HOOVER, Ala. — HFF has arranged both the sale of and acquisition financing for Danberry at Inverness, a 232-unit community in the Birmingham suburb of Hoover. The sale price was not disclosed.
A joint venture between LCS and an affiliate of Artemis Real Estate Partners acquired the property from another joint venture that also included LCS, as well as an undisclosed private equity firm. Life Care Services will continue to operate the property.
In addition to brokering the sale, HFF arranged a seven-year, floating-rate acquisition loan through Freddie Mac to fund the transaction. HFF will service the loan.
Danberry at Inverness comprises 160 independent living units, 48 assisted living units and 24 memory care units.
Senior managing directors Ryan Maconachy, Chad Lavender and Bill Miller led the HFF investment sales team. Associate director Sarah Anderson led HFF’s debt placement team.