National Church Residences Buys Near Atlanta
National Church Residences announced it finalized the purchase of a senior living community located on a larger campus called Christian City in Union City, Georgia.
The community — called Garden Terrace — adds 20 affordable senior living units to the National Church Residences portfolio and brings its total presence on the campus to 291 units.
Along with the acquisition, National Church Residences will spend about $750,000 to update the 35-year-old units.
SLIB Facilitates Sale in Wisconsin
Senior Living Investment Brokerage announced it has facilitated the sale of a senior living community near Madison, Wisconsin.
The community — called Wickshire Madison — was sold to a regional company that wanted to add in the Midwest and was sold by a real estate investment trust (REIT) that sought to divest a geographic outlier.
SLIB’s Daniel Geraghty and Ryan Saul handled the transaction.
RHF Acquires Affordable Housing Community
Retirement Housing Foundation announced it acquired an affordable senior living community that expands its footprint in Iowa.
The community — called Regency Apartments — is a three-story, 40-unit senior living community in Mason City, Iowa. For RHF, this acquisition brings its total presence in Iowa to seven communities.
12 Oaks Adds Arizona Community
12 Oaks Senior Living announed it added a memory care and assisted living community to its management portfolio.
The Community — called Copper Canyon Memory Care & Transitional Assisted Living — is located in Tucscon, Arizona and will augment four other senior living properties that 12 Oaks manages.
Greystone Provides $100M for Morning Pointe Senior Housing Portfolio
Greystone announed it provided $106.2 million in Freddie Mac Op5tigo loans that will be used to refinance a senior living portfolio that consists of eight communities in Tennessee and Kentucky.
The portfolio consists of eight communities and a total of 576 units of assisted living and memory care services.
Greystone’s Neal Raburn originated the loans for Morning Pointe.
VIUM Closes $250M in October
VIUM Capital announced that it closed four transitions in October that totaled more than $250 million of bridge and HUD loans for skilled nursing and assisted living asset classes.
Its assisted living closings included
- $7.7 million refinancing HUD loan for Illios-based skilled nursing and assisted living community with 130 beds.
- $89.4 million bridge loan for nine assisted living facilities based in Ohio and Pennsylvania
- $16.3 million bridge loan for the acquisition of 64 assisted living units in Michigan.
NHI Loans $42M for Senior Living Acquisition
National Health Investors (NYSE: NHI) announced it exercised its purchase option to acquire a senior living community in Virginia.
The community — called Bickford of Virginia Beach — is a 60-unit assisted living and memory care community located in Virginia Beach, Virginia. NHI adds the community to an existing master lease with Bickford Senior Living.
NHI agreed to a $3 million credit to Bickford’s deferred balance as part of the agreement. The move comes alongside a $42.5 million senior loan to refinance a portfolio of Texas-based skilled nursing facilities.