Erickson Senior Living Planning Big Tampa Bay Project
It may be up for debate exactly when seniors housing development kicks back into high gear to prepare for the oncoming baby boomers, but Erickson Senior Living is planning its next project at its typically large scale to include more than 1,000 units of seniors housing in Lakewood Ranch, Florida. The company is seeking site approvals from Manatee County to build 1,020 independent living units in addition to a 250-bed skilled nursing facility on the site. Phase I of the project would include 660 apartments, and phase II would consist of 360 units along with parking, utility and stormwater infrastructure. There would also be pedestrian bridges that would connect the 10 buildings. Completion... Read More »
Rockwood Capital and Doyenne Healthcare Capital Announce Joint Venture
Rockwood Capital and Doyenne Healthcare Capital have announced a new seniors housing joint venture to invest up to $100 million of equity in seniors housing assets across the United States. Doyenne Healthcare Real Estate is a women- and minority-owned real estate investment firm that was established in August 2022 and is headquartered in Chicago, Illinois. Rockwood Capital is a real estate investment management firm founded in 1995 that provides debt and equity capital combined with real estate operating expertise for the repositioning, development, redevelopment and recapitalization of residential, office, retail and hotel space in key markets throughout the United States. Financial terms... Read More »
Denver Developer Doubles Down on Active Adult
Denver-based Headwaters Group announced its intention to increase its development and acquisition activity within the active adult market. The company recently launched its middle-market active adult initiative and will focus on for-rent communities for adults aged 55 and older in the western half of the United States, initially, with plans to expand nationwide. Headwaters and an unknown joint venture partner plan to build a 169-unit active adult community in Centennial, Colorado and is also under contract for land in Northglenn to build a 169-unit active adult community. In addition to these two Colorado communities, Headwaters is currently in the works for two more projects in Longmont... Read More »
Link Senior Development Building Albuquerque Community
A luxury senior living community is going up in Albuquerque, New Mexico, with the help of construction financing secured by JLL Capital Markets. Alanna Ellis led JLL’s Debt Advisory team on the transaction. Link Senior Development is building the three-story community to include 144 units of independent living, assisted living and memory care, along with a host of amenities. It is situated on 6.5 acres adjacent to a new ambulatory urgent care center and an MOB. Link received a $51.8 million loan to fund the project. Assuming more conservative leverage on the transaction, the construction cost could be between $550,000 and $600,000 per unit. Read More »
Ziegler’s Construction Financing in Minnesota
Ziegler announced the closing of $47 million in construction financing for a new senior living community in Corcoran, Minnesota (Minneapolis MSA). Saint Therese of Corcoran, LLC, and its sponsor, Saint Therese, will comprise 99 independent living units, 34 assisted living units and 20 memory care units and sits on a 13-acre site. The financing comprises $18.2 million of Series 2022AB and $28.8 million of Series 2023 Senior Living Revenue Notes placed with Bremer Bank. Campus-wide amenities will include restaurant-style dining, outpatient therapy and wellness areas, as well as indoor and outdoor social gathering spaces. Organized in 1965 as a single-site nursing home in New Hope, Minnesota,... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
