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Transactions and Financings: Ziegler Closes on $68.5M for Acts Retirement-Life Communities; Brookdale Secures $179.5M Refinancing

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Financings

JLL Capital Markets leads $179.5M financing for Brookdale

JLL Capital Markets announced on Jan. 9 that it closed on a seven-year fixed rate loan of $179.5 million on behalf of Brookdale.

According to a press release, the loan was done through Fannie Mae, and the proceeds were used to refinance a seven-year tranche of a credit facility Brookdale closed with JLL and Fannie Mae in 2017.

The collateral of the loan consists of 47 properties among 14 states.

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Ziegler closes on $68.5M financing for Acts Retirement-Life Communities

Ziegler announced on Jan. 9 that it has closed on $68.5 million in tax-exempt bonds for Acts Retirement-Life Communities.

The proceeds from the bonds will be used to reimburse a $55 million line of credit for project costs in Delaware and to fund future projects in Delaware and Pennsylvania.

The project costs include upgrades and renovations to residential and healthcare units and common areas.

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Transactions

LTC completes Brookdale portfolio transaction

Real estate investment trust LTC Properties announced the completion of transactions regarding its Brookdale portfolio.

According to a press release, the 35 community portfolio transaction reduces LTC’s revenue concentration from Brookdale by 40%.

The re-leasing and selling of properties has been a “favorable outcome” for LTC, according to Chairman and CEO Wendy Simpson in the release.

SLIB sells Iowa skilled nursing, independent living community

Senior Living Investment Brokerage facilitated the sale of a 40-unit skilled nursing facility and independent living community on Jan.5.

The community, Iowa Mosaic, is located just outside of Davenport, Iowa.

The seller was a local not-for-profit, who sold the community to “ensure the long-term viability of the community,” according to a press release. The buyer was a private owner who has other communities in Iowa.

Blueprint advises non-profit on sale of healthcare campus

Blueprint advised a local non-profit in the sale of Menorah Park, a healthcare campus offering skilled nursing, assisted living, memory care and independent living options.

The campus totaled 1,069 beds for residents.

Outcome Healthcare, a New Jersey-based owner-operator, was selected as the buyer following the transaction process.

SLIB closes on California, Minnesota communities

Senior Living Investment Brokerage announced it closed on three communities, one in California and two in Minnesota, on Jan. 3 and Jan. 2 respectively.

The Villas at San Bernardino in San Bernardino, California, was purchased by an in-state owner-operator looking to expand its footprint in the state.

The Minnesota communities, Sleepy Eye and Maplewood Care, were sold by a local nonprofit to an in-state owner-operator looking to grow its footprint in the space.

JLL Capital Markets leads recapitalization effort for LCB community

JLL Capital Markets announced it led the recapitalization of the Residence at Valley Farm, a LCB Senior Living owned community.

JLL represented the seller, Bridge Investment Group, and procured the buyer in the transaction, Blue Moon Capital Partners.

LCB will be retained as the operating manager of the community.

VIUM Capital closes 39 transactions in 2023

Senior housing lender VIUM Capital announced 2023 was the second most productive year in the firm’s history with 39 transactions.

The transactions totaled $915 million throughout the year, and funded 106 properties in 19 states.

The firm plans to continue its momentum into 2024.

Acquisitions

Sagora Senior Living adds central Florida to portfolio

Sagora Senior Living announced on Jan. 9 that it has added The Harrison of Wildwood, formerly HarborChase of Wildwood, to its portfolio.

According to a press release, the community will continue to serve assisted living and memory care residents with Sagora’s “Resident First programming and services.”

The community offers short-term stays alongside aging in place options.

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