REBusinessOnline

MedCore Sells 60-Unit Birchview Memory Care in Sedro-Woolley, Washington

SEDRO-WOOLLEY, WASH. — MedCore Partners has sold Birchview Memory Care, a 60-unit senior living community in Sedro-Woolley, approximately 72 miles north of Seattle. The community was part of a seven-property portfolio that MedCore purchased in July 2020 with locations in Washington State and Southern California. The buyer and price were not disclosed.“We are pleased with our investment in Birchview and the success in operations during the 14 months MedCore owned it,” says Brian …

Capital Funding Group Provides $262.6M Refinancing for Skilled Nursing Portfolio in Colorado, California, Wyoming

BALTIMORE — Capital Funding Group, a Baltimore-based lender, has provided a $262.6 million term loan to refinance a 29-asset long-term care portfolio.Spanning Colorado, California and Wyoming, the portfolio includes 28 skilled nursing facilities and one joint skilled nursing and assisted living facility, with a total of 3,140 beds. The borrower is a privately owned real estate investment group.Erik Howard and Tim Eberhardt originated the transaction for Capital Funding

CHA Partners Nears Completion of 123-Bed Seniors Housing Community in East Hanover, New Jersey

EAST HANOVER, N.J. — New Jersey-based developer CHA Partners is nearing completion of LIVIA, a 123-bed senior living community in East Hanover, about 30 miles west of New York City. The 100,000-square-foot facility will offer skilled nursing, memory care, assisted living and long-term care/rehabilitation services. Amenities will include restaurant-style dining options, outdoor courtyards, a theater, game room, full-service bar/lounge, beauty salon, and a café. CHA Partners expects the …

Nexion Health Opens Eagle’s Landing Memory Care Facility in Eagle Lake, Texas

EAGLE LAKE, TEXAS — Provider Nexion Health has opened Eagle’s Landing, a memory care community within its Arbor Hills Rehabilitation and Healthcare Center in Eagle Lake, approximately 70 miles west of Houston. The asset offers 20 units. The Arbor Hills Rehabilitation and Healthcare Center was one of nine Texas facilities that Nexion Health took over the operations of in December

ESI Brokers $24M Sale of Skilled Nursing Community in New Jersey

NEW JERSEY — Evans Senior Investments (ESI) has arranged the sale of a 120-bed skilled nursing community in New Jersey for $24 million. The property, the name and location of which were not released, was built in the last 20 years with multiple renovations since. ESI represented the seller, an independent owner-operator that sought to exit the long-term care industry. The buyer was an East Coast-based owner-operator of skilled nursing communities that wanted to grow its presence in New

RAAM Construction Completes $29M Seniors Housing Project in La Puente, California

LA PUENTE, CALIF. — RAAM Construction has completed the construction of Arboleda Apartments, an affordable seniors housing development in La Puente, approximately 20 miles east of Los Angeles.Development costs for the 74-unit, 71,499-square-foot property are estimated at $29 million. Of the total apartments, 38 are fully ADA-accessible units.“The need for affordable housing has grown in recent years due to rising home prices and an overall housing shortage, and the COVID-19 pandemic …

SLIB Arranges $15.5M Sale of HOLI Senior Living Community in Hillsboro, Oregon

HILLSBORO, ORE. — Senior Living Investment Brokerage has negotiated the sale of HOLI Senior Living, a 72-unit assisted living and memory care community in Hillsboro, a suburb of Portland.The community was built in 2019, totaling 39,460 square feet on 2.1 acres.The seller was a local developer and operator, with this being its only seniors housing asset. A private equity firm from Texas bought the property for $15.5 million and installed a Pacific Northwest-based operator.Jason …

Highgate Capital, Aurora Health to Buy 300-Property Healthcare Portfolio in Deal Valued at $3.2B

BOCA RATON, FLA. — DigitalBridge (NYSE: DBRG) has agreed to sell its entire wellness portfolio, consisting of 300 seniors housing, skilled nursing, medical office and hospital properties, in a deal valued at $3.2 billion. The buyers are Highgate Capital Investments and Aurora Health Network.Before announcing its rebrand to DigitalBridge in June, the Boca Raton-based real estate investment trust (REIT) was formerly known as Colony Capital. The sale is the final step of the company’s …

Strawberry Fields REIT Acquires Six Nursing Facilities in Kentucky, Tennessee for $81M

SOUTH BEND, IND. — Strawberry Fields, a South Bend-based owner of long-term acute care hospitals, skilled nursing and assisted living facilities, has acquired six skilled nursing facilities located in Kentucky and Tennessee for $81 million. The properties include:• Landmark of Kuttawa, a 65-bed skilled nursing facility located at 1253 Lake Barkley Drive in Kuttawa, Ky., that was built in 1968. • Agape Rehabilitation & Nursing Center, an 84-bed skilled nursing facility located at …

Origin Construction to Build $75M Seniors Housing Community in Port St. Lucie, Florida

PORT ST. LUCIE, FLA. — Miami-based Origin Construction will build America Walks, an active adult rental community in Port St. Lucie spanning 60 acres and more than 400 residences. The project is expected to cost $75 million to develop and deliver in the third quarter of 2023. Ohio-based America Walks is the developer for the gated community.America Walks will feature both a residential and recreational component, including two four-story apartment buildings with 115 units, as well as 300 …

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