Lancaster Pollard Secures $7 Million Refinancing for New York Assisted Living Community Lancaster Pollard recently assisted The Lake Shore Assisted Living Home, a 200-unit assisted living community in Lake Ronkonkoma, New York, with a $7 million refinance utilizing the FHA Sec. 232/223(f) program. The Lake Shore Assisted Living Home was searching for a more beneficial long-term debt […]
MBK Senior Living
MBK Senior Living President Terry Howard has resigned from the company to pursue new development opportunities, Senior Housing News has learned. The Irvine, California-based senior living provider owns, operates and develops communities across five states under its parent company, Japan-based Mitsui and Company. “Terry Howard has resigned from MBK Senior Living, and we wish him well […]
RED Capital Group Closes $11.1 Million Refinance for MBK Senior Living RED Mortgage Capital, the proprietary mortgage banking arm of RED Capital Group, LLC, has closed an $11.1 million refinance loan for Chancellor Gardens of Clearfield, an MBK Senior Living-owned and operated community located in Clearfield, Utah. “MBK was seeking a customized product for this […]
American Realty Capital REIT has purchased two senior living properties from MBK Senior Living for a total of $104.5 million, the companies announced last week. The properties are both located in California and have occupancy rates of greater than 98%, with the transaction serving both companies with a “win,” according to CBRE’s Senior Living team, […]
LTC Properties to Buy Skilled Nursing Property for $14.4 Million LTC Properties, Inc. (NYSE:LTC) recently announced an agreement to purchase a 120-bed skilled nursing facility in Trinity, Fla. for $14.4 million. The property was built in 2008 and will be added to a master lease at an incremental initial cash yield of 8.75%. The operator […]
MBK Senior Living Sells Two Properties to Brookdale for $56.1 MIllion Brookdale Senior Living recently purchased two Spokane, Washington properties from MBK Senior Living for $56.1 million. The properties, built between 1999 and 2003, include a combination of assisted living and memory care units, with an additional 20 independent units in one of the […]
REIT Buys N.C. ALF for $9.7 Million in Sale-Leaseback Transaction with Meridian Meridian Senior Living recently sold an assisted living community to Cornerstone Core Properties REIT Inc., an investment fund of Irvine, Calif.-based Cornerstone Real Estate Funds, for $9.7 million in a sale-leaseback transaction, reports The Business Journal. Danby House is a 100-bed, 27,129-square-foot community […]
Irvine, Calif.-based MBK Senior Living recently announced the acquisition of Oakmont Gardens, a senior living community in Santa Rosa, Calif., for an undisclosed amount. Oakmont Gardens offers four newly-remodeled one- or two-bedroom floor plans, with community amenities that include swimming pools, spas, a golf course, tennis, a new fitness center, a library, and lawn bowling. […]
Irvine, Calif.-based owner/operator MBK Senior Living recently closed escrow on a $31.9 million senior living community in Tucson, Ariz. The purchase was made with cash from an undisclosed seller. The Country Club of La Cholla is MBK Senior Living’s first Arizona community, and it is the company’s 15th community. The acquisition adds 223 independent living […]
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