Acquisition Financing Secured by Joint Venture
CBRE’s Aron Will and Michael Cregan closed a $45.5 million acquisition loan for a joint venture between an institutional investor and its operating partner. The acquired Class-A community is located in the Southeast. CBRE also handled the sale of the community. Separately, the CBRE team closed a nine-figure cash-out refinance for an undisclosed client. The transactions come after the closing of acquisition financing for Belmont Village Aliso Viejo. Aron Will and John Sweeny represented the joint venture seller in the deal, while Will and Matthew Kuronen arranged the acquisition loan from a national bank. The loan came with a four-year term, a full term of interest only and a floating... Read More »
Grace Management Adds Five Ventas Communities
Grace Management expanded its relationship with Ventas, adding five seniors housing communities owned by the REIT to its operating portfolio. The communities were previously managed under a triple-net lease structure. They include Brookdale Lake Shore Drive in Chicago, Illinois, Brookdale Northbrook in Northbrook, Illinois, Brookdale Springs Mesa in Mesa, Arizona, Brookdale Peoria in Peoria, Arizona, and Brookdale Bartlesville South in Bartlesville, Oklahoma. Grace will rename the Chicago community The Hallmark, and the remaining four properties will adopt the “Inspirations” brand. The Hallmark will undergo a multi-million dollar renovation to maximize its appeal with its lakefront... Read More »
Seller Boosts Census Ahead of Sale to JV
Senwell Senior Investment Advisors sold Rose Hill Retirement Community, a 66-unit, 87-bed assisted living community in Marion, North Carolina. Originally built as a hospital, Rose Hill has been transformed by the seller over the past two decades into a senior care community. After a previous attempt to sell the community was unsuccessful, ownership engaged Senwell, which connected the owners with an experienced operator with an existing portfolio. During the due diligence process, census improved, resulting in a stronger and more stabilized business than originally anticipated. That’s a broker’s dream. Rose Hill’s strong private pay model, minimal competition in the local market and stable... Read More »
Joint Venture Buys Orange County Community
A high-end seniors housing community in Orange County sold with the help of CBRE National Senior Housing. Aron Will and John Sweeny represented the joint venture seller in the deal, while Will and Matthew Kuronen arranged acquisition financing from a national bank. The loan came with a four-year term, a full term of interest only and a floating rate. A joint venture between Belmont Village Senior Living and Harrison Street Asset Management bought the asset for an undisclosed price. But considering the affluent market and the high-quality Belmont Village brand, we believe it was a high price. Belmont Village Aliso Viejo was built in 2019 and encompasses 3.4 acres and features a... Read More »
ESI Closes Two SNF Deals
Evans Senior Investments handled a sale on behalf of an institutional owner/operator in California. The 64-bed skilled nursing facility is in California. The ultimate buyer was also based in California and entered into a new long-term lease agreement with Sun Mar Healthcare, a regional operator with a portfolio of skilled nursing and post-acute care facilities across the Golden State. ESI facilitated the sale of another skilled nursing facility in a separate transaction. A long-time regional owner/operator that was looking to divest a non-core asset engaged the firm. Eastview Rehabilitation & Healthcare Center, a 92-bed skilled nursing facility in Birmingham, Alabama, demonstrated... Read More »Schedule a demo
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