HealthPeak Sells 10 Aegis Living Communities
HealthPeak Properties continues its exit from the seniors housing business, both its sale/leaseback portfolio as well as its RIDEA assets. In a large transaction, HealthPeak has sold 10 assisted living and memory care communities to its tenant, Aegis Living, which partnered with Blue Moon Capital Partners in the deal. The purchase price for the real estate (to HealthPeak) was $350 million, but the total price for the entire transaction was closer to $440 million, or about $626,700 per unit. Not too bad during a pandemic. The 10 properties are located in California (6), Washington (3) and Nevada (1). Average occupancy in the third quarter... Read More »
Greystone Arranges Two Agency Financings
Fred Levine of Greystone arranged a HUD refinance for a skilled nursing facility in Cortlandt, New York. Built in 1984 and featuring 127 beds in 96 units, the facility offers both short- and long-term rehabilitation, along with physician services and complex medical care. Offered therapies include occupational, physical, cardiac, speech, post-surgical orthopedic care, stroke recovery, hip repair/joint replacement recovery, amputee recovery and training, off-site dialysis, bariatric rehabilitation, wound care, and IV antibiotic therapy. The $22.217 million loan came with a low, fixed interest rate and a 35-year term. Matt Miller of Greystone followed that up... Read More »
Lancaster Pollard Charges Into Chambersburg
Lancaster Pollard, a division of ORIX Real Estate Capital, recently refinanced a senior living community in Chambersburg, Pennsylvania. Providence Place Senior Living, a family-owned operator that is headquartered in Hershey, Pennsylvania, owns the 17-acre campus, which features a mix of independent living, assisted living and memory care units. Monthly rates start at $3,082 for independent living, $4,122 for assisted living and $4,411 for memory care. It is located three miles from the Chambersburg Hospital. Miles Kingston, Doug Harper and Casey Moore of Lancaster Pollard secured an $11.5 million loan through its Fannie Mae Seniors Housing program. The loan came with a long term and... Read More »
Lancaster Pollard Closes Hawaii SNF Refinance
Lancaster Pollard Mortgage Company followed up its HUD refinance of an assisted living/memory care community in Minnesota for a deal in a much more hospitable year-round climate. Doug Harper and Casey Moore of Lancaster Pollard headed to Honolulu, Hawaii (lucky guys) to arrange permanent financing for a senior living community located on the slopes of Punchbowl Crater, an extinct volcanic cone in downtown Honolulu. Owned by MW Group, Ltd., the community was built in 2003 and renovated in 2017. It currently consists of 68 independent living, 20 assisted living and 20 memory care units, and is one of six seniors housing and care properties in Hawaii operated by The Plaza Assisted... Read More »Schedule a demo
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