Kayne Anderson Real Estate has entered an agreement to recapitalize a Class A senior housing portfolio in partnership with existing owner-operator Tradition Senior Living. As part of the transaction, the firms formed a new joint venture to hold the portfolio. The five-property collection includes The Tradition-Clearfork in Fort Worth, The Tradition-Lovers Lane and The Tradition-Prestonwood in Dallas, and The Tradition-Woodway and The Tradition-Buffalo Speedway in Houston. Across the portfolio, there are 1,546 units, consisting of 1,047 independent living units, 348 assisted living units and 151 memory care units. The communities are reported to be approximately 96% occupied.
In a leadership move within the multifamily sector, The Bainbridge Companies has promoted Brian Doppelt to President. Doppelt, who joined the firm in 2016 and became General Counsel in 2018, will now take on broader responsibilities across the organization. In his new role, he will work closely with the executive leadership team to advance Bainbridge’s long-term vision, reflecting his evolution into one of the company’s senior leaders.
American Landmark Apartments has appointed Elizabeth Roy as Chief Investment Officer. Roy will oversee the firm’s investment strategy, capital deployment, acquisitions, risk management and portfolio management functions. According to the firm, she has sourced, underwritten and closed more than $6 billion in transactions across major property types, working with capital from private equity funds, REITs, high-net-worth individuals and family offices.
In the investment sales arena, Marcus & Millichap announced the sale of Westgate Square, a grocery-anchored shopping center in Orlando, Florida, for $19,500,000. The property totals 136,189 square feet on approximately 16.3 acres and is fully occupied by 25 tenants. The roster includes Bravo Supermarket, Goodwill Industries, Family Dollar and Hibbett Sports. Westgate Square was built in 1981 and renovated in 1990. The Marcus & Millichap team of Salim Valiani and Yassin Benkabbou exclusively marketed the property on behalf of the seller, described as a private high-net-worth individual from South Florida.
Second Horizon Capital has added Gregory T. Maloney as Senior Advisor. Maloney brings more than four decades of experience in retail real estate, asset management and portfolio transformation. He spent 25 years at JLL, where he served as President and CEO of the firm’s Americas Retail business. During his tenure at JLL, he led more than 15 strategic acquisitions and established the firm’s national receivership services practice, experience he is expected to leverage in his advisory role with Second Horizon.
