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Under the terms of a Memorandum of Understanding, Welltower and Jefferson would create a joint venture whereby Welltower would acquire a stake in certain real estate assets of Jefferson.
CT acquired the 382-acre property within the Rickenbacker Industrial Park in a joint venture with Walton Street Capital. Construction financing will be provided by Bank of America.
Long Ridge is located on 1,660 acres and includes a 485 MW power plant currently under development, nearly 300 acres of available flat land, two barge docks on the Ohio River, a unit train capable loop track and direct truck access to Ohio Route 7.
The transaction was reported by NKF Multifamily Capital Markets, which stated it brokered the $43.6-million sale and $34.8-million Freddie Mac financing for repeat NKF/Freddie Mac sponsor, AndMark Investment Fund.
The initial focus will be to integrate CareMore's clinical programs and onsite care models at Welltower communities in Los Angeles and Orange County in collaboration with operating partners Belmont Village and SRG Senior Living.
The program provides home sellers with home improvement resources prior to or during the home listing period with no up-front costs or interest charges, the partners state.
In our pre-event coverage for GlobeSt.com's ADAPT awards, we continue to recognize the winners of specific categories. The winner of best hazardous material removal at a commercial project is the Empire Improvement Building.
The Southern Park Mall, which is adjacent to DeBartolo Commons, is also undergoing some improvements that will include a new entertainment hub that will feature a 37,000-square-foot indoor golf entertainment center, additional entertainment uses and new food and beverage offerings.