Livingston Buys Active Adult Community Outside Philadelphia
Livingston Street Capital has acquired a 231-unit active adult community in the greater Philadelphia area. Canvas Valley Forge is considered to be a Class-A community in the town of King of Prussia, with 147 one-bedroom and 84 two-bedroom unit options. The amenity list features an infinity pool with sundeck, hot tub, outdoor courtyard with grills and seating areas, chef’s kitchen for private events, dog park with pet washing station, community garden, bocce court, bike storage and maintenance shop, garage and general storage, a fitness center, on-site salon and spa, craft room, game room, library/media room, resident lounge with club room, package room, and full-time resident concierge.... Read More »Active Adult Market: Will it be the major growth sector in seniors housing? Will it solve the middle market problem?
About the webinar: The active adult market has attracted attention from investors inside and out of traditional seniors housing. and rightly so given the sector’s performance during the pandemic, the demographic opportunity and the opportunity to establish a major presence in an emerging sector. But, because the market has not matured yet, property values and cap rates could still be up for debate, as well as active adult’s risk level when compared with multifamily investments. Also, as construction has slowed across seniors housing due to inflation, interest rates and increased risk, groundbreakings for active adult projects seem to be accelerating. Panelists:Ben Swett, Editor, The... Read More »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 »$200 million CCRC Development in the Works Near Cincinnati
Just outside of Cincinnati, in Fort Mitchell, Kentucky, plans have been initiated to build a 262-unit entrance fee CCRC. In charge of the development is Greenbrier Development, a Dallas-based seniors housing consulting group and developer. They are partnering with Brandicorp and St. Elizabeth Healthcare, which intend on investing between $20 million and $25 million into the development. The first phase of the development is expected to cost upwards of $200 million, or $760,000 per unit. This will be Greenbrier’s first ground-up development in the region. The structure of the community will comprise 196 independent living units, 18 assisted living units, 24 memory support units and 24... Read More »Helios Structures Partnership Buyout
Helios Healthcare Advisors has structured a partnership buyout of an Indiana-based assisted living and memory care provider. The company, which included Hendricks County Hospital as an owning partner, operated Golden LivingCenter – Woodbridge, a 67-unit assisted living/memory care community in Evansville, Indiana. Acquired by the partnership in 2012, the community underwent a complete renovation in 2015 and reopened as the first standalone memory care community in Evansville, before an expansion added traditional assisted living units as well.In 2019, Helios helped secure construction financing for that project. Post-expansion and renovation, Helios then worked to recapitalize the... Read More »Meridian Announces Slew of Senior Care Transactions
So far in 2022, Meridian Capital Group’s Senior Housing and Healthcare Team has closed $2.2 billion in transaction volume, following a record year in 2021 where they closed nearly $5.6 billion. The latest transactions were negotiated by Meridian’s Senior Housing and Healthcare Platform, led by Ari Adlerstein and Josh Simpson, along with Vice Presidents, Matt Lesnik, Jesse Rauch, and Rafi Sod, and Senior Associates, David Gottlieb, Jacob Scott, and Yuval Hananya, as well as Associate, Dylan O’Connor. Starting with the sales, the team sold two skilled nursing facilities in New York totaling 515 beds for $129.3 million, or $251,000 per bed, and arranged a $129.5 million loan, which... Read More »Schedule a demo
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