The Village at Orchard Ridge gets bond financing
The Village at Orchard Ridge, a National Lutheran Community in Winchester, Virginia, is a CCRC that is ready to undergo Phase II of construction with the help of a $67.8 million tax-exempt bond issue. Phase I, which opened in 2013, featured 51 IL cottages, 127 AL units, 18 AL/MC units and 10 private skilled nursing units. With Phase I’s success, National Lutheran Communities & Services (NLCS) is ready to start construction on Phase II this month, which will include an additional 104 IL units, 10 private SN suites, a 15,000 square foot wellness center with an indoor pool and a 150-seat dining expansion. The financing, which will also partially fund 18 IL cottages set to open this month,... Read More »Seniors housing growing rapidly in Tulsa
Wichita, Kansas-based Oxford Senior Living, which has four assisted living/memory care communities open in Texas (2) and Kansas (2), is entering the Oklahoma market, having recently purchased land in Oswasso (Tulsa MSA) to build a 36-unit memory care community for $6 million, or $166,700 per unit, which is about average for memory care in the state according to our data. Oxford found a partner in CarrBaierCrandall Real Estate Group, based in Kansas City, Missouri, to help finance the project, which is expected to be completed in August 2015. Tulsa-based ECO Enterprises Inc. is the general contractor, while Wichita-based LK Architecture was brought in as the architect. The Tulsa area has... Read More »Opportunistic Texas developers growing in-state and out
Civitas Senior Living is flexible when it comes to its growth. With the right deal and the right partner, the company develops assisted living/memory care communities with the intent of owning and operating them outright, co-owning with a development partner or being brought in as a third-party manager with a smaller ownership stake. They’ll build independent living where it’s needed too. With three properties open, and two of them stabilized in Winnsboro (East Texas) and Mesquite (Dallas MSA) with 94% occupancy, Civitas has five communities under construction, with two set to open in March 2015 in Midlothian (North Texas) and Austin, two in June 2015 in Flower Mound and Allen (both Dallas... Read More »RED Capital fueling Discovery Senior Living
RED Capital Partners is helping to fuel the growth of one Florida seniors housing developer with six to 10 properties in the works in the Sunshine State. Discovery Senior Living currently manages and partially owns (through its affiliate Discovery Management Group) six large “Aston Gardens” independent living communities in Florida, and the company took over operations and received an ownership interest from Plano, Texas-based Conservatory Senior Living at five independent living communities in Texas (totaling 1,051 units) in March 2014. The company has also made other acquisitions in Florida and Alabama. But, Discovery is fast getting into assisted living and memory care development too.... Read More »MorseLife’s $150 million Expansion
MorseLife, a not-for-profit provider of senior care and housing at its campus in West Palm Beach, Florida, is currently undergoing a four-phase $150 million capital expansion project called The Campaign to Transform MorseLife. The company embarked on the campaign in 2010, and has so far raised about $25 million, with more to come from individual philanthropists. Two phases have already been completed, including the addition of a short-term rehab facility that houses 120 beds and a significant renovation of the campus’ 160-bed long-term care building. MorseLife has already commenced construction on a new 82-unit assisted living/memory care building that is set to open in May 2015. Finally,... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
