Transactions and financing: NIC acquires the VisionLTC data platform; Atlas extends its footprint

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The National Investment Center for Seniors Housing & Care (NIC) strengthens its data analysis platform.

The industry group announced this week the acquisition of VisionLTC, a data analytics platform based in Raleigh, North Carolina. The platform will be integrated with the group’s NIC MAP data service to create a new platform, NIC MAP Vision.

The merged platform will be led by VisionLTC CEO Arick R. Morton.

Sales and operator transitions

Cushman & Wakefield Senior Housing Capital Markets Vice President Rick Swartz, Executive Managing Director Jay Wagner, Managing Director Aaron Rosenzweig and Director Dan Baker Close $ 25 Million Off-Market Sale of 99 Unit Memory Care Community and 114 beds in a suburb of Portland, Oregon. The seller was a private national operator based in California. The buyer is a growing regional owner / operator based in the Portland market.

Vitality Living assumes the management of 3 communities

Vitality Living has assumed the management of three communities: Vitality Living Pleasant Hills in Little Rock, Arkansas; Vitality Living Village in Oklahoma City, Oklahoma; and Vitality Living Shadow Hills in Lubbock, Texas. The transitions mark Vitality’s entry into Arkansas and Oklahoma, and extend its footprint in Texas to three communities.

Atlas Senior Living adds 3 communities to its portfolio

Atlas Senior Living has assumed the management of two communities in Florida: the Atrium in Boca Raton, an assisted living facility and a memory care facility in Boca Raton; and Lake Howard Heights, a community in Winter Haven offering independent and assisted living. The management transition brings the total number of Atlas communities in the Sunshine State to five.

Atlas also assumed ownership and operation of The Goldton in Southaven, an assisted living and memory care facility in Southaven, Mississippi. This brings the total portfolio of communities owned and / or managed by the Birmingham, Alabama-based company across seven states to 31, as well as one community under construction in Texas.

1031 Crowdfunding acquires an assisted living facility in Idaho for $ 11 million

A subsidiary of 1031 Crowdfunding has completed the $ 11 million acquisition of Aspen Valley Senior Living, a community of 80 beds and 66 assisted living and memory care units in Boise, Idaho. The facility is operated by Compass Senior Living.

Recommended SHN + exclusives

New York-based real estate investor Bluestone Group has acquired Imperial Plaza, a senior housing community in Richmond, Virginia, for $ 75 million, reports Richmond BizSense. Bluestone acquired the property as part of a joint venture with Brentwood Investment Group.

The new owners plan to renovate the property and rename it Legacy to Imperial Village, an active adult community.

SLIB brokers 3 sales

Senior Living Investment Brokerage has carried out the following transactions:

  • General Managers Brad Clousing and Daniel Geraghty facilitated the sale of Amber Glen, a 46 unit assisted living and memory care facility in Gainesville, Georgia. The seller was a tenant in co-ownership. The buyer, a qualified nursing owner / operator, is looking to expand their assisted living footprint in Georgia.
  • Clousing, Geraghty, and General Manager Jeff Binder were the only brokers in the sale of Brookdale Muscle Shoals, a 42-unit community in Muscle Shoals, Alabama, offering assisted living and special care services. The buyer is a local partnership between an individual investor and an operator.
  • Clousing and Vice President Dave Balow managed the sale of Colonial Place Assisted Living and Memory Care, a 70-unit facility – of which 21 are memory care – in Elkins, West Virginia. The seller is an out-of-state private equity group looking to get out of the community because it was an outlier in their senior housing portfolio. The buyer is a local not-for-profit trained nursing operator, looking to expand their level of care.

LCB Senior Living Acquires Massachusetts Retirement Home to Convert into Assisted Living

LCB Senior Living has acquired Wingate at Norton, a skilled nursing facility in Norton, Massachusetts, the Sun Chronicle reports. The operator, also based in Norton, has renamed the community as The Residence at Great Woods and will reposition it as an assisted living facility.

