Senior Living Dealbook: 246-unit Community Comes Under New Ownership; Refinancing Secured For Kansas Community 

Transactions

246-unit community comes under new ownership

Berkadia announced the sale of Wyndham Lakes, a 246-unit independent living, assisted living and memory care community in the suburbs of Jacksonville, Florida.

Wyndham Lakes was purchased by Stagecoach Capital, a Michigan-based real estate investor, according to a press release, who will take over operations at the community and “intends to expand the community’s acuity mix moving forward.”

In addition to the Wyndham Lakes transaction, Berkadia sold a 138-unit assisted living and memory care community to JDI Realty. Evolve Senior Living is set to manage the community, the release states.

National owner-operator sells two-community portfolio

Blueprint announced its involvement in the sale of a two-community, 96-unit memory care portfolio in the submarkets of Cleveland, Ohio on behalf of a national senior living owner and operator.

The communities were built in 2014 and 2017 and are “surrounded by strong memory care demand fundamentals, favorable income demographics and a fast-growing 85+ population,” according to a press release.

The portfolio was awarded to a regional owner-operator with an existing footprint in Ohio, the release states.

Financings

Refinancing secured for Kansas community

JLL Capital Markets arranged a $66.9 million refinancing for The Fieldston, a 209-unit luxury active adult multifamily community in Fairway, Kansas.

JLL worked on behalf of the borrower, a partnership between EPC Real Estate Group and Platform Ventures, to secure the five-year construction take-out loan, a press release states.

The JLL Capital Markets debt advisory team representing the borrower was led by Managing Director Mark Erland, Senior Director Kevin Baron and Associate Ellie Savage, the release states.

Expansions

Sunbound available on PointClickCare marketplace

Sunbound, an AI-powered revenue operating system, is now available on the PointClickCare Marketplace.

The integration “lets operators who run on PointClickCare automate billing across Medicaid, Medicare, and resident private pay, starting from the census and resident data they already keep in their electronic health record,” according to a press release.

“We built Sunbound to clear the repetitive, manual work so their team can focus on residents, get operators paid accurately and on time and do it inside the system they already run on,” Sunbound Co-Founder and CEO Manny Cominsky said in the release. “Being in the PointClickCare Marketplace means an operator can turn it on without adding one more thing to manage.”

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