• Standalone Memory Care Community Sells in San Antonio

    by | Feb 10, 2026 3:19 pm | Acquisitions

    Soon after selling a standalone memory care community in Katy, Texas, Blueprint sold another one in San Antonio, Texas, that was built in 2013. The Landing at Stone Oak was originally marketed in late 2023, but the process came to a halt when ownership chose to continue improving operations rather than transact. The operational turnaround was not... Read More »

  • Investor Acquires Full AL/MC Community

    by | Feb 10, 2026 3:18 pm | Acquisitions

    A local private investment group divested its stabilized seniors housing community, Village at Oakwood Assisted Living. Originally built in 2010 with use of multiple layers of tax credits, the building comprises 90 assisted living and memory care units. The high-quality physical plant sits in Oklahoma City, Oklahoma, and was 100% occupied at the... Read More »

  • Joint Venture Expands Its Portfolio

    by | Feb 10, 2026 3:16 pm | Acquisitions

    Foundry Commercial and Fortress Investment Group acquired two seniors housing communities in Central Florida with a combined 180 assisted living and 72 memory care units (a total of 260 beds). This is the joint venture’s second transaction, marking the third and fourth communities added to the joint portfolio. The undisclosed seller was... Read More »

  • California SNF Gets New Operator

    by | Feb 10, 2026 3:14 pm | Acquisitions

    Evans Senior Investments helped the owner of a 120-bed skilled nursing facility find a new operator. The new management company, which has a strong regional footprint, will pay $3.75 million in annual rent to the investor owner, Don Gormly. Built in 2016, the 120-bed facility is Anberry Transitional Care in Merced, California. Its occupancy was... Read More »

  • CCRC Secures Funding for Expansion

    by | Feb 10, 2026 3:13 pm | Developments, Financings

    Ziegler announced the closing of Friendship Village of Kalamazoo’s $103.585 million Series 2026A, B-1, B-2, and B-3 bonds issued through the Economic Development Corporation of the City of Kalamazoo. Lifecare, Inc., doing business as Friendship Village Kalamazoo, is on approximately 72 acres within Kalamazoo, Michigan. The 364-unit CCRC comprises... Read More »
PGIM Refinances Senior Care Facility Debt in Ohio

PGIM Refinances Senior Care Facility Debt in Ohio

by | Jul 23, 2021 2:50 pm | Financings

The owner of a 108-unit senior care facility in Brook Park, Ohio, refinanced its HUD debt with the help of PGIM’s Seniors Housing and Healthcare Group, lowering its annual debt service costs by more than $65,000. David Strachan and Troy Buckley originated a $5.5 million loan, which came with a new rate of 2.78%, which is well below the previous rate of 4.2% (hence that notable debt service savings). Plus, the term returned to 30 years, and the borrower, North Park Properties LLC, also increased the funding to their reserve for replacement account.  Built in 1967 with additions in 1994 and 2010, the community was over 90% occupied. It has 30 skilled nursing beds and 78 assisted living beds... Read More »
PGIM Arranges Two HUD Refinances

PGIM Arranges Two HUD Refinances

by | Jun 6, 2021 8:29 pm | Financings

PGIM’s Seniors Housing and Healthcare Group arranged refinances for two seniors housing communities in the Southeast, the third and fourth properties refinanced for the same client during the pandemic. Christopher Fenton, Catherine Eby, Adrian Hartman, and Robyn Cunningham originated the loans.  The first, totaling $7.93 million, went to a 112-bed skilled nursing facility in Bastrop, Louisiana. Rather than a loan modification, Mr. Hartman and Ms. Cunningham secured a loan to maximize annual cash flow through term extension and a rate savings of 0.8% when considering the lowered MIP.  In the other deal, Mr. Fenton and Mrs. Eby provided a $15.94 million loan for a... Read More »
PGIM Refinances Virginia Seniors Housing Community

PGIM Refinances Virginia Seniors Housing Community

by | Mar 1, 2021 9:34 am | Financings

PGIM Real Estate’s Seniors Housing and Healthcare Group refinanced a 57-unit seniors housing community in Lynchburg, Virginia with a new HUD loan, providing the owner with substantial annual loan payment savings. That makes for a happy client. Family-owned and operated Runk & Pratt was the borrower, closing its second transaction with PGIM in the last 10 months.   The community was built in the 1980s and boasted 95% occupancy. It previously had a HUD mortgage holding an interest rate of 4.25%. However, Christopher Fenton and Catherine Eby arranged a new $13.2 million loan that both extended the borrower’s loan maturity and lowered the interest rate to 3.03%. That results in annual debt... Read More »
PGIM Arranges Array of HUD Financings

PGIM Arranges Array of HUD Financings

by | Feb 2, 2021 5:00 pm | Financings

PGIM’s Seniors Housing and Healthcare Group was busy on the HUD front this month, closing three loans totaling more than $33 million for three senior care facilities. Christopher Fenton, Corley Audorff, Catherine Eby and Josh Williams originated the loans and all worked on the largest transaction, which was a $21.9 million loan for a 238-unit assisted living/skilled nursing campus in Connecticut. Utilizing HUD’s 232/223(a)(7) program, the not-for-profit owner was able to lower its current interest rate by 81 basis points, and the loan term was extended to 35 years.  Then, Messrs. Audorff and Williams funded a $10.9 million loan for a 141-unit senior care... Read More »
HealthPeak Sells 10 Aegis Living Communities

HealthPeak Sells 10 Aegis Living Communities

by | Jan 12, 2021 4:20 pm | Acquisitions

HealthPeak Properties continues its exit from the seniors housing business, both its sale/leaseback portfolio as well as its RIDEA assets. In a large transaction, HealthPeak has sold 10 assisted living and memory care communities to its tenant, Aegis Living, which partnered with Blue Moon Capital Partners in the deal. The purchase price for the real estate (to HealthPeak) was $350 million, but the total price for the entire transaction was closer to $440 million, or about $626,700 per unit. Not too bad during a pandemic.   The 10 properties are located in California (6), Washington (3) and Nevada (1). Average occupancy in the third quarter... Read More »