CBRE Sells A Second First Centrum Independent Living Community

CBRE sold another First Centrum independent living community in Virginia, a couple of years after selling the developer’s 118-unit Glen Allen (Richmond MSA) community for $25.88 million, or $219,280 per unit. The latest deal featured a 120-unit community in Williamsburg. Built in 2010 by First Centrum, it features a range of unit options, from 660- […]

Solvere’s Southeast Strategy

Through a number of partnerships, Solvere Senior Living expanded its presence in three states by taking over management of three to-be-built assisted living/memory care communities in Florida (2) and Texas, and two existing independent living communities in Virginia. New Jersey-based Solvere has steadily grown its portfolio since its launch in 2009, with five senior living […]

WMD’s in Williamsburg!

What would you pay for an empty assisted living/memory care community? What about a nearly-finished 48-unit memory care community in Williamsburg, Virginia whose previous owner filed for bankruptcy? Well, Jacksonville, Florida-based investment bank/brokerage firm WM Dougherty & Co. (WMD) purchased that unfinished site for $7.5 million, and has plans to invest another $2 million to […]

From fixing to building

A company with extensive experience in turning around struggling senior living communities is now developing its first property and is pulling together all manner of financing sources in its capital stack. Solutions Advisors, which got its start in 2010 advising senior living communities on management, marketing and sales strategies, has already broken ground on its […]