Management

Legend Senior Living increases portfolio to 59

Legend Senior Living announced it has assumed the management of four senior living communities in Florida, bringing its total portfolio up to 59.

The communities were previously managed by Harbor Chase and have been renamed to The Gables.

The new communities further expand Legend’s footprint within Tallahassee, Palm Harbor, Gainesville and Jacksonville.

Transactions

Buckner Retirement Services acquires Fort Worth community

Nonprofit senior living provider Buckner Retirement Services announced it has acquired The Stayton at Museum Way in Fort Worth, Texas for $81 million.

According to a press release, the community was acquired from Lifespace Communities and has been renamed to The Stayton at Museum Way by Buckner.

The release states the community will remain a class one continuing care retirement community, offering levels of living and care as residents’ needs change.

Walker and Dunlop closes on Magnolia Springs Portfolio

Walker and Dunlop announced the closing of the Magnolia Springs Portfolio, which consisted of seven communities across Ohio, Kentucky and Indiana.

According to a press release, the Seller was an institutional owner-operator while the buyer was a publicly traded REIT.

The portfolio consists of around 700 units, and the buyer has plans to “invest in the physical plant” of each community.

SLIB sells 50-unit community

Senior Living Investment Brokerage announced it facilitated the sale of a 50-unity assisted living and memory care community, located in Mercer Island, Washington.

According to a press release, the community was built in 1990.

The release states the seller was a private real estate fund, and the buyer is a Northwest-based owner and operator looking to expand its portfolio in Washington.

Financings

Berkadia secures $17.6M for affordable housing

Berkadia announced on June 5 it secured $17.6 million for the financing and preservation of Jesse Jackson Jr. Senior Housing, a 120-unit affordable housing property in Harvey, Illinois.

According to a press release, the project will consist of 120 one-bedroom units serving seniors aged 62 and above, with 114 of the units set aside for persons whose income is at or below 50% area median income.

The project will see renovations to a variety of areas, including roofing, windows, flooring, kitchen and bathroom fixtures and more.

JLL secures refinancing for New Mexico community

JLL Capital Markets announced it arranged the refinancing for Fairwinds Rio Rancho, an independent living and assisted living community in New Mexico.

According to a press release, JLL represented the borrower and secured a five-year fixed-rate loan through a life insurance company.

The release states the property features lounges, a theater, laundry facilities and outside patio areas and gardens.