Ambitious 2018 Ahead For Harbor Retirement Associates
Florida-based senior living developer/operator, Harbor Retirement Associates, has a plan to open a new assisted living/memory care community nearly every month in 2018, a tall order for any operator or developer. HRA will start the year by opening a community each in Jacksonville, Florida, and Long Grove, Illinois (Chicago MSA) in January. Then, throughout the year, the company has grand openings planned in Delaware, Ohio, South Carolina, Florida and Virginia, bringing the 2018 total to 10 new communities. And that’s following the three communities HRA opened recently in McKinney and Southlake, Texas and Palm Beach Gardens, Florida. Operationally, opening 10 communities in a year is hard... Read More »
Capitol Seniors Housing Constructs
Capitol Seniors Housing has made it clear that it sees a great opportunity in the 55+ active adult space, but assisted living still has a place in its investment strategy, of course. The private equity firm just broke ground on a brand-new 86-unit assisted living/memory care community in Fulton, Maryland (about halfway between Washington, D.C. and Baltimore). At a cost of $27.5 million, or about $320,000 per unit (high for the area-average of $233,000 per unit, according to our in-house database), the community will be operated by The Arbor Company upon completion, which is expected in late-2018. Read More »
Atria Senior Living Heads To High-Income Fairfield County, Again
Hoping that success will breed more success, Atria Senior Living just broke ground on an 86-unit assisted living/memory care community in Ridgefield, Connecticut, which will be its fourth in the high-income, highly desirable Fairfield County. Average rents are especially high in the county (often surpassing $10,000 per month for memory care services), and already with locations in Darien, Stamford and Stratford, Atria has successfully established its brand there. Now, to Ridgefield, where Atria and its development partner Formation Development Group broke ground on an 86-unit assisted living/memory care community. Located on a four-acre site that was purchased for $3.2 million, the... Read More »
The Wolff Company Invests In Independent Living
At a time when most attention in the seniors housing development market has been directed at assisted living and memory care, The Wolff Company is betting big on independent living, with a pipeline of 20 properties planned to open in the next few years throughout the western United States. Since its founding in 1949, the company has mostly focused on the multifamily space, but to build up its seniors housing team, in March 2014 Wolff brought on Mike Milhaupt, who has over 20 years of experience developing senior living properties at First Centrum. Since welcoming Mr. Milhaupt, Wolff has broken ground on 11 IL developments throughout the West and has also purchased three senior apartment... Read More »
Good Samaritan Society Builds New South Dakota SNF
Construction has completed at a brand new skilled nursing facility in Rapid City, South Dakota, the state’s first new facility since the 1980s. Citing the fact that many patients have had to travel to the eastern part of the state for skilled nursing beds, the facility’s sponsor, The Good Samaritan Society, was able to advocate in 2015 the need for 30 additional beds to the South Dakota Department of Health. Expected to open on January 1, 2018, the facility will feature private rooms, therapeutic recreation programs and other specialized therapies. It is located on a Good Samaritan Society’s St. Martin Village campus in Rapid City, which includes independent living and assisted living... Read More »Schedule a demo
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