Ziegler Closes Slew of Summer Transactions
It looks like there is no summer vacation for Ziegler’s Chris Utz, who has closed a number of transactions in recent months spanning investment sales to acquisition financings for a host of seniors housing and care properties across the country. Most recently, he arranged an acquisition loan for Comprehensive Care Capital (CCC) to acquire a 114-unit assisted living/memory care community in East Norriton, Pennsylvania (Philadelphia MSA). Previously known as Brandywine Living at Senior Suites, the community has been renamed Silver Springs at East Norriton, with CCC’s affiliate Cura Health taking over operations. CCC had created Cura Health to oversee daily operations for its seniors housing... Read More »
Arrow Senior Living and Welltower Expand in The Midwest
Arrow Senior Living acquired eight seniors housing communities across Illinois, Iowa, Missouri and Arkansas. Acquired in June, CedarStone Senior Living and PrairieStone Senior Living, both in Cedar Falls, Iowa, were developed by Nelson Construction and Development. CedarStone comprises 120 units (88 AL and 32 MC). PrairieStone features 111 units (79 AL and 32 MC). Arrow also acquired six IL communities in a joint venture with Welltower in early July, adding 654 units to its portfolio. The Cambridge Senior Living in Springfield, Missouri, consists of 115 units. The Gardens at Arkanshire in Springdale, Arkansas, features 80 units. The Montvale Senior Living in Springfield, Illinois,... Read More »
PE Firm Acquires Active Adult Community in Texas
Green Courte Partners, a private equity real estate investment firm, announced that its fifth investment fund, Green Courte Real Estate Partners V, and its affiliates acquired Chesapeake Bay, an active adult community with 348 apartments and cottages in Seabrook, Texas. This increases GCP’s national senior living portfolio, which is managed by the firm’s wholly owned operating platform, True Connection Communities, to 19 communities containing approximately 3,100 units. The community’s initial phase leased quickly and maintained strong occupancy, prompting the developer to add 90 cottages in late 2023 to meet market demand. GCP intends to continue acquiring and developing active adult... Read More »
Acquisition Financing Secured for SNF Portfolio
Capital Funding Group closed $17.27 million in bridge-to-HUD financing for the acquisition of three skilled nursing facilities in Massachusetts. In total, the portfolio comprises 322 beds. Closing occurred on June 28, less than 60 days from receipt of the signed term sheet. Craig Casagrande and Catherine Mansel handled the transaction on behalf of a nationally recognized borrower. This financing follows CFG’s closing of a $23.6 million bridge-to-HUD loan that supported the refinancing of an existing bridge loan executed by CFG. The transaction supported a 169-bed SNF in Delaware. Read More »
Prime Healthcare’s Largest (Pending) Acquisition
Prime Healthcare has entered into an asset purchase agreement with Ascension for the sale of four senior living facilities (as well as nine hospitals) in Illinois. Upon completion, this acquisition will be the largest in the history of Prime Healthcare and the Prime Healthcare Foundation, a 501(c)(3) public charity. The transaction includes the following senior living communities currently operated by Ascension: Fox Knoll Village (Aurora), Villa Franciscan Place (Joliet), Heritage Village/Heritage Lodge (Kankakee) and Resurrection Place (Park Ridge). As part of the acquisition, Prime is committed to investing $250 million in facility upgrades, capital improvements, substantial technology... Read More »Schedule a demo
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