BusinessBriefs for July 2014
» Berkadia Commercial Mortgage LLC acquired Keystone Commercial Capital, a commercial mortgage banking company based in Scottsdale, AZ. Keystone services more than $2 billion in commercial real estate loans. Berkadia plans to add 16 employees to its offices.
» HJ Sims arranged a $214 million bond financing for the construction and acquisition of Sinai Residences of Boca Raton, a continuing care retirement community in Florida. Federation CCRC Operations Corp. will manage the facility, which has 237 independent living units, 48 assisted living units, 24 memory-support units and 60 skilled nursing suites.
» Aviv REIT acquired a skilled nursing facility in Kentucky for $6 million. The facility will be triple-net leased to Diversicare Healthcare Services. This transaction was Aviv's ninth major deal of the year.
» Ziegler announced that a letter of intent to affiliate was signed between The Board of Trustees of Friends Homes Inc. and the Board of Governors of The Presbyterian Homes Inc. FHI and PHI would create a not-for-profit continuing care retirement organization that would be the leading system in North Carolina.