Capitol Seniors Housing Announces Two More Senior Living Projects
Capitol Seniors Housing’s development pipeline is growing fast, as luxury senior living communities continue to go up and down the Acela Corridor, and Chicagoland too. The firm has announced its two latest projects in Andover, Massachusetts and Glenview, Illinois, both scheduled to open in the fourth quarter of 2018. The Andover community will feature 96 units, at a cost of $36.5 million, or $380,200 per unit. The Northbridge Companies will take over management. And in Glenview, CSH is building an 83-unit assisted living community for $28.4 million, or $342,200 per unit, which will be managed by Atria Senior Living. The community will complement CSH’s 95-unit community in nearby... Read More »
CBRE Closes Financing For Two Joint Ventures
Aron Will of CBRE once again showed off his range, and his reach, closing two financings for clients in California and Michigan. First, in Traverse City, Michigan, a 388,000-square foot former asylum that underwent a decade-long redevelopment into a massive mixed-use neighborhood capped off the project with a brand-new, 110-unit independent living/assisted living community in the 130-year old building’s north wing. The $31 million senior living community opened in 2014 and has experienced steady lease-up, nearing stabilization today. Adding to the site’s appeal is that it is now surrounded by numerous restaurants, wineries, boutiques and over 70 small businesses. Developed by a joint... Read More »
HJ Sims Helps Out New North Dakota Joint Venture
HJ Sims helped finance a couple of the largest not-for-profit providers of senior care and health care in the country in order to team up and combine their services in the Bismarck/Mandan area of North Dakota. The Evangelical Lutheran Good Samaritan Society (ELGSS), which currently operates over 224 senior living and care communities, and Sanford Health, the largest rural, not-for-profit health care system with 45 hospitals and 289 other locations, each operate skilled nursing and assisted living facilities in the Bismarck area. In addition, Sanford Health operates an acute care hospital in the city. So, the organizations decided to form a joint venture to operate the facilities in the... Read More »
Belmont Village Teams With Blue Moon Capital
Belmont Village Senior Living and Blue Moon Capital Partners are teaming up for their first ground-up construction project together, albeit their third venture overall, with a planned 157-unit assisted living/memory care community in Aliso Viejo, California. A master planned community located in the San Joaquin Hills of southern Orange County, Aliso Viejo boasts high home values and high incomes, which should help to fill the luxury community. Featuring both studio and one-bedroom units, the community also comes with a town hall, fitness center, salon and heated salt-water pool. Upon completion in 2018, Belmont Village will operate the community. To fund the project, the venture turned to... Read More »
Ziegler Arranges Bond Financing For First Vermont CCRC
When Vermont’s first CCRC, Wake Robin, was ready to expand its services and its campus to accommodate for its growing demand, it turned to Ziegler to arrange a $67.1 million bond financing to fund the project. Situated near Lake Champlain in a wooded 123-acre campus with many walking trails, the not-for-profit community got its start in 1984 and currently features 212 independent living, 51 skilled nursing and 31 residential care units. However, strong demand led the owners to expand each of the CCRC’s offerings, adding 38 new independent living units, 10 residential care units, six skilled nursing units, in addition to renovating the common areas and the existing skilled nursing facility.... Read More »Schedule a demo
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