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News  ›  GlobeNewswire Inc.

New Wave Loans Provides $10.5 Million Loan for BH Group Assisted Living Acquisition “The Atrium Boca” from Blackstone

GlobeNewswire Inc. Logo GlobeNewswire Inc. By Ryan Powers
New Wave Loans Provides $10.5 Million Loan for BH Group Assisted Living Acquisition “The Atrium Boca” from Blackstone

BH GSC Boca LLC, partnering with BH Group, acquired The Atrium Boca assisted living facility in Boca Raton for $12.25 million, significantly less than Blackstone's 2017 purchase price. New Wave Loans provided a $10.5 million acquisition loan to finance the transaction.

Insights
EPD   positive

Has increased distributions for 27 consecutive years, operates with stable cash flow from long-term fee-based contracts, and is completing a major expansion phase


BX   negative

Sold the property at a significant loss compared to their 2017 acquisition price