• 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 »

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 »

Buckeye Community Hope Foundation maximizes LIHTC

The next venture for Buckeye Community Hope Foundation (BCHF), an Ohio-based not-for-profit developer of affordable housing, will be a 34-unit project for low- to moderate-income seniors in Falls Township, Ohio. The BCHF project is once again being facilitated by the Ohio Housing Finance Agency’s Low-Income Housing Tax Credit (LIHTC) program. Valley View Pines will comprise 18 one-bedroom and 16 two-bedroom apartments in a row of single-level, ranch-style homes, which aids accessibility; the materials used in construction will be “eco-friendly.” BCHF will receive federal tax credits of $446,509 during each of the next 10 years to offset the cost of construction. The LIHTC program then... Read More »

Trilogy Health Services opens its 80th community

The Willows at Citation in Lexington, Kentucky, is Trilogy Health Services’ newest senior living community—its 80th senior living campus and its second in Lexington. The new campus offers assisted living, long-term care, short-term rehab, skilled nursing, personal care, and respite services. Designed using Trilogy’s village center residential model, The Willows at Citation features small neighborhood clusters that surround a communal gathering place—a village center—with a restaurant, ice cream parlor, health club, and other amenities where residents can meet and greet each other and build lasting friendships. Residents also enjoy chef-prepared meals, private dining rooms, complimentary... Read More »

Shared-campus concept proposed in Hudson, Wisconsin

Integrating medical suite services within a continuum of care is what Presbyterian Homes & Services has in mind for 14.6 acres of land currently owned by Hudson Hospital & Clinics in Hudson, Wisconsin. Presbyterian Homes plans to purchase the land—a wooded area adjacent to the hospital—and build a 160-unit senior apartment and assisted living complex on it. The shared-campus concept calls for 95 independent living, 46 assisted living, and 19 memory care residences in a four-story building, along with a 6,000 square-foot medical office suite and a 24,000 square foot town center with a bistro, theater, library, auditorium, chapel, fitness center, and hair salon. A future 50-suite... Read More »

It may be spring, but Autumn Leaves are burgeoning

One week before The LaSalle Group broke ground on its ninth memory-care community in suburban Chicago, the company celebrated the grand opening of its second memory care community in the Atlanta area. On May 1, Autumn Leaves of Towne Lake— a 28,000 square-foot, $9.8 million community located in Woodstock, Georgia, about 30 miles north of Atlanta—opened with an official ribbon-cutting ceremony. The Towne Lake community will provide specialized services to 50 residents living with Alzheimer’s disease, dementia, or memory impairment. Then on May 7, Autumn Leaves of Arlington Heights, located 25 miles northwest of downtown Chicago, had its official groundbreaking ceremony. The Arlington... Read More »

Buckner planning its eighth CCRC in Texas

Buckner International announced its newest senior housing development, a high-rise CCRC in Dallas to be called Ventana by Buckner. The $118 million project will be built on nearly three acres of land in the North Park neighborhood of Dallas and feature twin 12-story towers with a total of 314 apartments: 182 independent living, 36 assisted living, 24 memory care, 48 skilled nursing, and 24 short-term rehabilitation. The project will also have three dining areas, a wellness center, pool, chapel, theater, business center, day spa, roof terraces, gardens, and indoor parking. D2 Architecture, also in Dallas, designed the community, which is expected to take four years to complete. Buckner... Read More »