Seniors Housing

IPA Negotiates $46.5M Sale of 135-Unit Active Adult Property in Bay Area

by Nellie Day January 17, 2017

SAN MATEO, CALIF. — Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in institutional and major private investors, has negotiated the sale of The Villa at San Mateo for $46.5 million. The mixed-use property includes a 135-unit age-restricted community with six ground floor retail spaces in the Bay Area city of San Mateo. Originally constructed in 1957 as the Villa Hotel, the 4.5-acre property was converted to apartments in 2006. The community is nearby a shopping center currently undergoing a 290,000-square-foot expansion, and is walking distance from the Hillsdale Caltrain Station, which offers express service to both San Francisco and San Jose. The IPA team of Stan Jones, Phil Saglimbeni, Sal Saglimbeni, Mark Myers and Joshua Jandris represented the seller, Acacia Capital. The buyer was Elder Care Alliance. CBRE Capital Markets’ Debt & Structured Finance team arranged $30.4 million in acquisition financing for Elder Care in the transaction. Fannie Mae will provide the 10-year, fixed-rate financing. Elder Care Alliance is a California-based nonprofit seniors housing operator.

January 17, 2017

Arizona Loans Multifamily Seniors Housing Western

Dekel Capital Arranges $25.4M Loan for 106-Unit Seniors Housing Community in Tucson

by Nellie Day January 17, 2017

TUCSON, ARIZ. — Dekel Capital, a Los Angeles-based real estate merchant bank, has arranged $25.4 million in financing for the development of Sage Tucson, an assisted living and memory care project in the Casas Adobes submarket of Tucson. The deal was capitalized with a $17 million construction loan arranged through Dekel’s advisory practice and $8.4 million joint-venture equity funded by the firm’s proprietary equity fund, Dekel Strategic Investors (DSI). The property will include 86 assisted living units and 20 memory care units in a two-story structure located on 9.6 acres. Construction began in late 2016 for completion in early 2018. This is the third investment Dekel has made with the borrower, Willis Development.

January 17, 2017

California Multifamily Seniors Housing Western

Cushman & Wakefield Arranges Sale of 233-Unit Seniors Housing Community in Laguna Hills

by Nellie Day January 16, 2017

LAGUNA HILLS, CALIF. — Cushman & Wakefield has arranged the sale of The Wellington, a 233-unit independent living and assisted living community in the Los Angeles suburb of Laguna Hills. The luxury community is located next to a master-planned, age-restricted community with over 14,000 residents. The buyer, which was not disclosed, has brought in San Diego-based Senior Resources Group to manage the property. David Rothschild, Mary Christian and Allen McMurty of Cushman & Wakefield’s National Senior Housing Investment Advisory represented the undisclosed seller in the transaction.

January 16, 2017

Loans Multifamily New Jersey Northeast Seniors Housing

Monticello Asset Management Facilitates $28.5M Mortgage Financing for Skilled Nursing Facility in New Jersey

by Amy Works January 16, 2017

PERTH AMBOY, N.J. — Investment advisor Monticello Asset Management LLC has originated $28.5 million in financing for The Alameda Center for Rehabilitation and Healthcare, a skilled nursing facility in the New York City suburb of Perth Amboy. The bridge-to-HUD loan provided capital for the acquisition of the property by a seniors housing owner-operator. The property consists of a six-story, 82,205-square-foot structure containing the healthcare facility and a detached one-story, 3,400-square-foot retail building. The facility contains 130 resident rooms and is licensed for 250 skilled nursing beds.

January 16, 2017

Florida Seniors Housing Southeast

Lancaster Pollard Negotiates $30.5M Sale of Seniors Housing Community in Central Florida

by John Nelson January 13, 2017

PORT ORANGE, FLA. — Lancaster Pollard has arranged the $30.5 million sale of CountrySide Lakes, a 146-unit independent living and assisted living community in Port Orange, approximately 55 miles northeast of Orlando. Shepherd Health, a Miami-based seniors housing developer and operator, purchased the property from a private ownership group. Natasha Ursuy of Fifth Third Bank originated a $24 million acquisition loan for the buyer through the bank. Built in 1984, CountrySide Lakes offers 26 independent living units and 120 assisted living units. The community currently has a waiting list and has averaged 97 percent occupancy since 2013. Chad Elliott and Gerald Swiacki of Lancaster Pollard represented the seller in the deal.

