Seniors Housing

Claiborne Hughes Health Center Franklin Tennessee

CFG Capital Markets Brokers $7.5M Sale of Tennessee Skilled Nursing Facility

by John Nelson February 12, 2015

FRANKLIN, TENN. — CFG Capital Markets has brokered the $7.5 million sale of Claiborne Hughes Health Center, a 157-bed skilled nursing facility (SNF) located in the town of Franklin. The facility is located approximately 30 minutes south of Nashville and is one of five licensed skilled nursing facilities in the county. The building was originally constructed in 1949 as a high school and converted into a SNF in 1981. Claiborne Hughes was sold for $47,770 per bed to a private investor group. Proceeds were used to fully retire HUD mortgage debt and other liabilities. Michael Burchell, Mike Coiro and Samer Tahboub of CFG Capital Markets were the advisors on the transaction representing the seller.

February 12, 2015

Illinois Midwest Multifamily Seniors Housing

Walker & Dunlop Provides $20M Financing to Assisted Living Facility in New Lenox, Ill.

by Danielle Everson February 9, 2015

NEW LENOX, ILL. — Walker & Dunlop has provided a $20 million loan for the refinancing of Cottages of New Lenox, an 80-unit, 100-bed assisted living and memory care facility in New Lenox. The loan was structured with three years of interest-only payments using Walker & Dunlop¹s interim loan program. The borrower is an affiliate of a joint venture between Chicago-based Focus Healthcare Partners LLC and Artemis Real Estate Partners LLC. John Pantone led the Walker & Dunlop team that structured the loan. Located 42 miles southwest of Chicago, Illinois, Cottages of New Lenox features five stand-alone, 20-resident cottages, including one building that provides assisted living. Additional amenities include personalized care, health care coordination, chef prepared meals, housekeeping, and secure courtyards.

February 9, 2015

Midwest Missouri Multifamily Seniors Housing

Senior Capital Advisors Arranges $28.5M Sale of 73-Unit Seniors Housing Facility

by Danielle Everson February 6, 2015

KANSAS CITY, MO. — Senior Capital Advisors, representing seller Principal Senior Living Group, has sold Benton House of Shoal Creek, a 73-unit, 88-bed assisted living and memory care community in Kansas City, Mo. The facility was sold to American Realty Capital Healthcare Trust II for $28.5 million, or $390,000 per unit. Bruce Gibson, principal with Senior Capital Advisors, led the sale. Principal Senior Living Group will continue to manage the property on behalf of the new owners. The property’s all-private-pay census was above 90 percent at closing. The community opened in 2012 and was expanded in late 2014.

February 6, 2015

Connecticut Loans Multifamily Northeast Seniors Housing

Capital One Bank Closes $52M in Refinancing for Seniors Housing Community in Connecticut

by Amy Works February 6, 2015

NORTH BRANFORD, CONN. — Capital One Bank has closed a $52 million senior secured term loan for the refinancing of Evergeen Woods, a continuing care retirement community in North Branford. The property features 227 independent living units, 22 assisted living units and 50 skilled nursing beds. The Shelter Group and affiliates of Herbert J. Sims & Co jointly own the facility. First Niagara also participated in arranging the loan.

February 6, 2015

Loans Massachusetts Multifamily Northeast Seniors Housing

Berkeley Point Capital Closes $16.2M in Refinancing for Atria Maplewood Place

by Amy Works February 5, 2015

MALDEN, MASS. — Berkeley Point Capital has closed a $16.2 million Freddie Mac loan for Atria Senior Living and its partners. The 7-year loan, which features a floating rate, will be used to refinance an existing first mortgage debt from MassHousing and facilitate the buyout of its tax credit equity partner. Additionally the loan will refinance Atria Maplewood Place, a 98-unit assisted living and memory care community in Malden. Doug Harper of Berkeley Point Capital negotiated the loan.

February 5, 2015

Loans Multifamily Seniors Housing Texas

Grandbridge Arranges $6M Loan for Seniors Housing Property in Dallas

by Haisten Willis February 4, 2015

DALLAS — Grandbridge Real Estate Capital has arranged a $6 million loan for Acadia Assisted Living, an 88-unit seniors housing community located in Dallas. BB&T Real Estate Funding’s Structured Loan Program provided funding for the acquisition. Richard Thomas and Meredith Davis of Grandbridge originated the transaction. Grandbridge’s seniors housing and healthcare finance team offers construction, non-recourse acquisition/bridge and permanent financing options to seniors housing owners nationwide.

