REBusinessOnline

Chicago Pacific Founders Acquires 100-Unit Seniors Housing Community in Central New York

LIVERPOOL, N.Y. - Chicago Pacific Founders (CPF) has acquired Parkrose Estates, a 100-unit independent living community in the Syracuse suburb of Liverpool, for an undisclosed price. CPF made the purchase along with its subsidiaries, Grace Management and CPF Living Communities. Grace Management will take over operations at the community. CPF plans to make improvements to the campus, but further details were not

Lancaster Pollard Secures $23.1M Refinancing for Seniors Housing Property in New Jersey

GALLOWAY, N.J. - Lancaster Pollard has arranged a $23.1 million refinancing for Seashore Gardens Living Center, a nonprofit seniors housing community in the Atlantic City suburb of Galloway. The community first opened in 1916 and has expanded to a 20-acre campus over the years. It offers assisted living, memory care, skilled nursing, rehabilitation, long-term care and home health services. The loan will convert the community's existing bond debt into FHA financing. The refinancing will save the …

Monticello Provides $45.3M Financing for Three-Property Seniors Housing Portfolio in New York

NESCONSET, N.Y. - Monticello Asset Management has provided $45.3 million in bridge-to-HUD financing to Nesconset Property NY LLC. The borrower will use the funds to acquire two adult daycare facilities and a 242-bed skilled nursing facility in New York State. Although the names and locations of the properties were not disclosed, the borrower is named for Nesconset, a town on Long Island. The adult daycare facilities can house up to 165 seniors and were built in 1993 and 1994. The skilled …

Franklin Street Brokers $16.9M Sale of Multifamily Community in Orlando

ORLANDO, FLA. — Franklin Street has brokered the $16.9 million sale of CaSienna Apartments, a 160-unit multifamily community located at 5703 Stoneridge Court in Orlando. Robert Goldfinger, Darron Kattan, Kevin Kelleher and Zachary Ames of Franklin Street arranged the transaction on behalf of both the seller, SR Apartments LLC, and the buyer, an undisclosed partnership. CaSienna Apartments was constructed in 1972 and 1973 and comprises 16 one- and two-story buildings. Community amenities …

Outlook Management Group to Manage 105-Unit Luxury Apartment Property in Chicago

CHICAGO — Outlook Management Group LLC has begun managing Seven 10 West, a luxury apartment property in Chicago’s River West neighborhood. Developed this year by Outlook Development and Wicker Park Apartments, the 105-unit luxury apartment building is located at 710 W. Grand Ave. The property features 5,000 square feet of ground-floor retail space. Amenities include a fitness center, rooftop patio, kitchen space and bike

Castle Lanterra Acquires 201-Unit Apartment Building in Metro Denver

LAKEWOOD, COLO. - New York-based Castle Lanterra Properties has purchased The Ranch at Bear Creek, a multifamily property located at 3324 S. Field St. in Lakewood, about seven miles southwest of Denver. The acquisition price and name of the seller were not released. Built in 1973, the property features 118 two- and three-bedroom townhomes, 54 two-bedroom units and 29 one-bedroom apartments. Community amenities include a remodeled clubhouse, newly constructed fitness center, two swimming pools, …

Mogharebi Group Facilitates $12.2M Sale of Apartment Community in Bakersfield, California

BAKERSFIELD, CALIF. - The Mogharebi Group (TMG) has arranged the sale of Case Del Sol Apartments, a 205-unit multifamily community located at 2601 Fremont St. in Bakersfield. A San Fernando Valley, Calif.-based private investment group purchased the property for $12.2 million. Built in 1965, the gated community features a mix of studio and one-bedroom layouts, a swimming pool, 24-hour maintenance and a central laundry facility. Alex Mogharebi, Otto Ozen, Robin Kane and Mark Bonas of TMG …

CBRE Arranges Sale of, Acquisition Financing for, 85-Unit Seniors Housing Community in Suburban Denver

LITTLETON, COLO. - CBRE has arranged the sale of MorningStar of Littleton, an 85-unit assisted living and memory care community in the Denver suburb of Littleton. A joint venture between Kayne Anderson Real Estate and MorningStar Senior Living acquired the property from an institutional investor for an undisclosed price. Lisa Widmier of CBRE's National Senior Housing team represented the seller. Aron Will, also with CBRE National Senior Housing group, arranged $20.5 million in acquisition …

InterFace Las Vegas Multifamily Conference Coming April 24th

Western Real Estate Business and the InterFace Conference Group are pleased to announce the annual InterFace Las Vegas Multifamily Conference on April 24th at the Four Seasons Hotel in Las Vegas. The big event will include those who are buying, selling, developing, redeveloping, or financing multifamily properties in the Las Vegas area. The conference will explore the latest trends in leasing, management and operations, as well as economic and demographic trends that impact the …

InterFace Seniors Housing Midwest Conference Scheduled for June 7 in Chicago

Seniors Housing Business magazine and InterFace Conference Group will host the 4th annual InterFace Seniors Housing Midwest conference on June 7 at the Marriott Marquis Chicago. The conference will focus on the state of seniors housing investment, development, operations and financing across markets in the Midwest. It is designed to bring together the leading owners, operators, investors, developers and lenders/financial intermediaries active in the region. InterFace Seniors Housing …