Avanath Buys 360-Unit Affordable Seniors Housing Community in Corona, California

CORONA, CALIF. — Avanath Capital Management has purchased River Run Senior, an affordable seniors housing property located at 863 River Road in Corona. With this acquisition, Avanath now owns 11 properties in Southern California with 2,187 units under management in the region.Built in 2004, River Run consists of six three-story, garden-style residential buildings totaling 216,684 square feet. The community offers a mix of 306 one-bedroom units and 54 two-bedroom units. Units feature air …

SLIB Negotiates $17M Sale of Two-Property Seniors Housing Portfolio in Oregon

GRANTS PASS AND MEDFORD, ORE. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Bridge in Grants Pass and The Orchards in Medford. The properties are approximately 30 miles apart in the southwest corner of the state.The Bridge was constructed in 2001 and offers independent living and assisted living. The Orchards was built in 2000 and offers assisted living. The communities offer a total of 148 units in a combined 103,455 square feet across 3.6 acres of land.A …

SLIB Negotiates Sale of 62-Bed Skilled Nursing Facility in Plainfield, Connecticut

PLAINFIELD, CONN. — Senior Living Investment Brokerage (SLIB) has negotiated the sale of Villa Maria Nursing and Rehab, a 62-bed skilled nursing facility in Plainfield. The seller was a private investor, and the buyer was a New England-based owner-operator that now owns three communities in Connecticut. The price was not disclosed. Dave Balow of SLIB handled the

Ziegler Arranges $91.9M Bond Financing for Eliseo Seniors Housing Expansion in Tacoma, Washington

TACOMA, WASH. — Ziegler has arranged $91.9 million in bond financing, issued through the Washington State Housing Finance Commission, for an expansion project at Eliseo, a continuing care retirement community in Tacoma.Eliseo, formerly known as Tacoma Lutheran Retirement Community, is a nonprofit corporation established in 1975 to develop, own and operate senior living facilities. Eliseo comprises 53 independent living apartments, 88 condo-style independent living units, 41 licensed …

SLIB Brokers Sale of 37-Unit Countryside Living Memory Care Community in Canby, Oregon

CANBY, ORE. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Countryside Living, a memory care community in Canby, approximately 21 miles south of Portland.The asset features 37 units and 55 beds. The community was originally built in 1959; gutted, remodeled and expanded in 2007; and had its most recent renovations and expansion in 2011. The facility is approximately 21,746 square feet and is situated on approximately 0.78 acres of land.The seller was a local …

Cadence McShane Begins Renovation of Historic Seniors Housing Property in San Antonio

SAN ANTONIO — Cadence McShane Construction Co. has started renovations on the 12-story Granada Homes Senior Living Apartments, an age-restricted, low-income seniors housing property located in San Antonio’s RiverWalk area. The project will involve a complete revitalization of the 249-unit building, which was originally constructed in 1928. Renovations will include a restoration of levels one and 15 per historic guidelines to include updated unit amenities such as countertops and appliances, …

BHI Provides $31.1M Acquisition Loan for Southern New Jersey Seniors Housing Community

NEW YORK CITY — Commercial lender BHI, a division of Israel’s Bank Hapoalim, has provided a $31.1 million acquisition loan for a seniors housing community in Southern New Jersey. The name and location of the property, which has 110 units and is licensed for 130 beds, were not disclosed. Amenities include five living rooms, a library, game room, tea room, three dining rooms and a beauty salon. The borrower was Lionstone Care. The seller was also not

Ryan Cos. Begins Construction of 200-Unit Senior Living Community in Woodbury, Minnesota

WOODBURY, MINN. — Ryan Cos. US Inc. has begun construction of Talamore Senior Living Woodbury, a 200-unit senior living community in Woodbury, an eastern suburb of the Twin Cities. The four-story, 245,000-square-foot property will include 90 independent living units, 70 assisted living units, 26 memory care units and 14 care suites. Along with multiple dining venues, amenities will include a library, wellness and fitness center, spa, clubroom, activity room and large gathering space.Ryan …

Berkadia Provides $26M Loan for Refinancing of Affordable Seniors Housing Property in Union City, New Jersey

UNION CITY, N.J. — Berkadia has provided a $26 million permanent loan for the refinancing of an affordable seniors housing property in the Northern New Jersey community of Union City. Bella Vista Senior Apartments consists of 231 Section 8 housing units in a 24-story building. Laura Smith of Berkadia originated the 35-year loan through HUD’s 223(f) program on behalf of the borrower, Orlando Partners

Live Oak Funds $15M Construction Loan for Seniors Housing Community in Fairbanks, Alaska

FAIRBANKS, ALASKA — Live Oak Bank has provided a $15 million construction loan for owner-operator Frontier Partners LLC to support the development of a 68-unit assisted living community in Fairbanks.The community will consist of 50,680 square feet and will be situated on 7.8 acres.The debt was structured into two loans utilizing the SBA 504 program. The interim construction loan will be held by Live Oak Bank in the amount of $10.2 million, and the second bridge loan prior to the 504 …

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