February 4, 2015

Florida Multifamily Seniors Housing Southeast

Capital Health Group, Fortress to Build Memory Care Facility in St. Augustine

by John Nelson February 2, 2015

ST. AUGUSTINE, FLA. — Capital Health Group LLC and Fortress Ventures LLC have formed a joint venture to develop a 64-bed memory care community on nine acres of land located at 840 State Road 16 in St. Augustine. The land was purchased by the venture in December 2014, and the new facility is scheduled to open in the second quarter of 2016. Symphony Manor at St. Augustine will be a single-story facility with a secure memory care courtyard, large activity space, surround sound theater with an 80-inch screen and a dining room. Resident apartments will have cable TV, Wi-Fi, 24-hour emergency call systems, walk/roll-in showers and individual thermostats. Symphony Manor will also offer residents 24-hour staffing, dining services, concierge assistance, linen services, housekeeping, daily entertainment, fitness programming, educational services, social events and a private town car for resident appointments. Compass Pointe Healthcare System will manage Symphony Manor at St. Augustine.

February 2, 2015

Village Place Fort Lauderdale Housing Trust Group

Florida Multifamily Seniors Housing Southeast

Housing Trust Group Completes $15M Seniors Housing Community in Fort Lauderdale

by John Nelson January 28, 2015

FORT LAUDERDALE, FLA. — Housing Trust Group (HTG) has completed the construction of Village Place Apartments, a $15 million, 112-unit senior affordable housing community for ages 55 and up. The mid-rise community is located at 720 N.E. 4th Ave. in downtown Fort Lauderdale, blocks from the Las Olas Boulevard district. The property, which is already 100 percent leased, features units with granite countertops, split-level designs and eco-friendly features such as low-flow plumbing fixtures, low-VOC paint, Energy-Star qualified appliances, Energy-Star windows and energy efficient HVAC systems. HTG and architect Sotolongo Salman Henderson of Miami have designed and constructed Village Place to be designated a green building in line with the National Green Building Standards. The apartment community includes a gated entrance, community center with computers and Wi-Fi access throughout, swimming pool and a fitness room with exercise equipment. Residents will also have access to The Wave Modern Streetcar transit system that is scheduled to open in 2017. Project financing was provided by U.S. Bank in the amount of $38.6 million through its community development subsidiary, including a $13.2 million construction loan; a $3 million permanent financing loan; and $22.4 million of Low-Income Housing Tax Credit (LIHTC) equity from U.S. Bancorp Community …

January 28, 2015

Connecticut Multifamily Northeast Seniors Housing

EPOCH Senior Living, National Development to Build Memory Care Community in Connecticut

by Amy Works January 27, 2015

TRUMBULL, CONN. — Massachusetts-based National Development, in partnership with EPOCH Senior Living, has begun construction on Bridges by EPOCH at Trumbull, a state-of-the-art memory community in Trumbull. Located at 2415 Reservoir Ave., the 64-unit apartment complex is slated to open in summer 2015. Bridges by EPOCH will feature a 24-hour specially-trained health care staff. The project team includes Boston-based CBT as architect; Portsmouth, N.H.-based JSA Inc. as interior designer; and Middletown, Conn.-based C.E. Floyd Company as general contractor.

January 27, 2015

Multifamily New York Northeast Seniors Housing

IPA Arranges $16M Sale of Skilled Nursing Facility in New York

by Amy Works January 27, 2015

DUNKIRK, N.Y. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has completed the sale Chautauqua County Home, a 133-room skilled nursing facility located near Lake Erie in Dunkirk. The asset sold for $16 million, or $74,000 per bed. The buyer has upgrades planned for the 216-bed facility that will improve operations and profitability. Joshua Jandris and Mark Myers of IPA Marcus & Millichap’s Manhattan office represented the seller, Chautauqua County, and procured the buyer, a regional provider.

January 27, 2015

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