CBRE Secures Bridge Financing For Orange County Community
Bridge lending may be in a period of relative inactivity not seen for some time, but CBRE got creative working with a multifamily bridge lending program to refinance a brand-new senior living community in Orange County, California. The luxury community in Laguna Niguel features 176 independent living/ assisted living flex units and 22 units for memory care on an irreplaceable 11.6-acre site. It was built in 2018 and consists of numerous amenities, including a 15,000-square foot rooftop with a lounge, sunroom, open-air art studio and putting green. Atria Senior Living operates the community under its “Signature” brand on behalf of the joint venture owners Fremont Realty Capital and... Read More »
Capitol Seniors Housing Opens Community In Chicagoland
Capitol Seniors Housing opened a brand-new assisted living/memory care community in Chicago’s Highland Park neighborhood to be operated by Atria Senior Living. What’s the name for the new community? Appropriately, it’s Atria Highland Park. This property was designed by Richmond, Virginia-based Mosely Architects and Austin, Texas-based Studio Six 5, and features 72,000 total square feet in three stories. There are 86 units, 22 of which are in a separate memory care neighborhood that also features a salon. Other amenities across the community include a theater, art studio, fitness center and a wellness center offering health checkups and monitoring. That probably reduces the stress of not... Read More »
From Atria Senior Living to Elegance Living
Baltimore, Maryland-based Elegance Living, LLC recently named Josh Krull as its CEO. After 13 years at Atria Senior Living. Most recently serving as Senior Vice President – Operations Chief of Staff, Krull worked closely with Atria’s COO to oversee operations of communities across North America. He will be taking over leadership of a company with 46 communities under management in 16 states and approximately 4,150 units, which include 750 units under development. The new developments are located in California (587 units), Washington (73 units) and Virginia (90 units). Two of the communities in California (in Dublin and Novato) are set to open later this year, as... Read More »
Healthpeak Properties’ Florida Sale Handled By Newmark
Newmark Knight Frank has closed another seniors housing sale in the middle of the COVID-19 crisis, representing Healthpeak Properties in its sale of a community in Lantana, Florida. Originally built in 1986, the property features 173 total units, with 115 for independent living and 58 for assisted living residents. Occupancy was around 83%. Operated by Atria Senior Living, the community was bought by Pacifica Senior Living, which paid $12.35 million, or under $72,000 per unit. Ryan Maconachy, Chad Lavender, David Fasano and Ross Sanders of Newmark handled the transaction, and Bank of the West provided a $10.4 million mortgage to fund the deal. Apparently, the property... Read More »Schedule a demo
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