FILLMORE AND SAN BERNADINO, CALIF. — Helios Healthcare Advisors has arranged the refinancing of a two-property portfolio in California. EVA Care Group was the borrower. The portfolio totals 165 beds across a skilled nursing facility in San Bernardino and an assisted living community in Fillmore. According to Helios, both properties were previously mortgage free, allowing for greater liquidity. Helios secured funding through a private credit fund. The financing was structured to strengthen working capital throughout the borrower’s broader portfolio.
OCEAN SPRINGS, MISS. — Senior Living Investment Brokerage (SLIB) has arranged the sale of a seniors housing community located in Ocean Springs along the Mississippi Gulf Coast. Totaling 140 units, the property features 18 independent living apartments, 60 assisted living residences and 62 memory care units. According to SLIB, the community was stabilized at the time of sale. The seller, the partnership that developed the asset, is exiting the seniors housing sector. A Southeast-based owner and operator with an existing presence in the state acquired the community for an undisclosed price. Daniel Geraghty and Bradley Clousing of SLIB brokered the transaction on behalf of the seller.
SEATTLE — Nonprofit organization Horizon House has secured bond financing for a development project at its senior living campus in the First Hill neighborhood of Seattle. Ziegler arranged the financing, completing the successful pricing of Horizon House’s $600 million Series 2025AB bonds through the Washington State Housing Finance Commission. The bonds are scheduled to close in December. The existing senior living campus currently features 377 independent living apartments and 90 assisted living and memory care residences. The bonds will be used to fund a new, 33-story tower at the property, dubbed the West Tower. Upon completion, the project will add 202 independent living apartments, replacing a West Wing built in the 1980s. Apartment sizes within the West Tower will range from 861 to 2,206 square feet, with one- and two-bedroom layouts. Amenities at the building will include underground parking, resident gardens, a garden lounge, event spaces and a rooftop dining and lounge space. The bonds include short-term, fixed-rate Series B bonds to be repaid at roughly 80 percent occupancy and long-term, fixed-rate Series A bonds amortizing over 36 years through Jan. 1, 2061. “This financing package will directly support resident well-being, staff excellence and our mission to serve both middle-market and …
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Justice Department, RealPage Settle Lawsuit Over Use of Revenue Management Software in Apartment Rental Pricing
RICHARDSON, TEXAS AND WASHINGTON, D.C. — The U.S. Justice Department’s Antitrust Division has reached a settlement with RealPage Inc. as part of its ongoing enforcement against algorithmic coordination, information sharing and other anticompetitive practices in rental housing markets across the country, according to details disclosed in a North Carolina federal court on Monday. The proposed consent judgment, which still requires court approval before it can be implemented, would help restore free market competition in rental markets for millions of American renters, the Justice Department stated in a press release. “Competing companies must make independent pricing decisions, and with the rise of algorithmic and artificial intelligence tools, we will remain at the forefront of vigorous antitrust enforcement,” said Assistant Attorney General Abigail Slater of the Justice Department’s Antitrust Division. Headquartered in Richardson, Texas, RealPage is a provider of revenue management software and services for the conventional multifamily rental housing industry. In a civil antitrust claim filed in North Carolina in August 2024, the Justice Department and the attorneys general of eight states alleged that RealPage’s revenue management software relied on nonpublic, competitively sensitive information shared by landlords to set rental prices. The plaintiffs also alleged that RealPage’s software included features designed …
ATLANTA — KeyBank Community Development Lending and Investment (CDLI) has arranged $72.8 million in financing for a redevelopment phase of Atlanta Civic Center. The borrower, Civic Center Partners, is converting a portion of the property into a 148-unit affordable seniors housing community. Civic Center Partners — a joint venture between The Michaels Organization, Sophy Cos. and Republic Properties — is partnering with Atlanta Housing, which owns the Atlanta Civic Center, on the project. KeyBank CDLI provided a $39.1 million taxable construction loan and $25.2 million in federal low-income housing tax credit (LIHTC) equity. Key Commercial Mortgage Group originated an $8.5 million Fannie Mae MTEB permanent loan, and KeyBanc Capital Markets underwrote two series of tax-exempt bonds totaling $30 million. Upon completion, the senior living community will feature 30 units reserved for residents earning at or below 50 percent of the area median income (AMI); the remaining 118 units will be reserved for seniors earning at or below 60 percent of AMI. All units will be reserved for residents age 55 and older. Amenities at the community will include a lobby, package room, social service office, arts-and-crafts room, fitness center, community room, computer lounge and laundry room. Additionally, 500 square feet of …
RICHARDSON, TEXAS — Berkadia has arranged the sale and financing of Appletree Court, a 118-unit seniors housing property in Richardson, located northeast of Dallas. The community features assisted living and memory care units. A joint venture between Marquee Capital and Winterpast Capital Partners sold the property to a joint venture between Virtus Real Estate Capital and Winterpast. Ross Sanders, Dave Fasano, Cody Tremper and Mike Garbers of Berkadia represented the seller in the transaction. Austin Sacco, Steve Muth, Garrett Sacco and Alec Rosenfeld of Berkadia originated a seven-year, floating-rate Freddie Mac acquisition loan on behalf of the buyer.
