Deals and Funding: Cushman & Wakefield arranges sale of two communities, Vitality to Operation; IHC closes $400 million in 2022

Financing

Inspired Healthcare Capital to close two companies by 2023

Inspired Healthcare Capital announced the completion of two acquisitions before moving the calendar to 2023.

The first community, named Thrive at Augusta, is an 85-unit retirement and memory community located in Augusta, Georgia. The second community, called “Dancing River”, is an 84-member memory care and living community located in Grapevine, Texas.

For Scottsdale, Arizona-based IHC, the deals complete a strong year of acquisitions that included 12 transactions and 13 communities totaling approximately $400 million.

MidCap Financial closes mortgage loan in portfolio

MidCap Financial announced that it recently closed a joint venture between NexCore Group and Heitman on its first floating rate mortgage.

The loan will facilitate the recapitalization of the 6 community senior housing portfolio, which consists of 821 total units including IL, AL and memory care.

Experience Senior Living, NexCore’s senior housing development and management arm, will manage all communities.

Sales

Cushman & Wakefield arranges sale and financing

Cushman & Wakefield announced the sale of a 112-unit residential community for the elderly, which will now be managed by Vitality Senior Living and owned by Winterpast Capital Partners.

The community, called Appletree Court, consists of 112 nursing homes in Richardson, Texas, in the rapidly growing Dallas-Fort Worth mega-plex.

Richard Schwartz, Jay Wagner, Jim Dooley and Jack Griffin of Cushman & Wakefield represented Franklin Park Senior Living vendor.

SLIB promotes sale of memory care products

Senior Living Investment Brokerage announced that it has facilitated the sale of a memory care center in Utah, which will be operated by Ridgeline Management.

The community, called Barrington Place, is a 45-unit, 66-bed memory care community located in Clinton, Utah.

Jason Punzel of SLIB, Vince Viverito and Brad Goodsell handled the transitions.

Transactions

Market Square Architects and Aesch Design Architects team up

Two architecture and design firms specializing in the senior housing industry have announced a merger.

The firms – Market Square Architects and Aesh Design Architects – have announced that they will merge and operate as Market Square Architects, with Adam Wagner and Robert Harbezon leading the way.

Along with the elderly, the firm operates in multi-family, industrial, educational, medical, custom, residential, and retail stores.

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