Financings
Inspired Healthcare Capital Close Two Before 2023
Inspired Healthcare Capital announced it closed two acquisitions before turning the calendar to 2023.
The first community – called Thrive at Augusta – is an 85-unit assisted living and memory care community located in Augusta, Georgia. The second community — called Dancing River — is an 84-unity assisted living and memory care community located in Grapevine, Texas.
For Scottsdale, Arizona-based IHC, the deals complete an effective year of acquisitions that included 12 transactions and 13 communities and totaled about $400 million.
MidCap Financial Closes Mortgage Loan on Portfolio
MidCap Financial announced it recently closed a joint venture between NexCore Group and Heitman on a floating-rate first mortgage loan.
The loan will facilitate the recapitalization of a 6-community senior living portfolio that consists of 821 total units that include IL, AL and memory care.
Experience Senior Living, which is NexCore’s senior living development and management division, will operate all of the communities.
Sales
Cushman & Wakefield Arranges Sale and Financing
Cushman & Wakefield announed that it arranged the sale of a 112-unit senior living community that will now be operated by Vitality Senior Living and owned by Winterpast Capital Partners.
The community — called Appletree Court — consists of 112 assisted living units in Richardson, Texas, part of the rapidly growing Dallas-Fort Worth metroplex.
Cushman & Wakefield’s Richard Swartz, Jay Wagner, Jim Dooley and Jack Griffin represented the seller, Franklin Park Senior Living.
SLIB Facilitates Memory Care Sale
Senior Living Investment Brokerage announced that it facilitated the sale of a memory care facility in Utah that will be operated by Ridgeline Management.
The community – called Barrington Place – is a 45-unit, 66-bed memory care community located in Clinton, Utah.
SLIB’s Jason Punzel, Vince Viverito and Brad Goodsell handled the transitions.
Transactions
Market Square Architects, Aesch Design Architects to Merge
Two architecture and design firms that specialize in the senior living industry announed that they will merge.
The firms — Market Square Architects and Aesh Design Architects – announced that they will merge and operate as Market Square Architects and will be led by Adam Wagner and Robert Harbeson.
Along with senior living, the firm works in multi-family, industrial, education health care, custom, residential and retail.
