloAM has provided a $25 million mezzanine loan for the refinancing of a skilled nursing facility in New York City. Comprising 300 beds, the facility is situated within Staten Island. The undisclosed borrower will use the loan proceeds to recapitalize the property’s existing equity.
NORTHFIELD, Minn. — Vivie has acquired Northfield Retirement Community in Northfield. Opened in 1969, the community offers a full continuum of care, including independent living, assisted living, memory care, skilled nursing and rehabilitation. Vivie’s portfolio comprises 34 communities, as well as several home health and hospice offices. In addition to its senior living communities, Vivie — formerly Knute Nelson and Walker Methodist — provides home health care, care management, rehabilitation and hospice across Minnesota, North Dakota and Wisconsin.
SAN JOSE, Calif. — Forbright Bank has provided a $44.2 million HUD loan to finance a 318-bed skilled nursing, assisted living and memory care facility located in the San Jose area of California. Provided under the HUD 232/223(f) program, the 35-year fully amortizing term loan will be used to refinance existing Forbright Bank bridge and partnership debt, as well as cover the cost of recent capital expenditures and critical repairs. Forbright originally provided acquisition financing and a line of credit for working capital for the undisclosed borrower in 2022.
LUBBOCK, Texas — Senior Living Investment Brokerage (SLIB), has brokered the sale of Bender Terrace, a skilled nursing facility located in Lubbock. Situated on 2.7 acres, the property comprises roughly 45,000 square feet and 120 beds. A local independent owner sold the facility to a national owner-operator. A regional operator was leasing the property at the time of sale. Matthew Alley and Ryan Saul of SLIB arranged the transaction.
NEW YORK CITY — MonticelloAM has provided $39 million in bridge and working capital financing for two skilled nursing facilities in New Jersey. The borrower will use the $38 million floating-rate senior bridge loan to consolidate previous loans and reduce its cost of capital and will use the $1 million working capital facility to cover the day-to-day needs of the facilities. Together, the properties total 300 skilled nursing beds. “The MonticelloAM team did a remarkable job closing this transaction in 45 days to meet their timeline, underscoring our commitment to our …
HENDERSON, Nev. — A joint venture between CREC Real Estate and The Calida Group has sold Coronado Ridge Skilled Nursing and Rehabilitation Center, a skilled nursing facility in the Las Vegas suburb of Henderson, for $33 million. Completed in 2017, the facility totals 121 beds across 90 resident rooms. The 68,873-square-foot property is situated on 2.3 acres across from a 132-unit seniors housing community and a 62-unit memory care facility. JLL’s Seniors Housing Capital Markets team, in conjunction with Mark Wintner of JLL, represented the seller in the transaction.
SAN CLEMENTE, Calif. — CareTrust REIT has acquired 13 skilled nursing facilities in Tennessee for $176 million, as the second phase of a portfolio transaction in the state. California-based CareTrust purchased the properties through a joint venture arrangement with a third-party healthcare real estate owner. Each of the 13 facilities will be operated by existing CareTrust tenants under new, long-term master lease agreements. Affiliates of the Ensign Group will operate six of the facilities, with affiliates of Links Healthcare Group operating the remaining seven. The portfolio transaction totals $421 million and …
BARTLETT, Ill. — Continuum Advisors has brokered the $42 million sale of The Oaks at Bartlett, a senior living community located in Bartlett, roughly 35 miles northwest of downtown Chicago. Built in 2007, the property totals 283 units, with 10 cottages, 154 independent living apartments, 16 memory care units and 54 skilled nursing units. Michael Flanagan of Flanagan & Associates served as the receiver for the property, which recently defaulted on its bond obligations. Certus Living has operated the community since the default. David Kliewer and Jay Jordan of Continuum arranged …
