Transactions and Financings: Westminster Communities of Florida Affiliation; Bridge Expands Into Texas

Affiliations

Garden Spot Communities, Frederick Living announce affiliation

Garden Spot Communities and Frederick Living announced an affiliation between the two organizations Sept. 1.

According to a press release, the affiliation process is well underway and when it is complete early next year, Frederick Living will become a Garden Spot Community to join Garden Spot Village and Maple Farm in Lancaster County, Pa. and Frederick Living in Montgomery County, Pa.

Read more on Senior Housing News.

Westminster Communities of Florida affiliates with Florida Presbyterian Homes

Westminster Communities of Florida has entered into an affiliation agreement with Florida Presbyterian Homes on Sept. 5.

The agreement is contingent upon approvals from various state and federal agencies, though management by Westminster Communities of Florida is anticipated to begin in September.

Additional details of the transaction are not available at this time.

Transactions

SLIB facilitates sale of 134-unit assisted living, memory care unit

Senior Living Investment Brokerage facilitated the sale of a Rochester, New York based assisted living and memory care community on Aug. 25.

The seller for the transaction is a national real estate investment firm and the buyer is a western New York based private equity firm with a presence in Rochester.

The community is noted to have seen a strong operational rebound from COVID.

United Church Homes Management expands portfolio with three additions

Marion-based United Church Homes Management announced it has expanded with three communities, adding nearly 300 to its management portfolio.

The properties are Wexner Heritage Village in Columbus, Ohio; The Northridge in North Ridgeville, Ohio and Friends Fellowship Community in Richmond, Ind.

United Church Homes Management currently manages 20 senior living communities in seven states, and has seen its portfolio grow by 38% in the past three years.

Financing

Ahepa Senior Living closes on $25 million to revitalize three communities

Fishers-based non-profit Ahepa Senior Living announced it has closed on a $25 million RAD for PRAC conversion for three Alabama communities.

The units that will receive the revitalization funding are the 51-unit Ahepa 310 V Apartments, the 65-unit Ahepa 310 VI and 59-unit Ahepa 310 VII.

Ahepa Senior Living operates 18 affordable senior housing communities in Alabama.

Management

Bridge Senior Living expands into Texas

Bridge Senior Living announced it has expanded into Texas by adding Washington Pointe Las Colinas, formerly MacArthur Hills, to its management portfolio on Sept. 5.

Washington Pointe offers memory care, assisted living and independent living options for residents, and the community will be undergoing a large-scale refurbishment to upscale its amenities.

Washington Pointe is the second community to transition to Bridge Senior Living’s management this year.

Rebranding

Ellison Willowbrook rebrands as Ellison Park

Northwest-Houston based Ellison Willowbrook has rebranded to the new name of Ellison Park.

The name change is meant to reflect the community’s “dedication to providing seniors with an exceptional and vibrant living experience,” according to Kimberly England, sales and marketing director at Ellison Park.