More than a year after opening a 167-unit senior living community in Lexington, Kentucky, Atlas Senior Living executed on a purchase option for the property thanks to a $35 million floating-rate loan provided by MidCap Financial. David Sharp, working out of MidCap’s Chicago office, arranged the short-term loan and expects to take it to agency […]
Last month we wrote of the sale of a Chattanooga, Tennessee independent living community to a joint venture between Atlas Senior Living and Veritas Senior Living. Now, we can report that Richard Lynn of Marcus & Millichap represented both the buyer and the seller in the transaction, with an assist from Joseph McKibben, who was […]
When faced with the option of expanding its 45-unit assisted living community in Trussville, Alabama (Birmingham MSA), or exiting the industry altogether, a local owner/operator chose the latter, at a price of $4.5 million, or $100,000 per unit, with a 7.4% cap rate. Indeed, the owner had already completed initial planning for a Phase II […]