Helios arranges $9 million bridge-HUD loan for Texas senior housing provider
Helios Healthcare Advisors announced on Sept. 12 that is has arranged a $9 million bridge-HUD loan for an unnamed Texas senior housing provider.
The loan is part of an initiative to “recapitalize the borrower’s” 12-location portfolio, and the loan will be used for two locations in the San Antonio region that provide assisted living and memory care services.
During the process Helios arranged for a new operator at one of the borrower’s Houston communities.
Emerald Heights receives “A-” ranking and $118.7 million in tax-exempt bonds
Announced on Sept. 18, Emerald Heights recently received an A- rating from the Fitch Ratings Agency and $118.7 million in tax-exempt issued bonds.
The bonds were issued by the Washington State Housing Finance Commission.
According to a press release, Emerald Heights’ rating comes from its “healthy” financial profile, the community’s strong market position, high occupancy rates and the room it has for growth opportunities.
While the new debt it has incurred will be used to refund outstanding debt, the additional funds it has received will be used to build a new 42-unit assisted living community and a 54-unit expansion of the Emerald Heights campus.
Blueprint advises investor on sale of The Landing of North Haven
Real estate advisor Blueprint announced it worked with a national investor on the sale of The Landing of North Haven on Sept. 13.
The more than 100 unit assisted living and memory care community had been seeing occupancy stabilization through 2022 when the seller chose to “lock in returns and return capital to investors early in the fund’s life.”
A press release states Inspired Healthcare Capital came out as the winning bidder as the buyer for the community.
JLL Capital Markets arranges $43.2 million in financing for California community
JLL Capital Markets announced on Sept. 20 that it arranged $43.2 million in financing for Varenita of Westlake in Thousand Oaks, California.
JLL represented borrower Westlake Senior Living Center, LLC for the five-year loan.
Varenita of Westlake is a community with 58 assisted living units and 28 memory care units with one-bedroom, two-bedroom and studio living spaces.
Sagora Senior Living expands portfolio with Prestonwood Court
Sagora Senior Living announced it has added Prestonwood Court in Plano, Texas to its portfolio of communities on Sept. 5.
Prestonwood Court offers assisted living and memory care services.
Sagora has a presence in Texas, Alabama, California, Florida, Illinois, Mississippi, Nebraska, New York, North Dakota, Ohio, Oklahoma and West Virginia, and takes a holistic approach to its residents.
1031 Crowdfunding expands into Florida
Real estate investment platform 1031 Crowdfunding expanded its footprint into Florida by adding two properties to its portfolio.
The two communities, The Canopy at Harper Lake and Gold Choice Palm Coast Assisted Living and Memory Care, are located in Lake City and Palm Coast respectively and total 114 units combined.
The communities were acquired for 1031 Crowdfunding’s 10th Delaware Statutory Trust offering.
The Goodman Group adds Legends of Lake Lorraine to management portfolio
The Goodman Group has added the Legends of Lake Lorraine in Sioux Falls, South Dakota, to its management portfolio.
The community marks the 34th community as part of the portfolio across the U.S.
Legends of Lake Lorraine was built in 2017 and offers 151 units of assisted living, independent living and memory care services. The Goodman Group announced it will bring its “Platinum Service” customer service philosophy to the community to increase the quality of life of residences.