• National Lending Group Divests in Wisconsin

    by | Apr 25, 2024 3:31 pm | Acquisitions

    Justin Knapp, Nick Stahler and Ray Giannini of Marcus & Millichap recently closed the receivership sale of an 86-bed skilled nursing facility in Wisconsin. The Knapp-Stahler Group represented the seller, a national lending group that also provided financing for the deal.  The borrower/buyer was a local operator with ties to an East... Read More »

  • CFG Secures Bridge-to-HUD Loan for Ohio Skilled Nursing Facility

    by | Apr 25, 2024 3:30 pm | Financings

    Capital Funding Group secured financing for a skilled nursing facility in Ohio on behalf of a nationally recognized borrower. The bridge-to-HUD loan totals $13.5 million and supports the refinancing of this 120-bed SNF. Tim Eberhardt and Ava Julio of CFG originated the transaction.  This financing follows CFG’s closing of two HUD loans on... Read More »

  • CBRE Secures Financing For Class-A Seniors Housing Community

    by | Apr 25, 2024 3:29 pm | Financings

    CBRE secured financing for a Class-A seniors housing community in North Dakota on behalf of a joint venture borrower. Built in 2017, New Perspective West Fargo is in Fargo, one mile from Sanford Medical Center, North Dakota’s newest and largest medical center. The community features 128 independent living, assisted living and memory care units... Read More »

  • PCP Purchases Ohio Assisted Living Community

    by | Apr 25, 2024 3:27 pm | Acquisitions

    Phorcys Capital Partners LLC, the investment advisor to Phorcys Senior Housing Recovery Fund LP (SHRF), announced it acquired a seniors housing community in Wickliffe, Ohio, through a trustee-directed short sale for $13.0 million, or $81,000 per unit. This is PCP’s second investment in SHRF, and it will continue to focus on the winding down of... Read More »

  • Newmark Closes Class-A Deal in Denver

    by | Apr 24, 2024 8:44 am | Acquisitions

    A new seniors housing community traded in the Denver, Colorado MSA, with the help of the team at Newmark. Developed in 2017, MorningStar at RidgeGate is located in the suburb of Lone Tree within the Ridgegate master plan that features retail, cultural amenities and a 284-bed hospital nearby. The property comprises five stories over subterranean... Read More »

Aron Will and Avanti Senior Living

by | May 5, 2017 7:00 am | Developments, Financings

Plans for an Avanti Senior Living community in Covington, Louisiana (New Orleans MSA) have been in the works for several years. Now, it is one step closer, with Aron Will of CBRE arranging a $14 million construction loan to fund the project. A regional bank provided the financing, which features a four year, floating rate term and 48 months of interest only. Avanti is developing the project in a joint venture with Iron Point Partners, an investment manager that manages several real estate private equity funds. Designed with the local style in mind, the planned community will resemble a large manor house, featuring 60 assisted living units and 50 memory care units. Adding to its appeal, the... Read More »

RED funds Avanti’s growth

by | Jun 26, 2015 8:29 am | Developments, Financings

Avanti Senior Living, which is developing five senior living communities in the Southeast (three in Texas and two in Louisiana) turned to RED Capital Partners to help fuel its construction pipeline, receiving a second $13.8 million balance sheet construction loan to build a 90-unit assisted living/memory care community in Flower Mound, Texas. The community will feature 50 units of assisted living and 40 units devoted to memory care, and represents Avanti’s third project to break ground under its joint venture with an affiliate of real estate fund manager, Iron Point Partners. Last December, RED also arranged a $13.5 million balance sheet construction loan for Avanti to construct a 90-unit... Read More »

Berkadia secures $93 million in financing

by | Jun 12, 2015 8:57 am | Financings

We wrote last month of ROC Seniors Housing Fund Manager’s purchase of 14 senior living properties with 1,038 units from a joint venture between Iron Point Partners and Meridian Senior Living for an undisclosed price. The portfolio was mostly assisted living (719 units), with 208 memory care units and 111 independent living units as well. To fund the acquisition, ROC turned to Berkadia to arrange an $84 million, three-year floating-rate loan through BBVA Compass Bank. Berkadia also contributed $20 million of the overall financing through its Proprietary Bridge Lending Platform. In addition, earlier this year ROC purchased a 76-unit assisted living and memory care community in Canton, Ohio,... Read More »

ROC’s busy 2015

by | May 13, 2015 11:27 am | Acquisitions

It’s been a busy 2015 for ROC Seniors Housing Fund Manager, which is part of Salt Lake City-based Bridge Investment Group Advisors. So far this year, ROC has acquired 21 senior living communities in nine different states, totaling 2,247 units, coming on the heels of a 14-property, $230 million-deal announced in September 2014. Not all of the 2015 transactions had revealed prices, but the price per units ranged from $77,700 per unit for a 345-unit senior living community in Glendale, Arizona, up to $246,700 per unit for a portfolio of 4 assisted living communities in Texas. The most recent transaction, announced last week, was the purchase of 14 senior living properties (with 1,038 units of... Read More »