Transactions & Financings: JLL Facilitates Sale to Cogir; VIUM Closes $1.1B in Q2

Financings

VIUM Capital Closes $1B in Q2

VIUM Capital, a senior housing and healthcare lender, announced that 2Q2022 was the most productive quarter in the company’s history with $1.1 billion in transactions.

The active second quarter brings the total volume of deals to $1.4 billion over 44 loans including financing projects in 16 states.

Columbus, Ohio-based VIUM expanded its product offering this year with a healthcare debt fund in conjunction with an affiliate of its joint venture partner, Merchants Capital.

About half of the $1.1 billion volume was originated by Brendan Healy.

CBRE Arranges Financing for Harrison Street, The Springs, PMP Joint Venture

CBRE National Senior Housing announced that it arranged construction financing for a joint venture development project between Harrison Street, The Springs Living and PMP LLC for a community to be named The Springs at Waterfront.

The construction financing, secured through a consortium of national banks, combes by way of a $145.1 million floating rate loan with four years interest only.

Once completed, the community — named The Springs at Waterfront — will include 250 IL, AL and memory care units as part of a larger development project called the Vancouver Waterfront in Vancouver, Washington, just across the Columbia River from Portland, Oregon.

Sales

JLL Facilitates AL Sale for $39 M

JLL Capital Markets announced that it has closed on the sale of a California-based assisted living community for $39.2 million to a joint venture between Cogir Management and a national investment partner.

Cogir will operate the community and has rebranded it as Cogir of Brentwood.

Cogir of Brentwood is an assisted living community situated on more than four acres in Brentwood, California. The pet-friendly community has one- and two-bedroom unit options and includes communal amenities like a beauty shop, outdoor pool and a theatre.

JLL’s Charles Bissell, Cody Tremper and Dean Ferris worked on behalf of the seller, Northwestern Mutual, to close the deal.

SLIB Aids in Selling IL, AL Community

Senior Living Investment Brokerage announced its role in the sale of a senior living community in the Minneapolis suburb of Anoka, Minnesota.

The buyer, a Minnesota-based nonprofit, plans to refresh and rebrand the 84-unit, 104-bed community currently names River Oaks.

SLIB’s Jeff BInder, Jason Punzel and Jake Anderson handled the transaction.

Acquisitions

Cushman & Wakefield Arranges Sale of Age-Restricted Multifamily Community

Cushman & Wakefield announced that it has arranged the sale of an age-restricted 55+ multifamily community in the Hudson Valley area that was completed in 2020.

Castle Lanterra Properties purchased the community, named Farrell Communities, in the midst of its effort to lease up its 102 one- and two-bedroom units.

Farrell Communities is located in Newburgh, New York, and has 30 one-bedroom units and 72 two-bedroom units all of which have their own laundry capabilities and private balconies. And, like so many active adult communities, Ferrell Communities boasts a pickleball court.

Cushman & Wakefield’s Adam Spies, Brian Whitmer, Niko Nicolaou, Ryan Dowd and Peter Welch represented the seller and found the buyer.