Management
LCS expands partnership with Longview Senior Housing
Life Care Services announced on Aug. 1 that it has expanded its partnership with Longview Senior Housing after being selected as the management partner for three more Longview properties.
According to a press release, the communities include The Emerson at St. Peters, Bellingham at West Chester and Broadway Cityview.
LCS now manages seven Longview communities.
SRI Management adds Alabama community
SRI Management announced it has added Pioneer Senior Living at Upland Park to its offerings of communities.
The community offers independent living, assisted living, and memory care options and 24 beautifully designed retirement villas, according to a press release, and is a Nicol Investment Company owned property.
“Huntsville is a vibrant and growing area, and we are excited to foster strong connections within the community,” Don Bishop, CEO of SR Companies, said in the release. “Our goal is to ensure that Pioneer Senior Living is not just a place to live, but a true community where residents can engage and thrive.”
Transactions
ESI sells three property portfolio
Evans Senior Investments announced it arranged the sale of a three property portfolio in Ohio on July 29.
According to a press release, the portfolio has a total of 317 licensed skilled nursing beds and 209 senior housing units.
The seller was Mariner Management Group, Inc., an independent owner and operator seeking to exit the industry.
Forest Health Properties sells skilled nursing portfolio
Forest Health Properties facilitated the sale of a seven-community skilled nursing portfolio on July 25.
According to a press release, the portfolio consists of 866 beds and spans Tampa and Orlando.
The release states the buyer is new to the state but a regional operator in Georgia and North Carolina who was looking to enter the Florida market.
Standard Communities makes second investment in Minnesota
Standard Communities, a multifamily housing investor and developer, announced on Aug. 5 it acquired a 100% affordable community in Duluth, Minnesota.
According to a press release, Standard Communities will extend the affordability of the apartments for 30 years.
The transaction is capitalized at $37.14 million.
Financings
CFG closes $23.5M in support financings
Capital Financing Group announced it closed on two bridge loans totaling $23.5 million to support two senior housing communities in Florida and Michigan.
According to a press release, one loan was completed July 22 and was used to facilitate the acquisition of Hampton Manor of Brighton.
The other loan was closed June 27 and was used to refinance Twin Creeks Assisted Living and Memory Care.
Lument closes on $38M refinancing
Lument announced it closed on a $38 million for Carlton Senior Living to refinance two properties.
According to a press release, the properties are located in Fremont and San Jose and both loans feature a fixed interest rate, a 10-year term and 30-year amortization.
“Timely and efficient collaboration led to a great outcome for Carlton. We were able to get the requested interest only terms and meet their timeline in a challenging environment,” Casey Moore, Lument managing director, said in the release.
CFG closes on $17.3M in acquisition funding
Capital Funding Group announced it closed on $17.3 million in Bridge-to-HUD financing for the purpose of acquiring three skilled nursing facilities in Massachusetts.
According to a press release, the facilities support 322 beds.
The financing was completed on behalf of a nationally recognized borrower.
Companies featured in this article:
Capital Financing Group, Evans Senior Investments, Forest Health Properties, Life Care Services, Lument, SRI Management, Standard Communities
