• 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 »

Experienced providers get into the assisted living/memory care development market

Newcomer Avanti Senior Living is set to open its first two senior living communities in 2015, with one in Cypress, Texas and the other in The Woodlands, Texas. These two communities, both in the Houston metro area, are the first to come in Avanti’s development pipeline of seven total properties (so far) in Texas and Louisiana. While other developers out there certainly have more properties coming down the pike than this newcomer (especially in Texas), Avanti still stands out among its competitors. Co-founders Tim Hekker (who is also the CEO) and Lori Alford (COO) combined bring over 50 years of experience in the operating world of senior care and a unique perspective to the development of... Read More »

Autumn Leaves develops another memory care community in Atlanta MSA

Autumn Leaves has been getting a lot of press recently, from us and other news sources, as they seem to break ground on a new community every other week or so. On September 9, The LaSalle Group announced that Autumn Leaves of Stockbridge, Georgia was set to open in October (just outside of Atlanta). This announcement comes on the heels of one of their memory care communities opening recently in San Antonio (called Stone Oak), and another San Antonio Autumn Leaves community breaking ground on September 17, to be called Autumn Leaves of Westover Hills. The community in Stockbridge will be the company’s third in the Atlanta metro area (having locations in Sugarloaf and Towne Lake as well),... Read More »

Assisted living technology at its best

The opening of The Legacy at Falcon Point (scheduled for October 9) is notable for several reasons. First, it is part of an assisted living boom in Katy, Texas (a suburb of Houston). Second, it claims to be the most technologically advanced senior living community in the state. And third, it is only one piece of a large development pipeline from PinPoint Commercial, which is a developer of industrial, medical and senior housing properties across the southeast and Texas, and its operating partner, Thrive Senior Living, which operates senior living communities in Texas, Georgia and four other southern states. The 164-bed assisted living (120 beds) and memory care (44) community, which broke... Read More »

Fresno, California sees a boom in assisted living development

It’s unusual to see a metro area with a population of nearly a million increase its number of assisted living units by over 30%, in a year. Nevertheless, Fresno, California is looking to add 364 new assisted living units to the city’s existing 579 units, or a 63% increase, (according to NIC MAP) by 2015. A report from Central California Institute for Healthy Aging expects the senior population aged 65 and up to grow considerably in the next five to 10 years, as seniors wishing to retire in California may see Fresno as a less expensive option compared with the rest of the state. Governor Brown recently complicated matters as well, by cutting funding to taxpayer-backed redevelopment... Read More »

Senior Housing Boom in Rochester, Minnesota

The Affordable Care Act called for, in addition to many new reforms, increased continuum of care from America’s health care providers. Health systems have taken to this call to action, increasingly affiliating with other health systems or health care businesses to add a wide variety of services to their portfolios. Concerning long-term care, Rochester, Minnesota may prove to be the best example of this new type of integrated senior/medical care in the country. Fueled in large part by a 20-year, $5 billion expansion plan to Mayo Clinic, three senior housing projects are scheduled for construction or have already broken ground in the county. The Bluffs of Lake City, a $13.4 million project... Read More »

Allen, TX senior care community set to break ground later this month

Christian Care Centers (CCC) of Mesquite, Texas, is set to break ground on its third senior living community in the Dallas-Fort Worth area later this month. Located in the town of Allen, the 72,000 square-foot, two-story facility will offer 32 assisted living units and 36 memory care units, as well as 22 independent living cottages separate from the main building. Once construction is complete, scheduled for August 2015, CCC will operate the facility. The community was designed by REES Architects, which has an office in Dallas, and is to be built by Adolfson & Peterson, a U.S.-based firm consistently ranking in the top 50 construction managers and general contractors in the country.... Read More »