• Two Struggling SNFs Trade in Indiana

    Evans Senior Investments successfully arranged the sale of two struggling skilled nursing facilities that were family-owned and operated in Northern Indiana. This was not an ordinary transaction process, as both facilities had to receive newly issued Medicare and Medicaid billing numbers given pre-existing issues with the prior hospital... Read More »
  • Ziegler Prices Bonds for North Carolina CCRC

    Ziegler announced the pricing of Carolina Meadows, Inc.’s Series 2024 bonds. Carolina Meadows is a North Carolina not-for-profit that was incorporated in 1983 to develop, own and manage a CCRC in Chatham County, North Carolina, just south of Chapel Hill. The community comprises 476 independent living units, 78 assisted living units (with 95 beds... Read More »
  • BWE Secures Refinance for Virginia IL/AL/MC Community

    BWE secured $47 million to refinance a seniors housing community in Richmond, Virginia. Built in 2015, Discovery Village at the West End comprises 219 units of independent living, assisted living and memory care. There is a 124-unit independent living building and a 95-unit assisted living and memory care building. Discovery Senior Living manages... Read More »
  • Local RCFE Owner/Operator Grows in California

    Sherman & Roylance handled the sale of seniors housing communities in California. The assisted living/memory care communities are in Whittier and comprise 32 beds total. The seller was a long-standing family owner/operator, and the buyer was a local RCFE (Residential Care Facilities for the Elderly) owner/operator looking to expand its... Read More »
  • JLL Expands Alternatives Group

    JLL hired Senior Director Will Childs and Director Brian Spillers to focus on seniors housing and healthcare properties within its alternatives group, led by Executive Managing Director Bryan Lockard. Childs will focus on providing specialized seniors housing valuation and market study services of single assets to large portfolio transactions... Read More »
Ziegler Prices Bonds for North Carolina CCRC

Ziegler Prices Bonds for North Carolina CCRC

Ziegler announced the pricing of Carolina Meadows, Inc.’s Series 2024 bonds. Carolina Meadows is a North Carolina not-for-profit that was incorporated in 1983 to develop, own and manage a CCRC in Chatham County, North Carolina, just south of Chapel Hill. The community comprises 476 independent living units, 78 assisted living units (with 95 beds in operation) and 79 skilled nursing units (with 86 beds in operation). It is the 20th largest not-for-profit single-site CCRC in the United States, according to the 2023 LeadingAge-Ziegler 200.  Carolina Meadows plans to develop, own and operate a replacement skilled nursing facility that will total approximately 122,000 square feet. The... Read More »
BWE Secures Refinance for Virginia IL/AL/MC Community

BWE Secures Refinance for Virginia IL/AL/MC Community

BWE secured $47 million to refinance a seniors housing community in Richmond, Virginia. Built in 2015, Discovery Village at the West End comprises 219 units of independent living, assisted living and memory care. There is a 124-unit independent living building and a 95-unit assisted living and memory care building. Discovery Senior Living manages the community, which was 93% occupied at the time of the refinancing.  Ryan Stoll and Taylor Mokris of BWE arranged the financing on behalf of a large private equity investor. There was strong interest in the financing opportunity from a variety of capital sources. Read More »
Pace Secures Financing for Minnesota CCRC

Pace Secures Financing for Minnesota CCRC

Pace Loan Group closed a $7.1 million PACE loan on a 134-unit new construction, market-rate senior living community in St. Francis, Minnesota. The 20-year loan complements a $30 million qualified tax-exempt loan on the project using Series 2023A bonds with Sunrise Bank as the senior lender. The project team also included Pope Architects and Bauer Design Build.  Vista Prairie at Eagle Point comprises 59 independent living, 43 assisted living and 24 memory care units as well as eight skilled nursing beds. Construction began in June and is expected to be completed by 2025, with a total project cost of $46.58 million, or approximately $350,000 per unit. Vista Prairie Communities, which... Read More »
Ziegler Closes Acquisition Financing for CCRC Group

Ziegler Closes Acquisition Financing for CCRC Group

Ziegler announced the closing of New Jersey-based FellowshipLIFE’s Series 2024 bonds and taxable term loan in an aggregate par amount of $42.5 million for the Senior Living Finance Practice. FellowshipLIFE, a not-for-profit provider of seniors housing, has an obligated group (subject of this financing) that currently consists of only Fellowship Village and is rated “BBB-” by Fitch Ratings. In connection with this financing, the obligated group will purchase a CCRC in Freehold, New Jersey, and bring it into the obligated group, which will result in no change to the current rating. Before the acquisition, the obligated group only included the Fellowship Village CCRC in Basking Ridge, New... Read More »
CBRE Secures Bridge Financing for CPF

CBRE Secures Bridge Financing for CPF

CBRE secured bridge financing for four seniors housing communities on behalf of CPF Living Communities, which has 51 communities under ownership, totaling 6,537 units across 18 states. The communities are currently managed by Grace Management, CPF’s wholly owned management affiliate. Aron Will and Tim Root secured a large loan through a national bank.  The four communities are Acacia Springs (Las Vegas, Nevada MSA), Camellia at Deerwood (Jacksonville, Florida MSA), Northgate Park (Cincinnati, Ohio MSA) and Sedgwick Plaza (Wichita, Kansas MSA). The portfolio totals 329 independent living units, 281 assisted living units and 16 memory care units. Read More »
Meridian Capital Group Closes Out Strong Q2

Meridian Capital Group Closes Out Strong Q2

Meridian Capital Group’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson, closed over $850 million in transaction volume in the second quarter of 2024 across 26 transactions, following $525 million closed in the first quarter of the year across a mix of investment sales and financings. In their most recent transactions, the platform successfully sold four skilled nursing facilities comprising 800 beds in Massachusetts and Connecticut for $60.6 million, or $75,750 per bed. They also sold two skilled nursing facilities in Tennessee with 276 beds for $28 million, or $101,450 per bed, also arranging $22.4 million in financing from a REIT for the acquisition.... Read More »