• Investment Firm Acquires in Missouri

    Investment firm Lapis Advisers purchased a seniors housing asset out of state receivership in Kansas City, Missouri. The CCRC was distressed, having struggled with COVID-related challenges as well as a limited access to capital in recent years.  Kingswood Senior Living features 185 independent living (65 of which are large duplex cottages),... Read More »
  • Global Investment Firm Sells Community with Strong Momentum

    A global real estate investment firm sold an independent living community in Iowa, engaging Blueprint’s Kory Buzin, Dillon Rudy and Steve Thomes to get the deal done. Built in 2002, the four-story community features 121 units, mostly with two-bedroom options. It appears to be The Arbordale in Urbandale, which was acquired in 2020 by Omaha,... Read More »
  • Large Operator Adds Turnaround Campus to Portfolio

    A senior care campus in Ohio found a new owner with the help of Kiser Group. Set on 26 acres in a rural market east of Cleveland, the property features 76 skilled nursing beds, five assisted living units and three independent living units. It was originally built in 1950 but expanded through multiple additions between 1965 and 2001.  At the time... Read More »
  • Texas Skilled Nursing Portfolio Sells

    A portfolio of skilled nursing facilities traded hands in Texas before the end of the year. There are two assets in the Lubbock area and two in Central Texas that are located northwest of Austin. They comprise more than 430 beds, with between 100 to 120 beds at each of the four facilities. Three of the buildings were constructed in the 1970s, and... Read More »
  • CIBC Bank’s Recent Activity

    CIBC Bank USA closed an impressive array of transactions in the last several months, totaling more than $800 million in credit facilities across the country. The largest transaction was an $85 million (with earn-outs) debt package for a senior care portfolio in the Northeast. The debt included a senior term loan and a mezzanine loan to refinance... Read More »

Erickson Living’s third CCRC in New Jersey—underway and selling well

Construction is underway on Lantern Hill, Erickson Living’s new, 540,000-square-foot CCRC on 21 acres in New Providence, New Jersey—about 20 miles west of New York City. This will be Erickson’s 18th senior living community and its third in northern/central New Jersey. Upon completion, Lantern Hill will have five interconnected buildings that comprise 275 independent living apartments (one- and two-bedroom units) and 85 continuing care residences that offer assisted living, memory care, long-term care, and short-term rehabilitation. Residents will enjoy a fitness facility with an indoor swimming pool, along with a wide range of services and amenities, such as restaurants, housekeeping, and... Read More »

Vista Ridge Grand Opening Today

Today, June 5, Presbyterian Senior Living (PSL) is celebrating the grand opening of Vista Ridge, an independent living community on the 77-acre campus of Ware Presbyterian Village CCRC in Oxford, Pennsylvania. The $24.5 million expansion adds 31 one- and two-bedroom apartments and eight duplex “carriage houses” to Ware’s existing 79 independent living villas, 52 assisted living units, and 137 skilled nursing beds. A clubhouse with community space and a dining pavilion were also part of the expansion project. Sustainability was a major factor that PSL incorporated into its plans for Vista Ridge. All apartment units will benefit from a geothermal HVAC system that uses underground... Read More »

“Flex-room” design for new DFW Metroplex community

Construction will begin this month on Rochester Springs Assisted Living and Memory Care, a 95-unit senior-care community in Mansfield, Texas—a suburban town in the Dallas-Fort Worth Metroplex. The $11.5 million project is part of a larger office and mixed-use campus. When completed, Rochester Springs will comprise 51 assisted living and 44 memory-care units. The ground floor of the two-story building will have two memory-care neighborhoods—residences and common areas—with secure activity courts. Assisted living residences and common areas will be on the second floor. The building will feature two interior courtyards, two dining venues, a salon, and other amenities. All of the residential... Read More »

Groundbreaking in Connecticut for Masonicare at Mystic

Masonicare, one of Connecticut’s oldest and largest organizations dedicated to seniors and health care, launched its new retirement community, Masonicare at Mystic, on May 29 with a ceremonial groundbreaking celebration. The 18-acre site in the town of Stonington’s historic (and charming) borough of Mystic abuts 45 acres of open space recently acquired by Denison Pequotsepos Nature Center. Masonicare at Mystic will have 179 upscale rental units—81 independent living, 50 assisted living, and 48 dedicated to memory support. The community will offer one- and two-bedroom apartments and a few studios; amenities will include a bistro, several dining rooms, a pool, fitness center, shops, and... Read More »

Cypress Palms’ memory care program (for women only) reopens

The Goodman Group, which manages Cypress Palms—an assisted living community in Largo, Florida—celebrated the grand reopening of Pearl Essence®, a memory-care environment designed exclusively for women residents. The multi-million dollar renovation project took about six months to complete. The grand opening took place on May 8. The renovation of Pearl Essence®, which first opened in 2009, adds 15 custom-designed Alzheimer’s and dementia care apartments (bringing the total to 27), along with refurbished interiors, expanded lobby and lounge areas, a redesigned kitchen and dining area, and a new sun porch. The upgraded interiors feature stimulating artwork and sky murals created by local... Read More »

Maplewood Senior Living’s new memory-care community underway

Under construction and scheduled to open November 1, Maplewood Senior Living’s newest assisted living/memory care facility— Maplewood at Stony Hill—will be one of Connecticut’s few stand-alone assisted living facilities dedicated exclusively to seniors living with Alzheimer’s disease and dementia. Last fall, the Westport-based developer and operator of senior living communities broke ground on a six-acre parcel in nearby Bethel and began construction of the $20 million, purpose-built facility. Maplewood at Stony Hill, a 78,000 square-foot community with 84 rental units, will offer a mix of private, deluxe studio, and one-bedroom apartments for residents with early, mid-stage, and... Read More »