Greystone Refinances in Indiana and Arizona
Greystone placed a total of $23.5 million in bank financing to refinance two senior housing properties in Indiana and Arizona. The separate transactions were originated by Cary Tremper, Tyler Armstrong, and Matt Miller of Greystone, on behalf of Spectrum Retirement Communities. Lone Mountain is a 50-unit memory care facility located in the Phoenix market, which was refinanced with a $11.275 million loan. The newly-constructed, Class-A property opened in March 2018, and includes six one-bedroom units and 44 studio units. Amenities at the property include private dining, library, game room, exercise room, activity room, computer room, salon, and terraces and courtyard features. Meadow Brook... Read More »Artemis, ACG and MorningStar Refinance Oregon Property
A joint venture between Artemis Real Estate Partners, American Capital Group and MorningStar Senior Living just refinanced its 142-unit independent living community in Hillsboro, Oregon with the help of CBRE National Senior Housing’s Aron Will, Austin Sacco and Tim Root. Situated on 1.25 acres, the community opened this month as the first brand-new and high-quality IL community built in the last six years in the local market. It is located less than a mile from the 126-bed Kaiser Permanente Westside Medical Center and from The Streets of Tanasbourne, a 386,000-square-foot outdoor shopping mall. MorningStar is the operator. CBRE secured a $33.1 million non-recourse loan through a national... Read More »Walker & Dunlop Works on Calamar’s Senior Apartments Sale
We learned that the Walker & Dunlop Seniors Housing Investment Sales team of Josh Jandris, Brett Gardner, Tony Cassie, Mark Myers, Gideon Orion, Jordyn Berger, Alex Vice, and Sam Thompson represented Calamar in the sale of its 25-property senior apartment/active adult portfolio under the brand name “Connect55+” for $502 million, or $172,000 per unit. They are located primarily in non-coastal East Coast and Midwest locations, with concentrations in western New York and Pennsylvania and the Kansas City area. Monthly rents average $1,300, and the portfolio maintained high levels of occupancy throughout the pandemic. There was an average length of stay above five years. There were 18... Read More »Takeaways from the Active Adult Webinar
On June 23rd, 2022, Ben Swett, Editor of The SeniorCare Investor, spoke with two expert panelists on the active adult market, the opportunities within it and the risks. Ben was joined by Jane Arthur Roslovic, CEO and Co-Founder of Treplus Communities, and Leland Manning, Director of Newmark, to discuss what this new asset class even is, which markets are ripe for development and what the current state of the active adult M&A market looks like. Mr. Swett kicked off the webinar by asking the panelists to define the active adult market, which has taken off over the past few years. Ms. Roslovic and Mr. Manning spoke about active adult as being a “state of mind” for people aged 55 and... Read More »Inspired Healthcare Capital Makes Fourth Acquisition of 2022
Inspired Healthcare Capital (IHC) recently acquired Homestead at Hamilton, a 195-unit independent living, assisted living & memory care community located in Hamilton, New Jersey. The purchase price of the community was $97,500,000. IHC is a Scottsdale, Arizona-based private real estate investment firm that focuses on the seniors housing sector. This was IHC’s 4th acquisition in 2022, after closing on nine senior housing transactions in 2021. Homestead at Hamilton was built in 2017 for a cost of approximately $60 million, or $308,000 per unit. The Class-A building has 96 independent living (opened in November 2017), 75 assisted living and 24 memory care units (licensed in April 2018). A... Read More »Schedule a demo
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