Transactions and Financings: PointClickCare Acquires American HealthTech; Anthem Adds Two Communities

Acquisitions

Foundry Commercial acquires The Village at Keizer Ridge

Real estate and investment firm Foundry has expanded its senior housing portfolio through the acquisition of The Village at Keizer Ridge.

Following the acquisition, Foundry now owns 30 senior living communities with a total of 1,900 units alongside operating 57 communities.

The Village at Keizer Ridge will now be operated by Foundry’s regional partner Cascadia Senior Living.

PointClickCare acquires American HealthTech

Healthcare technology platform PointClickCare Technologies announced on Jan. 16 that it has acquired American HealthTech.

American HealthTech is a subsidiary of Computer Programs and Systems, Inc. (NASDAQ: CPSI) and is a “leading provider” of electronic health record solutions and related services for the post-acute care market.

Following the acquisition, American HealthTech’s customer base will have access to the industry’s dataset and join PointClickCare’s “vision of transforming the senior care ecosystem” through creating a connected care network.

Transactions

JLL leads recapitalization for The Residence at Valley Farm

JLL Capital Markets announced on Jan. 9 that it arranged the recapitalization transaction of the Residence at Valley Farm.

The community is owned by Bridge Investment Group and LCB Senior Living.

JLL Capital Markets represented the seller, Bridge Investment Group, and procured the buyer, Blue Moon Capital Partners. LCB Senior Living will remain as the operating manager of the community.

Ziegler advises on sale of Cedar Community Elkhart Lake

Ziegler announced its role as the exclusive financial advisor on the sale of Cedar Community Elkhart Lake on Jan. 17.

The community consists of 67 units and is located in Elkhart Lake, Wisconsin.

The property was purchased by Matter Development and it will be operated by Koru Health.

Financings

Ziegler closes $10.5M for Jacaranda Terrace

Specialty investment bank Ziegler announced it closed on $10.5 million in senior living revenue bonds for Jacaranda Terrace.

The community is part of a multi-phase master-developed campus in Venice, Florida.

Proceeds from the bond will be used to reimburse Jacaranda Terrace for improvements made to the community since its acquisition, and the bond will mature in 2057.

Bayview PACE closes on $6M for Colorado senior living community

Bayview PACE announced it closed on $6 million in C-PACE financing for improvements for the Mesa Verde senior living community in Durango, Colorado.

According to a press release the funding will be used for primary building systems, including HVAC, electrical, roofing and plumbing.

Mesa Verde is a 124-unit assisted living and memory care community.

Management

Anthem Memory Care assumes management of two communities

Anthem Memory Care has assumed the management of communities Clear Lake in Fayetteville, Arkansas and Concord Place in Knoxville, Tennessee.

The agreements bring Anthem Memory Care’s portfolio to 19 and is the operator’s entry into Tennessee.

According to a press release, Anthem Memory Care will add regional staff, technologies and training programs to “adapt the communities to its approach to care.”