REBusinessOnline

Greystone Arranges Sale of Two-Property Seniors Housing Portfolio in Rhode Island

PROVIDENCE, R.I. — Greystone Real Estate Advisors has closed the sale of two seniors housing properties in Rhode Island: Chapel Hill in Cumberland and Smithfield Woods in Smithfield. The sales price was not disclosed. Both properties are located in the Providence metro area. Mike Garbers and Cody Tremper of Greystone Real Estate Advisors represented the seller in the transaction, a publicly traded REIT. The buyer was a partnership between GMF Capital, a New York-based private equity firm, and …

Lancaster Pollard Arranges $22.5M Construction Financing for Skilled Nursing Facility in Walnut Creek, California

WALNUT CREEK, CALIF. — Lancaster Pollard Mortgage Co. has arranged $22.5 million in financing for the construction of a skilled nursing facility in the Bay Area city of Walnut Creek. The borrower is Plum Healthcare Group LLC. Founded in 1999 and headquartered in San Marcos, Plum currently operates 55 skilled nursing facilities in California and Nevada. Grant Goodman led the transaction for Lancaster Pollard, along with Joe Munhall who leads the firm’s debt syndications group. A local …

Walker & Dunlop Secures $24.8M Construction Loan for Seniors Housing Complex in Michigan

WYOMING, MICH. — Walker & Dunlop Inc. has secured a $24.8 million loan for the construction of Traditions at Rivertown, a seniors housing complex in Wyoming, just south of Grand Rapids. The 150-unit property will include independent living, assisted living and memory care units. Slated for completion in November, the property will feature a library, bar, theater, fitness center, coffee bar, lounge and underground parking. Benjamin Krosin, Jeff Schmidt, Tim Cotter and Russell Dey of Walker …

Dougherty Provides $20.9M Construction Loan for Seniors Housing Apartment Complex in West St. Paul

WEST ST. PAUL, MINN. — Dougherty Mortgage LLC has provided a $20.9 million HUD-insured loan for the construction of Darts Senior Apartments, a 172-unit affordable seniors housing property in West St. Paul. All units will be restricted to persons age 62 and older who earn up to 60 percent of the area median income. Dougherty arranged the 40-year loan on behalf of the borrower, WSP Senior Housing I LLLP. In addition to the HUD-insured first mortgage, the project will receive equity from the …

Tutera Completes $55M Senior Living Community Near Kansas City

PRAIRIE VILLAGE, KAN. — Tutera Senior Living & Health has completed construction of Mission Chateau Senior Living Community in Prairie Village, just south of Kansas City. Development costs for the 214,800-square-foot, 18.4-acre development were estimated at $55 million. The community features 22 independent living villas, 121 independent living apartments, 40 assisted living units and 40 memory care units. Other offerings include on-site home healthcare and several Tutera rehabilitation …

CBRE Arranges Sale of 224-Unit Assisted Living Portfolio in Houston

HOUSTON — CBRE National Senior Housing has arranged the sale and acquisition financing for The Village Portfolio, a two-property, 224-unit assisted living portfolio in Houston. Lisa Widmier of CBRE National Senior Housing represented the institutional seller. Aron Will of CBRE National Senior Housing and Austin Sacco of CBRE National Senior Housing arranged acquisition financing on behalf of a joint venture between Bridgewood Property Co. and an institutional investor. CBRE secured two …

CSG Provides $12.9M HUD Construction Loan for Seniors Housing Community in Metro Dallas

ALLEN, TEXAS — Florida-based finance firm Churchill Stateside Group LLC (CSG) has provided a $12.9 million HUD construction loan for Springwood at Allen, a 92-unit community in the northeastern Dallas suburb of Allen that will serve seniors aged 62 and above. CSG closed the loan through HUD’s 221(d)(4) program on behalf of an undisclosed borrower. Construction of the community began in December

1031 Crowdfunding Acquires Assisted Living Community in Oregon for $19.1M

BANDON, ORE. — 1031 Crowdfunding LLC, through its affiliate 1031 CF Properties LLC, has acquired an 84-unit assisted living and memory care facility in Bandon, a coastal city in the southwest portion of Oregon. The purchase price was $19.1 million. The existing operator, Seasons Management, will continue to manage the property following the sale. Although the name of the property was not released, Pacific View Senior Living Community is Seasons’ only community in Bandon. The …

Blueprint Negotiates Sale of Three-Property Skilled Nursing Portfolio in Pennsylvania

SCRANTON, PA. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a three-property skilled nursing portfolio in the Wyoming Valley region of Northeast Pennsylvania. Blueprint represented the sellers, a private investor and regional operator. A REIT, along with an operational partner with an existing presence in the state, acquired the properties for an undisclosed price. Located along a 25-mile stretch in the Scranton/Wilkes-Barre market, the portfolio consists of 416 …

SVN Affordable | Levental Realty Brokers $47.5M Sale of Age-Restricted Community in Newark

NEWARK, N.J. — SVN Affordable | Levental Realty has brokered the $47.5 million sale of St. Mary’s Villa, a 360-unit, age-restricted community in Newark. The property is located at 425 Sanford Ave. Jamie Renzenbrink of SVN represented the undisclosed seller in the transaction. The buyer was Paces St. Mary’s. A number of energy-efficient upgrades are planned by the buyer at the property, including a new roof and solar panel

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