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IPA Brokers $27 Million Senior Housing Asset Sale in Greater Phoenix

SCOTTSDALE, AZ–Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced  the sale of The Manor Village at Scottsdale, a 101-unit senior housing asset in Scottsdale, Arizona. The property sold for $27 million, or $267,327 per unit. “Currently, approximately 25% of Scottsdale’s 230,000 residents are in the …

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Washington Trust Provides $30 Million to Benchmark for Its Popular New Pond Village Community in Walpole, MA

WALPOLE, MA–Washington Trust’s Commercial Banking Group recently provided $30 million to Benchmark Senior Living for the refinancing of its New Pond Village continuing care community in Walpole, MA. The community, which sits on 19.4 acres just 19 miles south of Boston, last year celebrated the completion of an $8 million renovation and the opening of its Mind & …

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Skilled Nursing Transaction Announced in Gainesville, Texas

GAINESVILLE, TX–SLIB, a leader in the seniors housing transaction market, facilitated the turnaround sale of River Valley Health and Rehabilitation Center of Gainesville. The community encompasses +/- 20,000 sq. ft. on a +/- 1.6 acre lot, offering 116 licensed beds and 84 operational beds. This 1971-built community struggled with occupancy …

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Champaign County Nursing Home Sale Brokered by IPA

URBANA, IL–Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), announced the sale of the Champaign County Nursing Home, a 243-bed skilled nursing facility in Urbana, IL. The sales price was $11 million. Joshua Jandris, Mark Myers, and Matthew Andriano, all of IPA, represented the seller, Champaign …

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Merchants Capital Secures Bridge Financing for Assisted Living Portfolio in Ohio

CARMEL, IN–Mortgage banking firm Merchants Capital has arranged nearly $50 million in total financing for three assisted living communities in Ohio: The Ashford at Mt. Washington, The Ashford on Broad and The Ashford on Sturbridge. Merchants Capital secured the bridge loans on behalf of Wallick Communities, which develops affordable assisted living and memory care communities. The bridge …

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