Transactions
MedCore acquires two communities
MedCore Partners announced it has completed the acquisition of two senior living communities in Detroit, Michigan.
According to a press release, this acquisition will bring MedCore’s seniors housing portfolio to nine states and 22 assets with approximately 2,700 beds.
The transaction was completed through a partnership with REDICO/American House, and American House will be operating the communities.
Blueprint was engaged for the sale of a 50-bed inpatient transitional care facility in Las Cruces, New Mexico.
According to a press release, an owner-operator “representing strong execution certainty” was selected as the buyer.
The facility was built in 2017 and has 50 beds.
Management
Tutera Senior Living and Health Care announced on May 10 it is now managing The Lumiere of Chesterfield in Chesterfield, Missouri.
According to a press release, the upscale community is slated to open this spring and will offer 150 apartments, including 96 independent living, 37 assisted living and 17 memory care units.
Tutera has partnered with Shelbourne Healthcare Development Group for the management, and brings Tutera’s portfolio to 65 communities.
Financings
Capital Funding Group closes on $20M refinancing
Capital Funding Group announced it has closed on a $20 million Bridge-to-HUD loan on behalf of a nationally recognized borrower.
According to a press release, the loan is being used to support the refinancing of a 125-unit skilled nursing facility in Maryland.
The announcement follows CFG’s closing on a $65 million bridge loan for a nine community portfolio in Ohio.
