Joint Venture Divests Third Class-A Asset
Caddis Partners and Singerman Real Estate have divested another seniors housing community, Heartis Fayetteville. This comes shortly after the joint venture’s sale of Heartis Venice and Heartis Longview. Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare represented the seller in all three transactions. Heartis Fayetteville is a 167-unit, Class-A asset in the Atlanta, Georgia MSA, that offers independent living, assisted living and memory care services. The marketing process was highly competitive, with Capitol Seniors Housing selected as the ultimate buyer. The company will rebrand the community as Village Park Fayetteville and bring... Read More »
Berkadia Announces Array of Closings
Berkadia is riding a transaction hot streak, closing 19 property sales in the last 45 days. The activity included a portfolio featuring five assisted living/memory care communities across Utah, Wisconsin and Minnesota sold to Jaybird Capital, an affiliate of Jaybird Senior Living, through HUD assumptions. Jaybird assumed management of the communities in October and was able to stabilize operations. The company is targeting an additional 15 properties to acquire in 2026. The Berkadia team also closed the sale of The Waters of Eden Prairie, a 156-unit full-continuum seniors housing community in the Minneapolis, Minnesota MSA. The property was sold by an institutional private equity firm and... Read More »
Tremper Capital Group Closes Several Financings
Tremper Capital Group showed off its variety with a series of financings closed for clients across the country. They included a construction loan, an acquisition loan, a bank refinance and a portfolio financing. First, the team closed non-recourse construction financing for an assisted living/memory care community in the Dallas-Fort Worth area. The financing supports the continued expansion of a high-quality seniors housing platform backed by Braemar Partners and operated by The Arbor Company. Construction projects are still getting done (and financed), as long as they are catering to high-income seniors in high-growth markets, with best-in-class operators, of course. Next, TCG closed... Read More »
Upstate New York SNF Trades Between Not-for-Profits
Joe Knapp of the Knapp-Stahler Group at Marcus & Millichap handled the sale of a skilled nursing facility in upstate New York. The Center For Nursing And Rehab in Hoosick Falls, New York, comprises 82 beds in a single-story building that sits on four acres. It was built in 1954, but renovated in 1979 and 1995. Apparently, the facility was generating large annual losses due to empty beds, as well as other factors. But there was strong interest in the property, with not-for-profit Essential Health selected as the buyer. Essential Health had been consulting with the not-for-profit medical system-seller, Southwestern Vermont Health Care, for two years on a turnaround plan, and... Read More »
Acquisition Financing Closed for Distressed California Community
Private debt fund and direct commercial real estate lender Wilshire Finance Partners closed an $8.15 million first lien bridge loan for the acquisition and repositioning of a distressed seniors housing community in California. The financing included reserves specifically allocated for capital improvements and operational support during the transition period. The assisted living community had been foreclosed on by its lender and placed into receivership as a result of operational and financial underperformance under the previous owner. The receiver made incremental improvements, but at the time of sale there was still plenty of upside potential. The financing was originated through... Read More »Schedule a demo
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