Seniors Housing

MARCUS AND MILLICHAP BROKERS $52M SENIOR HOUSING PORTFOLIO

by admin October 20, 2011

INDIANAPOLIS —Marcus & Millichap Real Estate Investment Services has closed the sale of a three-property senior housing portfolio for $52 million. The properties include the 122-unit Forest Creek Commons in Indianapolis, the 114-unit North Woods Commons in Kokomo, Ind. and the 154-unit Covington Commons in Fort Wayne, Ind. Mark Myers of Marcus & Millichap's Chicago office and Chris Hyldahl of the firm's Los Angeles office represented the seller, BAI of Indiana. They also represented the buyer, Newton, Mass.-based Five Star Quality Inc.

October 20, 2011

LTC PROPERTIES BUYS SENIOR HOUSING PROPERTY FOR $15.5M

by admin October 13, 2011

PASADENA AND AMARILLO — LTC Properties has recently acquired a 196-bed skilled-nursing facility, located in Pasadena, for $15.5 million in a sale-lease back transaction. LTC has also purchased a vacant parcel of land in Amarillo for $844,000 for the construction of a 120-bed skilled-nursing facility. The new skilled-nursing facility is slated for completion in mid to late 2012.

October 13, 2011

Seniors Housing Southeast

WALTON STREET SELLS SENIOR HOUSING COMPLEX

by admin October 12, 2011

CARY, N.C. — Walton Street Capital has sold the 176-room Woodland Terrace, a senior housing community located at 300 Kildaire Woods Dr. in Cary. CLW Health Care Services Group represented the seller in the transaction. The buyer was a Prudential-related entity. Kisco Senior Living, which was a minority partner for both the buyer and seller, will continue to manage the property.

October 12, 2011

Midwest Seniors Housing

THREE UNITS OF COTTAGES AT JOHNSTON COMMONS COMPLETE

by admin October 10, 2011

JOHNSTON, IOWA — Hubbell Construction has completed three units and the clubhouse for the $5.9 million, 31-unit The Cottages at Johnston Commons, a senior living community located at 5814 Northglenn Dr. in Johnston. An additional eight units are slated for completion by the end of October. Amenities include a community gardening area, clubhouse, business center and 24-hour fitness center.

October 10, 2011

Northeast Seniors Housing

LOVE FUNDING PROVIDES $7.86M LOAN TO WHITCOMB HOUSE

by admin October 10, 2011

MILFORD, MASS. — Love Funding has provided $7.86 million financing for the 87-bed Whitcomb House, an assisted-living community located at 245 W. St. in Milford. Leonard Lucas of Love's Boston office arranged the 35-year, self-amortizing loan through HUD.

October 10, 2011

Midwest Seniors Housing

LOVE FUNDING ARRANGES $6.51M LOAN

by admin October 4, 2011

CONNEAUT, OHIO — Love Funding has secured a $6.51 million refinance loan for the 100-bed Villa at the Lake, an assisted living center located at 48 Parrish Rd. in Conneaut. Robert Smallwood of Love Funding's Cleveland office arranged the financing through HUD's 232/223(f) loan program.

October 4, 2011

Seniors Housing Texas

LOVE FUNDING ARRANGES $9.22M LOAN FOR ASSISTED LIVING CENTER

by admin September 30, 2011

MURPHY — Love Funding has closed a $9.22 million construction loan for the 75,510-square-foot Orchard Park of Murphy, an assisted living center under development in Murphy. Joshua Hausfeld of Love Funding secured the loan with a a 40-year term through the U.S. Department of Housing and Urban Development (HUD) on behalf of the owners, McFarlin Group and Caddis Partners. The 84-bed community is slated to open in mid-2012.

September 30, 2011

Seniors Housing Texas

73-UNIT ASSISTED LIVING FACILITY IN OKLAHOMA CITY SELLS FOR $3M

by admin September 13, 2011

OKLAHOMA CITY, OKLA. — Emerald Square Assisted Living Community, a 73-unit senior housing development at 701 N. Council Rd. in Oklahoma City has been acquired for $3 million. The assisted living facility sits on 14.5 acres and was 70 percent leased at the time of the sale. Jacob Gehl and Ben Firestone of Marcus & Millichap Real Estate Investment Services brokered the sale on behalf of the seller, a special purpose entity set up by lenders, and represented the buyer, a Dallas-based private equity fund that specializes in repositioning distressed assets.

September 13, 2011

Seniors Housing Texas

TRIAD SENIOR LIVING, PARTNERS ACQUIRE RETIREMENT COMMUNITY

by admin September 1, 2011

TULSA, OKLA. — Dallas-based Triad Senior Living, Inc. and its partners have purchased the University Village Retirement Community in Tulsa. The community sits on a 38-acre campus at 8555 S. Lewis Ave. Terms of the deal involved $5.5 million in cash. The ownership group, including investor Keith Roberts and University Village Trust, plans to spend at least $2 million in renovations to the facility.

September 1, 2011

Midwest Seniors Housing

OAK GROVE SECURES $18.3M IN ACQUISITION FINANCING

by admin August 30, 2011

KOKOMO, ROCHESTER AND ANDERSON, IND. — St. Paul, Minn.-based Oak Grove Capital has arranged $18.3 million in acquisition financing through its Fannie Mae DUS program on behalf of Capital Senior Living Corp. The 10-year loans have a 30-year amortization schedule and were used to purchase the 78-unit Green Tree of Kokomo in Kokomo and the 50-unit Wynnfield Crossing in Rochester. A loan on the 58-unit Keystone Woods in Anderson is expected to close mid-September.

August 30, 2011

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