• Novellus Divests in Colorado

    by | May 17, 2024 4:16 pm | Acquisitions

    Evans Senior Investment arranged the sale of an assisted living community in Denver, Colorado, representing Novellus Living in the transaction. ESI previously facilitated the sale of the community less than two years ago. Originally built in 2002, Novellus Cherry Creek comprises 66 units and operates on a 59% private pay basis. In 2022, occupancy... Read More »

  • CBRE Secures Financing for Washington Asset

    by | May 17, 2024 4:14 pm | Financings

    CBRE secured financing for a seniors housing community in Tacoma, Washington, on behalf of a joint venture between Harrison Street, PMB and GenCare Lifestyle. Built in 2020, GenCare Lifestyle Tacoma at Point Ruston comprises 159 independent living, assisted living and memory care units. The community fully opened in the fourth quarter of 2020 and... Read More »

  • Live Oak Bank Returns to Santee Seniors Housing Campus

    by | May 17, 2024 4:12 pm | Developments, Financings

    Live Oak Bank closed a $27.0 million refinance with a repeat client for an assisted living/memory care community, The Ridge at Lantern Crest, situated on a larger campus, Lantern Crest, in Santee, California. Lantern Crest, operated by Lantern Crest Senior Living, is a 34-acre seniors housing campus developed by The Grant Companies. It offers... Read More »

  • The Current Lending Environment for Senior Care Properties

    by | May 17, 2024 9:31 am | Acquisitions, Developments, Financings, Opinion

    The financing process has killed dozens (and hundreds) of deals in the last couple of years, and yet M&A activity is near record levels in the seniors housing and care industry. So deals are getting done, and not just with cash. Who has been lending and at what cost to the borrower? What hurdles have to be overcome? And when capital costs do... Read More »

  • Lument Arranges Tennessee SNF Sale (& Loan Assumption)

    by | May 16, 2024 4:27 pm | Acquisitions

    A skilled nursing facility in Tennessee that was struggling to maintain debt service and other loan obligations sold with the help of Laca Wong-Hammond and Isabel Carta of Lument Securities serving as exclusive financial advisor to the seller. Located in Rocky Top, about 25 miles from Knoxville, Summit View of Rocky Top is a 117-bed skilled... Read More »
Ziegler Closes Wisconsin CCRC Deal

Ziegler Closes Wisconsin CCRC Deal

by | Aug 10, 2021 4:14 pm | Acquisitions

Dan Revie, Don Husi, and Tedd Van Gorden from Ziegler represented Bridge Investment Group in the sale of its entrance-fee CCRC in Mequon, Wisconsin. LCS was the previous operator and will hand over management to the new owner, Iowa-based not-for-profit Lifespace Communities. No purchase price was disclosed, but Ziegler helped arrange acquisition financing for the deal. Built in 2003, the community has 159 independent living units, 36 assisted living units, 16 memory care units and 46 skilled nursing beds on a 52-acre campus. It will join six other Lifespace communities in the Midwest. Read More »
Ziegler Represents CJE SeniorLife in SNF Sale

Ziegler Represents CJE SeniorLife in SNF Sale

by | Aug 9, 2021 9:19 am | Acquisitions

Cascade Capital and Legacy Healthcare are acquiring a large skilled nursing facility in Skokie, Illinois, with Ziegler’s Dan Revie and Tedd Van Gorden representing the seller, CJE SeniorLife, in the transaction. Opened in 1981, the seven-story building has all private rooms, with 216 dually certified and 24 set aside for just Medicare patients. CJE Senior Living, in partnership with the Jewish Federation of Metropolitan Chicago, and Cascade/Legacy signed a letter of intent in February 2021 and closed the deal at the end of July. The purchase price was not disclosed.  Read More »
Ziegler Provides Financing For New Texas CCRC

Ziegler Provides Financing For New Texas CCRC

by | Jul 23, 2021 2:57 pm | Financings

Ziegler announced a $56.85 million bond closing for Westminster, a Texas-based not-for-profit corporation, to expand and renovate its Type-A CCRC in Austin. Set on 9.3 acres, the campus currently comprises 324 independent living units, 22 assisted living units and 85 skilled nursing beds, of which 30 are utilized for memory care. Life Care Services has managed the property since 1981.   LCS will also be providing development services for the expansion, which started in July 2020 and will feature a new five-story building with 43 IL, 36 AL and 38 MC units and another new five-story building with 18 IL units and a wellness center with a fitness center, PT/OT space and clinic. In addition,... Read More »
Ziegler Provides Financing For New Texas CCRC

Ziegler Finances Another CCRC Expansion

by | Jul 9, 2021 8:52 am | Financings

Investment banking firm Ziegler just closed on a $115.63 million bond financing for a Florida CCRC called Vicar’s Landing. The not-for-profit community is located in Ponte Vedra Beach on a 24.3-acre site within Sawgrass, a 4,800-acre private resort and residential community. The community currently includes 227 independent living units, 38 assisted living units and 60 skilled nursing facilities.   The new funds will be used to pay off some existing bond debt and partially finance a new project that will be located a mile from the current campus, to be called Vicar’s Landing at Oak Bridge. The proceeds will also be used to fund a debt service reserve fund, fund capitalized interest and pay... Read More »
Oregon CCRC Expanding with Bond Financing

Oregon CCRC Expanding with Bond Financing

by | Jun 22, 2021 10:10 pm | Developments, Financings

Friendsview, a Quaker-affiliated not-for-profit CCRC in Newburg, Oregon, is set to break ground on a new expansion and redevelopment project next month. To fund the project, the Type-A, entrance-fee-based community is set to receive $124.22 million in funding from bonds issued through the Yamhill County Hospital Authority and underwritten by Ziegler.   Greystone acted as the development consultant for the project, providing all necessary planning services to implement the project.   Bond financing is expected to be used toward three segments of Friendsview’s redevelopment project – Springbrook Meadows North, Sutton Terrace at University Village... Read More »