Acquisitions
Foundry Commercial acquires The Village at Keizer Ridge
Real estate and investment firm Foundry has expanded its senior housing portfolio through the acquisition of The Village at Keizer Ridge. The acquisition brings the total number of senior living communities owned by Foundry to 30, with a combined total of 1,900 units, while also operating 57 communities. The Village at Keizer Ridge will now be operated by Foundry’s regional partner Cascadia Senior Living.
PointClickCare acquires American HealthTech
Healthcare technology platform PointClickCare Technologies recently announced its acquisition of American HealthTech, a leading provider of electronic health record solutions and services for the post-acute care market. With this acquisition, American HealthTech’s customer base will have access to PointClickCare’s industry dataset and be part of its vision for transforming the senior care ecosystem.
Transactions
JLL leads recapitalization for The Residence at Valley Farm
JLL Capital Markets facilitated the recapitalization transaction for The Residence at Valley Farm, currently owned by Bridge Investment Group and LCB Senior Living. Following the transaction, Blue Moon Capital Partners has acquired the property, with LCB Senior Living remaining as the operating manager.
Ziegler also played a role as the exclusive financial advisor for the sale of Cedar Community Elkhart Lake, a 67-unit community located in Elkhart Lake, Wisconsin. The property has been purchased by Matter Development and will be operated by Koru Health.
Financings
Ziegler closes $10.5M for Jacaranda Terrace
Specialty investment bank Ziegler has closed on $10.5 million in senior living revenue bonds for Jacaranda Terrace, a community in a multi-phase master-developed campus in Venice, Florida. The funds from the bond will be used for reimbursing Jacaranda Terrace for community improvements and will mature in 2057.
Bayview PACE has also announced a $6 million C-PACE financing for improvements for the Mesa Verde senior living community in Durango, Colorado, focusing on primary building systems such as HVAC, electrical, roofing, and plumbing for the 124-unit assisted living and memory care community.
Management
Anthem Memory Care assumes management of two communities
Anthem Memory Care has taken over the management of Clear Lake in Fayetteville, Arkansas, and Concord Place in Knoxville, Tennessee. This brings Anthem Memory Care’s portfolio to 19 communities and marks the operator’s entry into Tennessee. The company plans to introduce regional staff, technologies, and training programs to adapt the communities to its approach to care.
