Zeigler Closes $30M For Florida-Based Community
Zeigler announed the successful closing of $30 million of Series 2022 Bonds for a Florida-based life plan community.
The community — called Vicar’s Landing — will use these funds along with other funds to finance a portion of an ongoing expansion plan, fund a debt service reserve fund, fund capitalized interest and to pay the cost of issuance of the Series 2022 Bonds.
Vicar’s Landing’s multi-purpose expansion plan will include the acquisition, site preparation and construction for new improvements.
JLL Arranges $61M Construction Loan
JLL Capital Markets announed that it has arranged a $61 million construction loan for the development of a senior living community in the Dallas area.
The Community — called The Preserve at Spring Creek — is a 230-unit IL, AL and memory care community located in Garland, Texas, a suburb of Dallas. The surrounding area is developing rapidly, but the senior living supply is notably old, according to a statement released by JLL.
JLL’s Alanna Ellis led the effort and represented the borrower in the transaction.
SLIB Facilitates Utah Sale
Senior Living Investment Brokerage announced it has facilitated the sale of a vacant assisted living community in the Sale Lake City suburb of Lehi, Utah.
The community, which includes 62 units, was built in 2016. It was sold by a Utah-based developer that was seeking to exit the industry and bought by another Utah-based company that specialized in skilled nursing and short-term rehab care that was looking to expand their portfolio into assisted living.
SLIB’s Jason Punzel, Brad Goodsell and Vince Viverito handled the transaction.
Helios Structures AL, Memory Care Sale
Helios Healthcare Advisors announed its role in the sale of an assisted living and memory care community in St. Paul, Minnesota.
In the transaction, Helios represented Vista Prarie Communities in the sale of the 60-unit community which was mostly occupied and had steady cash flow at the time of closing.
The community was purchased by Walker Methodist, another Minnesota-based non-profit health care provider.
Blueprint Arranges Sale of Eagle Community to Atlantis Senior Living
Blueprint Healthcare Real Estate Advisors announed that it has recently assisted non-profit senior living operator Eagle Senior Living to navigate Chapter 11 bankruptcy through a strategic disposition of a community called Vista Lake Assisted Living to operating company Atlantis Senior Living.
Vista Lake, located in central Florida, has 74 units of assisted living care. Eagle Senior Living acquired the community as part of a portfolio transaction in 2018, but it’s operations were severely impacted by Covid-19.
Foundry Commercial Acquires First Washington Senior Living Community
Foundry Commercial announed the closing of the acquisition of a senior living community in central Washington. For Foundry, the acquisition represents its first presence in the state of Washington.
The acquisition was completed as part of a joint venture with Cascadia Senior Living.
The community — called Fieldstone Memory Care, Fieldstone OchardWest and Fieldstone Adult Family Home — includes 121 units for IL, AL and memory care services.