• Chicagoland Portfolio Finds New Owner

    A value-add senior care portfolio in Chicagoland traded with the help of Blueprint’s Ryan Kelly, Connor Doherty, Alex Florea, Lauren Nagle and Brooks Blackmon. The team worked on behalf of a national developer/investor, which had engaged Blueprint to create an exit strategy for more than a dozen geographically disparate, older-vintage communities... Read More »
  • Publicly Traded REIT Divests in Illinois

    Berkadia was engaged in the divestment of an assisted living and memory care community in Barrington, Illinois. The Berkadia Seniors Housing Team, led by Mike Garbers, Cody Tremper, Dave Fasano and Ross Sanders, closed the transaction on behalf of a publicly traded REIT. The buyer was a regional owner/operator. But no other details were... Read More »
  • CFG Secures $13.55 Million in HUD Loans

    Capital Funding Group closed two HUD loans totaling $13.55 million to support the refinancing of two skilled nursing facilities. Both facilities are in Illinois, and together they comprise 173 beds. No other details surrounding the financing were disclosed. This announcement follows CFG’s closing of $16.25 million in bridge-to-HUD financing on... Read More »
  • CBRE Secures Bridge Financing For Two Communities

    CBRE secured bridge financing for two seniors housing communities in western Pennsylvania. Aron Will and Tim Root arranged a non-recourse loan with a sub-300 spread through a regional bank. The borrower was CPF Living Communities.  Built in 2017, The Residence at Bethel Park is in Bethel Park with 130 independent living units. The Residence at... Read More »
  • G Capital Markets Closes Cash-Out Recap

    G Capital Markets, a capital advisory firm based in Carmel, California, recently closed on the recapitalization of a 29-unit/59-bed assisted living community in Livermore, California. Built in 2021 by a regional owner/operator, the property leased up in 2022 and has shown consistent strong performance since then, with cash flow margins well over... Read More »
SunTrust Sets Eyes On Colorado Bridge Financing

SunTrust Sets Eyes On Colorado Bridge Financing

SunTrust Bank’s ears must have been burning, because on the day of our webinar, Bridge Loans: The Hottest Lending Product for Seniors Housing and Care (which you can still listen to here), the bank originated a $31 million bridge loan for an independent living community in Colorado Springs, Colorado. Just completed earlier this year, the community is geared to higher income residents and boasts a number of modern amenities. It was developed by The Wolff Company, an Arizona-based private equity firm that is developing a number of luxury senior living properties a year with operating partner Clearwater Living (which will also manage the Colorado Springs community).  Artin Anvar of SunTrust... Read More »
HFF Funds Independent Living Acquisition

HFF Funds Independent Living Acquisition

Less than a year after opening its luxury independent living community in Colorado Springs, Colorado, The Wolff Company turned to Nicole Brickhouse and Leon McBroom of HFF to refinance its existing construction debt with a $31 million floating-rate bridge loan. This 160-unit community, operated by Clearwater Living, is part of Wolff’s major investment in the industry, which reportedly will top $300 million annually to develop new high-end communities mainly in the western United States. Read More »
Clearwater Living Makes First Purchase

Clearwater Living Makes First Purchase

A Southern California independent living community that recently changed hands is in for a smooth transition, as its in-place operator stepped in as its buyer. Located in Oxnard (about 75 miles up the coast from Los Angeles), the 136-unit community was originally developed in 2017 by The Wolff Company and operated by Clearwater Living, a regional operator of nine other communities in the West. As part of the development agreement, Clearwater was expected to take over ownership of the property, which will be the first that it owns outright. The community just opened earlier in 2018 and is currently filling up, but its location should help that fill some units, as it is adjacent to a... Read More »
Clearwater Living Develops In Familiar Territory

Clearwater Living Develops In Familiar Territory

Cushman & Wakefield Capital Markets Group arranged $20.6 million in construction financing on behalf of Clearwater Living to build a 90-unit/104-bed assisted living/memory care community in Rohnert Park, California. PNC Bank provided the financing, which was arranged by C&W’s Richard Swartz, Aaron Rosenzweig, Timothy Hosmer and Alex Petrosian. The new community will feature amenities including a community pub, display kitchen, outdoor dining, theater and dog park, and is located next to a 207-unit 55+ community that was developed by Clearwater Living’s CEO, Tony Ferraro, back in the early 2000s. Clearwater clearly knew the area well. Read More »
The Wolff Company Invests In Independent Living

The Wolff Company Invests In Independent Living

At a time when most attention in the seniors housing development market has been directed at assisted living and memory care, The Wolff Company is betting big on independent living, with a pipeline of 20 properties planned to open in the next few years throughout the western United States. Since its founding in 1949, the company has mostly focused on the multifamily space, but to build up its seniors housing team, in March 2014 Wolff brought on Mike Milhaupt, who has over 20 years of experience developing senior living properties at First Centrum. Since welcoming Mr. Milhaupt, Wolff has broken ground on 11 IL developments throughout the West and has also purchased three senior apartment... Read More »