HJ Sims Closes Three Transactions
After a COVID-19-related change, HJ Sims closed the refinance of a CCRC in Atlanta, Georgia, along with a couple other transactions. After refinancing in 2016 and obtaining a 2018 pre-development financing, the community recently broke ground on an expansion that will add 53 independent living residences scheduled to open in 2022. The $107 million project comprises 39 units in a five-story building and three buildings each with four or five units, all ranging between 1,700 and 3,200 square feet. It will bring the campus’ total number of units to 479, including independent living, assisted living and skilled nursing services. On behalf of the borrower, HJ Sims coordinated a request for... Read More »
Blueprint Wraps Up LTC Properties Portfolio Sale
Blueprint Healthcare Real Estate Advisors announced the final three phases of LTC Properties’ portfolio sale that sold to multiple buyers and closed from late-2019 to the first quarter of this year. It was revealed that seven skilled nursing facilities and about 550 beds in Iowa sold to a private owner/operator. Five of the facilities were located around Des Moines, and all seven offered upside to the new owner if they focused on certain geographical and management-level efficiencies. Humair Sabir and Jacob Gehl of Blueprint handled the deal, which closed in the first quarter. That same pair then sold three skilled nursing facilities in Colorado, with two located in the Denver MSA and one... Read More »
Recent Senior Care M&A Deals, Week Ending May 22, 2020
There are still some deals being announced these days, check out our recent senior care M&A deal chart! Long-Term Care AcquirerTargetPrice Joint ventureAssisted living/memory care community in TXN/A MBK Senior LivingKirkwood... Read More »
MBK Senior Living Buys Orange County Community
California-based MBK Senior Living just acquired an assisted living/memory care community near its Orange County headquarters, with the Cushman & Wakefield team of Richard Swartz, Jay Wagner, Aaron Rosenzweig, Dan Baker and Bailey Nygard handling the deal. Originally built in 1999 with a $1.1 million renovation completed in 2019, the community features 48 units and 59 beds of assisted living and memory care. Since the capital improvements, it has since stabilized and experienced a competitive bidding process. The seller, a joint venture between Cadence Living and an institutional equity partner, previously acquired this community from the not-for-profit HumanGood in 2017. Back then,... Read More »
CBRE Secures Acquisition Financing For HJ Sims/Voralto Living Purchase
The CBRE National Senior Housing team arranged acquisition financing for a North Texas assisted living/memory care community. A joint venture between HJ Sims and Voralto Living was the buyer, obtaining a four-year, floating-rate loan with 24 months of interest only from a national bank. Featuring 60 units, the community was a newer vintage and will join Voralto’s six other communities in Texas, and one in Georgia. Aron Will, Austin Sacco and Adam Mincberg handled the transaction for CBRE. It’s been a busy year already for CBRE’s Senior Housing Debt and Structured Finance team, which has closed over $515 million in debt and equity originations across 15 separate transactions. In the months... Read More »Schedule a demo
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