Acquisitions
National Church Residences acquires four communities
National Church Residences recently announced the acquisition of four communities in Ohio, expanding its presence in the state. The communities, totaling 206 apartment units, were purchased from Buckeye Management and are located in central and western Ohio. Enhancements and updates were made to ensure ADA compliance and improve common areas, sidewalks, and parking lots.
Clearwater Living expands into Texas
Clearwater Living has entered the Texas market with the acquisition of a luxury assisted living and memory care community in Houston. Formerly known as The Watermark at Houston Heights, the community is now rebranded as Clearwater at The Heights. It offers a range of amenities, including concierge services, multiple dining options, a heated outdoor pool, a salon with spa services, a golf simulator, and fitness rooms.
Management
Anthem Memory Care assumes management of two communities
Anthem Memory Care has taken over the management of Savoy Place in Savoy, Illinois, and Franklin Place in Franklin, Wisconsin. The company is implementing its care approach in these communities through enhanced operations, regional staff additions, and advanced training programs. Anthem now oversees 20 communities and has made its first entry into the Wisconsin market.
SRI Management has added Trinity Hills of Knoxville to its portfolio on May 1, introducing its signature programs to the community. President Todd Filippone expressed excitement about welcoming the community into the SRI Management family and providing superior care and comfort to its residents.
Transactions
Blueprint runs divestiture process for independent Cleveland operator
Blueprint facilitated the sale of a 102-unit independent living community in Cleveland, Ohio, to a private investor in the Northeast. The community, built in the 1980s in a suburb of Cleveland, changed ownership through a strategic divestiture process.
Another transaction involved the sale of a senior living community in Cincinnati, allowing the owner to repurpose capital and pay off existing debts. The community, built in 2013, was acquired by a well-capitalized owner-operator.
Financing
Capital Funding Group closed a $65 million bridge loan for a nine-community portfolio in Ohio, comprising independent living, assisted living, and skilled nursing facilities. This financing, secured on behalf of a nationally recognized borrower, follows the recent closing of a Bridge-to-HUD loan totaling $13.5 million.
1031 Crowdfunding launches bridge fund
1031 Crowdfunding introduced Bridge Fund III, targeting commercial real estate assets in the senior living sector. The fund aims to deliver growth opportunities to investors and address the rising demand for senior housing facilities as the baby boomer generation ages.
JLL Capital Markets arranged funding for Inspira Arrowhead, a new senior housing community in Glendale, Arizona, offering a variety of amenities such as outdoor pool deck, fitness center, game room, beauty salon, memory care areas, and dining options.
