Transactions & Financings: CFG 2022 Volume Reaches Nearly $2B; Invesque Trims Active Adult from Portfolio


JLL Capital Markets Arranges $30M for Refinancing

JLL Capital Markets (NYSE: JLL) announced it arranged $29.57 million for refinancing for a Washington-based senior living community.

The community — Mirror Lake Village — is a 114-unit IL, AL and memory care community located in Federal Way, Washington near Puget Sound with amenities like an outdoor courtyard, covered patio, common dining room, commercial kitchen, hair salon, theater, library and an exercise room.

JLL’s Alanna Ellis and her colleagues represented the borrower in the transaction.


JLL Organizes $10M for Arizona Community

JLL Capital Market arranged a refinancing of more than $10.5 million for Queen Creek, Arizona-based Countryside Living.

Countryside Living is a newly built senior living community with assisted living and memory care options on about 2.5acres of land in the Southeast Phoenix suburb.

JLL, led by Brad Miner, Alanna Ellis, Martin Mbeteni and Zach Brantley, worked on behalf of the borrower — a joint venture between American Care Concepts and a group of private investors — to originate a 10-year, fixed-rate Fannie Mae loan.


CFG Invests Nearly $2B in First Half of 2022

Capital Funding Group announced this week that its total investment surpassed $1.8 billion for the first six months of 2022, including some 68 loans (55 bridge, 13 HUD) for long-term care and assisted living clients in the U.S.

Included in CFG’s deals is the $197 million acquisition of the 24-facility Spring Arbor portfolio in Maryland, Virginia and North Carolina.

And in the skilled nursing asset class, CFG’s transactions includeda $316.9 million bridge loan for the refinancing of a nationwide skilled nursing facility operator.

VIUM Capital Continues Big 2022

Vium Capital announced that it closed on approximately $100 million worth of transactions on seven projects in the month of July. This announcement comes on top of the senior housing capital partner’s $1.3 billion in financings in the first half of 2022.

In total, Vium provided six bridge loans in Pennsylvania, Tennessee, Washington, Texas, and Ohio and one HUD loan in Arizona. Deals involved both senior living and skilled nursing.


Invesque Trims $100M in Non-Core Assets Including Senior Living

North American health care real estate investment firm Invesque (TSX: IVQ) announced it has unloaded $113 million in non-core assets, including the sale of two Calamar active adult communities.

This most recent slew of sales brings Invesque’s total sales tally to $292 million in the last 12 months.

In the most recent sale, Invesque sold two active adult communities in Wheatfield, New York for adults aged 55 years old or older. The price equates to approximately $145,000 per unit and an implied cap rate of 5.7% on trailing NOI, according to a report.

Invesque CEO Scott White discussed the firm’s portfolio restructuring strategy in an April 2022 SHN+ TALKS appearance.

CBRE Arranges Sale, Acquisition Financing

CBRE National Senior Housing announced it has arranged the sale and relevant acquisition financing for a luxury senior living community in Scottsdale, Arizona.

The community — called Andara Senior Living — was sold on behalf of the Reliant Group to a joint venture between Colonial Oaks Senior Living and Fortress Investment Group. Both buyer and seller were represented by various CBRE teams.

John Sweeney, Aron Will, Garrett Sacco, Scott Bray, Austin Sacco and Adam Mincberg worked on the deal for CBRE.

Andara Senior Living includes 170 units between its two connected campuses and includes such amenities as an outdoor pool, luxury spa, billiards/card room and an art center.

Blueprint Facilitates Idaho Sale

Blueprint Healthcare Real Estate Advisors announced it has facilitated the sale of a 60-unit senior living community near Boise, Idaho.

The community, formerly Regency Columbia Village, is an assisted living and memory care community with four 16-unit buildings. It was sold to The Cottages, a senior living operator that specializes pod-style senior living. The Cottages plans to revitalize the community following the purchase.

Pike Senior Housing Sells NJ Community

Pike Senior Housing Partners announced the sale of a senior living community in Hamilton, New Jersey to Inspired Healthcare Capital for $98 million.

The Homestead at Hamilton is a 195-unit community with IL, AL and memory care services that was built in 2017 by Pike Senior Housing and its parent company, Pike Construction Co., and operated by Solvere Living.

Commercial real estate firm Cushman & Wakefield represented both Pike and Solvere in the sale.

Grandbridge Closes CCRC Portfolio Sale in Texas

Grandbridge Real Estate announced its role in arranging the sale of a Texas-based continuing care retirement community (CCRC) portfolio to Lifespace Communities.

The portfolio – dubbed the Bluebonnet Portfolio – includes 664 units for IL, AL, memory care and skilled nursing through its three locations: The Craig in Amarillo, Meadow Lake in Tyler and Wesley Court in Abilene.

Grandbridge’s David Kliewer and Jay Jordan represented the seller, a joint venture between RSF Partners and Evergreen Senior Living Properties.

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