Sales
SLIB Aids in Sale of Georgia AL Community
Senior Living Investment Brokerage (SLIB) announced its role in the sale of an Atlanta-area assisted living community.
The community, called Laurel Lodge Assisted Living, includes 72 units in Cleveland, Georgia, which is located about 90 miles northeast of Atlanta.
Laurel Lodge was at 100% occupancy at the time of sale to an owner/operator that was originally engaged by the seller.
SLIB’s Bradley Clousing and Daniel Geraghty handled the transaction.
SLIB Facilitates Another Sale in Georgia With Pair of Communities
Senior Living Investment Brokerage announced its role in the sale of two assisted living and memory care communities located just 12 miles apart in Georgia.
The communities — Barnesville, Georgia-based Sunny Grove Assisted Living and Forsyth, Georgia-based River Place, combine for 69 units of assisted living and memory care.
A group of individual investors who partnered with a regional provider bought the communities from a local owner/operator that aims to exit senior living.
SLIB’s Daniel Geraghty and Brandley Clousing handled the sale.
SLIB Facilitates Sale of Florida-based AL, Memory Care Community
SLIB facilitated the sale of Vitality Lady Lake, an 89-unit assisted living and memory care community located in Lady Lake, Florida.
Vitality Lady Lake sits on about nine acres and includes 69 assisted living units and 20 memory care units with adequate square footage for expansion.
Vitality Lady Lake was part of a larger portfolio purchase in 2021. Now, the seller, a Northeastern-based real estate private equity fund, is offloading the community to a regional owner/operator that is looking to expand its Florida footprint.
Once again, Daniel Geraghty and Bradley Clousing handled this transition along with their colleague Ryan Saul.
SLIB Facilitates IL, AL Community in Minnesota
Senior Living Brokerage announced it has facilitated the sale of an IL and AL community located about 20 miles outside of Minneapolis.
The community, called River Oaks, has 84 units/104 beds on 1.7 acres of land in Anoka, Minnesota.
A real estate development company sold the community in an effort to consolidate and focus on its multifamily assets to a nonprofit buyer that plans to update and refresh the community over time.
For SLIB, the sale was handled by managing director Jeff Binder and managing director Jason Punzel.
SLIB Announces Sale of Two Kentucky-based Communities
SLIB announced the sale of a two-community portfolio of assisted living and memory care communities called the Chander Portfolio.
Located less than three miles apart in Bowling Green, Kentucky, the Chandler Portfolio has 92 units split between 61-unit Chandler Park Assisted Living and 31-unit Chander Memory Care.
The portfolio was sold to a Midwest-based owner/operator that is aiming to build upon its existing footprint.
Daniel Geraghty and Bradley Clousing handled this transaction for SLIB.
JLL Capital Markets Closes on Transitional Care Facility
JLL Capital Markets announced that it has closed on the sale of Methodist Transitional Care Center, a transitional care community near Dallas.
The community, located in DeSoto, Texas, has 100 beds and 66 units and currently has an absolute net lease with just over 13 years of primary term remaining at the time of sale and a cap rate based on one year of rent is 6.8%.
JLL Represented Madison Marquette who sold the community to LFI Real Estate.
Financings
Carnegie Capital Refinances AL, Memory Care Community
Carnegie Capital announced it has successfully refinanced a $10.5 million construction loan for a Houston-based assisted living and memory care community.
The refinancing, announced by Carnegie Managing Director, JD Stettin, allows the borrower to pay off its construction loan prior to its maturity.
For the borrower, the community is the only senior living facility in its portfolio.
Ziegler Closes $24M Financing for Nonprofit Owner/Operator
Ziegler announced the successful closing of $24.4 million in Series 2022A Bonds for Olmsted Township, Ohio-based nonprofit Eliza Jennings.
Eliza Jennings owns and operates a portfolio of three senior living campuses with a combined 175 IL units, 89 AL units and 216 skilled nursing beds — all of which are located in Ohio.
As a result of the financing, current Series 2022A and 2022B bonds are Eliza Jennings’ only outstanding debt, according to a press release from Ziegler.
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