Transactions
12 Oaks Managing 4 Longview Communities in Oklahoma
12 Oaks Senior Living deepened its relationship with Longview Senior Housing by taking on management of four assisted living and memory care communities in Oklahoma.
In addition to the four Oklahoma communities, 12 Oaks manages six Longview senior living communities in Texas.
Financings
Ziegler Closes Nearly $24M Loan for Illinois Senior Housing Nonprofit
Specialty investment bank Ziegler closed on $23.9 million in financing for Wisconsin Illinois Senior Housing Inc. (WISH).
The financing is composed of about $22.4 million of tax-exempt Series 2022 Bonds with more than $1.5 million in a taxable loan.
The Illinois non-profit plans to use the financing for a refunding of prior debt.
WISH owns and operates 10 assisted living facilities, eight skilled nursing facilities, and one independent living facility.
AHEPA Management Acquires Florida Affordable Senior Living Property
AHEPA Affordable Housing Management Company announced it has acquired a 98-unit affordable senior housing community named 18 Senior Apartments. The community will be re-branded to AHEPA West Palm Beach.
Located in West Palm Beach, Florida, AHEPA West Palm Beach is a three-story building with one-bedroom apartment units.
Avanath Capital Management Expands Affordable Portfolio in Orange County
Avanath Capital Management announced it has expanded its presence in Orange County by acquiring St. John’s Manor, a 36-unit affordable senior housing community for $11.75 million.
St. John’s Manor, located in Costa Mesa, California, Avanath’s third California-based acquisition in recent weeks. The private real estate manager also purchased the Overlook at Anaheim Hills in Anaheim and The Grove Senior in Garden Grove.
JLL Capital Markets Arranges Almost $16.3M for Two Sites
JLL Capital Markets has secured about $16.3 million in acquisition financing for two senior living development sites in California.
JLL secured the $10.5 million and nearly $5.8 million one-year, fixed-rate loans through Barnett Capital Limited.
The borrower, Calson Management, is developing a 128-unit assisted living and memory care community in Livermore, California, and an 82-unit assisted living and memory care community in Soquel California.
JLL Senior Director Bercut Smith, Director Lillian Roos, and analysts Lauren Sackler and Ace Sudah led the transaction.
Carnegie Capital Secures Financing for Cottage-Style Community
Carnegie Capital secured a $9 million construction loan to build a cottage-style senior living facility in the Dallas-Fort Worth area.
As planned, the community will have 64 units; 48 of which will be assisted living units and 16 of which will be memory care units.
Construction was originally scheduled to break ground in early 2020 but was delayed as a result of the Covid-19 pandemic.
Acquisitions
Sparrow Partners Buys Texas Active Adult Community
JLL Capital Markets closed on the sale of ArborView, a 151-unit Class A active adult community located within a master-planned development in Austin, Texas.
Sparrow Partners purchased the community from Cadence Multi-Family.
JLL Managing Director Charles Bissell led the team representing the seller.
Charter Senior Living Buys Community in Atlanta
Charter Senior Living has acquired a community s in Vinnings, Georgia, according to an announcement by Charter President and CEO, Kevin Bennema.
The community, Charter Senior Living of the Vining, is slated to get a facelift under a “significant remodeling plan in” the late summer.
New Perspective Adds Community Near Chicago
New Perspective has acquired a 100-unit assisted living and memory care facility in Long Grove, Illinois.
New Perspective rebranded the community, formerly called Arboria of Long Grove, to New Perspective Long Grove. The community was acquired in partnership with Boldt Capital.
New Perspective will operate and manage the property.
Lloyd Jones Buys Minnesota Community
Lloyd Jones has acquired an assisted living and memory care community in Rochester, Minnesota.
The community, River Bend, changed hands in early 2022 for about $26.5 million. Blueprint handled the sale.
The post Transactions & Financings: Sparrow Partners Buys Texas Active Adult Community; Charter Senior Living Acquires Atlanta Property appeared first on Senior Housing News.
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