• Ziegler Sells Asset on Behalf of Marquee Capital

    Ziegler, a specialty investment bank, served as exclusive financial advisor to Marquee Capital (formerly, Berengaria Development) on the sale of Terova Senior Living, a 101-unit senior living community in Mequon, Wisconsin. Marquee Capital is the real estate company affiliated with Marcus Investments, LLC, the Marcus’ family office. Located in... Read More »
  • Lument Arranges Two Short-Term Debt Transactions

    Lument announced a couple of financings involving short-term debt, one for an acquisition and one to refinance a stabilizing seniors housing property. First, a long-time operator of a 150-bed skilled nursing facility in Oklahoma City, Oklahoma, was able to take its ownership interest in the facility from 33% to 100% with the help of acquisition... Read More »
  • Cushman & Wakefield/Greystone JV Announces Latest Refinance

    Cushman & Wakefield and Greystone jointly announced the successful refinance of Kōz on Weaver Road, a 100-unit seniors housing community in Snohomish, Washington. Kōz Development, LLC developed the community in 2020 to feature 40 studios, 40 one-bedroom and 20 two-bedroom units in five stories. There are also common spaces on each floor and... Read More »
  • New IL Community Funded by Ziegler

    Investment banking firm Ziegler just closed a $31.96 million tax-exempt financing on behalf of EveryAge (formerly United Church Homes and Services), which is a North Carolina-based not-for-profit that consists of three retirement communities and other programs. The funds will be used to construct BellaAge Hickory, located in downtown Hickory,... Read More »
  • 60 Seconds with Swett: The Keys to Retirement Success

    Last week, a partnership between Age Wave and Edward Jones conducted a survey with The Harris Poll, getting more than 12,000 respondents, the majority of which were retirees and pre-retirees, to answer questions on the keys to success in retirement. With Edward Jones as one of the initiators of the survey, being a major financial advisory firm,... Read More »
New IL Community Funded by Ziegler

New IL Community Funded by Ziegler

Investment banking firm Ziegler just closed a $31.96 million tax-exempt financing on behalf of EveryAge (formerly United Church Homes and Services), which is a North Carolina-based not-for-profit that consists of three retirement communities and other programs. The funds will be used to construct BellaAge Hickory, located in downtown Hickory, North Carolina, which is 15 miles from EveryAge’s Abernathy Laurels, a CCRC. BellaAge will have 95 units consisting of one- and two-bedroom units with monthly rents ranging from $2,043 to $3,632. These units will be considered “affordable” and will fill a void in the local market. There are limited services and the community does not appear to offer... Read More »
Bourne Financial Group Working on Baltimore-Area Development

Bourne Financial Group Working on Baltimore-Area Development

Bourne Financial Group, Park Avenue Lifestyle (part of the Bourne Financial Group family of companies) and Bob Bourne are partnering to develop a large senior living community in Bel Air, Maryland, near Baltimore. The community will be a part of James Run, a 108-acre mixed-use development currently in the works. Once complete, the mixed-use property will consist of 300 residences across six buildings, townhouse villas and apartments totaling 270 units, and the senior living community. There will also be retail space, office/medical space, a daycare, hotel and conference center. Featuring a total of 160 units, the senior living community will have independent living and assisted living... Read More »
Huntington National Bank Finances Discovery Expansion Project

Huntington National Bank Finances Discovery Expansion Project

Construction loan activity has slowed to a relative trickle, but Huntington National Bank closed a $26.5 million loan for the development of a 90-unit, Phase II expansion project at an existing senior living community owned and operated by Discovery Senior Living. Located in Dallas, Texas, the community currently features 175 units of independent living. The 81,500-square-foot expansion would add 72 units of assisted living and 18 of memory care, and it is set to open in 12 months.  Working with Huntington’s Healthcare team for the first time, Discovery Senior Living obtained a $26.5 million loan with a floating interest rate. Lisa Silvers of Huntington handled the... Read More »
New IL Community Funded by Ziegler

JLL Capital Markets Arranges JV Equity for Construction Project

At a time when construction financing is hard to come by, JLL Capital Markets announced that it worked on behalf of Centric Development LLC to arrange joint venture equity for a seniors housing development project in Fredericksburg, Virginia. Located across the street from Spotsylvania Regional Medical Center, the project is a 153,000-square-foot building on a 16.2-acre parcel that will contain 106 assisted living one- and two-bedroom units and 36 memory care units. It is set to open in 2025 and will include luxury finishes. The JLL Capital Markets Advisory team was led by Managing Director Joel Mendes, Senior Managing Director Anthony T. Fertitta Jr. and Associate Billy... Read More »
Upscale Seniors Housing in the News

Upscale Seniors Housing in the News

As the recovery from the pandemic seems to be slowing (or stabilizing), we have always said that the more upscale communities would have a better go of it than the more middle market ones. Location seems to be more important than age, as well.  We toured a large community in Stamford, Connecticut that opened last year, and another smaller one in Darien, Connecticut that opened more than 25 years ago. The former is operated by Epoch Senior Living and the latter by Atria Senior Living. We actually went to the Atria property for the open house 25 years ago when CareMatrix (Abe Gosman) built it. Both communities were very nice and doing very well but could not have been more different,... Read More »
CCRC in the Works in Los Angeles Area

CCRC in the Works in Los Angeles Area

Spieker Senior Development Partners broke ground on a major CCRC project in Woodland Hills, California, about 25 miles northwest of Los Angeles. Wisteria at Warner Center will feature six stories on 17 acres, with a total of 695 units, the vast majority of which would be reserved for independent living residents. In addition to the independent living, assisted living, memory care and skilled nursing services, the community will include over 1.1 million square feet of medical office space. Entrance fees will start in the $500,000s and surpass $1 million for the larger penthouses, which can reach nearly 3,000 square feet. KTGY designed the project, and W.E. O’Neil Construction is the... Read More »