• National Lending Group Divests in Wisconsin

    Justin Knapp, Nick Stahler and Ray Giannini of Marcus & Millichap recently closed the receivership sale of an 86-bed skilled nursing facility in Wisconsin. The Knapp-Stahler Group represented the seller, a national lending group that also provided financing for the deal.  The borrower/buyer was a local operator with ties to an East... Read More »
  • CFG Secures Bridge-to-HUD Loan for Ohio Skilled Nursing Facility

    Capital Funding Group secured financing for a skilled nursing facility in Ohio on behalf of a nationally recognized borrower. The bridge-to-HUD loan totals $13.5 million and supports the refinancing of this 120-bed SNF. Tim Eberhardt and Ava Julio of CFG originated the transaction.  This financing follows CFG’s closing of two HUD loans on... Read More »
  • CBRE Secures Financing For Class-A Seniors Housing Community

    CBRE secured financing for a Class-A seniors housing community in North Dakota on behalf of a joint venture borrower. Built in 2017, New Perspective West Fargo is in Fargo, one mile from Sanford Medical Center, North Dakota’s newest and largest medical center. The community features 128 independent living, assisted living and memory care units... Read More »
  • PCP Purchases Ohio Assisted Living Community

    Phorcys Capital Partners LLC, the investment advisor to Phorcys Senior Housing Recovery Fund LP (SHRF), announced it acquired a seniors housing community in Wickliffe, Ohio, through a trustee-directed short sale for $13.0 million, or $81,000 per unit. This is PCP’s second investment in SHRF, and it will continue to focus on the winding down of... Read More »
  • Newmark Closes Class-A Deal in Denver

    A new seniors housing community traded in the Denver, Colorado MSA, with the help of the team at Newmark. Developed in 2017, MorningStar at RidgeGate is located in the suburb of Lone Tree within the Ridgegate master plan that features retail, cultural amenities and a 284-bed hospital nearby. The property comprises five stories over subterranean... Read More »

Mainstreet Property Group’s “medical resort” concept

Why shouldn’t a nursing home look and feel like a pleasant—and desirable—boutique hotel? That’s the premise of Mainstreet Property Group’s innovative Next Generation™ design for skilled nursing facilities and a style that seems to be making headway in Indiana, currently one of the most active states in terms of senior living development. Mainstreet is a Hoosier company, based in Carmel, and one of the country’s largest developers of seniors housing and care properties. Its innovative and aesthetically appealing Health Care Resorts™ approach to long-term care focuses on private rooms, concierge-style services, restaurant-style dining with on-site chefs, landscaped outdoor areas, and... Read More »

The Wellmore of Tega Cay—focused on wellness

Wellmore of Tega Cay, a $35 million project now under construction in Tega Cay, South Carolina (a suburb of Charlotte, North Carolina), and the flagship community for CNL Healthcare Properties’ new Wellmore brand, will open in summer 2015. The nearly 150,000-square-foot campus will offer 152 residential units (assisted living, memory care, and skilled nursing) in six buildings and a 25,000 square foot clubhouse and wellness center—a feature of the Wellmore brand. Maxwell Group, Inc., a Charlotte-based management company, will operate Wellmore of Tega Cay upon completion. As the brand name implies, Wellmore communities focus on nationally recognized wellness initiatives aimed at extending... Read More »

Milwaukee’s “green” achievements

Milwaukee is setting a “green” standard for affordable senior housing development, as exemplified by Westlawn Gardens, a 345-unit public housing project, and Olga Village, a 37-unit apartment building for low-income seniors on the city’s south side. Westlawn Gardens, part of a neighborhood revitalization project, achieved LEED-ND (Neighborhood Development) Stage 3 Silver Certification, the highest rating for neighborhoods under current LEED standards. It is the world’s first development to achieve that rating, which recognizes smart growth and green building practices in an urban environment. The neighborhood includes a 30,000 square-foot community garden, a sustainable food production... Read More »

Spotlight on Co-ops

A senior housing co-op recently broke ground in Oakland, California, the first of its kind in the Bay Area. Elder Village Development, a part of Alameda Elder Communities, is the developer of the $21 million project, which is being built on the site of a local restaurant that burned down in 2010. The 41-unit retirement community, appropriately named Phoenix Commons, is part of a larger objective by city officials to revitalize Oakland’s waterfront. Elder Village believes that Phoenix Commons’ design and co-op model will allow seniors to more easily interact but still maintain the privacy of living in their own home. Each one- or two-room unit, ranging from 630 to 1,100 square feet, comes... Read More »

Spotlight on Texas

For several reasons, Texas has become the most attractive state for private developers to build senior living communities. Zoning laws in Texas are more lax than in most states, making it easier—and usually less expensive—to build. The state is growing rapidly in population, claiming eight of the nation’s top 15 growing large cities in 2012, according to the Office of the Governor, Economic Development & Tourism fo the State of Texas. Caddis Partners, Thrive Senior Living, Galier, Tolso and French Design, Stroud Development, America Development, and Belmont Village Senior Living are major builders in the state, constructing more than 3,300 units based on recently revealed information.... Read More »