Bellwether Enterprise provides $36.3M financing for Kentucky Development
Bellwether Enterprise Real Estate Capital Executive Vice President John Powell originated a $36.3 million permanent loan through Fannie Mae’s seniors housing program for the refinancing of Legacy Reserve at Fritz Farm, a senior housing community in Lexington, Kentucky featuring 144 independent living, 33 assisted living and 15 memory care units. The borrower is owner-operator Atlas Senior Living. The loan carries a 12-year term at a fixed rate.
Juniper Communities secures $12.3M refinancing package
Juniper Communities secured a $12.3 million credit facility to refinance the mortgages on two communities in Pennsylvania: Juniper Village at Lebanon, a community in Lebanon with 40 independent living and 83 personal care units; and Juniper Village at Mount Joy, a community with 63 personal care units located in Mount Joy.
The lender is BMO Harris Bank’s Healthcare Real Estate Finance group.
Ohio Living, Village Home and Hospice announce affiliation
Columbus, Ohio-based Ohio Living partnered with Village Home Health and Hospice, based in Cincinnati. Now known as Ohio Living Village Home Health & Hospice, the combined entity will now expand its services to older adults residing in Butler, Clermont, Clinton, Hamilton, Preble and Warren counties.
Lifesprk receives $16.1M investment
Minneapolis-based home care provider Lifesprk secured a $16.1 million investment from Burlingame, California-based private equity firm Virgo Investment Group, sister publication Home Health Care News reports. The funding was in the form of Series A stock.
Lifesprk launched Lifesprk Health in December 2018. Lifesprk Health is focused on delivering primary care services to older adults in home settings including independent living, assisted living and memory care communities.
The funding allows Lifesprk to grow in scale, as well as launch a proprietary ‘electronic life record’ (ELR) platform, which is an electronic health record with additional non-medical information such as social determinants of health, and information on users’ hobbies, interests and goals.
In other Lifesprk news, the company launched Lifesprk GO!!, a transportation service for seniors, in partnership with Envoy America. The program intends to fill gaps for seniors seeking transportation as communities and municipalities have suspended transportation during the Covid-19 pandemic.
Lifesprk GO!! offers trained professionals who will work with seniors to keep them safe, healthy, and socially connected, and are even trained to assist seniors with dementia.
Blueprint closes 5 transactions
Blueprint Healthcare Real Estate Advisors completed the following transactions:
- Director Amy Sitzman and Senior Associate Giancarlo Riso were the sole brokers in the sale of a 60-unit assisted living and memory care community in Dallas. The buyer is a local developer, owner and operator currently expanding its Texas portfolio.
- Executive Managing Directors and co-founders Ben Firestone and Jacob Gehl, Managing Directors Michael Segal and Humair Sabir, Senior Director Alex Florea and Senior Associate Scott Frazier were the sole brokers in the sale of a 207-unit senior housing community in Riverside, California featuring a mix of independent living, assisted living and memory care units.
- Firestone, Segal and Managing Director Dan Mahoney facilitated the sale of a 70-unit assisted living community in Great Falls, Montana.
- Firestone, Segal and Florea brokered the sale of an assisted living and memory care facility near Pittsburgh.
- Sitzman, Mahoney and Senior Associate Blake Bozett were the sole brokers in the sale of a 36-unit, private-pay assisted living community in Kennewick, Washington.
LTC completes $78M Preferred Care portfolio sale
LTC Properties (NYSE: LTC) completed the disposition of its 21-property Preferred Care portfolio including 2,500 beds across Arizona, Colorado, Iowa, Kansas and Texas, for $77.9 million. The transaction generated net proceeds of $44 million, and closed ahead of an anticipated second quarter of 2020 target.
ESI completes $8.5M sale of Colorado memory care community
Evans Senior Investments facilitated the $8.5 million sale of Lakewood Memory Care, a 46-unit memory care facility in Lakewood Colorado.
The buyer is a nonprofit owner-operator with a regionally-focused senior housing portfolio in Colorado.
SLIB facilitates sale of Oregon memory care community
Senior Living Investment Brokerage Managing Director Jason Punzel and Senior Associates Brad Goodsell and Vince Viverito facilitated the sale of a 24-bed memory care community in Beaverton, Oregon.
The seller is a local owner who will be exiting the industry post closing. The buyer is a regional operator with several communities in California and is now expanding into Oregon. The buyer will operate the community via its management company.
Carnegie Capital arranges $15M refinancing
Carnegie Capital Managing Director JD Stettin sourced and structured a $15.1 million refinancing package for an assisted living, memory care and skilled nursing facility in Meridian, Idaho. Proceeds will be used to pay off a maturing construction loan, fund cost overages and establish a new reserve to see the property through stabilization.
The post Transactions & Financings: LTC Completes $78M Preferred Care Sale; Juniper Communities’ $12.3M Refinancing appeared first on Senior Housing News.