• 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 »
NorthMarq Capital Finances Washington Seniors Housing Community’s Past and Future

NorthMarq Capital Finances Washington Seniors Housing Community’s Past and Future

by | Jan 26, 2018 7:02 am | Acquisitions, Financings

NorthMarq Capital continued its long-standing relationship with a 130-unit seniors housing community in Lynnwood, Washington, arranging Freddie Mac financing for the new owner. The community was developed by a joint venture between Living Care Lifestyles (the operator) and Morningside Development Group in late 2013 thanks to a $17.19 million four-year construction loan arranged by Stuart Oswald of NorthMarq. It included 85 independent/assisted living and 45 memory care units in a three-story building in the affluent Seattle suburb of Lynnwood. Lease-up went quickly, and in the middle of that process, ownership obtained a cash-out refinance totaling $32.5 million with a three-year term and... Read More »
It takes a village

It takes a village

by | Apr 29, 2016 8:31 am | Developments, Financings

A number of hands are in the pot in an assisted living development that just broke ground outside of Tampa, Florida. The 80-unit community is being developed by Enriched Community Development, LLC, in partnership with North Carolina-based Retirement Living Associates, Inc., which will serve as the community’s manager. Plus, an investment group headed by Robert Gries Jr., the founder and managing director of Gries Investment Funds, is an equity partner in the project. The community will feature 58 assisted living and 22 memory care units, and is expected to open in Spring 2017. Enriched Community Development, through its affiliate Lithia Assisted Living, turned to Robert Hernandez of... Read More »

MOB to Senior Living?

by | Apr 15, 2015 7:52 pm | Developments

Monarch Senior Living is trying something new in seniors housing development. The company acquired a vacant 17,800 square-foot medical office building (MOB) in La Jolla, California for $7.115 million, which it plans to convert into a 26-unit/44-bed memory care community. Monarch will own the community with Menlo Park, California-based real estate equity sponsor HG Capital, and will also manage it upon completion. To fund both the purchase and the repurposing of the building, Aaron Beck of NorthMarq Capital arranged a five-year $9.96 million first mortgage loan for Monarch. The financing featured interest-only payments, a floating rate and minimal recourse so as to give the joint venture... Read More »