LCB Senior Living Brings Its Luxury Brand to Fairfield County
LCB Senior Living has already established itself as a luxury provider of assisted living/memory care services in New England, with 11 communities in Massachusetts, three in Vermont, two each in Connecticut and New Hampshire, and one in Rhode Island. The developer also has two construction projects in Massachusetts and one in New Hampshire. But now, LCB is taking its luxury brand to the high-income and high-cost Fairfield County for the first time, with two developments in Stamford and Darien, Connecticut (both about 45 miles from New York City). In June 2016, LCB purchased a one-acre parcel near downtown Stamford and is currently building a seven-story, 104-unit assisted living/memory care... Read More »BMO closes over $80 million
Two active investors in the seniors housing M&A market worked with BMO Harris Bank’s Commercial Real Estate Healthcare group to close acquisition financing for two of their latest purchases. First up, Kayne Anderson received $34.6 million in financing to acquire and expand a 135-unit senior living community in Melbourne, Florida. The property was built in 2012 to feature 47 independent living, 54 assisted living and 34 memory care units. It was 97% occupied, and sold for $45.5 million, or $337,037 per unit. And second, BMO closed over $40 million of acquisition financing for ROC Seniors Housing Fund Manager to acquire two just-built assisted living/memory care communities in New York.... Read More »Walker and Dunlop back at it
Not resting on its laurels following the recent $1.27 billion Freddie Mac financing it closed, Walker & Dunlop announced another financing, this time structuring a $68.2 million construction loan for a 318-unit senior living community to be built in Palm Beach County, Florida. The loan featured a floating rate of about 300 basis points over LIBOR and covered about 70% of the over-$100 million (about $314,500 per unit) development. Ventas will provide equity capital and will be the principal owner of the community in partnership with the developer, Big Rock Partners. Designed by Gensler and to be constructed by Moss & Associates, the 425,000-square foot community will feature 186... Read More »Big Rock, Big Project
Big Rock Partners is at it again. Already developing a $75 million senior living project in Celebration, Florida and a $25 million project in Port Royal, South Carolina, the real estate investment management firm is set to begin construction of Atria at Villages of Windsor, a 318-unit senior living community in southern Palm Beach County. The 22.5-acre site, which Big Rock purchased for $10 million, happens to be the largest, and one of the last, entitled senior housing parcels in the county, where existing senior living communities were built on average 21 years ago. Designed by Gensler and to be constructed by Moss & Associates, the 425,000-square foot community will feature 186... Read More »Schedule a demo
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