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Transactions & Financings: Cushman & Wakefield’s $49 Million Portfolio Sale; Capital One’s $38 Million Construction Loan

Cushman & Wakefield brokers $48.5 million South Carolina assisted living portfolio sale

Cushman & Wakefield Senior Director Paul Carr, Director David Kliewer and Executive Director Allen McMurtry represented Graycliff Capital Senior Housing in the $48.4 million sale of three assisted living and memory care communities in South Carolina’s upstate region. The buyer was Birmingham, Alabama-based Atlas Senior Living.

The communities — Spring in Travelers Rest, Fairview Park in Simpsonville and Oakview Park in Powdersville — total 198 units. Each community comprises of 48 assisted living units and 18 memory care units.

Capital One provides $35.7 million construction loan for Florida senior living community

Capital One provided a $35.7 million loan to Caddis to finance the construction of Heartis Venice, a 191,000 square foot, 182-unit, three-story seniors housing community in Venice, Florida. The new community will be managed by Solvere Living, a St. Petersburg, Florida based firm.

Cambridge arranges $13 million HUD loan for California assisted living facility

Cambridge Realty Capital Companies arranged a $13 million HUD Lean loan to refinance Jasmin Terrace, a 150-bed assisted living facility in Pasadena, California. The fully-amortized, 30-year loan was arranged for the owner, a California limited liability company, using the HUD Section 232 program.

ESI arranges $9.75 million sale of Connecticut
assisted living facility

Evans Senior Investments (ESI) represented the seller, an independent owner/operator, in the $9.75 million sale of The Gardens, a 48-unit assisted living facility in Danbury, Connecticut. The 100% private pay community averaged 85% occupancy over the past 12 months.

The buyer was a Maryland-based operating company.

Blueprint arranges $6.1 million sale of LA-area assisted living facility

Blueprint Healthcare Real Estate Advisors Senior Managing Director Jacob Gehl, Managing Director Humair Sabir and Senior Associate Scott Frazier facilitated the $6.1 million sale of a 109-bed assisted living facility in Riverside, California. Blueprint executed the transaction on behalf of a Florida-based private equity firm.

New Perspective Senior Living acquires Minnesota assisted living facility

Eden Prairie, Minnesota-based New Perspective Senior Living acquired Carlson Parkway, a senior housing community in Minnetonka, Minnesota comprising of 87 assisted living and 35 memory care apartments. New Perspective will launch a $1 million renovation plan later this year to improve the community’s resident and family experience.

The post Transactions & Financings: Cushman & Wakefield’s $49 Million Portfolio Sale; Capital One’s $38 Million Construction Loan appeared first on Senior Housing News.

Source: Senior Housing News

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