Transactions
JLL Capital Markets leads $28 million refinancing for Texas community
JLL Capital Markets announced that on Oct. 25, it arranged a $28 million senior mortgage for The Landing at Augusta Woods in Spring, Texas.
The four year fixed rate loan will be used to refinance an existing construction loan and fund an expansion for the community.
The Landing at Augusta Woods is comprised of 120 assisted living, independent living and memory care units with 28 to-be-built independent living duplexes.
Financings
KeyBank provides $11.3 million for financing affordable senior housing
KeyBank Community Development Lending and Investment provided $11.3 million to finance the construction of Garrett Square Apartments.
The apartments consist of a 49-unit affordable senior housing project in Cleveland, Ohio.
KeyBank will provide a $9 million construction loan and a $2.3 million permanent loan.
Acquisitions
Innovation Senior Living adds two to assisted living portfolio
Innovation Senior Living has added Savannah Court Bartow and Savannah Court of St. Cloud Community to its portfolio of assisted living communities.
The Winter Park, Florida-based operator is continuing to expand its middle market offerings following the acquisition and are part of the company’s three-year plan to add 12 to 15 properties to its portfolio.
Following the acquisition, the communities are being rebranded to The Club at Bartow and The Club at St. Cloud. The communities can expect renovation, improved healthcare delivery and partnerships.
Companies featured in this article:
Innovation Senior Living, JLL Capital Markets, KeyBank Community Development Lending & Investment
