WHEATLAND, WYO. — Prime Investment Properties has arranged the sale of the Heartland Inn & Suites hotel in Wheatland. Terms of the transaction were not disclosed. Heartland Inn & Suites features 57 guest rooms, complimentary breakfast, a fitness center, business services and convenient access to I-25.
DOUGLAS, WYO. — Senior Living Investment Brokerage (SLIB) has brokered the sale of Douglas Care Center and Mountain Lodge, a senior living and skilled nursing facility located in Douglas. The facility totals 74 units with 96 beds across two adjacent properties, with assisted living, memory care and skilled nursing offerings. Originally built in 1968, Douglas Care Center was renovated in 2010. Mountain Lodge was developed in 2018. Vince Viverito and Jason Punzel of SLIB arranged the transaction.
CHEYENNE, WYO. — Earthcore Industries, a Jacksonville, Fla.-based manufacturer and distributor of Isokern fireplaces and chimney systems, is constructing a distribution center in Cheyenne. The 30,000-square-foot facility will streamline Earthcore’s service to its Northwest and Upper Midwest distribution and dealer networks. The project team includes Cheyenne-based Richardson Construction Co. and Fort Collins, Colo.-based VFLA Architecture + Interiors. Groundbreaking is scheduled for April 10.
CHEYENNE, WYO. — Laramie County has acquired 2020 Carey Avenue, an office building in Cheyenne, for $5.5 million. The 74,476-square-foot office building occupies a full city block in Cheyenne’s downtown core. The nine-story building includes two off-street parking lots. James Bowers of Coldwell Banker Commercial The Property Exchange represented the county and the seller, Voss Family Limited Partnership, in the transaction.
CHEYENNE, WYO. — Cushman & Wakefield has arranged the sale of a multifamily complex located at 3306-3310 Myers in Cheyenne. Lazy P Apartments sold the property to Robinson Mountain Investments for $3 million, or approximately $144,000 per unit. At the time of sale, the 21-unit community was 95 percent occupied. Originally built in 1977, but undergoing several renovations in the time since opening, the property offers 21 one- and two-bedroom units and is centrally located within Cheyenne. Jared Goodman and Brian Mannlein of Cushman & Wakefield represented the seller in the transaction.
JACKSON, WYO. — Hodges Ward Elliott (HWE) has brokered the sale of Amangani, an ultra-luxury resort located at 1535 NE Butte Road in Jackson. Terms of the transaction were not released. Situated at the foothills of the Grand Tetons, Amangani features 40 suites with either an outdoor terrace or balcony with mountain views, an award-winning restaurant, spa and fitness center, plus a wide variety of excursions and adventures, including heli-skiing, dog sledding, whitewater rafting, fly fishing, photography tours and wildlife tours. Daniel Peek, Cyrus Vazifdar, Carolina Bernal and Alex Yiankes of HWE advised the undisclosed seller in the deal. HWE’s Debt Capital Markets team, led by Lawrence Britvan and Michael Straw, arranged acquisition financing for the undisclosed buyer.
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 Group.
CODY, WY., AND GREAT FALLS, MONT. — Senior Living Investment Brokerage (SLIB) has arranged the sale of two assisted living communities, located in Cody and Great Falls. The portfolio totals 107 units of assisted living and independent living. The buyer is an Oregon-based regional owner-operator familiar with the region. The seller and price were not disclosed. Bradley Clousing, Jason Punzel and Jeff Binder of SLIB handled the transactions.
JACKSON, WYO. — Chicago-based Waterton, as part of a joint venture with Jackson-based Orion Cos., has completed the acquisition of The Virginian Lodge and adjacent RV park, located at 750 W. Broadway in downtown Jackson. Built in the 1960s, the 170-key lodge will undergo a repositioning with renovations to rooms, amenities, common areas, retail spaces and food and beverage operations beginning in late 2020. The buyers plan to renovate and redesign the restaurant along with offering indoor/outdoor access via the property’s courtyard and soon-to-be upgraded pool and hot tub area. The repositioning plan also include the addition of five standalone camping units. The 13-acre site includes a main hotel building with 4,900-square-foot conference and event center, plus 2,600 square feet of retail space. Two adjacent buildings offer a 3,400-square-foot restaurant and 2,700 square feet of retail space. The property also includes a 103-stall RV park. OLS Hotels and Resorts/Springboard Hospitality will operate the hotel. New West Building Co. will serve as general contractor and a subsidiary of Orion Cos. will oversee construction. The acquisition price and redevelopment costs were not disclosed.
DENVER — Bellwether Enterprise Real Estate Capital has closed four transactions totaling $294.2 million in Fannie Mae loans for manufactured housing communities across the United States. MJ Vukovich of Bellwether’s Denver office, along with Ghazy Grijalva of the firm’s Chicago office, arranged the deals. In total the financing covers 5,554 pad sites across the five transactions. The deals include: A $28 million loan for two manufactured housing assets located in Montana on behalf of a Utah-based operator. A $23.2 million loan for a community located in Wyoming on behalf of an operator based in California and Colorado A $193.3 million loan for a portfolio of 13 properties located in the Rocky Mountain and Southern regions on behalf of a Colorado-based operator. A $46 million loan for five communities located in various states on behalf of a Utah-based operator. A $3.7 million Fannie Mae loan for a property located in North Carolina on behalf of a North Carolina-based operator. Bellwether Enterprise Real Estate Capital is the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment.