SAN DIEGO — Azure Partners has acquired Cypress Court, a senior living community located in San Diego. Totaling 148 units, the property features 76 independent living and 72 assisted living residences. Kisco Senior Living sold the community for an undisclosed price. JLL Capital Markets brokered the transaction on behalf of the seller. JLL also secured a 10-year acquisition loan through Freddie Mac on behalf of Azure. “Azure is very excited about the acquisition of Cypress Court as our entrance into seniors housing, and we aim to rapidly expand our portfolio in the sector,” says Arthur Rosenberg, CEO of Azure. Northstar Senior Living will continue to manage the property.
WOODLAND HILLS, CALIF. — CCI has announced plans for the development of a 236-unit luxury senior living community in Woodland Hills, roughly 25 miles northwest of Los Angeles. Upon completion, Livelle Mulholland will feature 200 independent living units, seven villas, 16 assisted living apartments and 13 memory care units. LCS will manage the community. Amenities at the property will include a wellness center with therapy pools, nature trails and outdoor game courts, underground and attached garage parking, a restaurant, wine bar and rooftop lounge, indoor and outdoor theaters and classrooms. Construction is scheduled to begin in the second quarter of 2026, with a grand opening planned for the second half of 2028. The project team includes architect Perkins Eastman and engineer KPFF. Envicom is handling environmental and land planning, and Carlberg Associates and Brenner Consulting Group are responsible for horticulture and permit administration, respectively.
NORTH OGDEN, UTAH — Blueprint has brokered the sale of The Lodge at North Ogden, a 122-unit senior living property located in North Ogden, roughly 50 miles north of Salt Lake City. Opened in 2019, the community features independent living, assisted living and memory care residences. An undisclosed, non-traded REIT partnered with a regional operator and acquired the property for an undisclosed price. Amy Sitzman and Giancarlo Riso of Blueprint arranged the transaction on behalf of the seller.
CRYSTAL RIVER, FLA. — Affordable housing developers Housing Trust Group (HTG) and AM Affordable Housing have partnered to deliver The Fountains at Hidden Lake, an 81-unit affordable seniors housing community located at 10456 W. Ashburn Lane in Crystal River. The $24.5 million community was fully occupied at the grand opening to households age 62 and older who earn at or below 30, 40 and 60 percent of the area median income (AMI). Situated on 7 acres in west Florida, The Fountains at Hidden Lake includes 61 one-bedroom and 20 two-bedroom apartments ranging in size from 645 to 952 square feet. Amenities include a resort-style swimming pool, horseshoe court, fitness center, dog park and a multipurpose community room. Programming for the senior residents will include regular wellness check-ins, light housekeeping, grocery and laundry assistance and a calendar of community events and activities. Public and private funding sources for the project included $20.4 million in 9 percent Low-Income Housing Tax Credits (LIHTC) allocated by the Florida Housing Finance Corp. and syndicated by City Real Estate Advisors; an $18.5 million construction loan and $4.15 million permanent loan from KeyBank Real Estate Capital; and a $340,000 loan from the City of Crystal River. The …
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