Ziegler Closes $71 M for Virginia Community
Ziegler announced the successful closing of $71 million Series 2022A and 2022B bonds for Shenandoah Valley Westminster-Canterbury (SVWC).
SVWC is a nonprofit organization that operates a Westminster, Virginia-based life plan community with nearly 400 residents with 218 independent living units, 48 assisted living units, 12 memory care units and 51 skilled nursing beds.
The financing is part of the community’s expansion project, the Hackwoods, which will bring 48 additional IL units to the community.
Ziegler Plays Role in $25 M Financing for CareConnectMD
Ziegler also announced that it played a role in the $25 million financing for CareConnectMD, a primary care provider coordination service. Minnesota-based TT Capital Partners led this round of financing.
California-based CareConnectMD contracts with managed care and insurance plans to provide primary and palliative care services to high-risk populations. The company will use this financing to further its footprint in California, Texas and Ohio.
Greystone Provides Nearly $7M Bridge Financing
Greystone announced that it provided $6.9 million in bridge financing to Willow Ridge Senior Living for its acquisition of a community in upstate New York
The community, known as Manor Hills, includes 137 assisted living units and 22 memory care units. It was purchased by Willow Ridge alongside key principals Michael Morris and Cayelan Morris in 2021.
Cushman & Wakefield Arranges Financing for New Community
Cushman & Wakefield announced it has arranged the refinancing of a newly developed community on behalf of Virtus and LCB Senior Living.
Provided by Vium Capital and Merchants Bank of Indiana, the financing is meant to repay the original construction loan and to provide a four-year interest-only period while the community completes its stabilization.
Named the Residence at Summer Street, the Stamford, Connecticut-based community was developed in 2018 by LCB. It includes 104 units of assisted living and memory care throughout its five-story building.
Cushman & Wakefield’s Richard Swartz, Jay Wagner, Jim Dooley and Joseph Carbone represented the borrower.
Cushman & Wakefield Arranges $16M For Acquisition
Cushman & Wakefield announced that it helped arrange $16.5 million for the acquisition of The Waters of Highland Park, an 84-unit IL, AL and memory care community.
Located in the Highland Park neighborhood of St. Paul Minnesota, The Waters at Highland Park was purchased in a joint venture between The Waters Senior Living at an unnamed institutional capital partner.
Cushman & Wakefield’s Rick Swartz, Jay Wagner, Sam Dylag and Bailey Nygard represented the borrower in the transaction.
JLL Capital Markets Arranges $73M for Two Omni Communities
JLL Capital Markets announced that it arranged $73.6 million in refinancing for two newly built luxury senior living communities near Cleaveland for Omni Smart Living.
The communities – Vitalia North Olmsted in Olmsted, Ohio, and Vitalia North Royalton in North Royalton, Ohio – have a total of 328 IL, AL and memory care units and include such amenities as gourmet meals, a fitness center with a pool and the Vitalia Scholars program.
Led by Joel Mendes and Billy Lichtenstein, JLL represented the borrower, Omni Smart Living.
Blueprint Arranges Lloyd Jones Acquisition
Blueprint Healthcare Real Estate Advisors announced it has arranged the sale of Rittenhouse Village of Valparaiso in Valparaiso, Indiana to Lloyd Jones Senior Living.
The community – a 90-unit assisted living and memory care community – was previously owned by a publicly-traded real estate investment trust (REIT) to help sell the community.
For Lloyd Jones, the acquisition represents a value add in a market with strong market fundamentals.
Blueprint Arranges Second Indiana Sale
Blueprint Healthcare Real Estate Advisors announced another sales arrangement in the Hoosier State with the sale of a distressed assisted living community in South Bend, Indiana.
For the buyer, a national owner/operator, the community had struggled to recuperate occupancy lost in the wake of the Covid-19 pandemic leading to a sale. The buyer group plans to reposition the community as an affordable option in the South Bend market by tapping the Indiana Assisted Living Waiver Program.
SLIB Facilitates Community Sale Near Portland
Senior Living Investment Brokerage announced it has facilitated the sale of a development parcel entitled for 98 units of senior housing in Woodburn, Oregon near Portland.
At approximately 8.9 acres, the land was parched by an Oregon-based development group. SLIB’s Jason Punzel, Brad Goodsell, and Vince Viverito handled the transaction.