Grandbridge Arranges Two Seniors Housing Sales
Not long after making the move from Cushman & Wakefield to Grandbridge Real Estate Capital, the Tampa-based team of Allen McMurtry, Dave Kliewer and Jay Jordan announced a couple of seniors housing sales. First, they were tapped by the owner of an independent living/assisted living community near Springfield, Massachusetts to run a bankruptcy sale process. Built in the 1990s with 187 units of independent living and assisted living, including 129 cottages, the community was around 65% occupied. With a stalking horse bid of $9.0 million, the virtual live auction in late September 2020 resulted in more than 100 rounds of live bidding, with a final sale... Read More »
Grandbridge Gains Investment Sales Team
Grandbridge Real Estate Capital is making a big jump into seniors housing investment sales with the addition of three veterans highly experienced in the space. Cushman & Wakefield’s Tampa, Florida team, led by Allen McMurtry, David Kliewer and Jay Jordan, made the move to Grandbridge’s Seniors Housing and Healthcare Finance Group, which is headed by Richard Thomas in Atlanta, Georgia. They will bring experience representing sellers of seniors housing communities across the country, spanning over 190 properties in 35 states. Recently, the former C&W team arranged the $105 million sale of The Clare in downtown Chicago in December 2019, cementing its status... Read More »
Grandbridge Finances Florida Assisted Living Sale
Earlier this year, we learned of the sale of an 89-unit assisted living/memory care community in Pensacola, Florida. Now, it has been revealed that Grandbridge Real Estate Capital’s Seniors Housing and Healthcare Finance Group arranged the acquisition financing for the deal. Previously owned by CNL Healthcare Properties II, the property was sold alongside a 92-unit AL/MC community in Tampa to Waypoint Residential for a combined $48.85 million, or about $270,000 per unit, at a roughly 5.5% cap rate. These were the last two properties owned by CNL II, whose shareholders had approved the company’s plan for dissolution in September 2019. Both communities were... Read More »
Grandbridge Goes Green, Again
Utilizing Fannie Mae’s Green Rewards financing product, Richard Thomas and Meredith Davis of Grandbridge Seniors Housing and Healthcare Finance Group arranged a $25.5 million acquisition loan to fund the purchase of a 93-unit assisted living/memory care community in Alpharetta, Georgia. Focus Healthcare Partners’ dedicated senior housing fund was the borrower and will retain The Arbor Company as the community’s operator. This type of transaction seems to have become a recent specialty of Grandbridge’s, as the firm so far in 2018 has closed nearly $300 million in financings through Fannie Mae’s Green Rewards program, across 13 properties, which is the most among Fannie Mae DUS lenders... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
