• National Lending Group Divests in Wisconsin

    by | Apr 25, 2024 3:31 pm | Acquisitions

    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

    by | Apr 25, 2024 3:30 pm | Financings

    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

    by | Apr 25, 2024 3:29 pm | Financings

    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

    by | Apr 25, 2024 3:27 pm | Acquisitions

    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

    by | Apr 24, 2024 8:44 am | Acquisitions

    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 »
Cushman & Wakefield’s Carolina Sale

Cushman & Wakefield’s Carolina Sale

by | Apr 13, 2018 7:02 am | Acquisitions

For the second time, Prudential Real Estate Investors is selling its large senior living community in Cary, North Carolina, 14 years after the first sale. Originally built in 1999 with 80 independent living units, 36 assisted living units and 36 memory care units, the community has been operated by Kisco Senior Living since its development. During that time, Kisco has overseen several ownership changes, starting in 2004, when Prudential Real Estate Investors sold the community to Walton Street Capital for about $27.4 million, or $180,000 per unit. Walton Street added 14 IL cottages with 24 units in 2008-2009, perhaps not the best time for an IL addition. Nevertheless, Walton Street resold... Read More »
Luxury Senior Living Community Sells in Hoover, Alabama

Luxury Senior Living Community Sells in Hoover, Alabama

by | Apr 7, 2017 7:02 am | Acquisitions

LCS is selling its 232-unit senior living community in Hoover, Alabama, almost exactly three years after acquiring it in a joint venture with Walton Street Capital. LCS still left its mark at the community, converting 24 assisted living units to memory care in 2015. Built in 2009, the community currently features 160 independent living, 48 assisted living and now 24 memory care units on its 17-acre campus. Monthly rents averaged $4,148 for independent living, $4,700 for assisted living and $5,500 for memory care. The average income in Hoover (just outside of Birmingham) exceeds $110,000 per household, making it one of the wealthier areas of the southeast. So, the facility hasn’t had a... Read More »