Transactions And Financings: Cbre Arranges A Refinancing; Two Spring Arbor Communities Sold

Financings

CBRE arranges refinance

CBRE announced it arranged a refinance for Carlton Senior Living San Leandro in California.

According to a press release, the refinance will allow the company to “reconstitute its original joint venture ownership into a closely held Tenant-in-Common (TIC) ownership structure.”

The community was originally built in 1997 and has a total of 147 units.

Transactions

Standard Communities acquires $1B portfolio

Affordable housing developer and investor Standard Communities announced it recently acquired an affordable housing portfolio valued around $1 billion.

The acquisition consists of over 6,000 apartment homes in 60 communities and will include services for families and seniors, according to a press release.

Standard’s total portfolio now consists of 27,000 apartment homes, and the company is investing $30 million in capital improvements and deferred maintenance.

Continuum Advisors sells New Hampshire CCRC

Continuum Advisors announced its part in selling an 85-unit continuing care retirement community in Meredith, New Hampshire.

The 11 acre campus was built in 2008 and has 18 acres of undeveloped land for additional expansions, according to a press release.

Nonprofit Taylor Community purchased the CCRC for $11 million, plus an additional $10.5 million in resident entrance fee refund liabilities.

SLIB sells final Luther Manor community

Senior Living Investment Brokerage facilitated the sale of the final Luther Manor Home community before it fell to receivership.

According to a press release, the community consists of 118 units and was originally built in 1969.

The selected buyer is a regional owner and operator in Florida.

Blueprint sells memory care community in Dayton

Blueprint announced it sold a 60-unit memory care community in a Dayton, Ohio suburb on Nov. 7.

According to a press release, the community had nearly 100% occupancy when it was being marketed.

Kauhale Health was selected as the buyer.

Two Spring Arbor communities sold

Blueprint announced it was engaged by a national owner and operator to sell two Spring Arbor communities in Richmond, Virginia.

Both communities totaled 118 units combined of assisted living and memory care offerings. The communities were built in 2004 and 2015 respectively.

According to a press release, the communities were purchased by a regional nonprofit owner and operator.

SLIB sells Illinois community

Senior Living Investment Brokerage announced it sold a 46-unit memory care community in Taylorville, Illinois.

According to a press release, the community sits on 4.2 acres and “offers a prime Central Illinois location.”

The seller, a private equity company, sought to divest and redeploy capital. The buyer wanted to expand their Illinois footprint, the release states.

Blueprint sells Phoenix community

Blueprint announced it facilitated the sale of an 89-unit assisted living and memory care community in Phoenix, Arizona.

The community features nine “uniquely designed” homes in a residential setting, according to a press release.

The community was purchased by a regional owner and operator.

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