Maplewood Grows Its Fairfield County Portfolio
A few weeks ago, we wrote of LCB Senior Living’s latest investments in the high-income Fairfield County, Connecticut, with developments going up in Stamford and Darien. We have wondered whether the demand is there for those projects, and others that have finished in recent years. We know that some of them are operating very well, with full occupancy at $10,000+ per month rents. But now Maplewood Senior Living, headquartered in nearby Westport and already established in the area with five communities in the county, just closed on a 27-acre site in Southport where it plans to build a 98-unit assisted living/memory care community. Construction is expected to begin this summer and will include... Read More »LCB Senior Living Brings Its Luxury Brand to Fairfield County
LCB Senior Living has already established itself as a luxury provider of assisted living/memory care services in New England, with 11 communities in Massachusetts, three in Vermont, two each in Connecticut and New Hampshire, and one in Rhode Island. The developer also has two construction projects in Massachusetts and one in New Hampshire. But now, LCB is taking its luxury brand to the high-income and high-cost Fairfield County for the first time, with two developments in Stamford and Darien, Connecticut (both about 45 miles from New York City). In June 2016, LCB purchased a one-acre parcel near downtown Stamford and is currently building a seven-story, 104-unit assisted living/memory care... Read More »
Welltower in NYC?
Welltower, in partnership with real estate investment firm (and newbie to seniors housing), Hines, has acquired a site to develop an assisted living/memory care community in Midtown Manhattan. The original owners of the two adjacent properties that make up the one site brought in Eastern Consolidated to represent them in the sale, for which the terms were not disclosed. Design and development plans have been started, but no scheduled start date has been announced. So, it looks like Omega Healthcare Investors and Maplewood Senior Living will have some competition for their Manhattan senior living development, which is located on the Upper East Side and comprises 20 stories of 214... Read More »Build up downtown
We have heard from some that there is a huge opportunity for urban seniors housing, with more seniors, and eventually (and we mean years down the road) desiring to live in a downtown setting, surrounded by shops, restaurants and entertainment outside of their own building. A few examples of developers looking to satisfy this in a big way are The Clare of Water Tower (the 53-story CCRC in Chicago that cost approximately $270 million to build) and Maplewood Senior Living’s latest development in Manhattan (with 20 stories and 214 units at a cost of $246 million), to name a couple. Columbia Pacific Advisors, a Seattle-based alternative investment firm, is now planning a 24-story, 237-unit... Read More »Schedule a demo
Gain access to the best healthcare and long-term care investment intelligence, data, and analysis.
