Grandbridge Real Estate Capital facilitates sale of communities
Grandbridge Real Estate Capital’s senior housing investment sales team announced the sale of three senior housing communities in Florida on behalf of a national real estate investment trust (REIT).
The communities were sold in June and August in separate transactions. Two of the properties were sold to TJM Properties Inc and include The Grande and Balmoral. The third community, Forest Oaks, was sold to an undisclosed Florida-based buyer.
The sales complete the disposition of a portfolio of eight properties between December 2022 and August 2023.
Ziegler prices Ohio Living bonds
Investment bank Ziegler recently announced the successful pricing of Ohio LIving’s 2023 bonds worth over $59.92 million.
Proceeds of the Series 2023 Bonds will be used to refund existing bank debt; terminate an interest rate swap agreement; fund a debt services reserve fund equal to one year of debt service; fund $3 million of capital expenditures and pay pay costs of issuance associated with the financing, a press release announcing the pricing states.
The overall resulting average yield on the Series 2023 Bonds was 5.24% and they are callable in 7 years at 103%, declining to par in 10 years.
Transforming Age and Elder Care Alliance announce affiliation
Transforming Age and Elder Care Alliance will now be affiliated, and ECA is joining the Transforming Age network.
Transforming Age is one of the nation’s largest nonprofit senior living providers serving over 100,000 older adults. ECA is a nonprofit system serving nearly 10,000 older adults across five senior living communities in California.
With the affiliation, the organizations will leverage combined strengths to expand services, programming and offer sustainable housing for older adults.
HumanGood, Pleasant Spring Communities agree to affiliation
Pleasant Spring Communities, which oversees Springhouse Senior Living Community and Mount Pleasant Home and HumanGood recently announced an affiliation agreement.
The Mount Pleasant Home and Springhouse will be part of HumanGood’s portfolio of life plan and affordable housing senior living communities.
Foundry Commercial acquires White Springs Senior Living
Foundry Commercial, a real estate and investment firm, announced the acquisition of White Springs Senior Living, a community in Washington, DC.
This marks the 30th community in Foundry’s portfolio since its launch in 2020. The community will be managed by Spring Arbor Senior Living.
Legend Senior Living expands its Oklahoma portfolio
Legend Senior Living will assume management of four Arbor House Senior Living residences in the Oklahoma City area.
The transition includes Arbor House of Midwest City, Arbor House of Mustang, Arbor House of Norman Assisted Living; and Arbor House Reminisce Memory Care.
The Arbor House additions bring Legend Senior Living’s portfolio to 16 in Oklahoma.
Compass Community Living now CCL Hospitality Group
CCL Hospitality Group, the parent organization of Morrison Living, Unidine, Coreworks and The HUB, is now named CCL Hospitality Group.
The rebranding represents the evolving hospitality needs in senior living and health care.