• 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 »

Wichita Presbyterian Manor redevelopment: Phase 1 nearing completion

Presbyterian Manors of Mid-America (PMMA) is on track to complete the first phase of its $35 million redevelopment of Wichita Presbyterian Manor by the end of this summer. Phase one of the overall project includes the transformation of 48 assisted living apartments, 24 memory care suites, and 50 skilled nursing suites. Phase one also includes a Post-Acute to Home (PATH) rehabilitation wing and new health-care common spaces, including a new main kitchen. The redevelopment project will allow Wichita Presbyterian Manor to provide memory care services for the first time. Phase two of the campus expansion will add The Westerly Residences at Wichita Presbyterian Manor, a new independent living... Read More »

Second Autumn Leaves community for Oklahoma City

The LaSalle Group recently broke ground on its latest Autumn Leaves-branded memory-care community, a 30,000 square-foot, $9.5 million project in Oklahoma City that will serve nearly 50 residents dealing with Alzheimer’s and other forms of dementia. Autumn Leaves of Southwest Oklahoma City is The LaSalle Group’s second venture in the Oklahoma City metro area; the company recently opened Autumn Leaves of Edmond in nearby Edmond, Oklahoma. Autumn Leaves of Southwest Oklahoma City will feature LaSalle’s innovative building design, along with cutting-edge technology, to ensure a calm, safe, and engaging environment for residents. Unique to this particular new property, however, will be a... Read More »

Trilogy’s new communities open in Indiana, Michigan

Louisville, Kentucky-based Trilogy Health Services just celebrated the opening of its 81st and 82nd senior living health communities in the Midwest: Cedar Creek Health Campus, in Lowell, Indiana, opened on June 19; The Willows at Okemos, in Okemos, Michigan, opened a week later on June 26. Cedar Creek and The Willows at Okemos each offer assisted living, short-term rehabilitation, skilled nursing, and transitional care. Cedar Creek has the capacity to accommodate 24 residents in assisted living and 58 residents in its health center. The Willows at Okemos also can accommodate 24 residents in assisted living but 68 residents in its health center. Cedar Creek also offers specialized memory... Read More »

LCB Senior Living and The Congress Companies begin next project

The Residence at Five Corners, a senior living community in Easton, Massachusetts, is the latest project being undertaken by developer LCB Senior Living, LLC, and The Congress Companies, a full-service construction firm that specializes in senior living projects. The 84,000 square-foot, 74-unit community will offer independent living and assisted living apartments (studio, one-bedroom, and two-bedroom), along with common areas that include comfortable living rooms, a library, cafés, and an exercise room. Residents will also enjoy access to private dining, entertainment, and recreation activities. A separate memory care wing will have its own common areas and amenities in a secure... Read More »

Spectrum opens Meadow Brook Senior Living in Fishers, Indiana

Denver-based Spectrum Retirement Communities announced the completion of its newest community, Meadow Brook Senior Living in Fishers, Indiana—a fast-growing suburb of Indianapolis. The 80,250-square-foot community, located just off Easy Street in the town of Fishers, will offer a total of 88 rental units: 10 independent living, 60 assisted living, and 18 memory care. Residences include studio, one-, and two-bedroom apartments. As with all Spectrum communities, Meadow Brook hosts on-site personal care services and provides licensed professionals who offer occupational and speech therapies, monthly health screenings, and physical rehabilitation. Meadow Brook features two levels of memory... Read More »

Jewish Home Lifecare offers affordable assisted living in the Bronx

Jewish Home Lifecare recently began welcoming residents to University Avenue Assisted Living, a new program on the organization’s five-acre Harry and Jeanette Weinberg Campus in the Bronx, New York. Specifically available to low-income seniors in the borough, University Avenue Assisted Living is one of the first facilities of its kind in the Bronx that is also Medicaid-eligible. The brand-new, five-story building was funded by a $26 million grant from the New York State Department of Health’s Health Care Efficiency and Affordability Law (HEAL) program. University Avenue Assisted Living has 72 studio apartments, each with a kitchenette, private bathroom, resident-controlled heating and... Read More »