January 13, 2017

Multifamily Seniors Housing Texas

SLIB Negotiates $3.7M Sale of Skilled Nursing Facility in Snyder, Texas

by Amy Works January 11, 2017

SNYDER, TEXAS — Senior Living Investment Brokerage Inc. (SLIB) has arranged the $3.7 million sale of a skilled nursing facility in Snyder, located approximately 110 miles northeast of Odessa, Texas. The facility was built in 1977 and features 97 licensed and 72 operational beds. A Texas-based operator purchased the property. Neither the seller nor the name of the facility were disclosed. Matthew Alley led the SLIB team in negotiating the transaction.

January 11, 2017

Illinois Midwest Multifamily Seniors Housing

CA Ventures, Pathway Open $28M Senior Living Community in Grayslake, Illinois

by Kristin Harlow January 10, 2017

GRAYSLAKE, ILL. — CA Ventures LLC and Pathway Senior Living have opened Travanse Living at Grayslake, a 96-unit senior living community. The building is located at 1865 E. Belvidere Road in Grayslake, about 40 miles north of downtown Chicago. The community features 68 assisted living suites and 28 memory care residences. The assisted living suites consist of 29 studios, 37 one-bedroom and two two-bedroom units. Located on the third floor, the 28 memory care residences consist of 20 studios and eight two-bedroom units. The community is located two miles from Northwestern Medicine Grayslake Outpatient Center. Chicago-based Worn Jerabek Wiltse Architects designed the community. CA Ventures was the project developer, and Pathway will operate the community. Travanse Living communities are also located in Olathe, Kan. and Wheaton, Ill.

January 10, 2017

California Multifamily Seniors Housing Western

Cushman & Wakefield Brokers $25M Sale of Two-Property Assisted Living Portfolio in San Francisco

by Nellie Day January 10, 2017

SAN FRANCISCO — Cushman & Wakefield Senior Housing Capital Markets Group has arranged the $25 million sale of Hayes Valley Senior Living, a 52-unit, two-property assisted living portfolio in San Francisco. The two properties are located across the street from each other at 601 and 624 Laguna Street. 601 Laguna Street was built in the 1880s as a hotel and converted to assisted living in 1997. 624 Laguna Street was purpose-built as an assisted living facility in 2005. The buyer was a San Diego-based private owner-operator and the seller was a local nonprofit owner-operator. Richard Swartz, Jay Wagner and Aaron Rosenzweig led the Cushman & Wakefield team on the transaction.

January 10, 2017

California Multifamily Seniors Housing Western

Elder Care Alliance Acquires 135-Unit Independent Living Community in Bay Area

by Nellie Day January 6, 2017

SAN MATEO, CALIF. — Elder Care Alliance has acquired The Villa at San Mateo, a 135-unit independent living community in San Mateo, located between San Francisco and San Jose, for an undisclosed price. The community is located on a 4.5-acre campus. Elder Care partnered with Rockwood Pacific, CBRE and HJ Sims to complete the deal. The transaction marks the first acquisition by Elder Care Alliance, a Bay Area nonprofit operator. The company now serves nearly 700 seniors in five communities throughout California.

January 6, 2017

Multifamily New Jersey Northeast Seniors Housing

Walters Group Opens 70-Unit Cornerstone at Barnegat in New Jersey

by Amy Works January 3, 2017

BARNEGAT, N.J. — Walters Group has opened Cornerstone at Barnegat, an age- and income-restricted housing project located at 9 S. Main St. in Barnegat. The three-story building features 70 energy-efficient units in a mix of one- and two-bedroom layouts with balconies. On-site amenities include large gathering areas, fitness center, conference room, computers, outdoor barbecue area, secured access, elevators, and on-site management and maintenance. The property is restricted to residents age 55 or older.

January 3, 2017

Newer Posts

Older Posts