Seniors housing and care development is heating up more than ever, spurred by the impending wave of retiring Baby Boomers. Follow who is building, where projects are breaking ground, how much they are costing, how developments are being financed, and whether operators will be able to adequately fill these properties.
Seven years ago, this month, the first signs of life in the seniors housing development market showed themselves after a barren few years following the depths of the Great Recession. We’re sure none of you want to get back in the recession mindset, but the myriad economic issues facing the industry meant that a construction […]
We’ve written about the bifurcation in the skilled nursing market between the traditional SNFs, which tend to be older, feature smaller, semi-private rooms and heavily rely on Medicaid revenues, and the new transitional care facilities, which cater almost exclusively to the Medicare and private pay patients. These feature large private rooms and come with many […]
Scott Kavel of Greystone fame has set up his own lending shop at CREATIVCAP, and less than two months since forming the business, he has already closed his first transaction. On behalf of Vista Pointe, an Oregon-based senior living operator, Mr. Kavel arranged $8 million in financing from a life company that featured a seven-year […]
A large senior living community being developed by Caddis in partnership with operator Solvere Senior Living is going up in Venice, Florida thanks in part to a construction loan provided by Capital One. Totaling $35.7 million, the loan will finance the 181-unit project, which will feature independent living, assisted living and memory care services upon […]
Who says construction is slowing down? It may very well be, but we keep seeing an active market for construction loans. Dekel Capital arranged one of those totaling $38.7 million for a to-be-built assisted living/memory care community in Glendale, California. East West Bank originated the four-year loan, which came with 36 months of interest-only payments, […]
Always one to develop in affluent, high barrier-to-entry markets, Capitol Seniors Housing is expanding its presence in the New York City metro area with a brand-new assisted living/memory care community in Clarkstown, New York. Situated in the affluent community of New City, the property will feature 80 units upon its completion in early 2020. Atria […]
A senior living development in Delray Beach, Florida is inching towards opening its doors and just received $51.45 million in bonds to cover lease-up costs and other cash needs, arranged by HJ Sims. The mix of tax-exempt and taxable bonds, including $11.6 million in subordinate tax-exempt bonds, were sold to institutional investors and to Sim’s […]
Watercrest Senior Living Group’s latest development in Florida just obtained a construction loan courtesy of BMO Harris Bank’s Healthcare Real Estate Finance group. The community just broke ground last August and is anticipated to open in Summer 2020 with 72 independent living, 96 assisted living and 30 memory care units. Watercrest is developing the community […]
The Phoenix, Arizona market has been a hotbed of senior living construction activity thanks to its rapidly growing retiree population, and a large CCRC catering to high-income residents is looking to capture part of that growth with an independent living expansion. Sagewood already has 316 independent living units, 44 assisted living units, 28 memory care […]
No stranger to big senior living projects, Big Rock Partners (BRP) announced it will be building its second senior living community in Palm Beach County, Florida, at an estimated cost of $150 million, or over $530,000 per unit. BRP kicked it off with the $9 million acquisition of a 15-acre site in Delray Beach, where […]