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.
Age-restricted (or active adult or 55+) housing has been a popular investment target in the last couple of years, and Green Brick Partners, Inc., a residential land developer, is making a huge investment in a community to be built in the Atlanta, Georgia MSA. The company, though its subsidiary The Providence Group of Georgia, purchased […]
When at first you don’t succeed, try again. That was one borrower’s motto when a financing placement attempt fell through with one lender, so they decided to go to Noah Juran of NorthMarq to get the deal done. To fund the construction of a senior care facility on the borrower’s existing senior living campus in […]
Perhaps as a sign of the strength of both the CCRC and independent living markets, a CCRC in Seattle, Washington just broke ground on a 21-story, 77-unit independent living tower on its existing campus in the First Hill neighborhood. Owned by Transforming Age, a national not-for-profit with existing communities in Washington, Minnesota and Nebraska, it […]
Lancaster Pollard’s Propero Seniors Housing Equity Fund teamed up with Tender Loving Care Management (TLC) for the second time to provide equity for a to-be-built senior living community in Florida. Three years ago, Propero helped finance the construction of a $63 million, 242-bed project in Ocala that was going to offer assisted living, memory care […]
Confluent Senior Living and Harbor Retirement Associates are entering the Connecticut market with their development of a 113-unit assisted living/memory care community in the greater Hartford area. Set to break ground this month, the project is set on a 5.8-acre site in the town of South Windsor and will feature 65 assisted living and 48 […]
The general consensus (with several dissenters) is that senior living construction has (finally) slowed down, after a long period of overdevelopment in many markets. Considering the downstream effects of this, from a tighter, more expensive labor market to lower occupancy, the slowdown is a good thing, especially since most of those elusive baby boomers won’t […]
Lancaster Pollard’s Propero Seniors Housing Equity Fund III helped fund the construction of a new independent living community in Reno, Nevada. Mission Senior Living is building the community, which will feature 130 total units when it opens in the summer of 2020. A combination of equity provided by Propero and a bank loan funded the […]
Acting as exclusive advisor to a joint venture between Pike Properties, Thrive Senior Living and Gallium Real Estate, the Cushman & Wakefield team of Richard Swartz, Jay Wagner and Jim Dooley arranged institutional equity capital for a to-be-built senior living community in Montvale, New Jersey. Located on an 11.5-acre site with a spacious 33,000-square foot […]
Canyon Partners Real Estate LLC, the real estate direct investing arm of global alternative asset manager Canyon Partners, just made its third equity investment in a seniors housing development, partnering with operator Griffin Living in each project. The latest development is located near Westlake Village, California, and will feature 86 units, 58 for assisted living […]
A massive senior living community in Fort Myers, Florida, has plans to replace its skilled nursing facility, and just received bond financing to do it. Ziegler arranged the placement of the $81.16 million in bonds for the Obligated Group, which consists of two Florida not-for-profit organizations: The Christian and Missionary Alliance Foundation, Inc. (d/b/a Shell […]