Cedar Communities is proud to announce that Managing Director and Co-Founder Anthony Manetta has been named to the Long Island Press Power List for 2019. The Power List highlights the 100 most influential leaders in the Long Island Region.
2019 Year in Review: Richard Foster, Cedar Communities Name: Richard Foster Company: Cedar Communities What was your greatest professional accomplishment in 2019? Cedar positioned itself as the leader in boutique senior housing acquisitions by growing 6X year over year, largely due to the ability to successfully close five assisted living acquisitions in 84 days. With a 100% closing rate and over 200 employees our growth as a firm is without question my greatest professional accomplishment of 2019. What was your most notable project, deal, or transaction in 2019? The acquisition of the Brookside portfolio in Georgia, completed with the [...]
By Tim Mullaney | November 19, 2019 Cedar Communities, a recently formed senior living private equity firm and operating company, has been busy. Since July, Cedar has acquired five communities, providing momentum for further growth in 2020. Cedar was founded a little over two years ago and is building a portfolio of “boutique-sized” facilities in the U.S. Southeast, co-founder and Managing Director Richard Foster told Senior Housing News. Last week, the firm announced its most recent acquisitions, of Brookside of Stone Mountain and Brookside of Commerce. Both communities are located in Georgia and together have 82 assisted living units and 12 independent living units. The [...]
Cedar Communities Acquires 82 Assisted Living Units in Georgia Cedar Communities is proud to announce the acquisition of 82 assisted living units and 12 independent living units in Commerce, Georgia and Stone Mountain, Georgia. The two facilities: Brookside Commerce and Brookside Stone Mountain become the fifth and sixth properties within Cedar's growing Assisted Living Portfolio. Cedar has 220 units / 265 beds under ownership which includes: 31 units in Santee South Carolina (Magnolias of Santee), 34 units in Commerce Georgia (Bountiful Hills), 55 units in Staunton Virginia (Birch Gardens and Royal Care at Birch Ridge) and these 94 units. [...]
Cedar Communities is proud to announce the acquisition of 55 assisted living units in Staunton, Virginia. Cedar has assumed ownership of both facilities today. Travel + Leisure Magazine has called Staunton, "One of America's Best Mountain Towns" and the Philadelphia Inquirer has said Staunton "Has reinvented itself as an Arts & Culture Destination". The two facilities; Birch Gardens and Birch Ridge become the third and fourth properties within Cedar's growing Assisted Living Portfolio. Cedar has 120 units / 163 beds under ownership which includes: 31 units in Santee South Carolina, 34 units in Commerce Georgia and these 55 units [...]
Cedar Communities Announces Acquisition of 34 unit Assisted Living Facility in Commerce Georgia. Cedar is proud to announce the acquisition of the "Bountiful Hills" assisted living facility (ALF). This is the second ALF property in the Cedar Communities portfolio. To learn more about the facility please visit their Facebook page at https://www.facebook.com/bountifulhills/
Investor Subscription Closed - 55 Assisted Living Units in Staunton, VA Capital Raise for 55 unit assisted living investment opportunity in Staunton, Virginia has been successfully closed. Cedar Communities is proud to announce that the investor subscription for our 55 unit assisted living offering in Staunton Virginia has been successfully closed. Thank you to the investors who have joined us. For more information on future assisted living investment opportunities please visit our contact page https://cedarlp.com/contact/.
MMCC Arranges $4 Million Non-Recourse Cash Out Refinance Loan MIAMI, October 18, 2018 – Marcus & Millichap Capital Corp. (MMCC), a leading provider of commercial real estate financing and capital markets expertise, has arranged a $4 million non- recourse loan with to refinance a 31 unit (44 bed) assisted living facility located in South Carolina. “Cedar Communities acquired the property last year for $1.9 million and added significant value. We were able to provide a full cash out of $2.1 million above their purchase price about a year ago. The lender was comfortable providing a nonrecourse loan with [...]