CBRE Facilitates Augusta Acquisition in Georgia
CBRE National Senior Housing’s team consisting of Aron Will, John L. Sweeny, Jr., Garrett Sacco and Scott Bray completed the sale and acquisition financing for a fully occupied assisted living/memory care community in Augusta, Georgia. Built in 2019, Thrive at Augusta comprises 85 units on 17 acres and despite opening just before the pandemic, it did indeed reach 100% occupancy by the time of the transaction. It caters to a high-income population and features a number of high-end amenities. New York City-based Drake Real Estate Partners ultimately sold the property to Inspired Healthcare Capital. Aron Will and Adam Mincberg of CBRE also arranged a five-year, fixed-rate $16.8 million loan... Read More »
Berkadia Closes Seven Financings
Berkadia announced $177 million in financings across seven deals, with Bianca Andujo, Ed Williams, Jay Healy, Rafael Nobo and Chris Cain working on the transactions. There were four HUD loans, the largest being a $62 million arranged by Mr. Williams for a senior living community in Portland, Oregon. At 70% loan-to-value, the financing retired a Berkadia-arranged 232/223(a)(7) loan from 2021 and a surplus cash note provided by Berkadia’s Proprietary Lending Group. Mr. Williams also secured a $13.65 million loan for a 100-unit assisted living/memory care community in Arizona that qualified for reduced seasoning and refinanced a cash-out loan originated in late 2021. The cash-out loan... Read More »
Erickson Senior Living Opens Phase I of $500 Million Development
A new independent living community, Avery Point by Erickson Senior Living, is set to open after two years of construction. Erickson Senior Living developed the community and will operate it going forward. Eventually, the IL portion will be part of a massive 1,400-unit CCRC on 94 acres in Goochland, Virginia (Richmond MSA). Construction started in 2019 with Phase I consisting of 216 independent living apartments in one- and two-bedroom configurations. Erickson announced that Phase I is already filled to capacity and they are expecting the Phase II developments to be sold out as well. Moseley Architects is the architect for the $500-million-dollar development project, which should come out... Read More »
Buyer Enters SNF Market with Ohio Acquisition
Evans Senior Investments arranged the sale of a 99-bed skilled nursing facility in Ohio. Built in phases from 1946 through 1985, the facility received two significant renovations in 2013 and 2019. It comprises 47 private rooms and 26 semi private rooms and was 70% occupied at the time of marketing. The high number of private rooms meant that the facility operated with an above-average quality mix, but it was operating around breakeven. This was the buyer’s first skilled nursing acquisition, although it was involved in the operations for a regional owner/operator for years. Read More »The Palms Nursing & Rehabilitation Involved in M&A Deal Tracked in LevinPro Database
The Palms Nursing & Rehabilitation has been linked to a merger or acquisition in the LevinPro M&A deal database. The Medicare-licensed facility is a not for profit skilled nursing facility situated at 5607 Everhart Rd in Corpus Christi, Texas. LevinPro, which tracks M&A activity across more than a dozen healthcare sectors from hospitals and home health to medical real estate and biopharma, profiled the transaction involving The Palms Nursing & Rehabilitation in its deal database, which is available to subscribers here. LevinPro has tracked thousands of deals in the skilled nursing facility sector throughout its history. To see the underlying deal data, or for information on... Read More »Schedule a demo
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