• Berkadia Announces Array of Closings

    Berkadia is riding a transaction hot streak, closing 19 property sales in the last 45 days. The activity included a portfolio featuring five assisted living/memory care communities across Utah, Wisconsin and Minnesota sold to Jaybird Capital, an affiliate of Jaybird Senior Living, through HUD assumptions. Jaybird assumed management of the... Read More »
  • Tremper Capital Group Closes Several Financings

    Tremper Capital Group showed off its variety with a series of financings closed for clients across the country. They included a construction loan, an acquisition loan, a bank refinance and a portfolio financing. First, the team closed non-recourse construction financing for an assisted living/memory care community in the Dallas-Fort Worth area.... Read More »
  • Upstate New York SNF Trades Between Not-for-Profits

    Joe Knapp of the Knapp-Stahler Group at Marcus & Millichap handled the sale of a skilled nursing facility in upstate New York. The Center For Nursing And Rehab in Hoosick Falls, New York, comprises 82 beds in a single-story building that sits on four acres. It was built in 1954, but renovated in 1979 and 1995.  Apparently, the facility... Read More »
  • Acquisition Financing Closed for Distressed California Community

    Private debt fund and direct commercial real estate lender Wilshire Finance Partners closed an $8.15 million first lien bridge loan for the acquisition and repositioning of a distressed seniors housing community in California. The financing included reserves specifically allocated for capital improvements and operational support during the... Read More »
  • Developer and Operator Secure Construction Financing

    Another new development will soon be underway, with BLDG Real Estate and The Fellowship Family securing financing for a $100 million full-continuum community, Fellowship Wildlight. BLDG Real Estate is a real estate development firm that specializes in design, development and asset execution across multiple product types. The Fellowship Family is... Read More »

Holland Home rehab center in Grand Rapids to expand

Holland Home plans to expand its Breton Rehabilitation and Living Centre, with groundbreaking expected in late August. The $6.5 million, privately funded expansion of the rehab center—located on Holland Home’s Breton Woods campus in Grand Rapids, Michigan—will include a new 4,560 square-foot rehabilitation center, renovation and redecoration of the existing facility, and the addition of a 13,400 square-foot, 15-bed assisted living/memory care space. The rehabilitation services expansion will quadruple the size and capacity of the existing Breton Woods campus and the capabilities of the center’s current rehab program; it will include a state-of-the-art therapy gym, physical therapy,... Read More »

Anthem Memory Care to develop multiple locations in suburban Chicago

Anthem Memory Care of Lake Oswego, Oregon, has received approval to develop a new memory-care community in the Village of Burr Ridge, Illinois—the first of several communities the company plans to bring to the suburbs of Chicago. Anthem is also under contract for two additional purchase and sale agreements in Chicagoland—one in Tinley Park and another in Glenview—and is pursuing as many as seven other locations in the area. The 40,000 square-foot Burr Ridge community, with an estimated development cost of $12 million and as yet unnamed, will accommodate up to 76 residents dealing with various levels of Alzheimer’s, dementia, and other forms of memory loss. Upon opening, the new facility is... Read More »

Thrive Senior Living breaks ground in Gainesville, Virginia

At a ceremony on June 26, Thrive Senior Living broke ground on The Tribute at Heritage Village, a 128-unit assisted living and memory-care community in Gainesville, Virginia. Located at the front entrance of Heritage Hunt, a 55+ active adult community, The Tribute at Heritage Village will feature two restaurant dining venues, a movie theater, spa, fitness center with state-of-the-art digital equipment specifically designed for seniors, and salon, as well as a doctor’s office and a telemedicine suite. A completely separate memory-care “neighborhood” will offer a secure environment for residents with Alzheimer’s and other forms of dementia; innovative programming will foster cognitive... Read More »

In San Jose, a new perspective on assisted living

An environment where residents don’t have to compromise their interests, hobbies, and beloved California lifestyle is the plan for a new assisted living project coming to San Jose, California. Plans for a “dynamic and relevant” assisted living facility in the heart of tech-savvy, innovation-loving Silicon Valley were created by BCA Architects, a design firm headquartered in San Jose, and recently received unanimous approval from the San Jose City Council and Planning Commission. Construction on the $25 million facility, as yet unnamed, will begin this fall with completion scheduled for fall 2015. So what does BCA have in mind for the new facility? “Baby boomers are, by nature, continual... Read More »

