Transactions And Financings: Lifespan Network, Hfam Unite; Berkadia Sells Three Upscale Communities

Transactions

Berkadia sells three upscale communities

Berkadia announced on Dec. 6 that it sold three upscale assisted living and memory care communities in the Chicago and Milwaukee metropolitan areas.

According to a press release, the 306-unit transaction included Heartis of Orland Park, Heartis Village Brookfield and Heartis Village North Shore.

Berkadia represented the seller, a joint venture between Dallas-based Caddis Partners and a private equity real estate fund, the release said. The communities were purchased by a publicly traded real estate investment trust.

Blueprint advises nonprofit on divestiture

Blueprint announced its involvement in advising a nonprofit senior housing provider on the divestiture of a memory care focused community.

According to a press release, the community had less than 30 units and is located between Pennsylvania and Maryland.

The release states the Washington, D.C. metro area-based seller sought to exit ownership of the community. A western Maryland-based owner purchased the community, marking its second in its portfolio.

Partnerships

LifeSpan Network, HFAM unite

Beginning Jan. 1, 2025, senior care provider associations LifeSpan Network and HFAM will be united as one organization.

According to a press release, the two organizations coming together will “redefine how we serve providers, advocate for policy change and elevate care for seniors in our communities.”

According to LifeSpan’s website, it represents more than 400 senior care provider organizations in Maryland and the District of Columbia, including not-for-profit and for-profit facilities.

Commonwealth joins value-based care alliance

Commonwealth Senior Living announced it has joined Serviam Care Network and Curana Health through the Value-Based Care Alliance of Virginia.

According to a press release, the senior living operator’s residents will now have access to in-residence primary care services no matter which insurance they have.

“The Alliance makes it easy for us to fully leverage the benefits of value-based care, making a tangible difference in the lives of those we serve. This collaboration aligns with our Noble Selling Purpose, which is to improve the lives of our residents, their families, and each other,” Michelle Hamilton, chief operating officer at Commonwealth Senior Living, said in the release.

Financings

Capital Funding Group closes on $54M in transactions

Capital Funding Group announced on Dec. 6 it closed on five transactions totaling more than $54 million.

The transactions took place between mid-October and mid-November, a press release said.

The release states the financing is for the support of “six healthcare facilities and two multifamily properties throughout the country and was executed on behalf of nationally recognized borrowers.”

Walker & Dunlop arranges $23.9M construction loan

Walker & Dunlop announced it arranged a $23.9 million construction loan for Emberwood, an affordable senior housing apartment complex in Casa Grande, Arizona.

According to a press release, the complex is to-be built at this time.

Upon completion, the community will have 176 units and be located on 8.2 acres of land.

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