Transactions and Financings: Lloyd Jones Acquires Virginia Community; KeyBank Provides $34.3M Affordable Housing Rehabilitation Funding

Acquisitions

Lloyd Jones acquires Virginia community

Real estate investment firm Llloyd Jones announced it has acquired Brightview Baldwin Park, a community in Staunton, Virginia.

The 136-unit assisted living, independent living and memory care community was purchased from Brightview Senior Living.

Following the acquisition, the community has been rebranded as Aviva Baldwin Park and will be operated under Lloyd Jones’ Aviva brand. Lloyd Jones plans to invest $3.1 million in capital renovations to the community.

Chicago Pacific Founders acquires Florida community

Chicago Pacific Founders announced that it has acquired The Summit of Lakewood Ranch in Lakewood Ranch, Florida.

The community will be managed by Grace Management, Inc.

Chicago Pacific Founders plans to invest in improvements for the community to enhance the quality of life for all stakeholders.

Financings

CBRE arranges refinancing for two communities

CBRE announced it has arranged refinancing for two Belmont Senior Living and Harrison Street communities.

The communities, Belmont Village Senior Living Albany and Belmont Village Senior Living Calabasas.

CBRE arranged the financing through a syndication between national and regional banks.

KeyBank provides $34.3M for rehabilitation of affordable housing

KeyBank Community Development Lending and Investment provided $34.3 million in construction and permanent funding to facilitate the rehabilitation of six low-income apartment buildings in Chicago.

The funding will be used to improve the quality of life of tenants, including new cabinets, countertops, flooring, elevator modernization, upgrades to mechanical, electrical and plumbing systems and replacement of existing roofs, masonry and exterior repairs.

The apartments have 151 units of affordable living for elderly and disabled residents.

Transactions

Plains Commercial sells Pine Bluff Assisted Living

Plains Commercial has announced it has sold Pine Bluff Assisted Living in Pine Bluff, Arkansas.

The 60-bed community used to be a part of the former Davis Life Care Campus and represented the last building on the campus to be reallocated.

The buyer is a regional owner/operator of assisted living facilities with other facilities in the area.

Blueprint executes sale of two skilled nursing facilities

Blueprint has executed on the sale of two skilled nursing facilities in Center Point and Jonesville, Louisiana.

According to a press release, the property bundle consists of 244 beds and has had stable performance.

CommCare was the seller of the facilities, and Omega Healthcare REIT alongside its operator Venza Care was selected as the buyer.

SLIB closes on sale of Minnesota community

Senior Living Investment Brokerage announced it closed on the sale of an independent living, assisted living and memory care community in Mankato, Minnesota.

The 118-unit community was built in 2019.

The seller is looking to use the sale to fuel further investments in senior housing, and the buyer is an out of state private equity group, who will partner with the current operator to run the community.