Transactions And Financings: Welltower Acquires Two Communities For $42.7m; Monticelloam Closes On $18m Loan

Transactions

Welltower acquires two communities for $42.7M

Welltower announced it has acquired Heartis Bucks County in Warminster and Heartis Yardley, both in Philadelphia, for a combined $42.7 million.

According to reporting from the Philadelphia Business Journal, both communities have been leased to Legend Senior Living.

Legend now operates 62 communities.

ESI arranges sale of South Dakota community

Evans Senior Investments announced it brokered a deal on a 33-unit assisted living community in South Dakota.

According to a press release, the total cost of the transaction was $4.3 million, or $130,303 per unit.

The community was sold by an institutional owner and operator, and it was purchased by an operator with experience in similar markets. It is the buyer’s first community in the state.

SLIB closes on Wisconsin portfolio

Senior Living Investment Brokerage closed on a two-community portfolio in Wisconsin on Nov. 19.

According to a press release, the portfolio consists of Sage Meadow of Fond du Lac and Sage Meadow of De Pere.

The release states the seller was a private equity group with holdings across the Midwest, and the buyer was a group based in Tennessee with other holdings in Wisconsin looking to grow their portfolio.

JLL sells 28 acre community

JLL Capital Markets announced its involvement in the sale of the Cottages of Aspen in Oakdale, Minnesota.

According to a press release, the community was built in 1991 and renovated in 2008, and had a 95% occupancy rate at the time of the sale.

JLL represented the seller, Podawiltz Development Corporation, the release states.

SLIB sells 156-unit community

Senior Living Investment Brokerage announced it facilitated the sale of Anthology of Olathe in Olathe, Kansas.

According to a press release, the 156-unit independent living, assisted living and memory care community was built in 1978.

The release states the seller is a national owner and operator, and the buyer is an East Coast-based private equity group partnering with a New York-based operator.

SLIB sells five-property Pennsylvania portfolio

Senior Living Investment Brokerage announced it facilitated the sale of a northwestern Pennsylvania portfolio on Dec. 1.

According to a press release, the portfolio consists of 156 independent living and personal care units and 159 skilled nursing beds. At the time of the sale, the communities had a 70.6% occupancy rate.

The release states the portfolio was in receivership and SLIB worked on behalf of the receiver. The buyer is an affiliate of the existing operator.

ESI facilitates $501M sale

Evans Senior Investments announced its involvement in the sale of a 31 community skilled nursing portfolio.

According to a press release, the transaction is “one of the most significant skilled nursing transactions in recent years at nearly $501 million.

The portfolio totals 3,290 licensed beds at an average price of $152,242 per bed.

SLIB closes in Ohio

Senior Living Investment Brokerage sold three assisted living and memory care communities on Nov. 21.

According to a press release, the portfolio consists of Lantern of Madison, Lantern of Chagrin Valley and Lantern of Saybrook. Combined, the portfolio has 220 units of senior living offerings.

The release states the Seller was Mike Flanagan, Receiver and the buyer was an East Coast owner and operator looking to grow its senior housing portfolio in Ohio.

Financings

MonticelloAM closes on $18M loan

MonticelloAM, a multifamily and senior housing lending platform, announced it closed on $18 million in financing for a community in Wisconsin.

According to a press release, the loan was used to refinance the outstanding debt for the borrower to position the community for the United States Department of Housing and Urban Development financing.

The community has 100 assisted living and memory care units.

G Capital ‘lands the plan’ for new client

G Capital Markets announced it closed on a $15 million ABL financing for new client Spyglass Healthcare.

According to a press release, the financing is provided by Texas Capital Bank.

Spyglass Healthcare is based in northern California, the release states.

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