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Transactions & Financings: JLL Recaps 8-Community Portfolio for $175M; Two Life Plan Communities Explore Affiliation

Transactions

United Properties Rebrands, Moves Two Communities

United Properties announed that two of its communities currently managed by Watercrest will shift to Ebenezer Management Services and that they will be rebranded as part of the change.

The communities are located in Naples, Florida and Sarasota, Florida and will still be owned by United Properties. They will now be managed under the Amira Choice brand and will be the first Amria Choice communities in the South Florida market.

Moves for Seniors Partners with Upside

The senior moving and transition firm Moves for Seniors announced that it has entered a partnership with senior housing start-up, Upside. In the partnership, Moves for Seniors will provide residents who choose to downsize with Upside a full range of services to help with the move.

Moravian Manor, Morningstar Explore Affiliation

Moravian Manor Communities and Morningstar Living are exploring ways to work together in a more formal context.

Formalizing a relationship seems natural as Moravian and Morningstar are both faith-based nonprofit senior living life plan communities based in Pennsylvania.

Moravian’s current president and CEO, J. David Swartley is expected to be tapped to lead the affiliation as current Morningstar President and CEO, Susan Cooper Drabic is expected to announce her retirement in the coming months.

Financings

Ziegler Closes $95M Financing

Ziegler announced the closing of $95.6 million Series 2022A1 and 2022A2 bonds for the financing of a continuing care retirement community.

The community — called The Forest at Duke — is a CCRC located near the campus of Duke University in Durham, North Carolina that has a total of 235 independent living units, 32 assisted living units and 58 skilled nursing beds.

The financing is for phase 2 of a plan to upgrade and expand the community which includes adding a 71-unit independent living apartment building.

JLL Secures $175M for Recap of Senior Living Portfolio

JLL Capital Markets announed it has arranged a $175 refinancing for a 6-property senior living portfolio.

The communities are all located in the Southeastern U.S. and comprise IL, AL and memory care units. And five properties have only recently been completed with the sixth is currently under construction, according to a press release.

JLL’s Allison Holland and Jason Skalko represented the borrower in the transaction.

JLL Closes Sale in NJ

JLL Capital Markets announed it closed the $29.9 million sale of an active adult community in central New Jersey.

The community — called Royal Pines at Marlboro — is an age-restricted 55+ active adult community located in Englishtown, New Jersey. Despite being age restricted, the community allows as many as 20% of its residents to be as young as 35 years of age, according to a press release.

The community was bought by F.M. Ferrari Investments and the seller was a joint venture by GRJ and Castellan Real Estate Partners which were represented by JLL’s Michael Oliver, Jose Cruz, J.B. Bruno, Steve Simonelli and Michael Zlotnick.

The post Transactions & Financings: JLL Recaps 8-Community Portfolio for $175M; Two Life Plan Communities Explore Affiliation appeared first on Senior Housing News.

Source: For the full article please visit Senior Housing News

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