Senior Living & Healthcare
305 West End Avenue
305 West End is a beautiful 15-story building situated on the northwest corner of 74th Street and West End Avenue, a prime location in the Upper West Side neighborhood of Manhattan located one block from Broadway, Riverside Park and is a short walking distance to 1,2&3 Subway trains. The property offers large units with great ceiling heights and magnificent Hudson River views.
Northwind acquired the property through a JV with Harrison Street Partners and Engel Burman Group and has improved all services provided by the property along with conducting a major capital improvement program in order to turn it into the best assisted-living facility in Manhattan totaling 239 units of which 40 will be memory-care units dedicated for residents suffering from Alzheimer's, Memory Loss and Dementia.
The Carespring Portfolio
The Carespring Portfolio consists of 8 Class-A assisted living and skilled nursing facilities, containing 1,147 beds in the Greater Cincinnati Ohio area. Northwind closed on this off-market transaction in September 2018.
Northwind signed a new NNN lease with the operator, Carespring Health Care, who has over 32 years of experience providing transitional, rehabilitative, and long-term nursing care. The in-contract facilities were all built within the past 20 years and currently generate over $100 million in annual revenue. Carespring has established themselves as a best-in-class operator, and Northwind intends to develop additional senior facilities with them in the near future.
The Barrington of Ft. Thomas
Located in Campbell County Kentucky, the Barrington of Ft. Thomas is a 110 bed Assisted Living Facility. The Barrington shares a campus with Highlandspring of Ft. Thomas, a 140 bed Skilled Nursing Facility operated by Carespring. Northwind acquired the property in September 2018 as part of the Carespring Portfolio. At the Barrington of Ft. Thomas, residents have a choice of studio, one bedroom or two bedroom apartments. All apartments come equipped with washer and dryer, cable TV, weekly housekeeping, and a state-of-the-art phone system which provides a link with Carespring’s Resident Care. Amenities include a formal dining room (with master chef), fitness center, beauty/barber shop, sundry store, and activity center.
Highlandspring of Ft. Thomas
Located in Campbell County, Kentucky, Highlandspring is a 140 bed Skilled Nursing Facility. It was built in 1999. Northwind acquired the property in September 2018 as part of the Carespring Portfolio. The facility shares a campus with The Barrington of Ft. Thomas, a 110-bed Assisted Living Facility operated by Carespring. Highlandspring’s therapists and caregivers provide individualized care plans for Transitional Care patients. The facility encompasses both a residential area and a separate rehab center. Within the facility, is a chapel, Market Cafe, beauty shop, and a family guest room.
Eastgatespring of Cincinnati
Located in Clermont County, Ohio. Eastgatespring is a 189 beds Skilled Nursing Facility. It was built in 1986 and renovated in the mid 2000s. Northwind acquired the property in September 2018 as part of the Carespring Portfolio. The facility is located just outside downtown Cincinnati. Eastgatespring’s therapists and caregivers provide individualized care plans for Transitional Care patients. The facility encompasses both a residential area and a separate rehab center. Within the facility, is a chapel, Market Cafe, beauty shop, and a family guest room.
Villaspring of Erlanger
Villaspring is a 140 bed Skilled Nursing Facility. It was built in 1999. Northwind acquired the property in September 2018 as part of the Carespring Portfolio. The facility is located in Erlanger Kentucky, a suburb of Cincinnati. Villaspring’s therapists and caregivers provide individualized care plans for Transitional Care patients. The facility encompasses both a residential area and a separate rehab center. Within the facility, is a chapel, Market Cafe, beauty shop, and a family guest room.
Hillspring of Springboro
Hillspring is a 140 bed Skilled Nursing Facility. It was built in 1999. Northwind acquired the property in September 2018 as part of the Carespring Portfolio. The facility is located in Springboro, a suburb of Cincinnati. Hillspring’s therapists and caregivers provide individualized care plans for Transitional Care patients. The facility encompasses both a residential area and a separate rehab center. Within the facility, is a chapel, Market Cafe, beauty shop, and a family guest room.
Shawneespring of Harrison
Shawneespring is a 140 bed Skilled Nursing Facility. It was built in 2007. Northwind acquired the property in September 2018 as part of the Carespring Portfolio. The facility is located in Harrison Ohio, serving both the Cincinnati and Southeastern Indiana communities. Shawneespring’s therapists and caregivers provide individualized care plans for Transitional Care patients. The facility encompasses both a residential area and a separate rehab center. Within the facility, is a chapel, Market Cafe, beauty shop, and a family guest room.
Heritagespring of West Chester
Heritagespring is a 144 bed Skilled Nursing Facility. It was built in 2004. In September 2018 Northwind acquired the property as part of the Carespring Portfolio. The facility is located in West Chester Ohio, serving both the greater Cincinnati and Dayton communities. Heritagespring’s therapists and caregivers provide individualized care plans for Transitional Care patients. The facility encompasses both a residential area and a separate rehab center. Within the facility, is a chapel, Market Cafe, beauty shop, and a family guest room.
Dayspring of Miami Valley
Dayspring is a 144 bed Skilled Nursing Facility. It was built in 1997. Northwind acquired the property in September 2018 as part of the Carespring Portfolio. The facility is located in West Chester Ohio, serving the Dayton area. Dayspring’s therapists and caregivers provide individualized care plans for Transitional Care patients. The facility encompasses both a residential area and a separate rehab center. Within the facility, is a chapel, Market Cafe, beauty shop, and a family guest room.
The New Jersey Healthcare Portfolio
In August 2019, Northwind provided a $26 million Mezzanine Loan for the acquisition of a 930-bed high-quality independent living, assisted living, memory care, and skilled nursing portfolio in Tom River, NJ.
The Borrower, CompleteCare Management, acquired the portfolio for $169 million, and plans to complete renovations, improve marketing, and infuse the CompleteCare Management culture of resident/ patient focused care and hospitality to increase cash flow and the value of the portfolio.
The Portfolio includes the 55+ acre master-planned Silverwoods campus consisting of 324 independent living garden style apartments, 96 assisted living beds with memory care services, and 120 skilled nursing beds, the Shorrock Gardens Care Center encompassing 180 skilled nursing beds and 30 memory care beds, and the Holiday Care Center with 180 skilled nursing beds.