• PGIM Divests Two Arizona Assets

    JLL’s Seniors Housing Capital Markets team completed the sale and financing of three assets across two separate deals. First, it announced that it sold The Watermark at Morrison Ranch in Gilbert, Arizona, and Acoya Mesa in Mesa, Arizona. Both communities were stabilized at the time of the deal. JLL marketed the portfolio on behalf of the seller,... Read More »
  • Underperforming Asset Trades in California

    A seniors housing community in Vacaville, California, sold with the help of Nick Stahler and Chad Mundy of The Knapp-Stahler Group at Marcus & Millichap. At the time of LOI, the asset was underperforming and financially strained. Built in 2004, it features more than 80 assisted living and memory care units and is licensed for over 90 beds on... Read More »
  • Communities Sell in California and Missouri

    Haven Senior Investments closed a deal right before year-end and announced a couple of others from the preceding months. First, an assisted living community was facing a hard closing deadline, with a 30-day escrow and commercial loan that would have been canceled if the transaction did not close by December 31. Rebecca Van Wieren and Scott Fuller... Read More »
  • Cambridge Provides HUD Construction Financing

    Cambridge Realty Capital provided $6.5 million in construction financing for a 20-bed memory care addition to The Pointe at Pontiac, an existing 60-bed supportive living facility in Pontiac, Illinois. The borrower is an Illinois limited liability company. The financing is insured by HUD under its Section 241(a) program and will be used to fund... Read More »
  • SNF Portfolio Receives Bridge Financing

    MONTICELLOAM, along with firm affiliates, provided $60 million in bridge financing to a five-facility skilled nursing portfolio in Illinois. The two-year loan was originated by Karina Davydov. The returning healthcare client, who operates over a dozen skilled nursing facilities in Illinois, will use the loan proceeds to acquire the portfolio,... Read More »
A team effort

A team effort

We wrote in the August issue of The SeniorCare Investor of Birchwood Health Care Properties’ acquisition of four skilled nursing facilities and a hospice care and home health company in Oklahoma, and that HJ Sims had financed a $5.25 million subordinate loan to fund the deal. Now, RED Capital Partners has just announced that it closed a $12.7 million balance sheet acquisition loan for Birchwood’s take-over of the 361-bed portfolio. The transaction was unique, in that the ancillary home health and hospice business provided credit support for the bridge-to-HUD loan. Read More »

From fixing to building

A company with extensive experience in turning around struggling senior living communities is now developing its first property and is pulling together all manner of financing sources in its capital stack. Solutions Advisors, which got its start in 2010 advising senior living communities on management, marketing and sales strategies, has already broken ground on its flagship community in Hamilton, New Jersey. With 96 independent living, 75 assisted living and 24 memory care units, the community is expected to cost a total of $59 million, or about $302,600 per unit, to develop. In addition, 25 of the IL units can be converted to AL down the road, if the need presents itself. To operate the... Read More »