WASHINGTON, D.C. and YORKTOWN HEIGHTS, N.Y. — HFF has arranged the $54.5 million sale of two seniors housing assets totaling 219 units: Chevy Chase House in Washington, D.C., and Country House in Yorktown Heights, approximately 40 miles north of New York City.
Holladay Corp. sold the properties to a joint venture between Blue Vista Capital Management LLC and Meridian Senior Living LLC free and clear of existing debt.
Chevy Chase House includes 131 independent living, assisted living and respite care units. Country House has 88 independent living, assisted living and respite care units.
Grandbridge Real Estate Capital’s Seniors Housing and Healthcare Finance team arranged a non-recourse, $43.5 million acquisition loan for the buyers. Grandbridge’s lending platform, BB&T Real Estate Funding, provided the capital.
Ryan Maconachy and Chad Lavender led the HFF team representing the seller. Richard Thomas and Meredith Davis of Grandbridge originated the acquisition financing.
Holladay is a real estate development company focused primarily on its home city of Washington, D.C.
Blue Vista is a Chicago-based investor in all property types. The company’s BVREP IV fund provided the capital for the transaction.
Meridian owns and operates senior housing communities across the United States.