• Grace Management Adds Five Ventas Communities

    Grace Management expanded its relationship with Ventas, adding five seniors housing communities owned by the REIT to its operating portfolio. The communities were previously managed under a triple-net lease structure. They include Brookdale Lake Shore Drive in Chicago, Illinois, Brookdale Northbrook in Northbrook, Illinois, Brookdale Springs Mesa... Read More »
  • Seller Boosts Census Ahead of Sale to JV

    Senwell Senior Investment Advisors sold Rose Hill Retirement Community, a 66-unit, 87-bed assisted living community in Marion, North Carolina. Originally built as a hospital, Rose Hill has been transformed by the seller over the past two decades into a senior care community. After a previous attempt to sell the community was unsuccessful,... Read More »
  • Joint Venture Buys Orange County Community

    A high-end seniors housing community in Orange County sold with the help of CBRE National Senior Housing. Aron Will and John Sweeny represented the joint venture seller in the deal, while Will and Matthew Kuronen arranged acquisition financing from a national bank. The loan came with a four-year term, a full term of interest only and a floating... Read More »
  • Developer Secures Construction Financing

    JLL Capital Markets arranged a $47 million construction financing for The Arbella at Blue Hills, a 164-unit, active adult community to be developed in Bloomfield, Connecticut. JLL worked on behalf of the developer, The United Group of Companies, Inc. (United Group) to secure the construction loan through Liberty Bank of Middletown, Connecticut.... Read More »
  • Midwest-Based Operator Refinances AL/MC Communities

    MONTICELLOAM, LLC, along with firm affiliates, provided a $28.5 million senior bridge financing for two Midwest seniors housing communities. The financing was originated by Karina Davydov, Senior Managing Director, Originations. The sponsor, a Midwest-based operator with a portfolio of over 40 seniors housing and healthcare properties and a... Read More »
The Brookdale CCRC Selling Spree Continues

The Brookdale CCRC Selling Spree Continues

Brookdale Senior Living keeps shedding its CCRC holdings. Just a month after the provider agreed to sell its 51% interest in 13 CCRCs owned jointly with HCP, Inc. (now HealthPeak Properties) for $541 million, or $84,800 per unit, Brookdale is selling three more to a joint venture between Frontline Management and Onelife Investments. Mike Garbers of JLL Capital Markets represented Brookdale in the transaction. Previously owned by Emeritus, the properties total 592 units. The Easley, South Carolina community was built in 1984 and consists of 75 independent living, 86 assisted living and 60 skilled nursing units. Built in 1966, the Phoenix, Arizona property has 119 IL, 28 AL, 16 memory care... Read More »
Walker & Dunlop’s All-Agency Transaction Trifecta

Walker & Dunlop’s All-Agency Transaction Trifecta

The Walker & Dunlop team of Kevin Giusti, Michael Davis and Jeff Ringwald ran the agency gamut this month, closing one Freddie Mac, one Fannie Mae and one HUD loan, all totaling $42.6 million. W&D started with a $13.5 million refinance closed through Freddie Mac for a brand-new, 52-unit memory care community in Springfield, Oregon. The borrower, Onelife Investments was able to recapitalize 100% of its equity and obtained a 15-year loan with a fixed rate. Next, another recently-built senior living community refinanced with Fannie Mae, thanks to the Walker & Dunlop team. Operated by Avista Senior Living, the 108-unit assisted living community opened in 2017 within a larger active... Read More »