D.A. Davidson Closes Record-Setting $160M C-PACE Financing Deal
Salt Lake City-based D.A. Davidson announced it closed $160 million in Commerical Property Assessed Clean Energy (C-PACE) financing for a Utah-based life plan community. This marks the largest C-Pace deal in history.
The deal was completed in partnership with Petros PACE Finance, a financing firm dedicated to long-term C-PACE financing for commercial property owners.
The community – called Summit Vista – is a life plan community located in the Salt Lake City suburb of Taylorsville, Utah with nearly 1,600 units of senior living. Summit Vista will use the proceeds of the financing for ongoing construction that will prioritize energy-efficient projects.
BWE Locks In $4.5M for Affordable Senior Housing
BWE announced the closing of a $4.5 million loan that will provide long-term financing for a newly constructed affordable senior living community in the Atlanta area.
The community – called Legacy at Walton Trail – is a 90-unit active adult community for those aged 55 years or older located in Villa Rica, Georgia. To be eligible for a unit, residents must earn between 30% and 80% of median income. And a portion of the units will be subsidized with a long-term Section 8 contract.
BWE executive VP Victor August Jr. originated the financing on behalf of Walton Communities.
CBRE Arranges $58M for The Springs Living
CBRE National Senior Housing announced it arranged a 3-year, $58 million loan for two Oregone-based communities in The Springs Living’s portfolio. This is the second time in three year that CBRE has refinanced the portfolio.
The communities are The Springs at Carman Oaks in Lake Owego and The Springs at Wilsonville. Together they have 294 units of IL, AL and memory care in the Portland area of Oregon.
CBRE’s Aron Will, Tim Root and Michael Cregan arranged the financing.
SLIB Facilitates Sale in Ohio
Senior Living Investment Brokerage announced it facilitated the sale of a senior living community in Ohio near the Cincinnati area.
The community – called The Landing of Long Cove – is an 81-unit assisted living and memory care community located in Mason, Ohio that was built in 2011. The seller sought to divest the community in order to prioritize on other communities. The buyer is a Midwest owner-operator that aimed to deepen its Midwestern footprint.
SLIB’s Bradley Clousing, Daniel Geraghty and Ryan Saul handled the transaction.
Blueprint Advises Portfolio Divestiture
Blueprint Healthcare Real Estate Advisors announced the successful execution of a plan to divest an 11-community senior living portfolio.
The portfolio comprises more than 1,400 units throughout the 11 communities located in Ohio and Indiana. At the time of closing the portfolio had a run rate total revenue of $56 million and EBITDAR of $12 million.