Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.
Issue link: https://seniorshousingbusiness.epubxp.com/i/799407
Acquisitions www.seniorshousingbusiness.com 23 February/March 2017 n Seniors Housing Business and skilled nursing community. The property consists of two senior living buildings and one skilled nursing building. Built in 1986, the community sits on 17.6 acres of land. Mike Garbers and Cody Tremper of Greystone represented the seller in the transaction. Lancaster Pollard negotiates $30.5 million sale of 146-unit community in Florida Port Orange, Fla. — Lancaster Pollard has arranged the $30.5 mil- lion sale of CountrySide Lakes, a 146-unit independent living and assisted living community in Port Orange, approximately 55 miles northeast of Orlando. Shepherd Health, a Miami-based developer and operator, purchased the property from a private own- ership group. Fifth Third Bank provided a $24 million acquisition loan for the buyer, arranged by the bank's Natasha Ursuy. Built in 1984, CountrySide Lakes offers 26 independent living units and 120 assisted living units in 160,000 square feet. The commu- nity currently has a waiting list and has averaged 97 percent occupancy since 2013. Meridian Capital Group's Ari Adlerstein, Ari Dobkin and Josh Simpson arranged $26.2 million in acquisition financing for Shepherd Health in the transaction. Chad Elliott and Gerald Swiacki of Lancaster Pollard represented the seller in the deal. Monticello Asset Management facilitates $28.5 million mortgage financing for skilled nursing facility in New Jersey Perth Amboy, N.J. — Investment advisor Monticello Asset Manage- ment LLC has originated $28.5 million in financing for The Alam- eda Center for Rehabilitation and Healthcare, a skilled nursing facil- ity in the New York City suburb of Perth Amboy. The bridge-to-HUD loan pro- vided capital for the acquisition of the property by a seniors housing owner-operator. The property consists of an 82,205-square-foot, six-story struc- ture containing the healthcare facil- ity and a detached, 3,400-square- foot, one-story retail building. The facility contains 130 resident rooms and is licensed for 250 skilled nurs- ing beds. CareTrust buys two communities near Milwaukee for $26.1 million Milwaukee — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired two seniors housing communities in the Milwaukee metro area for $26.1 million. The portfolio consists of Apple- wood of Brookfield, a 48-unit as- sisted living and memory care facility in Brookfield, Wis., and Ap- plewood of New Berlin, a 40-unit assisted living and memory care facility located in New Berlin, Wis. CareTrust added the properties to its master lease with New York- based operator Premier Senior Liv- ing LLC. CareTrust funded the acquisition with its $400 million unsecured re- volving credit facility. When you're facing a complicated multifamily financing situation, it's crucial to have a dependable lender on your side. M&T; Realty Capital Corporation has the experience and expertise to understand your business, and our relationship-focused approach ensures the terms we recommend are right for you. These are just some of the reasons 75% of our business comes from repeat borrowers. Get started at learnmore.mandtrcc.com or call 1-800-737-2344. Reliability is important. Equal Housing Lender. Based on internal customer data. All loans and all terms referenced herein are subject to receipt of a complete application, credit approval and other conditions. ©2017 M&T; Realty Capital Corporation. Member FDIC.