Transactions And Financings: 12 Oaks Acquires 200-unit Community; $46m Construction Loan Awarded To The Edge Sarasota

Transactions

12 Oaks acquires 200-unit community

12 Oaks Senior Living announced its acquisition of West Fork Village, a 201-unit independent living community in Irving, Texas on Dec. 11.

According to a press release, the community has been managed by 12 Oaks since 2018 and is the company’s first owned community in “many years.”

“This step allows us to continue delivering exceptional and affordable service while enhancing the community for its residents. West Fork Village is a shining example of serving the middle market and providing affordable yet high value living for seniors who, in many instances, simply don’t have another alternative,” Greg Puklicz, 12 Oaks president, said in the release.

Hunt Midwest sells Colorado community

Hunt Midwest announced it sold Capstone at Centerra, an assisted living and memory care community in Loveland, Colorado, for $40 million.

According to a press release, the community is Hunt Midwest’s latest senior living development and was completed in 2023. As of closing, the community was at 95% occupancy.

The community was sold to IRA Capital, a California-based private equity firm.

SLIB sells 48-unit community for $2M

Senior Living Investment Brokerage facilitated the sale of English Meadows, a 48-unit assisted living and memory care community on Dec. 16.

According to a press release, the community was built in 2017 and is distributed across three cottages.

The release states the Seller is a private company based in Virginia that develops, owns and manages senior housing communities, and the buyer is a non-senior housing private investor with plans for “an alternative use” of the community.

Blueprint sells community for nonprofit

Blueprint represented a nonprofit organization in the sale of Benedictine Living Community – Wausau on Dec. 17.

According to a press release, the community consists of 82 licensed skilled nursing and long-term care beds.

The Ensign Group was selected as the buyer for the community, who rebranded it to Wood Aven Health and Rehabilitation.

Financings

Centennial Bank provides $46M loan to luxury community

Centennial Bank announced it provided a $46.5 million construction loan to Jebco Edge, LLC to finance the development of The Edge Sarasota.

The community, when completed, will be a luxury 10-story condominium featuring 27 residences, according to a press release. Amenities for the community include “a resort-style pool and spa, a state-of-the-art fitness center, concierge services and climate-controlled private garages.”

“This development represents a new standard for urban luxury living in Sarasota, and our partnership with Jebco Ventures and Omnium Real Estate reflects our shared commitment to excellence and community growth,” Jeffrey Woodin, senior vice president and commercial banking team leader at Centennial Bank, said in the press release.

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