Management
LCS expands partnership with Longview Senior Housing
Life Care Services has expanded its partnership with Longview Senior Housing by becoming the management partner for three additional Longview properties, including The Emerson at St. Peters, Bellingham at West Chester, and Broadway Cityview. This brings the total number of Longview communities managed by LCS to seven.
SRI Management has announced the addition of Pioneer Senior Living at Upland Park to its portfolio of communities. The community offers independent living, assisted living, memory care options, and retirement villas. CEO Don Bishop expressed excitement about fostering strong connections within the Huntsville community through Pioneer Senior Living.
Transactions
ESI sells three-property portfolio
Evans Senior Investments arranged the sale of a three-property portfolio in Ohio, totaling 317 skilled nursing beds and 209 senior housing units. The seller, Mariner Management Group, Inc., aimed to exit the industry.
Forest Health Properties sells skilled nursing portfolio
Forest Health Properties facilitated the sale of a seven-community skilled nursing portfolio across Tampa and Orlando, consisting of 866 beds. The buyer, a regional operator new to the state, sought to enter the Florida market.
Standard Communities makes second investment in Minnesota
Standard Communities acquired a 100% affordable community in Duluth, Minnesota, extending the affordability of the apartments for 30 years. The transaction is valued at $37.14 million.
Financings
CFG closes $23.5M in support financings
Capital Financing Group closed on two bridge loans totaling $23.5 million to support senior housing communities in Florida and Michigan. The loans facilitated the acquisition of Hampton Manor of Brighton and the refinancing of Twin Creeks Assisted Living and Memory Care.
Lument closes on $38M refinancing
Lument completed a $38 million refinancing deal for Carlton Senior Living’s properties in Fremont and San Jose. The loans feature a fixed interest rate, a 10-year term, and 30-year amortization, meeting Carlton’s requirements in a challenging environment.
CFG closes on $17.3M in acquisition funding
Capital Funding Group secured $17.3 million in Bridge-to-HUD financing to acquire three skilled nursing facilities in Massachusetts with a total of 322 beds. The funding was on behalf of a nationally recognized borrower.
