CBRE Secures Acquisition Financing For Florida SH Community
CBRE Capital Markets secured acquisition financing for a seniors housing community in Ponte Vedra Beach, Florida, on behalf of Starling, a regional senior living development and management company based in Jacksonville, Florida. Built in 2015, Starling at Ponte Vedra features 86 assisted living and memory care units. The borrower will use a portion of loan proceeds to effectuate a capital expenditure program. CBRE secured this three-year, $16.2 million loan through Live Oak Bank. Aron Will, Phil Rachels and Michael Cregan arranged the financing, while Brad Clousing and Daniel Geraghty of Senior Living Investment Brokerage handled the sale. Read More »
Helios Handles Sale, Recap and Financing
Helios Healthcare Advisors structured the sale and recapitalization of an assisted living and memory care provider in Wisconsin. Through the provider’s lender, a publicly traded regional bank with $23 billion in assets, Helios was brought into the process to advise all stakeholders on a viable path to exit the credit and assets associated with the organization. The first step was divesting the non-performing assets to regional operators including behavioral health providers in Wisconsin, which Helios handled. Then, they repackaged the remaining performing assets, brought in a new operator, and arranged the debt to recapitalize the portfolio, keeping the existing financial partner involved... Read More »
Partnership Adds Another Georgia Asset
Scribner Capital, LLC and William James Group, LLC (WJG) added to their Georgia holdings by acquiring Insignia of Newnan, a 40-unit assisted living/memory care community in Newnan, located between Atlanta and Columbus. Bradley Clousing and Daniel Geraghty of Senior Living Investment Brokerage handled the transaction. The community will be rebranded as The Haven at Newnan and added to an existing joint venture that previously acquired two Georgia seniors housing communities. Those assets included River Place (40 units) in Forsyth and Sunny Grove (34 units) in Barnesville. Scribner and WJG had purchased them in July 2022 for an undisclosed price. In that deal, Scribner provided... Read More »
Meridian Reports First Quarter Transaction Volume
The first quarter is in the books, and Meridian Capital Group’s Senior Housing and Healthcare platform, led by Ari Adlerstein and Josh Simpson, closed $575 million in transaction volume in the first three months of the year, following more than $5 billion closed by the platform in 2023. Most recently, the team sold six skilled nursing facilities comprising 517 beds in Indiana for $37.5 million, or $72,500 per bed, and arranged $34.8 million in financing from a finance company along with an $8.5 million A/R line for the acquisition. They also arranged $29.5 million in financing from a commercial bank to refinance a New Jersey property totaling 85 assisted living and 34 memory care... Read More »
LSS Absorbs Diakon
Two large not-for-profits announced that they were combining to create the 12th largest not-for-profit senior living organization in the country. Lutheran Senior Services, based in St. Louis, Missouri, signed an agreement to bring Diakon Senior Living operations and four CCRCs under its umbrella. Both organizations were described by Adam Marles, LSS President and CEO, as financially healthy, not-for-profit organizations that are coming together strategically in the interest of better serving seniors. That has been a common theme among not-for-profits since the pandemic, as they have often required scale to survive in a lower-occupancy and lower-margin environment. But not all have been as... Read More »Schedule a demo
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