Specialty investment bank Ziegler announced it closed on $58,240,000 Series 2021A, Series 2021B and 2021 taxable loan for a James City County, Va.-based continuing care retirement community.
The community consists of 181 independent living units, 14 assisted living units, 18 memory support units and 22 skilled nursing beds and sits on a 105-acre campus.
Virginia United Methodist Homes, doing business as (DBA) Pinnacle Living, is a not-for-profit corporation which was incorporated in 2003, and owns and operates the WindsorMeade Williamsburg. The community sits on a 105-acre campus with fourteen assisted living units, eighteen memory support units, twenty-two Medicare-certified skilled nursing beds and 181 independent living units.
The 2021 financing will be used to refinance existing debt obligations, finance approximately $3 million capital expenditures at the community, fund a debt service reserve fund for the Series2021A Bonds, and more.
Blueprint Helps Sale of 120-bed SNF in Ohio
Blueprint earlier this month helped in the sale of a 120-bed skilled nursing facility near John Carroll University in Cleveland, Ohio.
Built in the 1960s and renovated in the 1990s, the facility was identified for dispositions because it did not fit with the seller’s core operating model.
Blueprint ran a highly targeted marketing process and approached one group with interest.
The buyer was a private equity owner-operator based in New York that reportedly has a strong presence in the local market. The opportunity to provide high acuity care was appealing to the buyer.
SLIB Helps Sell Pennsylvania SNF
Senior Living Investment Brokerage earlier this month announced the successful completion of a deal to sell Lackawanna Health and Rehabilitation Center in Scranton, Penn., on behalf of a seller who wanted to exit operations in the state.
The sale of the 272-bed three-story building included multiple offers from both state and regional buyers.
The new owner is a Penn.-based SNF owner.
SLIB’s Bradley Clousing and Toby Siefert handled the transaction.
“The team at SLIB procured 12 offers in early 2021 when most of the market was still focused on recovering from COVID-19,” Siefert said in the press release.
Lument Advises on Philadelphia-area CCRC Sale
Lument Securities announced it closed a U.S. Department of Housing and Urban Development (HUD) loan for Bryn Mawr Terrace, a continuing care retirement community in Bryn Mawr, Penn.
Lument advised the board of directors of the CCRC in the deal, which closed in late August, as it serves as exclusive financial advisor to Bryn Mawr Terrace on the transaction.
The community was sold to a private operator.
Companies featured in this article:
Blueprint Healthcare Real Estate Advisors, Lument, Senior Living Investment Brokerage, Ziegler
