Capital Funding Group Arranges California Construction Loan
Capital Funding Group has closed a $33 million construction loan for the ground-up development of Varenita of Temecula, a 108-unit assisted living and memory care community in Temecula, California. CFG has recently created a new division, the Seniors Housing Lending Platform, who ultimately handled this loan. The loan features a Commercial Property-Assessed Clean Energy (CPACE) structure that allows building owners to borrow money for energy efficiency, renewable energy, or other projects and make repayments via an assessment on their property tax bill. The financing was executed on behalf of real estate development firm and nationally recognized borrower, Griffin Living. Brightwater... Read More »60 Seconds with Swett: Home Health Care Vs. Senior Care
I’m here in Chicago at the Home Care Innovation and Investment Conference and it’s been quite illuminating so far, a lot of talk about SNF at home or even hospital at home. So home health care providers are trying to demonstrate that they can indeed care for higher acuity patients and hopefully get paid for it. So it will be interesting to see how SNFs react to that. Also, home health providers are going through a lot of the same difficulties as skilled nursing providers and seniors housing providers, especially in the labor fund in terms of finding labor and paying for it. But also CMS just came out on Friday with a 4.2% cut to home health reimbursement rates. So SNFs... Read More »Historic Hamilton Heights Sells in West Hartford
Real estate investment firm Lloyd Jones just announced its fourth seniors housing acquisition of the year, so far, with the purchase of a Hamilton Heights in West Hartford, Connecticut. Built as a Roman Catholic boarding school for girls in 1905, the property was adapted into an independent living, assisted living, and memory care community in 1997. The property features a Georgian revival facade with four and five stories that stretch over ten acres, comprising 113 total units. It was also recently renovated and shows well. The property has sold several times over the years, falling into the hands of Ventas and Atria Senior Living for a number of years until December 2021, when they... Read More »Two Assisted Living Communities Trade Near Seattle
Blueprint Healthcare Real Estate Advisors closed the sale of two assisted living communities in the greater Seattle, Washington area on behalf of a national operator client. The first community, located in Renton, was built in 1983 and comprises 80 assisted living units. It had a strong operation, maintaining occupancy rates above 95% for the last three years running. Both private pay and Medicaid residents made up the census, and with intention to stay affordable, rents start at $2,800 a month. An internet search combined with our own outreach to the community confirmed that Brookdale Senior Living was the previous owner and operator of the property, which will be renamed Green Lake... Read More »Avamere Exits New Mexico Market
Wilsonville, Oregon-based Avamere Family of Companies has exited the state of New Mexico with the sale of its 85-bed transitional care facility in Albuquerque. The short-term rehab facility was a popular referral destination for the area’s largest hospitals, and it was experiencing rapid census growth following an operator transition in 2019. Financial performance was improving too, with total revenues exceeding $8.5 million. Following the marketing process, five competitive offers were submitted, with a regional owner/operator looking to expand their footprint in the state, ultimately succeeding. Blueprint Healthcare Real Estate Advisors Amy Sitzman, Jacob Gehl, Humair Sabir and... Read More »Schedule a demo
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