• Newmark Announces August Deal Activity

    Newmark announced its August activity, which totaled around $300 million of transaction volume. The largest deal was Spectrum Retirement’s sale of four seniors housing communities in the Columbus, Ohio MSA to an undisclosed institutional buyer. Opened in 2017 and early 2018, the portfolio totals 514 units of independent living, assisted living... Read More »
  • Several Companies Report August Occupancy Gains

    Several companies have released occupancy updates for the month of August, and there were some mixed results. However, for the most part, these top players reported large basis-point gains over several months, and even between July and August. This consistency among businesses bodes well for a return to normalcy in the skilled nursing and seniors... Read More »
  • Tryko Adds to Rhode Island SNF Portfolio

    Tryko Partners added to its Rhode Island skilled nursing portfolio with the acquisition of a 120-bed facility in North Kingstown. Named Scalabrini Villa, the one-story facility is set on a bucolic property facing Narragansett Bay. The Brown family (Brown University’s namesake) donated the site to Rhode Island Hospital, which... Read More »
  • Seattle Seniors Housing Community Wraps Up Construction

    Wesley Homes, Presbyterian Homes & Services (PHS) and Ryan Companies teamed up nearly three years ago to develop a large senior living community in Seattle, and has recently completed the project.  The 405,992-square foot senior living community, called Wesley at Tehaleh, exists within the master-planned community of Tehaleh by Newland... Read More »
  • MedCore Partners Divests Washington State Community

    After purchasing a portfolio of seven seniors housing properties from Ventas in July 2020, MedCore Partners is divesting one of the properties in Sedro-Woolley, Washington (about 75 miles north of Seattle). The 2020 acquisition comprised six other communities in Washington (Sequim, Olympia, Centralia and Tacoma) and California (San Juan... Read More »
Seattle Seniors Housing Community Wraps Up Construction

Seattle Seniors Housing Community Wraps Up Construction

Wesley Homes, Presbyterian Homes & Services (PHS) and Ryan Companies teamed up nearly three years ago to develop a large senior living community in Seattle, and has recently completed the project.  The 405,992-square foot senior living community, called Wesley at Tehaleh, exists within the master-planned community of Tehaleh by Newland in Bonney Lake, a suburb of Seattle. The Tehaleh community is owned in a joint venture partnership between North America Sekisui House, LLC (NASH), and Newland, the master developer of the community. The 16.8-acre community features two buildings called The Lodge and The Brownstone, and consists of 18 memory care apartments, 168 independent living... Read More »
Real Estate Developer Enters Seniors Housing Space

Real Estate Developer Enters Seniors Housing Space

Harbor Custom Development, a real estate development company, closed on the purchase of approximately 2.34 acres of land in Burien, Washington, for $2.6 million. The purpose? They will now develop a 112-unit senior condo complex located less than 15 minutes from downtown Seattle. There will be studio, one- and two-bedroom options priced between $395,000 and $495,000, providing a more middle-market housing option for seniors in a market where home prices keep climbing. In King County alone, home prices rose 25% in the last year, with the median selling price of a home rising to $871,000.  The community will be under the “Mira” brand of condominiums, but this represents Harbor Custom... Read More »
Big Rock Announces CCRC Development in South Carolina

Big Rock Announces CCRC Development in South Carolina

Big Rock Partners has announced the $180 million development of Seafields at Kiawah Island, a high-end CCRC on South Carolina’s Kiawah Island. The community will feature 98 one, two and three-bedroom independent living units, along with 16 assisted living and skilled nursing units. Kiawah Life Plan Village Inc. (KLPV), a newly formed not-for-profit, purchased a nine-acre site from Kiawah Partners, a subsidiary of South Street Partners. The developed property will be the first 62+ luxury life plan community on Kiawah Island. It will also feature an in-house medical clinic operated by the Medical University of South Carolina. The idea for this development was conceived after Kiawah and... Read More »
Real Estate Developer Enters Seniors Housing Space

Link/MedCore Join to Develop Arizona Active Adult Community

Link Senior Development and MedCore Partners announced the development of Ativo of Sundance, a 202-unit senior living community inside Sundance Active Adult master planned community in Buckeye, Arizona. The 1,100-home community is managed by Associate Asset Management (AAM) and boasts an 18-hole public golf course, community center and more than 20 different clubs from which homeowners can become members. It is also located in Buckeye, the fastest growing small city in the United States.  The new senior living campus will offer 103 independent living, 75 assisted living and 24 memory care units immediately adjacent to the Sundance Adult Village... Read More »
Saudi Investment Team Adds to Florida Portfolio

Saudi Investment Team Adds to Florida Portfolio

Real estate giant Madison Marquette has teamed up with Saudi Arabia-based Arbah Capital to build a $37 million senior living community in Punta Gorda Isles, Florida.  This high-quality, 135-unit community has 116,000 square feet, making the total price per square foot $319. It is scheduled for completion in early 2023 and will be operated by Meridian Senior Living. Banesco USA provided the debt for the project.  Tampa-based Diaz Fritz Group is the project’s general contractor and St. Louis-based CASCO+R|5 is the architect. This is the second enterprise for the Madison Marquette-Arbah Capital duo. They previously joined together to build a 117,000-square foot, 144-unit... Read More »
Real Estate Developer Enters Seniors Housing Space

Homebuilder Toll Brothers Announces Another Active Adult Development

Long-time luxury home developer Toll Brothers has joined a slew of other builders to break into the active adult market. It most recently announced the anticipated opening of Regency at Waterside in the Philadelphia metropolitan area, which includes 496 high-end single-family homes, carriage-style townhomes and a community clubhouse for seniors. Prices range from mid-$500,000s to upper $700,000s. Across its 227 acres of landscaping and four “collections”, buyers can choose between 23 different one- and two-story story home designs. The 10,700-square foot clubhouse contains an outdoor and indoor pool, a pavilion, fire pit, fitness center, putting green and walking trails throughout the... Read More »