Transactions

Walker & Dunlop Surpasses $1.3B in 2022

Walker & Dunlop announced that it sold $1.3 billion in seniors housing and long-term care facilities from January through July this year — the highest mark for a half-year in company history.

Recently, Walker & Dunlop closed on a 25-community portfolio of age-restricted active adult communities in a deal with Welltower (NYSE: WELL) worth more than $500 million.

Led by Mark Myers, Josh Jandris, Brett Gardner, Joe Garibaldi and Chris Harris, Walker & Dunlop represented the seller, Calamar, in the sale of communities that carried an average monthly rental rate of $1,300 per unit and an average length of stay north of five years.

Financings

Zeigler Closes on $49M for Oregon Nonprofit

Ziegler announed that it closed on $42.4 million in Series 2022 Bonds and $7 million in a taxable revolving line of credit for a continuing care retirement community based in Oregon.

The community — Rose Villa — is located in Portland, Oregon on more than 21 acres with 261 IL homes, 16 nursing beds and 16 residential care beds. Rose Villa is adding 41 new IL homes along with a replacement supportive care neighborhood that started move-ins in July.

Rose Villa will use proceeds from the financing to refinance bonds, fund a debt service reserve fund and pay costs of issuance.

Ziegler Closes on $75M Series for Washington Community

Ziegler announced the closing of $74.6 million in Series 2022 Cinderella Bank Placement for a Gig Harbor, Washington-based senior living community.

The community — Heron’s Key — is a subsidiary of Emerald Communities that consists of 194 independent living units, 51 assisted living units and 30 skilled nursing beds.

Heron’s Key plans to use the proceeds to refinance Series 2015A Bonds that were originally used to fund the original construction of the community.

Sales

Inspired Healthcare Capital Buys Florida Community for $26M

Inspired Healthcare Capital announced it has purchased a senior living community in Dunedin, Florida for $26.5 million from VS Dunedin LLC, which is linked to the private equity firm ValStone Partners.

ValStone Partners bought the community in 2015 for about $4 million, according to a report by the Tampa Bay Business Journal.

The community — Grand Villa of Dunedin — consists of 120 units with AL and memory care services, for a price of nearly $221,000 per unit.

Inspired Healthcare operates a portfolio of senior living communities in Georgia, Illinois, Michigan and Oregon.