• Healthcare REIT Divests SNF to In-Place Operating Partner

    Senior Living Investment Brokerage returned to West Des Moines, Iowa, to sell a skilled nursing facility that it had previously sold in 2019. A healthcare REIT was the buyer back then and is now selling the facility to its in-place regional operating partner. Built in 2004, Arbor Springs features 56 beds on an attractive four-acre campus about 10... Read More »
  • Near-Stabilized AL/MC Community Lands Refinance

    Carnegie Capital closed a bridge refinance for a 50-unit assisted living/memory care community in the Houston, Texas MSA. Four years ago, the property was bought by a California-based operator with a growing footprint in Texas. Performance was approximately two to three months from stabilization, but with the acquisition loan maturity looming, a... Read More »
  • Record-Setting HUD Express Lane Application to Commitment

    Cambridge Realty Capital provided a $6.15 million loan to refinance Avalon Memory Care Keller, a 50-bed stand-alone memory care community in Keller, Texas (Dallas-Fort Worth MSA). The fully amortized, 35-year HUD loan was provided for the owner, a Texas limited liability company, that wished to recast bank debt into a long-term non-recourse... Read More »
  • Large Healthcare Owner Receives Financing

    An owner of more than 80 healthcare properties spanning nine states secured bridge and working capital financing for its skilled nursing portfolio in Washington. The financing includes a $40 million bridge loan and a $6 million working capital line of credit, with a 36-month initial term. MONTICELLOAM provided the funding. Read More »
  • Out-of-State Owner Divests to Investor

    A couple of assisted living and memory care communities in Eastern Tennessee recently traded hands. The two properties comprise more than 100 units. A Chicago-based investor aligned with the seller’s long-term vision for the communities acquired the assets, and partnered with a regional operator that was looking to grow their presence in the... 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 »