Seniors Housing Business

APR 2018

Seniors Housing Business is the magazine that helps you navigate the evolution of the seniors housing industry.

Issue link: https://seniorshousingbusiness.epubxp.com/i/975294

Contents of this Issue

Navigation

Page 21 of 48

Acquisitions www.seniorshousingbusiness.com 21 April 2018 n Seniors Housing Business operator looking to leave the sector. The REIT will lease the facility to a large regional operator that already has a relationship with the new owner. Avison Young's Jim Kornick and Dan Baker represented the seller in the deal. The new owner plans to invest millions in capital improve- ments to attract more residents. According to Avison Young, the community sold at $1 million over asking price despite negative net operating income, thanks to its high rating and partnership with Inova Health Systems. CBRE arranges $20.9 million acquisition financing for 124-unit community near Houston Cypress, Texas — CBRE has ar- ranged $20.9 million in financing for the acquisition of Park Creek, a 124-unit independent living com- munity in the Houston suburb of Cypress. The borrower was a joint venture between Capitol Seniors Housing and The Carlyle Group. Civitas Senior Living will operate the com- munity. Aron Will of CBRE National Se- nior Housing arranged the financ- ing. Blueprint negotiates $12 million sale of 120-bed skilled nursing facility near Tampa Pinellas Park, Fla. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Signature HealthCARE of Pinellas Park, a 120-bed skilled nursing facility in the Tampa suburb of Pinellas Park. The seller was a publicly traded REIT. A high-net-worth investor acquired the property for $12 mil- lion, or $100,000 per bed. The facility was built in 1983 and renovated in 2009. It is located near a major hospital. Trent Gherardini, Michael Segal and Ben Firestone led the Blueprint team. ESI brokers $7.2 million sale of skilled nursing facility in Pennsylvania Bloomsburg, Pa. — Evans Senior Investments has arranged the sale of Bloomsburg Rehab & Wellness Center, a 66-bed skilled nursing fa- cility, for $7.2 million. The property is located in Bloomsburg, which is in Central Pennsylvania along the Susque- hanna River. Greystone arranges sale of three-property memory care portfolio in Texas Garland, Grapevine and McKin- ney, Texas — Greystone Real Estate Advisors has arranged the sale of the Grand Brook portfolio, which included three Class A memory care communities in the Dallas- Fort Worth Metroplex. Invesque Inc. purchased the 114- unit portfolio from an institutional private equity group. Cody Trem- per and Mike Garbers of Greystone represented the seller in the trans- action. Developed between 2004 and 2006, the Grand Brook communi- ties are located in the Texas munici- palities of Garland, Grapevine and McKinney. FUNDED TO FROM START November 2017 Private Owner/Operator $6 Million Bridge-to-HUD Loan Capital Funding, LLC December 2017 Private Owner/Operator $25.5 Million Bridge-to-HUD Loan Capital Funding, LLC December 2017 Private Owner/Operator $23 Million HUD Refinance Capital Funding, LLC October 2017 Private Owner/Operator $31.2 Million HUD Loan Capital Finance, LLC December 2017 Private Owner/Operator $3 Million Working Capital Line of Credit Capital Finance, LLC January 2018 New Jersey Skilled Nursing Facility $21 Million HUD Refinance Capital Funding, LLC Capital Finance, LLC Jeffrey Stein, Executive Managing Director | 410.513.8736 | jstein@capfundinc.com Capital Funding, LLC Erik Howard, Managing Director | 410.513.8728 | ehoward@capfundinc.com Capital Funding, LLC and Capital Finance, LLC are wholly-owned subsidiaries of CFG Community Bank. CFG Capital Markets, LLC: Member FINRA/SIPC

Articles in this issue

Links on this page

Archives of this issue

view archives of Seniors Housing Business - APR 2018