Transactions & Financings: CFP, Grace Management Add 2; Blueprint Closes Sale in Texas

Transactions

Watermark Takes Over Management of Almaden

Watermark Retirement Communities announced it has assumed the operational responsibility of a California-based senior living community and has added the community to its signature program.

The community – now called The Watermark at Almaden – is located in San Jose, California is Watermark’s ninth in the Northern California region and 18th in California.

Financings

Capital Funding Group Passes $2.7B in 2022

Capital Funding Group announced that the company completed more than $2.7 billion in financings deals in 2022, including delts for assisted living communities in addition to the long-term care and multifamily industries.

Included in CFG’s transactions were 25 HUD loans for more than $250 million and 88 health care and multifamily bridge-to-HUD loans for more than $2.5 billion.

Among the senior living transactions was a $40 million loan that was used for the refinancing of an assisted living and memory care community in California and an $18 million loan for the refinancing of a 99-unit AL and memory care community that is also located in California. 

BWE Secures Financing for AL, Memory Care Communities

Bellwether Enterprise Real Estate Capital (BWE) announced that it served as the advisor to an affiliate of Harrison Street Real Esate Capital for the acquisitions of three senior living communities.

The communities — Oakmont of Agoura Hills, Oakmont of Lodi and Reynolds Rnks Parkway — are all California-based assisted living and memory care communities. Oakmont Management Group will continue to manage the communities.

BWE’s Ryan Stoll and Taylor Mokris represented the borrower.

Acquisitions

Chicago Pacific Founders Acquires Pair of Communities for Grance Management

Chicago Pacific Founders announed it has acquired two senior living communities both of which are located in Georgia. The communities – Celebration Village Acworth and Celebration Village Forsyth – will be managed by CPF subsidiary Grace Management.

Both communities include IL, AL memory care and concierge living services in addition to a full spectrum of amenities and programming.

Sales

Blueprint Executes Texas-Based Sale

Blueprint Healthcare Real Estate Advisors announced its role in executing the sale of a Texas-based senior living community.

The community – called The Inn at Los Patios – is a 166-unit senior living community with IL and AL units that was about 80% occupied at the time of the sale.

Blueprint found a private equity group from New York with a Texas-based operating partner to purchase The Inn at Los Patios in an all-cash deal for $21 million.

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