Senior Living Dealbook: Distinctive Living Assumes Management In Kentucky; Berkadia Provides $24.8m Acquisition Loan

Management

Distinctive Living assumes management of Kentucky community

Distinctive Senior Living announced it has assumed management of Twinbrook Assisted Living, an assisted living community located in Louisville, Kentucky.

Under Distinctive’s management, the community will “leverage standardized operating systems, centralized support functions and enhanced reporting to elevate resident outcomes, occupancy and revenue growth,” according to a press release.

“Disciplined execution in senior housing depends on timely, accurate and actionable data,” Joe Jedlowski, chairman and CEO of Distinctive Living, said in the release.

Financings

Berkadia provides $24.8M acquisition loan

Berkadia announced it arranged a $24.8 million bridge loan for the acquisition of a 140 unit independent living, assisted living and memory care community in Ocean Springs, Mississippi.

The loan was provided on behalf of a Memphis-based repeat client, according to a press release.

The seller was exiting the senior housing market, and this acquisition marks the buyer’s 10th community in Mississippi, the release states.

JLL secures $48M refinancing for two communities

JLL Capital Markets announced it arranged a $48 million refinancing for The Chelsea at New City in New City, New York and The Chelsea at Washington Township in the Township of Washington, New Jersey.

The Chelsea at New City was built in 2021 and consists of 80 units, and The Chelsea at Washington Township consists of 85 units, a press release states.

JLL’s debt advisory team worked on behalf of the borrower Bain Capital Real Estate and Capitol Seniors Housing, the release states.

Lument closes $21.5M refinance

Lument announced it closed on a $21.5 million refinance loan for Village Green of Federal Way.

The 170-unit community is family owned and located in Federal Way, Washington, a press release states.

Casey Moore, senior managing director for Lument based in San Diego, led the transaction, the release states.

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