TOMBALL, TEXAS — Love Funding has arranged a $2.6 million FHA loan to cover the bridge financing for the acquisition of Forever Young Senior Living, an assisted living and memory care facility in Tomball, a northwestern suburb of Houston. Located at 609 S. Pine St., the facility offers a choice of 16 private suites, personal laundry services, private party room and professional hair salon. The loan features a 35-year term with non-recourse financing.
SAN DIEGO — Breaking down the silos between the traditional real-estate-based seniors housing providers and the growing number of health, wellness and supportive services providers will lead to better health outcomes for residents and slow the long-term growth of medical costs. But it’s a shift that won’t happen overnight. That’s one of the key messages Bob Kramer, founder and CEO of the National Investment Center for Seniors Housing & Care (NIC), aims to deliver. The 2017 NIC..
Seniors Housing Business and Heartland Real Estate Business magazines, along with France Media's InterFace Conference Group, will host the 3nd Annual InterFace Seniors Housing Midwest conference on June 7 at the Holiday Inn Chicago Mart Plaza River North. 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..
MORGAN HILL, CALIF. — Steadfast Senior Living has unveiled plans for an unnamed, 67-unit assisted living and memory care community in the San Jose suburb of Morgan Hill. The two story, 62,000-square-foot development will consist of studio, one- and two-bedroom units ranging from 400 square feet to 1000 square feet. Steadfast plans to break ground on the project this summer for a scheduled opening sometime in 2018. Steadfast currently owns two other assisted living and memory care..
DENVER — Blueprint Healthcare Real Estate Advisors, a Chicago-based brokerage firm, has partnered with Pamela Pyms and Hayden Behnke, both seniors housing real estate brokers in Denver. Since 2011, Pyms and Behnke have worked as a team structuring seniors housing sale transactions in the Mountain States. The pair also assists developers in sourcing equity and debt and arrange partnerships among institutional investors and national operators. The new additions represent wider market..
MILWAUKIE, ORE. — Lancaster Pollard has arranged a $5.3 million Fannie Mae loan for BPM Senior Living. The loan provides capital for Royalton Place, a 70-unit assisted living and memory care community in the Portland suburb of Milwaukie. BPM purchased Royalton Place in 2005 and adjusted the acuity mix in late 2014. The financing is part of the owner’s plan to replace the existing third-party operator, instead taking over management of the community itself. Matt Lindsay led the..
LOVELAND, COLO. — Mainstreet is set to open the doors on Medical Center of the Rockies at Centerra, a 70-bed skilled nursing facility in the Fort Collins suburb of Loveland. OZ Architecture designed the 50,000-square-foot property, which is expected to open before the end of this month. Mainstreet is an Indiana-based developer and investor in skilled nursing properties. OZ is a Denver-based architecture firm.
PORTLAND, ORE. — National Health Investors Inc. (NYSE: NHI) has acquired a 102-unit assisted living and memory care community in Portland for $26.2 million. The seller was Prestige Senior Living, which will continue to operate the property. The name of the community was not disclosed. The facility was added to the existing Prestige master lease with NHI that includes three skilled nursing facilities and one assisted living facility. The lease has a remaining term of 12 years. NHI..
TYLER, TEXAS — Civitas Senior Living, a Fort Worth-based seniors development and management firm, has acquired The Hamptons Retirement Community at Greenridge, located at 4250 Old Omen Road in Tyler, a city approximately 100 miles east of Dallas. The deal adds 120 independent and 56 assisted living apartments, as well as 30 cottage-style residences and 38 memory care suites, to Civitas’ inventory.
YUMA, ARIZ. — Cushman & Wakefield Senior Housing Capital Markets has negotiated a $9 million loan for Mission Senior Living. The capital will be used to build River Valley Estates, an 88-unit assisted living and memory care community in Yuma. River Valley Estates will feature 56 assisted living units and 32 memory care units in a 66,000-square-foot building on a 5.3-acre site. It will be Mission’s fifth property and third ground-up development. The Cushman & Wakefield team of..