• Healthcare REIT Divests SNF to In-Place Operating Partner

    Senior Living Investment Brokerage returned to West Des Moines, Iowa, to sell a skilled nursing facility that it had previously sold in 2019. A healthcare REIT was the buyer back then and is now selling the facility to its in-place regional operating partner. Built in 2004, Arbor Springs features 56 beds on an attractive four-acre campus about 10... Read More »
  • Near-Stabilized AL/MC Community Lands Refinance

    Carnegie Capital closed a bridge refinance for a 50-unit assisted living/memory care community in the Houston, Texas MSA. Four years ago, the property was bought by a California-based operator with a growing footprint in Texas. Performance was approximately two to three months from stabilization, but with the acquisition loan maturity looming, a... Read More »
  • Record-Setting HUD Express Lane Application to Commitment

    Cambridge Realty Capital provided a $6.15 million loan to refinance Avalon Memory Care Keller, a 50-bed stand-alone memory care community in Keller, Texas (Dallas-Fort Worth MSA). The fully amortized, 35-year HUD loan was provided for the owner, a Texas limited liability company, that wished to recast bank debt into a long-term non-recourse... Read More »
  • Large Healthcare Owner Receives Financing

    An owner of more than 80 healthcare properties spanning nine states secured bridge and working capital financing for its skilled nursing portfolio in Washington. The financing includes a $40 million bridge loan and a $6 million working capital line of credit, with a 36-month initial term. MONTICELLOAM provided the funding. Read More »
  • Out-of-State Owner Divests to Investor

    A couple of assisted living and memory care communities in Eastern Tennessee recently traded hands. The two properties comprise more than 100 units. A Chicago-based investor aligned with the seller’s long-term vision for the communities acquired the assets, and partnered with a regional operator that was looking to grow their presence in the... Read More »

Buckeye Community Hope Foundation maximizes LIHTC

The next venture for Buckeye Community Hope Foundation (BCHF), an Ohio-based not-for-profit developer of affordable housing, will be a 34-unit project for low- to moderate-income seniors in Falls Township, Ohio. The BCHF project is once again being facilitated by the Ohio Housing Finance Agency’s Low-Income Housing Tax Credit (LIHTC) program. Valley View Pines will comprise 18 one-bedroom and 16 two-bedroom apartments in a row of single-level, ranch-style homes, which aids accessibility; the materials used in construction will be “eco-friendly.” BCHF will receive federal tax credits of $446,509 during each of the next 10 years to offset the cost of construction. The LIHTC program then... Read More »

Trilogy Health Services opens its 80th community

The Willows at Citation in Lexington, Kentucky, is Trilogy Health Services’ newest senior living community—its 80th senior living campus and its second in Lexington. The new campus offers assisted living, long-term care, short-term rehab, skilled nursing, personal care, and respite services. Designed using Trilogy’s village center residential model, The Willows at Citation features small neighborhood clusters that surround a communal gathering place—a village center—with a restaurant, ice cream parlor, health club, and other amenities where residents can meet and greet each other and build lasting friendships. Residents also enjoy chef-prepared meals, private dining rooms, complimentary... Read More »

Shared-campus concept proposed in Hudson, Wisconsin

Integrating medical suite services within a continuum of care is what Presbyterian Homes & Services has in mind for 14.6 acres of land currently owned by Hudson Hospital & Clinics in Hudson, Wisconsin. Presbyterian Homes plans to purchase the land—a wooded area adjacent to the hospital—and build a 160-unit senior apartment and assisted living complex on it. The shared-campus concept calls for 95 independent living, 46 assisted living, and 19 memory care residences in a four-story building, along with a 6,000 square-foot medical office suite and a 24,000 square foot town center with a bistro, theater, library, auditorium, chapel, fitness center, and hair salon. A future 50-suite... Read More »

It may be spring, but Autumn Leaves are burgeoning

One week before The LaSalle Group broke ground on its ninth memory-care community in suburban Chicago, the company celebrated the grand opening of its second memory care community in the Atlanta area. On May 1, Autumn Leaves of Towne Lake— a 28,000 square-foot, $9.8 million community located in Woodstock, Georgia, about 30 miles north of Atlanta—opened with an official ribbon-cutting ceremony. The Towne Lake community will provide specialized services to 50 residents living with Alzheimer’s disease, dementia, or memory impairment. Then on May 7, Autumn Leaves of Arlington Heights, located 25 miles northwest of downtown Chicago, had its official groundbreaking ceremony. The Arlington... Read More »

Buckner planning its eighth CCRC in Texas

Buckner International announced its newest senior housing development, a high-rise CCRC in Dallas to be called Ventana by Buckner. The $118 million project will be built on nearly three acres of land in the North Park neighborhood of Dallas and feature twin 12-story towers with a total of 314 apartments: 182 independent living, 36 assisted living, 24 memory care, 48 skilled nursing, and 24 short-term rehabilitation. The project will also have three dining areas, a wellness center, pool, chapel, theater, business center, day spa, roof terraces, gardens, and indoor parking. D2 Architecture, also in Dallas, designed the community, which is expected to take four years to complete. Buckner... Read More »

Cadbury expanding its Delaware presence

“Development” is more than bricks and mortar. For example, Cadbury Senior Services has expanded its presence in Delaware by offering seniors in that state the signature “continuing care retirement community without walls” offering that Cadbury developed back in 1998. Operating for 17 years out of Cadbury at Cherry Hill, the provider’s flagship CCRC, Cadbury at Home brings home-care services to New Jersey seniors who prefer to age in place in their own home rather than move into a senior living community. Cadbury also has a CCRC in Delaware, Cadbury at Lewes. A pair of events held last October to introduce the service to Delaware seniors attracted more than 400 attendees—12 of whom signed... Read More »