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Transactions & Financings: Lloyd Jones Ads to Aviva Brand; SLIB Facilitates Flurry of Deals



Lloyd Jones announced it has acquired Hamilton Heights, marking the company’s fourth senior housing purchase since February. The community will operate under Lloyd Jones’ Aviva brand under the banner of AVIVA West Hartford

Hamilton Heights — a 113-unit senior living community in West Hartford Connecticut — was formerly Mount St. Joseph Academy, an all-girls Catholic boarding school. It was converted into an assisted living and memory care community in 1997 and is currently on the National Register of Historic Places.

Miami-based Lloyd Jones announced it has also acquired Trinity Courtyard, a 138-unit active adult community in Fort Worth, Texas in a partnership with ST Real Estate Holdings.

Trinity Courtyard is an age-restricted 55+ active adult community that like Hamilton Heights will be added to the Aviva brand and be operated under the banner AVIVA Fort Worth.

In addition to a re-brand, Lloyd Jones plans to make enhancements to the property that will include new exterior paint, modernized clubhouse interiors and an upgraded technology infrastructure.

Convivial Life Acquires Jacaranda Trace

Convivial Life announced it has acquired assets held by Venice Florida Senior Holdings — commonly known as Jacaranda Trace.

Jacaranda Trace is a Venice, Florida-based senior living community with 240 units and 55 health care units. Along with the senior living units, Convivial purchased an 85,000 square foot clubhouse that includes amenities like a fitness center and an outdoor pool and jacuzzi.

Sarasota, Florida-based LifeStar Living aided in the acquisition for Convivial, marking the second time the two have worked together to acquire a community this year. Convivial acquired The Cabana at Jensen Dunes in Jensen Beach, Florida in February.

Livingston Street Capital announced that one of its affiliates acquired a Class A age-restricted active adult community in a suburb of Philadelphia, bringing the boutique real estate investment firm’s active adult portfolio to more than 1,800 units.

The community, called Canvas at Valley Forge, is located in King of Prussia, Pennsylvania and includes 231 luxury active adult units (147 one-bedroom and 84 two-bedroom) for adults aged 55 years or older.

Located about 20 miles outside of Philadelphia, King of Prussia is known for its retail and dining options including the third largest mall in the United States.


CBRE Arranged JV Financing for Artemis, MorningStar

CBRE National Senior Housing announced that it has arranged more than $33 million in a non-recourse, floating-rate loan the financing of MorningStar of Hillsboro, a senior living community located in Hillsboro, Oregon.

CBRE worked on behalf of a joint venture between real estate investment manager Artemis Real Estate Partners and MorningStar Senior Living to finance the 142-unit independent living community.

CFG Closes $32M Construction Loan

Capital Funding Group announced it has closed a construction loan of $32.9 million for the ground-up development of an assisted living and memory care community in Temecula, California.

As part of the financing, the deal includes a Commercial Property-Assessed Clean Energy structure allowing the owners of the building to borrow money for projects that focus on elements like energy efficiency and renewable energy and then to make repayments via property tax bill assessment.

The community — to be called Varenita of Temecula — will include 108 total units when completed.

CBRE Vice Chairman Aron Will, Senior Vice President Austin Sacco and Senior Vice President Tim Root arranged the financing.

Helios Secures Acquisition Financing for Alabama Portfolio

Helios Healthcare Advisors announced it has successfully arranged financing for a portfolio of Alabama-based assisted living and memory care communities for the Georgia-based real estate investment firm SouthCrop Group.

The portfolio includes 88 total units located in Troy and Enterprise County in Alabama and will be operated by New Jersey-based Distinctive Living.

For SouthCorp Group, the acquisition represents its first foray into the senior living asset class of real estate investing.


Senior Living Investment Brokerage Sells 8-Property Portfolio

Senior Living Investment Brokerage announced the sale of an 8-property senior living portfolio totaling 449 units in the Milwaukee, Wisconsin area.

The portfolio, which averaged 84% occupancy at the time of sale with a range of 65% to 95%, was sold to a Southeastern-based assisted living organization with expansion aspirations in the Midwest.

SLIB’s Jason Punzel, Ryan Saul and Bradley Clousing handled the transition.

SLIB Helps Sell Two in Tennessee

SLIB announced it played a role in selling two assisted living and memory care communities in Tennessee.

The communities, located in Knoxville and Powell, combine for 102 assisted living and memory units and were considered outliers for the private real estate investment trust (REIT) that owned them.

A real estate and asset management firm purchased the communities in a joint venture with an operator that already has a footprint in the area.

SLIB’s Bradley Clousing and Patrick Burke handled the transaction.

SLIB announced it facilitated the sale of a 54-unit luxury memory care community located in Port Orange, Florida.

A private REIT sold the community as part of a strategy to exit from portions of a previous portfolio and the buyer is a regional owner/operator looking to expand its Florida footprint.

Bradley Clousing also handled this sale long with his SLIB colleague Danell Geraghty.

SLIB Facilitates IL Sale in Houston

A 300-unity independent living community in Houston was sold in a deal facilitated by SLIB.

For the seller, the community was a non-core asset as it looks to prioritize its higher-acuity assets.

The buyer, a California-based real estate owner, has hired a third-party company that operates several independent living communities throughout Texas.

SLIB’s Matthew Alley, Vince Viverito, Brad Goodsell and Jason Punzel handled this transaction.

Helios Advisors Structures AL Sale

Helios Advisors announced its role in arranging the sale of a 42-unit assisted living community

in Hersher, Illinois to Petersen Healthcare.

The community was constructed in 2008 on an 8-acre land parcel with a long-term vision that included multifamily housing. Peoria, Illinois-based Petersen Healthcare assumed operations of the community in June of this year.


Northmarq announced that its Seattle office arranged a $39 million permanent financing of Merrill Gardens at Carolina Park, a 158-unit private pay IL, AL and memory care community based in Mt. Pleasant, South Carolina.

The financing was arranged by Northmarq senior vice president Stuart Oswald for the borrower — a joint venture between Merrill Gardens and AEW Senior Housing Investors ILL.

Helios Plays Role in Partnership Buyout, Recap of Senior Living Operator

Helios Health Advisors announced it helped arrange and structure a partnership buyout and recapitalization of an assisted living and memory care provider.

The Evansville, Indiana-based provider operates a 67-unit assisted living and memory care community. In 2019, Helios helped arranged a financing package for expansions and renovations.

Now, with the expansion completed, Helios replaced the construction loan with permanent financing and worked to recapitalize the venture including structuring a buyout of one of the original partners.

Integral Senior Living Assumes Management of Two Communities

Integral Senior Living announced it has assumed the management of two assisted living and memory care communities owned by Investcor, a privately owned real estate development firm in Austin, Texas.

The addition of the two communities, Sage Valley Senior Living in Pflugerville, Texas and Mojave Sage Senior Living in Queen Creek, Arizona are part of ISL’s growing portfolio as the company added four communities in the Mountain West earlier this year.

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