Acquisitions
Private equity firm IRA Capital has announced the acquisition of the 140-unit San Clemente Villas by the Sea for $41 million. The firm plans to invest additional funds to enhance the senior living experience at the community. MBK Senior Living will oversee the operations and capital improvement plan of Clemente Villas by the Sea.
Asbury Communities acquires two communities
Asbury Communities has expanded its portfolio with the acquisition of Grace Park in Stroudsburg, Pennsylvania and Ivy Gables in Wilmington, Delaware, bringing the total number of communities in its portfolio to 11.
Asbury President and CEO Doug Leidig looks forward to the collaboration, as the increase in senior living organizations partnering and collaborating has been a positive trend in the industry.
Transactions
SLIB facilitates sale of 491-bed skilled nursing portfolio
The sale of the Lancaster Portfolio, consisting of three skilled nursing communities totaling 491 beds, was facilitated by the Senior Living Investment Brokerage. The buyer was Alta Rehab out of Lincolnwood, Illinois.
Financings
JLL Capital Markets arranges acquisition financing for three properties
JLL Capital Markets facilitated the acquisition financing of three independent living, assisted living, and memory care communities in the Minneapolis-St. Paul metropolitan area, totaling 321 units.
Carnegie Capital closes on financing for 120-unit in DFW metro
Carnegie Capital closed on an $8 million loan for a 120-unit assisted living, memory care, and skilled nursing community in the Dallas-Fort Worth metro area, with plans for a $9 million conversion to include additional assisted living and memory care units.
BWE secures $26 million for four communities
BWE completed four financings totaling $26 million, which will be used to refinance, build, and preserve communities in California, Massachusetts, Ohio, and Florida.
Ziegler has closed on $76.9 million in bonds for life plan community Williamsburg Landing, which will be used to fund an expansion, adding homes, apartments, and a community center.
Management
United Church Homes Management assumes management of six communities
United Church Homes Management has taken over management of six communities previously under St. Mary Development Corporation. The Dayton, Ohio communities include Hoover Cottages, Lofts at Hoover, Lyons Place I, Lyons II, McBride Place, and Twin Towers Place. United Church Homes also has five communities of its own in the Dayton area.
