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

Acquisition Details - BH GSC Boca LLC, a partnership with BH Group and an experienced assisted-living operator, has acquired The Atrium Boca for $12.25 million, a significant discount from Blackstone's 2017 acquisition price of $21.8 million [2] - The acquisition was financed by New Wave Loans, which provided a $10.5 million acquisition loan that includes reserves for capital expenditures (CAPEX) [2] Operational Strategy - The joint venture plans to reposition and stabilize The Atrium Boca through targeted operational improvements and enhanced resident care services [2] - A representative from the operating partner expressed excitement about collaborating with BH Group to strengthen operations, improve resident experience, and restore the property to its full potential [2] Company Profiles - BH Group is a Miami-based real estate investment and operations firm specializing in healthcare-adjacent and senior-housing assets, focusing on value-add repositioning and operational optimization [3] - New Wave Loans is a local private lending firm that offers fast, flexible, and creative financing solutions for real estate professionals, specializing in complex transactions requiring speed and customized lending structures [4] Property Overview - The Atrium Boca is an assisted-living community located at 1080 NW 15th St. in Boca Raton, Florida, providing residents with personalized care, supportive services, and a community-centered living environment [5]