CCRC Lands Construction Financing
Ziegler announced the closing of The Moorings of Arlington Heights’ $162.86 million Series 2025 bonds issued through the Illinois Finance Authority. The Moorings of Arlington Heights (The Moorings) is a CCRC situated on a 45-acre campus in Arlington Heights, Illinois. The community consists of 264 independent living apartments and villas, 73 assisted living apartments, 20 memory care assisted living apartments, 57 skilled nursing and rehab beds, and 39 intermediate and skilled memory care suites. The Moorings is an affiliate of Presbyterian Living, an Illinois not-for-profit organization based in Skokie, Illinois. Presbyterian Living’s portfolio features four communities and... Read More »
Bain Capital and Capitol Seniors Housing Refinance Near Manhattan
JLL Capital Markets announced that it arranged a $48 million refinancing for two Class-A seniors housing communities in New York and New Jersey. JLL’s Seniors Housing Debt Advisory team worked on behalf of the borrower, Bain Capital Real Estate and Capitol Seniors Housing, to place the three-year, floating-rate loan with a large regional bank. The Chelsea at New City was built in 2021 and consists of 80 assisted living, memory care and respite care units. On-site amenities include restaurant-inspired meals, beauty/barber salon, sports lounge, health and wellness programs, daily activities calendar, computer lab, movie theater, transportation services and more. The... Read More »
Private Investor and Operator Close Refinance
CBRE National Senior Housing arranged a refinancing for Meadowbrook on behalf of a joint venture between Harrison Street Asset Management and Dial Senior Living. Aron Will and Tim Root arranged the financing, originating a four-year floating-rate loan. Situated near downtown Kansas City in Prairie Village, Kansas, Meadowbrook consists of four stories with a total of 222 units, including independent living, assisted living and memory care. Harrison Street has closed 332 communities totaling more than 43,000 units since 2005. Seniors housing operator Dial Senior Living manages 24 communities across Nebraska, Iowa, Illinois, Missouri, Kansas and Colorado. The... Read More »
Benchmark Senior Living and National Development Expand Partnership
A national developer/investor engaged Blueprint to sell a high performing, Class-A community owned in their legacy debt fund vehicle. The asset sits in White River Junction, Vermont, and was developed in 2019 by local citizens Brooke Ciradelli and Byron Hathorn. They partnered with LCS to operate the building, The Village at White River Junction, which offers 80 assisted living and memory care units. In the community’s earlier days of operation, Columbia Pacific Advisors had provided a $29 million refinancing loan to the project to address cash-flow and lease-up problems. The developers failed to pay their debt, resulting in foreclosure and a transition of... Read More »
National Bank Provides Acquisition Term Financing
BMO’s Healthcare Real Estate Finance group acted as sole lender on an acquisition term financing for Belmont Village Aliso Viejo, a trophy 156-unit assisted living/memory care community in Aliso Viejo, California. The community is owned by Harrison Street Asset Management and Belmont Village Senior Living. Belmont Senior Living operates the community, and developed it. It originally opened its doors in 2019. Aron Will and John Sweeny of CBRE handled the sale. Will and Matthew Kuronen arranged the four-year, floating-rate acquisition loan with a full term of interest only. Read More »Schedule a demo
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