Foundry Commercial has acquired Beach House Assisted Living & Memory Care, a senior housing community in Jacksonville Beach, Florida, comprising 64 assisted living units and 20 memory care units. This is the first transaction in Florida under the foundry’s new real estate joint venture with alternative asset manager, Fundamental Advisors, which provided the joint venture’s capital for the acquisition in partnership with Scribner Capital. . Senior Living Investment Brokerage Managing Directors Brad Clousing, Jeff Binder and Matthew Alley were the only brokers in the transaction.

HDG supports the management of 2 communities in Wisconsin

Health Dimensions Group has taken over the operation of two former Brookdale Senior Living (NYSE »BKD) facilities in Wisconsin: Brookdale Appleton, an assisted living and memory care facility in Appleton; and Brookdale. Stevens Point, a community in Stevens Point offering independent living, assisted living and memory care. The communities were renamed Dimensions Living Appleton and Dimensions Living Stevens Point.

Berkadia closes $ 15 million Florida sale

Tim Cobb, Head of Investment Sales at Berkadia Seniors Housing & Healthcare Group, and Associate Director Brooks Minford complete the $ 15 million sale of The Willows of Wildwood, a community of 126 supportive and care homes of memory in Oxford, Florida.

Funding

PGIM Real Estate carries out 2 financing arrangements for serviced residences totaling $ 33 million

PGIM Real Estate has carried out the following financial arrangements:

  • Executive Director Chris Fenton, Vice President Corley Audorff, Production Manager Catherine Eby and Senior Investment Partner Josh Williams have completed a $ 21.9 million refinancing program on behalf of a non-profit borrower lucrative, 238-unit assisted living and nursing facility in Connecticut.
  • Audorff and Williams have finalized a $ 10.9 million refinancing program for a 141-bed assisted living, memory care, and specialty nursing facility in Oregon. The loan included repayment to the borrower for renovations already made.

KeyBank completes $ 17 million refinancing program for Bickford Senior Living

KeyBank Real Estate Capital (KBREC) has secured $ 17 million in fixed rate loans from the Federal Housing Administration for Bickford Senior Living, to refinance two healthcare properties in Iowa: Bickford of Davenport and Bickford of Marion. Bickford in Davenport has 42 beds – 35 for assisted living and seven for memory care. Bickford of Marion has 38 beds – 31 for assisted living and seven for memory care.

The loan, which was entered into using the US Department of Housing and Urban Development’s 232/223 (f) mortgage insurance program, is structured with a full amortization period of 35 years.

Berkadia finalizes a $ 5 million refinancing

Berkadia Seniors Housing & Healthcare Group general manager Ed Williams has secured $ 5.16 million for 36 memory-care units contained in six six-unit residential homes located in two counties in central Florida. Berkadia treated the transaction as a scattered site loan under HUD’s 232/223 (f) program.

Twain Financial Partners Provides $ 14 Million Ground Lease Financing for Louisiana Seniors Apartments

Twain Financial Partners has entered into a $ 14.5 million land lease financing program for the Villages of Imperial Pointe, a four-story, 129-unit seniors’ apartment community in Lake Charles, Louisiana. The community is part of a larger healthcare campus, the Imperial Pointe Medical Center.

The profits will be used for the construction of the project. BridgeView Realty Capital will serve as the owner’s representative, turnkey developer and construction manager for the project.

Outlook Notes

Fitch awards Plymouth Place ‘BB +’ rating

Fitch Ratings has assigned a “BB +” rating of $ 23.96 million to the Series 2021A Income Repayment Bonds issued by the Illinois Finance Authority and to be issued on behalf of Plymouth Place, a community of life plans at La Grange, Illinois.

Fitch also confirmed the “BB +” rating on $ 24.8 million of Series 2013 Income Repayment Bonds and $ 53.7 million of Series 2015 Income Bonds issued by the Illinois Finance Authority on behalf of from Plymouth Place. The rating outlook is stable.

Various

iN2L receives strategic growth investment from Vista Equity Partners

Senior living technology provider iN2L has received a strategic investment from Vista Equity Partners, a global technology investor focused on enterprise software, data and technology companies.

The capital will help iN2L expand and accelerate its mission to impact the lives of seniors through cutting-edge technological engagement solutions. Existing investors in iN2L, healthcare venture capitalist Hughes & Company and healthcare strategic investment firm, Chicago Pacific Founders, will continue to be minority investors in the company. .

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