The Phoenix, Arizona market has been a hotbed of senior living construction activity thanks to its rapidly growing retiree population, and a large CCRC catering to high-income residents is looking to capture part of that growth with an independent living expansion. Sagewood already has 316 independent living units, 44 assisted living units, 28 memory care […]
No stranger to big senior living projects, Big Rock Partners (BRP) announced it will be building its second senior living community in Palm Beach County, Florida, at an estimated cost of $150 million, or over $530,000 per unit. BRP kicked it off with the $9 million acquisition of a 15-acre site in Delray Beach, where […]
As joint venture partners TH Real Estate (an affiliate of Nuveen, the investment management arm of TIAA) and LCS continue their acquisition activity, BMO Harris Bank’s Healthcare Real Estate Finance group got in on the action and arranged acquisition financing for two of the deals. First, the firm acted as sole lender for a $14.4 […]
Bridge loans are the hottest lending product for seniors housing and care right now (we’re actually hosting a webinar on that very subject next month), and CBRE Capital Markets is expanding its presence in that market with a large new vehicle aimed at providing more flexible short-term loans to seniors housing and multifamily borrowers. The […]
CBRE’s Aron Will has been on a roll lately, having just closed his fifth transaction in under a month. The latest helped fund the acquisition of four seniors housing communities in the Louisville, Kentucky and Indianapolis, Indiana MSAs. They actually represent the stabilized properties within a seven-property portfolio acquisition (totaling 688 units) that CBRE also […]
Shunning any summer doldrums, BMO Harris Bank’s Healthcare Real Estate Finance group announced two loan closings in the last week, on the back of a $200 million facility it closed on behalf of Kayne Anderson Real Estate Advisors and Watermark Retirement Communities earlier this month. First, in Hugo, Minnesota, the group acted as sole lender […]
LCS is selling its 232-unit senior living community in Hoover, Alabama, almost exactly three years after acquiring it in a joint venture with Walton Street Capital. LCS still left its mark at the community, converting 24 assisted living units to memory care in 2015. Built in 2009, the community currently features 160 independent living, 48 […]
Ziegler is helping a not-for-profit CCRC that has been operating for about 25 years in Waterford, Michigan (about 40 miles from Detroit) both refund existing debt and fund an extensive repositioning project. Already with 255 rental units, including 75 independent living units, 40 assisted living units and 140 skilled nursing beds, the community is owned […]
Nearly a decade on from the housing market collapse in 2007 and despite a relatively strong comeback in the sector, we are still writing about CCRCs just recovering from a drastic drop in entrance fee receipts in the throes of the Great Recession. That being said, three years after filing for Chapter 11 bankruptcy protection, […]
The joint venture owner of a 283-unit entrance fee CCRC in Brentwood, Tennessee recently reshuffled its ownership, with a minority stakeholder acquiring the 70% share from partner and co-developer, Westminster Capital. Back in 2007, Westminster, Harpeth Green Properties (the current buyer) and LCS developed the community on nearly 50 acres. It featured 217 independent living […]