Capital Senior Living Corporation (NYSE:CSU), recently announced it has completed the acquisition of four senior living communities in two transactions for a total of about $64.9 million. Located in Indiana and South Carolina, the communities have an aggregate 388 units, consisting of 48 independent living units, 257 assisted living units, and 83 memory care units. […]
Category: Finance & Development
CNL Lifestyle Properties Acquires Colo. Senior Housing Community Senior living real estate investment trust CNL Lifestyle Properties has acquired MorningStar at Dayton Place in Aurora, Colo., for approximately $29.9 million. The senior housing community will continue to be managed by its current operator, MorningStar Senior Living, which currently has 21 properties under management or development […]
Contemporary Healthcare Capital Provides Acquisition Financing Contemporary Healthcare Capital, LLC has provided a $6,850,000 senior mortgage loan, a $1,250,000 mezzanine loan, and a $800,000 preferred equity loan to finance the acquisition of a 120 bed licensed assisted living and memory care facility located in Sumter, S.C. The funds will also be used for the renovation of the […]
A joint venture partnership between LCS and The Westminster Funds has completed financing for Trillium Woods, a planned $161 million continuing care retirement community in Plymouth, Minn. Trillium Woods is the fifth CCRC developed by the joint venture partnership and is one of seven total in the overall portfolio. LCS-Westminster Partnership V LLP began the process […]
A New York-based developer is close to completing the acquisition of a former Sheraton hotel in downtown Fort Myers, Fla. it plans to convert into luxury senior living. Bob MacFarlane, principal of 46 Pittman LLC, dba The Pittman Group, told the News-Press the acquisition is expected to close by Friday, at which point the developer […]
Capital Senior Living Buys Mass. Assisted Living Community Cassidy Turley, a commercial real estate services provider, arranged the sale of a Massachusetts assisted living community to Capital Senior Living for an undisclosed purchase price. The community, Whitcomb House, located in Milford, Mass., includes three interconnected buildings containing 68 total units within 48,565-square-feet. Two of the […]
Capital One Bank Announces $115 Million in Financial Transactions Capital One Bank recently announced it acted as a joint bookrunner for an $85 million, seven-year senior secured term loan to subsidiaries of Parkwood Properties, Inc. and a $30 million revolver loan to Palm Garden Healthcare Holdings, LLC. Parkwood Properties will use the term loan to refinance […]
Healthcare real estate investment trusts are starting to see less upside on senior housing deals as a result of the current interest rate and acquisitions environment, among other factors. Returns on senior housing investments are starting to decline for health care REITs due to rising interest rate that are boosting acquisition costs, analysts predict, yet […]
The market for development and acquisitions among senior housing properties shows no signs of slowing, and even with construction far outpacing post-recession levels, those in the market say there is still ample opportunity, according to a survey by the National Real Estate Investor (NREI). Industry players are anticipating improved fundamentals, according to a fourth quarter […]
A Houston-area continuing care retirement community recently broke ground on a massive $70 million expansion project, adding more than one hundred new units to the existing community along with brand new common areas. The Brazos Towers at Bayou Manor is getting a 14-story addition that will add 84 new one- and two-bedroom independent living apartments, […]
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