MedCore Sells Washington Community
MedCore Partners announced the sale of its Cooks Hill Manor community, according to a press release.
The move brings MedCore portfolio to 15 senior living properties across the states of Arizona, California, Oregon, Texas, Utah, and Washington.
Grandbridge Arranges New Hampshire CCRC Sale
Grandbridge Real Estate Capital announced that it has arranged the sale of Hillside Village, a Type A continuing care retirement community located in New Hampshire, to Covenant Living for $33 million.
Hillside Village was approximately 60% occupied at the time of the sale and has entrance fees ranging from $200,000 to $700,000.
The community has been renamed Covenant of Keene.
Lument Sees Record Transaction Volume in 2021
Lument announced that it closed 137 total seniors housing and care transactions in 2021 for a total of $1.49 billion – a company record.
One big aspect of Lument’s 2021 deals were FHA note modifications totaling $828 million.
These modifications allow borrowers to maintain their existing FHA loans while reducing interest rates and monthly payments, critical features helping the industry bounce back from the pandemic.
Evergreen Real Estate Assumes Management of 16 Communities
Evergreen Real Estate Group announced that it has been retained to manage 16 multifamily communities across four states with a total of 1,377 units.
The portfolio includes a mix of market-rate units and affordable housing for families, seniors, and disabled individuals located in Illinois, Minnesota, Ohio, and Virginia.
MidCap Financial Closes $95 Million Loan on 14-Property AlerisLife Portfolio
MidCap Financial announced it has closed on a $95 million floating-rate first mortgage loan with AlerisLife, formerly known as Five Star Senior Living.
The transaction is secured by a 14-asset senior living portfolio with nearly 1,500 beds across the Northeast, Southeast, and Midwest.
Ziegler Announces $18.9 Million Pricing
Ziegler announced that it has priced series 2022 Bonds for Kendal at Lexington, an independent living, assisted living, and skilled nursing community in Lexington, Virginia.
Proceeds of the bonds will be used, along with other funds to refunder previous bond principal, pay costs associated with series 2022 bonds, and fund a debt service reserve fund.
CBRE Arranges Acquisition Financing for Solera, Wheelock JV
CBRE National Senior Housing has arranged acquisition financing for Edgeworth Park on behalf of a joint venture between Solera Senior Living and Wheelock Street Capital.
Edgeworth Park is an assisted living and memory care facility in Williamsburg Virginia.
MBK Senior Living Acquires Arizona Assisted Living Community
MBK Senior Living announced it has acquired Mariposa Point of Gilbert – an 83-unit assisted living community in Gilbert, Arizona that will now operate under the brand Sky Ridge.
The acquisition brings the MBK portfolio to 35 communities across the Western U.S.