VP Tom Papoulias of Coldwell Banker Commercial West arranged the sale of the Seville Gardens Apartment Community, a 225-unit senior housing apartment complex located at 2701 Randolph St. in Huntington Park The transaction closed at $33,750,000. Papoulias represented the seller, Seville Gardens,…
PACE Loan Group closed a $7.1 million PACE Loan on a 134-unit new construction, market-rate senior living facility in St. Francis, Minnesota. The 20-year loan complements a $30 million qualified tax-exempt loan on the project using Series 2023A Bonds with…
Arick Morton Senior housing could be considered an “under-the-radar” commercial real estate sector, especially compared to the more active industrial, retail and multifamily sectors. However, NIC Map Vision’s Senior Housing Outlook report showed that development is behind, which could mean…
First Citizens Bank announced it provided a term loan to refinance GenCare Lifestyle Tacoma at Point Ruston, a 159-unit senior living facility in Washington. The borrower is a joint venture led by Harrison Street, one of the leading investment management…
IRA Capital, an Irvine-based private equity firm, completed the acquisition of Quail Park of Lynnwood, a 253-unit, Class A senior housing property located in Washington. The all-cash acquisition, completed in partnership with an institutional joint-venture partner, includes plans to invest…
Ground lease REIT Safehold, Inc. has closed on a ground lease to facilitate the ground-up development of The Orion, a 166-unit senior affordable community in Orange. Although Safehold did not disclose the terms of the ground lease, published reports valued it…
Chicago-based Evergreen Real Estate Group has completed the Green Oaks of Valparaiso, a three-story, 120-unit assisted living community for low-income seniors in Valparaiso, Indiana. The $30 million project is located at 2550 W. Morthland Drive and includes 48 studio and 72 one-bedroom apartments. Evergreen Construction Company,…
1031 Crowdfunding, a real estate investing platform and sponsor of Delaware Statutory Trusts concentrated in the senior housing sector, launched 1031CF Bridge Fund III, a finance fund with a value-add component that targets commercial real estate assets in the senior…
JLL has arranged financing for Inspira Arrowhead, a newly constructed senior housing asset in Glendale, Arizona. The JLL Capital Markets team was led by Senior Director Alanna Ellis and Associate Alex Sheaffer out of the firm’s Seattle office. JLL worked…
San Diego-based real estate private equity firm Pacifica Companies, LLC completed its acquisition of a 15-community senior living portfolio from Retirement Housing Foundation for $180,500,000. The acquisition was made in stages, with various segments closing in phases throughout late 2022,…
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