Only three years after buying a senior living community in Park Ridge, Illinois (Chicago MSA), Capitol Seniors Housing (CSH) is selling at a premium. Originally built as a hotel in 1962 but converted to senior living in 1986, this property includes 154 units of independent living, assisted living and memory care. CSH had purchased it […]
Charlie Shoop of KeyBank Real Estate Capital has been hard at work arranging two financings from two different agencies. First, through Freddie Mac, Mr. Shoop originated a $26 million loan to facilitate the acquisition of a 175-unit independent living community in Dallas, Texas. The floating-rate loan came with a seven-year term, four-year interest only period […]
Kentucky’s largest not-for-profit senior living and long-term care provider, Christian Care Communities, worked with Ben Firestone and Michael Segal of Blueprint Healthcare Real Estate Advisors to sell its 92-bed skilled nursing facility in Louisville. Ideally located near multiple hospitals and other referral sources, the facility was originally built in 1962, but was recently renovated in […]
It’s full steam ahead for Capitol Seniors Housing’s construction strategy. The Washington, D.C.-based private equity firm just opened one assisted living community in Naperville, Illinois (Chicago MSA), but has nine more projects coming down the pike, all totaling nearly $300 million. The 95-unit Naperville community cost approximately $27 million to develop, or $284,200 per unit, […]
Switching around lending partners, a joint venture between Bourne Financial Group and Cascadia Senior Living recapitalized and refinanced their 138-unit assisted living/memory care property in Kennewick, Washington, with the help of CBRE’s Aron Will. The memory care portion was completed in 2015, with the assisted living finished in 2016, and since then, both acuities have […]
Capitol Seniors Housing has made it clear that it sees a great opportunity in the 55+ active adult space, but assisted living still has a place in its investment strategy, of course. The private equity firm just broke ground on a brand-new 86-unit assisted living/memory care community in Fulton, Maryland (about halfway between Washington, D.C. […]
Three and a half years after purchasing a 97-unit assisted living/memory care community in Silicon Valley (in the town of Fremont, to be more specific), Capitol Seniors Housing is exiting the asset, making a tidy return we imagine, thanks to Rick Swartz, Jay Wagner, Aaron Rosenzweig and Alex Petrosian of Cushman & Wakefield, who represented […]
Capitol Seniors Housing’s development pipeline is growing fast, as luxury senior living communities continue to go up and down the Acela Corridor, and Chicagoland too. The firm has announced its two latest projects in Andover, Massachusetts and Glenview, Illinois, both scheduled to open in the fourth quarter of 2018. The Andover community will feature 96 […]
Washington, D.C.-based Capitol Seniors Housing headed up the coast to build a brand-new assisted living/memory care community in Shrewsbury, New Jersey, an affluent suburb of New York City. The firm utilized an existing operating partner, Chelsea Senior Living, which already operates 10 senior living communities in the Mid-Atlantic on behalf of CSH, to third-party manage […]
Capitol Seniors Housing (CSH) is expanding its assets in Texas through a new operating relationship with Civitas Senior Living, which has lately been known for its development activity in the Dallas-Fort Worth and Austin markets. While we have not been alone in voicing concerns about overbuilding in these markets, the target property for CSH (developed […]