Monarch Funds New Ohio Development
We haven’t seen much construction lending these days, with construction costs and interest rates rising, but Alec Blanc of Monarch Advisors secured an $18.9 million loan to fund a 105-unit/116-bed senior care project in Bowling Green, Ohio. The community is being developed by Trilogy Opportunity Fund I, an affiliate of Louisville, Kentucky-based Trilogy Health Services, at a cost of $23.625 million, or $225,000 per unit. Construction costs went up during the process, but the bank modified the loan to main an 80% loan-to-cost. There are 50 skilled nursing beds, 34 assisted living/memory care units and 25 independent living units. Monarch secured a senior loan commitment from a... Read More »
Walker & Dunlop Hire Dedicated Housing Expert in Southern California
Walker & Dunlop, Inc. has hired Gideon Orion as Managing Director on its investment sales platform. Most recently working for Blueprint Healthcare Real Estate Advisors, Mr. Orion is based in Los Angeles and will join the firm’s national seniors housing property sales team led by Managing Director Joshua Jandris. Mr. Orion will be focused on originating and executing seniors housing property sales opportunities across the United States. He has a strong track record and brings additional skill to Walker & Dunlop’s seniors housing sales team, in addition to expanding the firm’s existing footprint in Southern California. In fact, Mr. Orion represents the first dedicated... Read More »Front Doors Open at Fairfield County Community
EPOCH Senior Living and National Development announced the opening of Waterstone on High Ridge, a hotel-style community for seniors featuring independent living, assisted living and memory care with a full array of high-end amenities and services. After nearly two years under construction, the community will open to residents this month. Located in Stamford, Connecticut on a wooded campus next to a conservation area, the property features 146 units broken into 88 independent living, 36 assisted living, and 22 memory care units. All-inclusive monthly fees for independent living start at $8,950 for a one-bedroom apartment, at $10,500 for a one-bedroom assisted living apartment, and at $8,750... Read More »
Koelsch Communities Expands with New California Community
Koelsch Communities has opened a new independent living community in Elk Grove, California. The community broke ground in May of 2019, but completion was delayed due to the pandemic. The $75 million Park at Laguna Springs sports 135 senior apartments and 16 casita apartments. Koelsch is vertically integrated with a construction arm, and three memory care communities have come online in the last 12 months: an 80-unit community in Kirkland, Washington, a 72-unit community in Elk Grove, California, and a 72-unit community in Puyallup, Washington. Koelsch has been adding independent living and assisted living offerings, preferring to build out continuum-of-care options on a given campus... Read More »
Another Home Builder Launches New 55+ Brand
Dream Finders Homes (DFH), a publicly traded homebuilding company, is expanding into the active adult market with a new brand of communities called “Reverie.” The company is leveraging its sales success in their existing active adult community, Reverie TrailMark, in the St. Augustine, Florida area. The word “reverie” means daydream and reflects the idyllic lifestyle that DFH hopes to represent with their amenity-laden properties. The company is not alone in seeing robust demand from empty-nesters and those 55 and over (really 75 and older) as an avenue of growth and hopes to leverage their experience with homebuilding to provide well-planned communities. A competitor of theirs, Toll... Read More »Schedule a demo
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