CBRE Originates Financing for Joint Venture
CBRE National Senior Housing arranged the financing for Clearwater at The Heights on behalf of a joint venture between Cerberus, Hines and Clearwater Living. Aron Will, Vice Chairman of CBRE National Senior Housing, and Tim Root, Senior Vice President of CBRE National Senior Housing, originated a three-year, floating-rate bridge loan with full term of interest only through a regional bank. Opened in 2022, the 220-unit community is in Houston, Texas, with independent living, assisted living and memory care services. Amenities feature a fitness center, art studio, library, custom golf simulator, movie theater, outdoor pool, spa and salon services, and downtown skyline views. The community is... Read More »
CCRC Development Secures Construction Financing
Capital Funding Group closed a $179.8 million construction loan on behalf of Erickson Senior Living. The financing will support the first phase of construction for Emerson Lakes, a CCRC currently under development in the Lakewood Ranch community in Sarasota County, Florida. CFG closed the financing on September 22, 2025. Developed and managed by Erickson Senior Living, phase one of this project will include one community building and three residential buildings with 319 independent living units. Once all project phases are completed, Emerson Lakes will be an 87-acre campus featuring 1,015 IL units and 130 continuum care units. This financing is the second construction loan CFG has executed... Read More »
Ziegler Prices Bonds for Repeat Client
Ziegler announced the pricing of $41.71 million Series 2025A bonds for repeat client Maryfield, Inc. doing business as Pennybyrn. Pennybyrn is a North Carolina not-for-profit corporation incorporated in 1947 by the Congregation of the Poor Servants of the Mother of God, an order of the Roman Catholic Church. Now sponsored by the Roman Catholic Diocese of Charlotte (NC), Pennybyrn owns and operates a CCRC on 72 acres in High Point, North Carolina. Pennybyrn currently operates 222 independent living units (173 apartments and 49 cottages), 48 assisted living units (24 standard care and 24 memory support) and 125 skilled nursing beds (24 rehabilitation and 101 long-term care). Proceeds of the... Read More »
Sellers Exit Seniors Space in Separate Transactions
Senior Living Investment Brokerage has had a busy start to the fourth quarter, announcing a slew of deals within the first few days. In one of the transactions, Toby Siefert, Ryan Saul and Patrick Burke were engaged in the sale of a portfolio of three assisted living and memory care communities with a combined 214 units and 230 beds in southern New Jersey. The three properties, built in 1998 and 1999, were well maintained and offered an attractive mix of AL and special needs units, which are typically comprised of MC. The portfolio was 64% occupied at the time of marketing, which took place during the summer of 2024. Multiple offers were procured, with the selected buyer intending to... Read More »
SLIB’s Slew of Closings
Senior Living Investment Brokerage shot out of the gates in the first few days of the fourth quarter, announcing more than a handful of deals. First, Vince Viverito, Jason Punzel and Jeff Binder facilitated the sale of two assisted living and memory care communities in Draper and Springville, Utah. The Draper community was built in 2018 with 108 units and the Springville community in 2016 with 81 units. They comprise 9.05 acres total with 106,147 square feet, along with adjacent parcels of land available for future development. These were the seller’s only seniors housing assets, as it was divesting to liquidate capital for other investments. The buyer is a REIT partnership with a... Read More »
NHI Invests in Oklahoma and Oregon
National Health Investors, Inc. invested $74.3 million, or $216,000 per unit, including transaction costs, for the acquisition of four properties with 344 units in Oklahoma and Oregon. The purchase price was partially funded by the cancellation of a $9.5 million mortgage loan with an 8.5% interest rate. The communities are expected to generate an initial yield of approximately 7.5% after routine capital expenditures. The properties and healthcare operations will be included in NHI’s SHOP segment and will continue to be managed by Compass Senior Living. This is a pre-existing relationship, with the REIT making its first investment with the operator last year. NHI has been looking for... Read More »
Class-A Community Trending Towards Stabilization Sells in Missouri
A Class-A assisted living/memory care community in O’Fallon, Missouri, sold thanks to Alex Florea, Kyle Hallion and Kevin Lukehart of Blueprint. Opened in 2018 with 134 units, The Landing of O’Fallon features two-bedroom, one-bedroom and studio options, with a number of units sharing Kory-and-Kyle bathroom configurations. It was purpose-built with a steel-frame construction, high-end finishes and resort-style amenities. The community sits in the affluent St. Charles County submarket of St. Louis, which has very strong demographic trends, but there were multiple competitors that either opened communities or will open them soon. But at the time of launch, the community had solid... Read More »
Joint Venture Grows Its Seniors Presence in Oklahoma
Stacked Stone Ventures, a real estate investment firm founded by Kent Eikanas, announced a new acquisition, adding a 147-bed CCRC in Oklahoma to its growing portfolio. Stacked Stone made the purchase with joint venture partner Praxis Capital and started a new relationship with the incoming operator, Sage Integrated Health. The campus operated around breakeven with occupancy in the mid-80s and a healthy Medicare census. It was previously owned by a not-for-profit organization, so we imagine there may be immediate upside from expense management. The joint venture bought the asset for $10.8 million, or $73,500 per bed. There are several other transactions in the works at Stacked Stone, so... Read More »
Texas and Colorado SNFs Trade in Separate Transactions
SVN Senior Living Advisors (SVN SLA) announced a couple of closings for skilled nursing facilities in Texas and Colorado. First, Josh Salzman led the way on the sale of a lender-owned facility in San Antonio. The large facility had more than 230 licensed beds and was non-stabilized at the time of sale. The national bridge lender had owned and controlled the facility after completing a foreclosure action. It retained SVN to conduct a confidential marketing process and target buyers with a high degree of closing certainty. A national owner/operator looking to increase its portfolio in Texas emerged as the buyer. Then, Mark Myers, in conjunction with his former team at SVN SLA, closed the... Read More »
Private Equity Firm Divests Orlando Property
Berkadia announced the sale of Somerby Lake Nona, an 80-unit assisted living and memory care community in the Lake Nona neighborhood of Orlando, Florida. Managing Directors Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia Seniors Housing & Healthcare closed the sale transaction on behalf of a private equity firm. Going forward, the property will be managed by Atlas Senior Living under a new name, The Goldton at Lake Nona. At closing, the community was nearly 85% occupied. Built in 2015, the property offers private apartments with full baths, a resort-style swimming pool, restaurant-style dining, a café, and landscaped outdoor spaces. Read More »Schedule a demo
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