Ziegler Closes $ 44.1 Million Forest Deal at Duke; SNF sale of $ 17.5 million in Indiana


Chicago-based specialty investment bank Ziegler announced last week that it has entered into Series 2021 bonds of $ 44,415,000 for a CARF-accredited non-profit retirement community in Durham, North Carolina .

Located just south of Duke University in Durham, NC, The Forest at Duke opened in 1992 and serves as a Type B living care community for more than 360 residents in 154 apartments, 88 cottages (242 independent living units in total), 34 assisted living units and 58 licensed skilled nursing beds.

The bonds would be used to fund a replacement health and wellness center that will include 90 new units in a “cottage” format in a five-story building of approximately 110,000 square feet.

Each household would consist of 10 private rooms and would include a living room, kitchen and dining room as well as a sitting area and a covered balcony.

Ziegler reportedly closed the deal in 52 days.

LTC Properties sells three assisted living communities for $ 35 million

LTC Properties (NYSE: LTC) announced this week the sale of three assisted living communities in Wisconsin.

The properties, which would have sold for $ 35 million, were part of LTC’s Senior Lifestyle portfolio and included 263 assisted living units.

The estimated payout is approximately $ 5.6 million.

In a statement released with the deal, LTC CEO Wendy Simpson said the company is looking to diversify its portfolio by selling assets strategically and successfully.

ESI helps sell $ 17.45 million skilled nursing facility in Indiana

Evans Senior Investments this week announced the $ 17.45 million sale of Providence Anderson in Anderson, Indiana.

The 204-bed facility was 60% occupied when it entered the market, with net operating income of $ 2.2 million; the former owner-operator, a regional supplier, was looking to leave Indiana’s skilled nursing market.

ESI conducted a targeted marketing process and reportedly obtained five letters of intent in two weeks.

“Providence Anderson represented a strategic divestiture for an out-of-state owner / operator and an opportunity for a new regional operator in Indiana to use its scale and relationships with hospitals to improve operational performance. We have continued to see buyers paying stabilized values ​​for skilled nursing communities, despite poor occupancy and financial performance throughout the COVID-19 pandemic, ”ESI CEO Jeremy Stroiman said in the statement. Press.

CIBC closes $ 76 million transaction

CIBC Bank USA has entered into a $ 60 million term loan to refinance a previous loan to purchase three distressed properties in California, two of which are qualified nursing homes, the Chicago-based bank said this week. .

CIBC completed the transaction on behalf of a California-based operator.

The $ 76 million transaction included a $ 16 million working capital facility that would be used across 13 properties in the operator’s portfolio.


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