• Active Adult Community Secures Freddie Mac Refinance

    An active adult community in Hurst, Texas, paid off its existing bank debt with a Freddie Mac refinance arranged by Berkadia. Heritage Village Residences was built in 2014 with 120 units, including 10 cottages. It was part of multiple acquisitions over the years, first in 2020 when Edison Equity Management Corporation bought it for $23.3 million... Read More »
  • Upstate NY Seniors Housing Community Trades

    Kory Buzin and Steve Thomes of Blueprint facilitated the sale of a seniors housing community in upstate New York that stakeholders were divesting to take advantage of positive performance trends and a strong M&A market. The Legacy at Cranberry Landing, a 95-unit independent living, assisted living and memory care community in Rochester, was... Read More »
  • Seniors Housing Investment Vehicle Acquires First Asset

    Focus Healthcare Partners acquired Bellingham at West Chester, a 274-unit seniors housing community in West Chester, Pennsylvania. The investment is Focus’ first for its newest investment vehicle, Focus Senior Housing Fund III. The property sits on an 11.8-acre site 20 miles west of downtown Philadelphia. It comprises 208 independent living, 50... Read More »
  • Management Transfer Includes Purchase Option

    A senior care campus in Waterloo, Illinois, secured a new operator thanks to Ray Giannini of Marcus & Millichap. Featuring 144 skilled nursing beds and 50 independent living units, Oak Hill – Senior Living and Rehabilitation Center was well occupied with a strong quality mix. It was owned by Monroe County, which wanted to retain the... Read More »
  • Bank Provides Refinance to Family Office

    BHI, the U.S. branch of Bank Hapoalim, provided a $29.0 million loan for the refinancing of an assisted living and skilled nursing facility in West Palm Beach, Florida. Gold Standard of Care Group, a Florida-based family office with a focus on healthcare and senior care and over $150 million in assets, was the borrower.  Totaling 70,272... 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 »