Not-for-Profit Closes First Public Bond Issue in 20+ Years
Ziegler announced the closing of a $30.0 million tax-exempt fixed rate bond issue for Butterfield Trail Village, Inc. (BTV). The Series 2026 bonds were issued through The Fayetteville Public Facilities Board. BTV is a not-for-profit corporation founded by five local churches in 1981 to own and operate a continuing care retirement community on 48-acres in Fayetteville, Arkansas. BTV currently consists of 280 independent living units, 12 assisted living units and 78 skilled nursing units. The proceeds of the Series 2026 bonds will be used, together with other available funds, to finance and refinance construction of a new assisted living community with 38 units, conversion of the existing... Read More »
GEM Realty Closes an Acquisition in South Carolina
The Caliborne at Brickyard Crossing, a Class-A seniors housing community in South Carolina, traded hands with the help of acquisition financing secured by BWE. Taylor Mokris and Ryan Stoll of BWE served as exclusive financial advisor to the buyer, GEM Realty Capital, running a competitive process that sourced numerous quotes. Financing was arranged through a national bank with a dedicated seniors housing vertical. The full-continuum community is situated in Summerville (Charleston MSA) with 78 independent living, 44 assisted living and 20 memory care units. CR Properties developed the asset, which opened in 2022 and achieved stabilization within 12 months, demonstrating strong operating... Read More »
Newmark Reports Slew of February Deals
The Newmark seniors housing team reported an active February, with six investment sales and four significant debt transactions. First, outside of Chicago, the team sold Clarendale of Mokena, a 156-unit seniors housing community featuring independent living, assisted living and memory care services. The community was built in 2015 by Ryan Companies and operated by LCS, which was doing a great job with the community nearly full. Margins were also strong in the high 30s. It was sold as part of a very competitive marketing process, but pricing was not disclosed. Next, Newmark sold Residences of Thomas Circle, a seniors housing community at an irreplaceable site in Washington, D.C. It had... Read More »
AEW Capital Management Divests to Joint Venture
Berkadia Seniors Housing & Healthcare handled the sale and financing of The Sheridan of Green Oaks, which Town Lane and Arcole acquired, marking the joint venture’s fifth seniors housing investment in their inaugural $1.25 billion real estate fund. Built in 2016 by Senior Lifestyle Corporation, the Class-A community comprises 78 independent living, 64 assisted living and 56 memory care units in Lake Bluff, Illinois (Chicagoland). The joint venture will bring Solera Senior Living on to manage the newly acquired property. Dave Fasano, Ross Sanders, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare handled the sale on behalf of AEW Capital Management. Garrett... Read More »
Another Firm Commitment Secured through The Express Lane
NewPoint Real Estate Capital has received its second firm commitment through the HUD Express Lane program. Back in June, when the Express Lane was launched, NewPoint received the first firm commitment the program had issued. In that transaction, a 54-unit memory care community secured approval in less than a week from submission. In the more recent transaction, NewPoint received its second firm commitment within only seven business days. This time, a 130-bed skilled nursing facility in the Hartford, Connecticut MSA, secured the refinance. Since 2023, the owner has invested more than $2.5 million to fully modernize the facility, including upgrades to resident rooms, therapy and memory care... Read More »Schedule a demo
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