The Green House Project and the Pioneer Network Team Up
The Green House Project and Pioneer Network announced they would enter into a formal alliance with the goal of sparking cultural, organizational and physical change in senior living and senior care.
The two brands share roots and have long worked together. The Pioneer Network was founded in 1997 to foster elder-directed operational culture in nursing homes and other senior living communities.
The Green House Project (GHP) was launched in 2003 by Dr. Bill Thomas, a geriatrician and co-founder of the Pioneer Network. The goal of GHP was to change the physical structure and design of senior living facilities.
Life Enriching Communities, Wesley Communities Finalize Affiliation
Life Enriching Communities (LEC) and The Wesley Communities finalized their affiliation on May 1.
As part of the agreement, Wesley will become an affiliate of LEC and will report upo through its organizational structure.
The affiliation combines two three-communities portfolios for a total of six continuing care retirement communities (CCRC). And Wesley Hospice offers hospice care and support in Wesley communities.
Charter Senior Living Adds Georgia Community
Charter Senior Living announced it has added The Social at Vinings to its growing portfolio of senior living properties.
The Social at Vinings – now rebranded as Charter Senior Living of Vinings – is located in Atlanta, and will undergo management changes with the goal of making the “once-ordinary senior living and memory care community… an extraordinary place where residents, families and team members can thrive,” according to a statement.
Ziegler Advises on $24M Construction Loan
Zigler announced that it advised Onelife Senior Living on a construction loan valued at $24 million to build an assisted living facility in Springfield, Oregon.
Named The Esther, the community, a 103-unit assisted living facility, will be Onelife’s fifth Oregon-based assisted living and/or memory care community.
Eric Johnson, a director in Ziegler’s Senior Housing & Care Finance Practice led the transaction.
Ziegler Advises $20M Acquisition Financing for Florida Communities
Chicago-based Ziegler announced it acted as the exclusive financial advisor on behalf of Comprehensive Care Capital to raise $20.5 million in acquisition financings.
The money will be used to acquire two Florida-based communities – Banyan Place – Boca and Banyan Place – Lantana. The communities both include independent living, assisted living and memory care services and have 169 combined units.
Ziegler Senior Housing & Care Finance Practice Managing Director Christopher Utz arranged and negotiated the transaction.
Ziegler Closes on $68M for Florida Expansion
Ziegler announced it closed on $68 million in financing for Cypress Cove at HealthPark, Florida.
The financing will be put towards a campus expansion and will be made up of $44 million of Series A fixed-rate bonds and $24 million of Series B fixed-rate mandatory paydown securities.
Currently, Cypress Cove owns and operates the HealthPark life plan community in Fort Meyers, Florida. It has 529 units on a 48-acre campus. With the financing, Cypress Cove plans to ad a 12-acre gated community that will include 24 independent living villas and 24 independent living apartments that will be in a five-story luxury apartment building complete with common amenities.
Ziegler Closes $193M for Virginia Nonprofit
Ziegler announced the successful closing of $193.1 million in Series 2022 A, 2022 B and 2022 C bonds for the Westminster Canterbury Richmond.
Westminster is a non-profit corporation that owns a life plan community in Richmond, Virginia that has become one of the largest single-site campuses with 809 total units including 487 independent living units, 164 assisted living units and 158 nursing units. It ranked no. 10 among the largest life plan communities in the U.S., according to the 2021 LeadingAge Ziegler 200.
The funding will be used for a project announced in 2019 called the Vibrancy! a project that will see two separate additions of independent living apartments, adding a total of 118 new independent living units when completed.
JLL Capital Markets Secures Construction Financing
JLL Capital Markets announced it has arranged construction financing for the redevelopment of a former Italian restaurant called Frankie, Johnnie & Luigi Too! into a senior living community.
The community – Mountain View Memory Care – will be a Class A private-pay memory care community in Mountain View with 54 units and 60 bets.
JLL worked on behalf of the D’Ambrosio Family. The deal was led by JLL Senior Director Becut Smith, Director Lillian Roos and Associate Chad Morgan.
JLL Arranges $30M Refinancing in Southern California
JLL Capital Markets announced it has arranged $30.3 million in the refinancing of a 172-unit active adult community in Southern California.
The Community – called Nantucket Creek – is a garden-style age-restricted 55+ community with one- and two-bedroom options ranging from about 600 square feet to about 1,100 square feet.
JLL’s capital markets debt advisory team represented the borrower, Universe Holdings, and included Senior Managing Director Charles Halladay, Director Jonah Aelyon and Analyst Elle Mergalia.
Cushman & Wakefield Arrange $24M for Memory Care Acquisition
Cushman & Wakefield (NYSE: CWK) announced it has arranged $24.6 million in financing for the acquisition of a luxury senior living community in Kansas.
The community – Silvercrest at College View – is a 136-unit independent living, assisted living, and memory care community located in Lenexa, Kansas.
Rick Swartz, Jay Wagner, Sam Daylag, Bailey Nygard and Jack Griffen Represented the Borrower and the loan was provided by Trustmark Bank.
Mission Senior Living Expands New Mexico Footprint
Mission Senior Living announced the acquisition of Wheatfields Estates Senior Living and Memory Care. The acquisition brings Mission’s total number of senior living communities in New Mexico to seven.
Wheatfields Estates has independent living cottages as well as assisted living and memory care units in Clovis, New Mexico.
Mission is also building in New Mexico with the construction of Three Rivers Estates Senior Living and Memory Care expected to finish up in the fall of 2022.
Chicago Pacific Founders Acquires Florida Community
Chicago Pacific Founders and its subsidiaries announced the acquisition of Sonata West, a 113-unity senior living community in Winter Garden, Florida.
Sonata West – rebranded to The Summit of Winter Garden – is located near medical offices, shopping options and an array of restaurants. Chicago Pacific plans to invest in The Summit with the goal of enhancing the quality of life for residents, families, associates and prospective residents, according to a release.
SLIB Facilitates Sale in Indiana
Senior Living Investment Bank announced it facilitated the sale of GentleCare of Vincennes, a skilled nursing facility with 52 beds based in Vincennes, Indiana.
Ryan Saul of SLIB handled the sale on behalf of a private, mom-and-pop operation who were looking to retire after years of contemplating a sale.