Solera and Wheelock Joint Venture in Virginia
A Williamsburg, Virginia senior living community was acquired by a joint venture between Solera Senior Living and Wheelock Street Capital with the help of financing arranged by CBRE National Senior Housing. Built in 2017, the community features 62 assisted living and 21 memory care units with a host of amenities. It was previously owned by Virginia-based developer Robertson Liebler, which was represented by the Berkadia team of Brooks Minford and Tim Cobb in the late-2021 sale. CBRE’s Aron Will, Austin Sacco and Tim Root secured a $16.95 million through Freddie Mac’s Optigo lending platform. The loan came with a seven-year term, four years of interest only and a floating... Read More »
Walker & Dunlop Hire Dedicated Housing Expert in Southern California
Walker & Dunlop, Inc. has hired Gideon Orion as Managing Director on its investment sales platform. Most recently working for Blueprint Healthcare Real Estate Advisors, Mr. Orion is based in Los Angeles and will join the firm’s national seniors housing property sales team led by Managing Director Joshua Jandris. Mr. Orion will be focused on originating and executing seniors housing property sales opportunities across the United States. He has a strong track record and brings additional skill to Walker & Dunlop’s seniors housing sales team, in addition to expanding the firm’s existing footprint in Southern California. In fact, Mr. Orion represents the first dedicated... Read More »
REIT Joint Venture Divests Oklahoma Asset
A joint venture between a large national REIT and a regional owner based in the Tulsa, Oklahoma MSA divested a small assisted living community in Tulsa for an undisclosed price. Built in 1997, The Arbors features 25 beds in 20 units on a 2.07-acre plot. It was just 70% occupied, but no financials were disclosed. An Oklahoma-based private owner stepped in to purchase the property and has plans to convert it to skilled nursing, with a hospice specialty. Nick Cacciabando and Jason Punzel of Senior Living Investment Brokerage marketed the property, helped source the buyer and closed the transaction. Read More »Regions Bank Provides Acquisition Loan for Thriving Idaho Community
We recently learned that in December, Regions Bank Healthcare Real Estate Group closed a $2.85 million three-year balance sheet loan for the acquisition of an 81-unit independent living community in Chubbuck, Idaho. Per unit, the loan amount comes to $35,185 and includes interest only for the term, can be extended for up to two years and can be increased in the future based upon property performance. Chris Honn handled the transaction for Regions. Comprising 82 units and one single-family home, Cottonwood Cove was built in 1987 and has 117,828 square feet on five acres. A western United States-based private equity firm purchased the community for $3.75 million, or $45,000 per unit, at an... Read More »
SLIB Sells Portfolio in Arkansas
Nick Cacciabando and Patrick Burke of Senior Living Investment Brokerage sold a portfolio of three properties located in Arkansas. Consisting of 175 units of private pay assisted living, the properties average 6 acres and 52,000 square feet each and were built in the late 1990s. The seller, a local family owner/operator, developed the three properties and retired from the seniors housing industry with this divestiture. The buyer is a private national company based in New York who will enlist an operating partner to manage the property. This is their first acquisition in the state of Arkansas, but they own and operate communities in several neighboring states. No purchase price was... Read More »Schedule a demo
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