Transactions
Blueprint advises sale of Anthology Senior Living Community
Blueprint advised the sale of a 101-unit Anthology Senior Living Community in the Cincinnati, Ohio metro on Oct. 3.
The community opened in 2017 and was sold to Community First Solution, a regional not-for-profit.
The sale of the community was to recycle capital, and Blueprint helped “maximize value” on the existing real estate and an expansion which “no longer fit their collective capital deployment plan.”
Blueprint facilitates marketing and sale of skilled nursing facility
Blueprint was engaged with the marketing and sale of a 128-unit skilled nursing facility with the intent to convert it to housing.
Blueprint was brought in by a New York-based real estate firm for the transaction, and the Housing Assistance Corporation of Cape Cod produced the winning bid.
CBRE arranges acquisition financing for Cascade portfolio
CBRE arranged a Freddie Mac assumption for the Cascade portfolio on Oct. 3.
The portfolio consists of five senior housing communities located in suburban Oregon markets.
According to a press release, this is CBRE’s second financing of the portfolio following arranging acquisition financing in 2016.
Frontier Senior Living will remain in place as the portfolio manager, who has managed it since 2012.
Financings
HUD awards $160.1 million for senior housing providers
The Department of Housing and Urban Development awarded $160.1 million in grants to senior housing providers.
Of the 25 recipients, 11 are LeadingAge members, receiving $83 million.
The funding for the new Section 202 Housing for the Elderly program will bring 1,262 homes online and leverage funding for an additional 526.
Additions
SRI Management adds Vineyard Bluffton to senior housing portfolio
SRI Management has announced the addition of Vineyard Bluffton to its senior housing portfolio on Oct. 2.
The addition was completed in conjunction with Bourne Financial Group and adds 63 assisted living and 32 memory care units to SRI Management.
The Bluffton, South Carolina community is the sixth for SRI Management in the state, with five being operational and one under development.
Management
Summit View Senior Community under new management
Charter Senior Living has taken over the management of Chattanooga, Tennessee-based Summit View Senior Community.
Alongside the management announcement, the community is also being rebranded as Charter Senior Living of Chattanooga.
Future renovations and upgrades are being planned for the community, according to a press release.
Companies featured in this article:
Blueprint, CBRE, Charter Senior Living, HUD, LeadingAge, SRI Management LLC
