Silverado Senior Living Secures Financing
Silverado Senior Living acquired two memory care communities with the help of acquisition financing closed in part by Capital Funding Group. Silverado had previously managed both communities prior to the deal. The transaction was funded by senior and junior debt totaling $32.25 million. Part of that was a $9.95 million subordinate loan closed by CFG. Silverado also established a new lending relationship by closing the loan with CFG. Read More »
Sunrise Senior Living-Operated AL Community Changes Hands
A Sunrise Senior Living-operated assisted living community in Franklin Lakes, New Jersey, found a new owner with the help of the Seniors Housing team and the New Jersey team at JLL Capital Markets. Built in 2021, Sunrise of Franklin Lakes offers 51 assisted living and 37 memory care units in studio, one- and two-bedroom layouts, with semi-private options for memory care. JLL represented the seller and procured the undisclosed buyer in the transaction. Sunrise was retained as the property’s manager. Read More »
Owner/Operator Purchases SNF Portfolio
An Ohio-based owner/operator engaged Evans Senior Investments to sell a portfolio of skilled nursing facilities in the greater Akron area. The owner had been looking to recycle capital and successfully sold the three properties consisting of 249 skilled nursing beds and 161 seniors housing units. They included The Briarwood in Stow (built in 1991), Jackson Ridge in Canal Fulton (built in 1978) and Glenwood Care in Canton (also built in 1978). All three properties had assumable HUD debt, generating significant interest from investors during the marketing property. A growing owner/operator with a strong presence in the state was ultimately selected. The purchase price was not... Read More »
Tutera Senior Living Acquires in Illinois
Tutera Senior Living & Health Care announced its latest acquisition involving a 75-unit assisted living/memory care community in Matteson, Illinois. Built in 2021 for a cost of around $21 million, or $280,000 per unit, the community formerly operated under the name Alexi Senior Living for just eight months before closing in 2022. Tutera is making improvements and will reopen the community in early Spring. Since December 2024, Tutera has already invested $200,000 upgrading the community’s safety and mechanical equipment, systems and protocols with the assistance of Arch Design Builders. In addition, Tutera is completing minor remodeling and refreshing to enhance the property’s new and... Read More »
Joint Venture Secures Financing
Live Oak Bank provided financing for the acquisition of Whisper Woods of Smithtown by a joint venture between National Development and Benchmark Senior Living. The previous owner, Sculptor Real Estate, refinanced the property in 2023. Live Oak provided that $29 million loan as well. Built in 2018, Whisper Woods is a 125-bed assisted living and memory care community in Suffolk County, New York. There are 71 AL units and 30 MC units across studio, one- and two-bedroom floorplans. National Development and Benchmark also recently broke ground on an 86-unit (63 AL and 23 MC) seniors housing community in Scotch Plains, New Jersey. This marks the developer’s entry into the state. Opening is... Read More »Schedule a demo
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