• Janus Living Goes Public After Upsizing IPO

    Janus Living, a Healthpeak Properties-formed REIT and now the only publicly traded U.S. REIT fully dedicated to seniors housing with its entire portfolio structured under RIDEA, has launched its initial public offering of Class A-1 common stock. The company is now listed on the NYSE under the ticker “JAN.” It plans to pay a quarterly dividend of... Read More »
  • Partnership Acquires Two Long Island Communities

    Two Long Island assisted living communities were sold by their original developer/operator. Village Green Senior Living in Levittown (opened in 2020) and Village Walk Senior Living (opened in 2018) in Patchogue were acquired by a partnership between Fundamental Advisors, Scribner Capital and Atria Senior Living. They will be renamed Atria... Read More »
  • Artemis Real Estate Partners Purchases Class-A Community

    The developer of a Class-A seniors housing community in the Minneapolis, Minnesota MSA, has passed the torch to a new owner. Pillars of Lakeville, now known as The Crest at Lakeville, sits on 1.8 acres. Oppidan Investment Co., a company that developed multiple Pillars senior living properties in Minnesota, acquired the land from Crossroads... Read More »
  • Stand-Alone Memory Care Community Gets New Owner

    1031 CF Properties, a leading DST investor, acquired a stand-alone memory care community in the Spokane, Washington MSA. Built in 2005 with expansions in 2007 and 2013, Generations Memory Care offers 48 private units with 28,472 square feet on 2.067 acres. The seller was an investment group based in northern California that purchased the asset in... Read More »
  • Not-for-Profit Closes First Public Bond Issue in 20+ Years

    Ziegler announced the closing of a $30.0 million tax-exempt fixed rate bond issue for Butterfield Trail Village, Inc. (BTV). The Series 2026 bonds were issued through The Fayetteville Public Facilities Board. BTV is a not-for-profit corporation founded by five local churches in 1981 to own and operate a continuing care retirement community on... Read More »
National Health Investors Growing Yet Again

National Health Investors Growing Yet Again

Continuing its buying streak, National Health Investors added five new memory care communities and a new tenant relationship to its growing portfolio. The LaSalle Group developed these communities, located in Texas and Illinois with 223 total units, under the Autumn Leaves brand of stand-alone memory care communities. This isn’t the first time we’ve heard that name, as Autumn Leaves seemed to open a new community every other week in 2014/2015, concentrating in the Texas and Illinois markets. The openings keep coming too. Just this month, the operator opened its first South Carolina community in Greenville. There are two more projects scheduled to open in that state in the next two years,... Read More »

Hunt and Healthcare

Entering the senior living/healthcare lending market, Hunt Mortgage Group closed its first transaction in that sector with an $8.85 million refinance loan for a 50-bed memory care community in Rockwall, Texas through its new balance sheet lending platform launched earlier this year. Jim Neil, Director of Healthcare Lending at Hunt, was the originator while Jenifer Williams led the underwriting team on the transaction. On the receiving end of this loan was The LaSalle Group, the developer of the prolific Autumn Leaves® brand of assisted living/memory care with 27 existing communities and 15 under construction. Its community in Rockwall opened in 2011 and stabilized by mid-2013. But when a... Read More »

It may be spring, but Autumn Leaves are burgeoning

One week before The LaSalle Group broke ground on its ninth memory-care community in suburban Chicago, the company celebrated the grand opening of its second memory care community in the Atlanta area. On May 1, Autumn Leaves of Towne Lake— a 28,000 square-foot, $9.8 million community located in Woodstock, Georgia, about 30 miles north of Atlanta—opened with an official ribbon-cutting ceremony. The Towne Lake community will provide specialized services to 50 residents living with Alzheimer’s disease, dementia, or memory impairment. Then on May 7, Autumn Leaves of Arlington Heights, located 25 miles northwest of downtown Chicago, had its official groundbreaking ceremony. The Arlington... Read More »