• Novellus Divests in Colorado

    by | May 17, 2024 4:16 pm | Acquisitions

    Evans Senior Investment arranged the sale of an assisted living community in Denver, Colorado, representing Novellus Living in the transaction. ESI previously facilitated the sale of the community less than two years ago. Originally built in 2002, Novellus Cherry Creek comprises 66 units and operates on a 59% private pay basis. In 2022, occupancy... Read More »

  • CBRE Secures Financing for Washington Asset

    by | May 17, 2024 4:14 pm | Financings

    CBRE secured financing for a seniors housing community in Tacoma, Washington, on behalf of a joint venture between Harrison Street, PMB and GenCare Lifestyle. Built in 2020, GenCare Lifestyle Tacoma at Point Ruston comprises 159 independent living, assisted living and memory care units. The community fully opened in the fourth quarter of 2020 and... Read More »

  • Live Oak Bank Returns to Santee Seniors Housing Campus

    by | May 17, 2024 4:12 pm | Developments, Financings

    Live Oak Bank closed a $27.0 million refinance with a repeat client for an assisted living/memory care community, The Ridge at Lantern Crest, situated on a larger campus, Lantern Crest, in Santee, California. Lantern Crest, operated by Lantern Crest Senior Living, is a 34-acre seniors housing campus developed by The Grant Companies. It offers... Read More »

  • The Current Lending Environment for Senior Care Properties

    by | May 17, 2024 9:31 am | Acquisitions, Developments, Financings, Opinion

    The financing process has killed dozens (and hundreds) of deals in the last couple of years, and yet M&A activity is near record levels in the seniors housing and care industry. So deals are getting done, and not just with cash. Who has been lending and at what cost to the borrower? What hurdles have to be overcome? And when capital costs do... Read More »

  • Lument Arranges Tennessee SNF Sale (& Loan Assumption)

    by | May 16, 2024 4:27 pm | Acquisitions

    A skilled nursing facility in Tennessee that was struggling to maintain debt service and other loan obligations sold with the help of Laca Wong-Hammond and Isabel Carta of Lument Securities serving as exclusive financial advisor to the seller. Located in Rocky Top, about 25 miles from Knoxville, Summit View of Rocky Top is a 117-bed skilled... Read More »

Budding building boom in Omaha?

by | Oct 23, 2014 4:33 pm | Developments

When one thinks of overdevelopment in seniors housing, Omaha, Nebraska doesn’t typically come to mind right away. Nonetheless, the effects of the building boom in senior living communities may already be beginning to show in Nebraska’s largest city, with occupancy (we hear) weakening in certain parts of the city. NIC MAP also shows this trend, with penetration rates for independent living and assisted living (which often includes memory care units) at 5.3% and 8.2% respectively. According to NIC, construction for assisted living is also hot in that area, with new construction representing 13.6% of the current inventory in the area. Two Omaha-based developers have recently broken ground on... Read More »

Responsible building is key these days

by | Oct 23, 2014 4:32 pm | Developments

As a developer, owner and operator, Watercrest Senior Living Group develops its communities with the intent of being in it for the long haul. Uniquely equipped with its own internal market development team, Watercrest uses higher-income thresholds than seen in many typical market studies (with even higher income thresholds to build memory care), and approaches each site by engaging in the local community to identify its specific needs. In the high-income, master-planned community of Lake Nona in Orlando, Florida, the age and income demographics combined with there being no assisted living competition within eight miles of the site suggested the need for a high-end community. So, Watercrest... Read More »

Fast fill-up at a Los Angeles CCRC

by | Oct 23, 2014 4:32 pm | Developments

When Los Angeles hasn’t seen a new CCRC in 20 years, either there is no demand for one, or the city is starving for one. Clearly with the new Fountainview at Gonda Westside, which presold 92% of its units with 10% deposits in less than nine months, there was a need. Outbidding several other developers, Los Angeles Jewish Home for the Aging (LAJHA) secured 2.5 acres in Playa Vista, a highly-desirable, master-planned community that had already pre-zoned this land for a senior living community. Numbering at 200 units (176 IL, 12 AL, 12 MC) and 460,000 square feet in six stories, this entrance-fee, not-for-profit CCRC sponsored by LAJHA is the first on the city’s wealthy Westside and the... Read More »

Top Senior Living Developments, 10/9/2014

by | Oct 9, 2014 4:30 pm | Developments

Top Senior Living Developments Name Type Developer Cost The Springs at Monarch Landing, Naperville, IL Rehab/LTC-96, MC-28 Senior Care Development N/A Tapestry at Woodland Hills, Tulsa, OK IL-140 Avenida Senior Living/Black Oak Partners $18 million Copper Trace, Westfiled, IN SN-104, AL-36 CarDon & Associates $19 million Read More »

Experienced providers get into the assisted living/memory care development market

by | Oct 9, 2014 4:28 pm | Developments

Newcomer Avanti Senior Living is set to open its first two senior living communities in 2015, with one in Cypress, Texas and the other in The Woodlands, Texas. These two communities, both in the Houston metro area, are the first to come in Avanti’s development pipeline of seven total properties (so far) in Texas and Louisiana. While other developers out there certainly have more properties coming down the pike than this newcomer (especially in Texas), Avanti still stands out among its competitors. Co-founders Tim Hekker (who is also the CEO) and Lori Alford (COO) combined bring over 50 years of experience in the operating world of senior care and a unique perspective to the development of... Read More »