Acquisitions
Real estate investment firm Llloyd Jones has completed the acquisition of Brightview Baldwin Park, a community located in Staunton, Virginia. The 136-unit assisted living, independent living, and memory care community was purchased from Brightview Senior Living and has been rebranded as Aviva Baldwin Park under Lloyd Jones’ management. The firm plans to invest $3.1 million in capital renovations to enhance the community.
Chicago Pacific Founders has also announced the acquisition of The Summit of Lakewood Ranch in Lakewood Ranch, Florida, and plans to improve the community’s amenities and quality of life for all stakeholders.
Financings
CBRE arranges refinancing for two communities
CBRE has facilitated refinancing for two Belmont Senior Living and Harrison Street communities – Belmont Village Senior Living Albany and Belmont Village Senior Living Calabasas. The financing was arranged through a syndication between national and regional banks.
KeyBank provides $34.3M for rehabilitation of affordable housing
KeyBank Community Development Lending and Investment provided $34.3 million in construction and permanent funding to facilitate the rehabilitation of six low-income apartment buildings in Chicago. The funding will be used to enhance the living conditions for elderly and disabled residents.
Transactions
Plains Commercial sells Pine Bluff Assisted Living
Plains Commercial has successfully sold Pine Bluff Assisted Living in Pine Bluff, Arkansas. The buyer is a regional owner/operator of assisted living facilities with other facilities in the area.
Blueprint executes sale of two skilled nursing facilities
Blueprint has executed the sale of two skilled nursing facilities in Center Point and Jonesville, Louisiana. The property bundle consists of 244 beds and has had stable performance. CommCare was the seller of the facilities, and Omega Healthcare REIT alongside its operator Venza Care was selected as the buyer.
Additionally, Senior Living Investment Brokerage closed the sale of an independent living, assisted living, and memory care community in Mankato, Minnesota. The 118-unit community was built in 2019, and the seller is looking to use the sale to fuel further investments in senior housing, with the buyer being an out-of-state private equity group that will partner with the current operator to run the community.
