Inland Private Capital Corporation Makes First Seniors Housing Acquisition

Inland Private Capital Corporation Makes First Seniors Housing Acquisition

by | Nov 8, 2019 10:01 am | Acquisitions

As part of its larger disposition/restructuring strategy, Capital Senior Living Corporation announced in its third quarter earnings report that it sold two non-core independent living communities in Peoria, Illinois and Springfield, Missouri, generating some healthy proceeds in the process. The communities sold for a combined $64.75 million, or nearly $205,000 per unit, resulting in $14.8 million of net cash proceeds and $44.4 million of mortgage debt off its books. Tim Cobb and Sabel Kaminski of Berkadia represented CSL in the transaction. Both built in the late-1990s and totaling around 215 units, these communities were both over 90% occupied, but rent growth was sluggish. They were in... Read More »
Spectrum Retirement Communities Gets New Investment Partner

Spectrum Retirement Communities Gets New Investment Partner

by | Sep 27, 2019 8:34 am | Acquisitions

We heard many at the NIC Conference earlier this month talking about the abundance of capital and new capital providers in the senior living market. Some were optimistic, while others were lamenting it. Well, another alternative investment management firm has entered the senior living market. Oak Brook, Illinois-based Inland Private Capital Corporation (IPC) announced it has entered into a strategic relationship with Spectrum Retirement Communities, LLC to acquire, own and manage senior living communities across the country. Phil Shapiro Senior Living, LLC serves as IPC’s senior living advisor and was key in initiating and cultivating the relationship between them and Spectrum. IPC, which... Read More »