Transactions & Financings: Grandbridge Facilitates CCRC Sale to LCS; Rendever Buys VR Platform


Ziegler Closes $47M Financing

Ziegler announced the successful closing of a $47 million financing Saint Therese of Corcoran, a Catholic senior living organization that will be used for the construction of a new community.

The community will be built in Corcoran, Minnesota and will include 99 IL, 34 AL and 20 memory care units on a 13-acre site.

The financing is comprised of $18.2 million of Series 2022AB and $28 million of Series 2023 Senior Living Revenue Notes


JLL Secures $52M for Senior Living Community

JLL Capital Markets announced it arranged $51.8 million in construction financing for the development of a senior living community to be built and managed by Salem, Oregaon-based Link Senior Development.

The community – to be called Ativo of Albuquerfui – will be a three-story, 144-unit community with a mix of IL, AL and memory care units. It will be built on a 6.5-acre plot of land in Albuquerque, New Mexico that will be adjacent to an ambulatory urgent care center and a medical office building.

Alanna Ellis led the JLL Capital Markets Debt Advisory team.


Blueprint Assists Community Sale, Acquisition Financing

Blueprint Healthcare Real Estate Advisors announced its role in the sale and acquisition financing of a senior living community in the Midwest to senior living owner/operator/developer Cedarhurst Senior Living.

The community — located in Omaha, Nebraska — is a Class A, 110-unit AL and memory care community that had an occupancy of more than 90% throughout the sales process.

After Blueprint’s bidding process led to a deal with Cedarhurst, the senior living company retained Blueprint to bolster the financing of the community.


Grandbridge Closes $81M CCRC Sale to LCS

Grandbridge Real Estate Capital announced that it arranged the sale of continuing care senior living community in Naples, Florida to Life Care Services (LCS0

The community – called the Arlington at Naples – is a continuing care retirement community (CCRC) with 175 independent living units, 42 assisted living units, 37 memory care units and 44 skilled nursing units.

At the time of the sale, the community was at approximately 75% occupancy for IL units, while the higher acuity occupancy was estimated at 69%.

Grandbridge’s Dave Kliewer and Jay Jordan led the team that represented the seller.


Rendever Acquires AARP Virtual Reality Platform

Rendever announced that it has acquired the AARP virtual reality platform, Alcove.

Alcove is available to families in their homes through the virtual reality equipment that they already own.

Rendever – which as traditionally focused its efforts on the senior living population – believes the acquisition represents an opportunity to decrease social isolation for seniors everywhere.

Companies featured in this article:

, , , , , , , ,