Transactions
Sonida Senior Residing introduced it bought a senior dwelling group situated in Cincinnati, Ohio on Jan. 6.
In response to a press launch, the “upscale and amenitized asset” was accomplished in 2021 however by no means opened resulting from a foreclosures on the development borrower. The group is situated adjoining to Sonida’s present Wellington at North Bend Crossing group, and presents a “distinctive densification” alternative for the corporate.
The acquisition value for the group was $16.3 million, or $198,000 per unit. The acquisition brings Sonida’s whole portfolio to 94 communities.
Masonicare acquires Atria Greenridge Place
Not-for-profit Masonicare introduced it acquired Atria Greenridge Place on Jan. 2.
Now working as Masonicare at Greenridge Place, the group continues to solidify its place in Connecticut, in response to a press launch.
“Masonicare is thrilled to welcome United Methodist Properties and Greenridge Place to our household,” Jon-Paul Venoit, president and CEO of Masonicare, mentioned within the launch. “By uniting beneath the Masonicare title, we strengthen our dedication to accessible, high-quality take care of Connecticut seniors, leveraging the mixed assets and experience of two mission-driven organizations.”
Senior Residing Funding Brokerage introduced it facilitated the sale of Moran Vista Senior Residing, a 131-unit in Spokane, Washington on Jan. 2.
A press launch states the group was initially in-built 1997 and expanded and renovated in 2008.
The vendor was a Pacific Northwest-based proprietor who opted to give attention to the core property in its portfolio The client was a regional proprietor and operator with a portfolio of 20 communities throughout Washington and Arizona.
Blueprint introduced its involvement within the sale of an impartial dwelling, assisted dwelling and reminiscence care group within the Hartford, Connecticut metropolitan space.
In response to a press launch, the group opened in 1998 and “boasted spectacular historic occupancy and money flows.”
The group was finally offered to a regional nonprofit proprietor and operator.
Financings
BWE secures $76M refinance
Nationwide industrial and multifamily mortgage banking firm BWE introduced it secured a $76 million refinance for The Carlisle Naples in Naples, Florida on Jan. 2.
The refinancing was accomplished on behalf of a three way partnership between Harbert Administration Firm and Senior Useful resource Group.
SRG operates the luxurious 350-unity group, which spans over 18 acres.
Ziegler closes on $57M financing for Solar Well being Companies Obligated Group
Ziegler introduced it has closed on a $56.8 million taxable time period mortgage for Solar Well being Companies Obligated Group.
In response to a press launch, the funding will fund the acquisition of Freedom Plaza, a life plan group in Phoenix, Arizona. The group consists of 336 impartial dwelling models, 64 assisted dwelling models, 16 reminiscence care models, and 76 expert nursing beds.
Solar Well being is a nonprofit company that gives housing, well being care and different associated companies, the discharge states.
Mergers
Masonicare, United Methodist Properties merge
On Jan. 2, Masonicare celebrated its formal merger with United Methodist Properties.
In response to a press launch, United Methodist Properties will proceed working beneath the Masonicare model.
“Our alignment with Masonicare is an thrilling alternative to increase our mission and be certain that our residents profit from each UMH and Masonicare’s famend experience in senior dwelling and healthcare companies,” David Lawlor, president and CEO of United Methodist Properties mentioned within the launch. “Beneath the Masonicare title, we signify a collective 280 years of excellence and a shared dedication to the very best requirements of care.”
Ballard Spahr, Lane Powell mix
Authorized corporations Ballard Sphar and Lane Powell have formalized their mixture efficient Jan. 1.
In response to a press launch, the mixed agency will function beneath the Ballard Spahr title and will likely be led by Chair Peter Michaud. Lane Powell’s President Barbara Duffy will serve on the agency’s govt committee.
As a mixed agency, Ballard Spahr has greater than 750 attorneys in 18 places of work throughout the nation.
