Senior Living Dealbook: Ascent Living Extends Portfolio; Capital Funding Group Finances $1.3b In 2024

Transactions

Ascent Living Communities acquires memory care community

Ascent Living Communities added High Plains Crossing to its portfolio.

Following the acquisition, Ascent’s portfolio now comprises more than 750 senior living units providing independent living, assisted living and memory care options.

According to a press release, Ascent will implement its highly focused and proven “Touchpoints Memory Care” programming at the High Plains Crossing community.

Walker and Dunlop closes on two sales

Walker and Dunlop’s seniors housing team completed two sales in January.

According to a press release, the first transaction was completed on behalf of a Georgia-based nonprofit, which sold three skilled nursing facilities totaling 448 beds.

The team also closed the sale of an institutional-owned senior living community in Colorado, which was acquired by a Colorado-based real estate investment trust.

Blueprint sells 180-bed California SNF interest

Blueprint was engaged by an international bank to sell its interest in a 180-bed skilled nursing facility in Northern California.

According to a press release, the mortgage on the facility was in default despite strong historical performance and occupancy.

The release states an experienced California-based owner and operator was ultimately selected as the buyer of the note.

ESI brings buyer to New Jersey

Evans Senior Investments announced it brought a new buyer to New Jersey with the sale of The Heritage Assisted Living in Hammonton.

A press release states ESI was brought on by the independent owner and lender in order to maximize the value of the property.

An East Coast owner and operator was selected as the buyer for the community, marking the operator’s first location in the state.

SLIB sells New York community

Senior Living Investment Brokerage announced it sold an assisted living and memory care community in Rochester, New York.

A press release states the community was built in 2016 and consists of 78 units.

The seller is a public, non-listed real estate investment trust focused on seniors housing properties throughout the United States, and the buyer is a private real estate investment company that is engaging a New York-based operator, the release said.

Financings

Capital Funding Group finances $1.3B in 2024

Capital Funding Group announced throughout 2024, the company was able to execute and arrange more than $1.3 billion throughout 2024.

A press release states the group was able to close 68 bridge and HUD loans deals over the course of the year.

The largest deal was a $207.1 million bridge-to-HUD term loan used to buyout a portfolio consisting of 13 skilled nursing facilities.

Walker and Dunlop arranges $25.9M financing

Walker and Dunlop announced it arranged $25.9M in permanent financing for Rivertown Ridge in Grand Rapids, Michigan.

According to a press release, the Walker and Dunlop team partnered with Inner Circle Holdings to structure the 10-year, fixed-rate Fannie Mae loan with three years of interest-only payments to Redstone Group Management Inc.

Rivertown Ridge is a 152-unit senior housing community that was built in 2019.

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