Transactions
MedCore acquires two communities
MedCore Partners recently announced the successful acquisition of two senior living communities in Detroit, Michigan.
This strategic investment expands MedCore’s seniors housing portfolio to nine states and 22 assets, totaling approximately 2,700 beds. The acquisition was completed in collaboration with REDICO/American House, with American House taking over operations of the communities.
Additionally, Blueprint facilitated the sale of a 50-bed inpatient transitional care facility in Las Cruces, New Mexico. A buyer known for their strong execution certainty was chosen to take over the facility, which features 50 beds and was constructed in 2017.
Management
Tutera Senior Living and Health Care has announced their management of The Lumiere of Chesterfield in Chesterfield, Missouri. Set to open this spring, the upscale community will offer 150 apartments, including independent living, assisted living, and memory care units. Through a partnership with Shelbourne Healthcare Development Group, Tutera now manages a total of 65 communities.
Financings
Capital Funding Group closes on $20M refinancing
Capital Funding Group has successfully closed a $20 million Bridge-to-HUD loan for a nationally recognized borrower. The loan will be utilized for the refinancing of a 125-unit skilled nursing facility in Maryland. This achievement comes on the heels of CFG’s recent closing on a $65 million bridge loan for a nine-community portfolio in Ohio.