Belmont Village Senior Living opens 23rd community—its first in Austin

Residents have begun moving into Belmont Village West Lake Hills, a 141-unit assisted living and memory-care community on a 13-acre site in suburban Austin, Texas. The new community has 115 studio and one-bedroom apartments for individuals needing various levels of assisted care and a 26-unit memory-care neighborhood for those with significant cognitive decline. Rents start at $4,500 per month; amenities and services include chef-prepared meals with more than two dozen menu choices, a bistro for casual dining, housekeeping services, daily transportation, a fitness center with wellness programs and therapy services, a saltwater swimming pool, a full-service salon, a technology center, and... Read More »

Wichita Presbyterian Manor redevelopment: Phase 1 nearing completion

Presbyterian Manors of Mid-America (PMMA) is on track to complete the first phase of its $35 million redevelopment of Wichita Presbyterian Manor by the end of this summer. Phase one of the overall project includes the transformation of 48 assisted living apartments, 24 memory care suites, and 50 skilled nursing suites. Phase one also includes a Post-Acute to Home (PATH) rehabilitation wing and new health-care common spaces, including a new main kitchen. The redevelopment project will allow Wichita Presbyterian Manor to provide memory care services for the first time. Phase two of the campus expansion will add The Westerly Residences at Wichita Presbyterian Manor, a new independent living... Read More »

Second Autumn Leaves community for Oklahoma City

The LaSalle Group recently broke ground on its latest Autumn Leaves-branded memory-care community, a 30,000 square-foot, $9.5 million project in Oklahoma City that will serve nearly 50 residents dealing with Alzheimer’s and other forms of dementia. Autumn Leaves of Southwest Oklahoma City is The LaSalle Group’s second venture in the Oklahoma City metro area; the company recently opened Autumn Leaves of Edmond in nearby Edmond, Oklahoma. Autumn Leaves of Southwest Oklahoma City will feature LaSalle’s innovative building design, along with cutting-edge technology, to ensure a calm, safe, and engaging environment for residents. Unique to this particular new property, however, will be a... Read More »

Trilogy’s new communities open in Indiana, Michigan

Louisville, Kentucky-based Trilogy Health Services just celebrated the opening of its 81st and 82nd senior living health communities in the Midwest: Cedar Creek Health Campus, in Lowell, Indiana, opened on June 19; The Willows at Okemos, in Okemos, Michigan, opened a week later on June 26. Cedar Creek and The Willows at Okemos each offer assisted living, short-term rehabilitation, skilled nursing, and transitional care. Cedar Creek has the capacity to accommodate 24 residents in assisted living and 58 residents in its health center. The Willows at Okemos also can accommodate 24 residents in assisted living but 68 residents in its health center. Cedar Creek also offers specialized memory... Read More »

LCB Senior Living and The Congress Companies begin next project

The Residence at Five Corners, a senior living community in Easton, Massachusetts, is the latest project being undertaken by developer LCB Senior Living, LLC, and The Congress Companies, a full-service construction firm that specializes in senior living projects. The 84,000 square-foot, 74-unit community will offer independent living and assisted living apartments (studio, one-bedroom, and two-bedroom), along with common areas that include comfortable living rooms, a library, cafés, and an exercise room. Residents will also enjoy access to private dining, entertainment, and recreation activities. A separate memory care wing will have its own common areas and amenities in a secure... Read More »

Spectrum opens Meadow Brook Senior Living in Fishers, Indiana

Denver-based Spectrum Retirement Communities announced the completion of its newest community, Meadow Brook Senior Living in Fishers, Indiana—a fast-growing suburb of Indianapolis. The 80,250-square-foot community, located just off Easy Street in the town of Fishers, will offer a total of 88 rental units: 10 independent living, 60 assisted living, and 18 memory care. Residences include studio, one-, and two-bedroom apartments. As with all Spectrum communities, Meadow Brook hosts on-site personal care services and provides licensed professionals who offer occupational and speech therapies, monthly health screenings, and physical rehabilitation. Meadow Brook features two levels of memory... Read More »

Jewish Home Lifecare offers affordable assisted living in the Bronx

Jewish Home Lifecare recently began welcoming residents to University Avenue Assisted Living, a new program on the organization’s five-acre Harry and Jeanette Weinberg Campus in the Bronx, New York. Specifically available to low-income seniors in the borough, University Avenue Assisted Living is one of the first facilities of its kind in the Bronx that is also Medicaid-eligible. The brand-new, five-story building was funded by a $26 million grant from the New York State Department of Health’s Health Care Efficiency and Affordability Law (HEAL) program. University Avenue Assisted Living has 72 studio apartments, each with a kitchenette, private bathroom, resident-controlled heating and... Read More »