Cambridge Realty Capital
Cambridge Realty Capital Companies recently announced the closing of a a $10.02 million FHA-Insured HUD LEAN mortgage for Villa Health Care, a 212-bed skilled nursing and assisted living facility in Sherman, Illinois. The property has 99 skilled nursing and 113 assisted living beds and financed through HUD’s 232(a)7 – LEAN program.
Greystone Healthcare Management
Greystone Healthcare Management is pleased to announce the addition of Carlton Shores Health and Rehabilitation Center, Daytona Beach, to its portfolio of nursing and assisted living facilities under management in Florida.
Carlton Shores, an 84 bed skilled nursing and 36 bed assisted living facility with nearly 100,000 square feet, represents a unique opportunity states Rob Yandek, Director of Acquisitions for Greystone Healthcare Management. “It is our intention to create the premier medical and rehabilitation destination in Daytona Beach and Carlton Shores offers a physical plant that gives us the platform we need to achieve that goal.”
Greystone Healthcare Management plans a substantial renovation program at Carlton Shores over the next 24 months to include: private rehabilitation suites; expanded and advanced therapy gyms; well appointed family and guest areas; transportation; and elegant aesthetic improvements designed to enhance the facility’s overall functionality and curb appeal. Acquisition and renovation financing was provided by The PrivateBank And Trust Company.
CBRE Announces the Sale of Six Senior Living Communities located in Colorado and Texas
The CB Richard Ellis Senior Housing Services Group is pleased to announce the recent sale of 50% of the interest in the Meridian Portfolio to Chartwell Seniors Housing REIT. Chartwell now owns 100% of the Portfolio, and the current operator, Horizon Bay, will continue to manage the Portfolio. The Meridian Portfolio consists of 1,042 IL/SNF units in six communities located in Colorado and Texas. The 50% interest sold for $110,500,000 ($212,092/unit). CBRE represented the Seller, ING Real Estate Management Australia. The Portfolio closed in May 2010 and had an average occupancy of 94%.