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Seniors Housing

Solvere Senior Living to Open $59.1M Seniors Housing Community in New Jersey

HAMILTON TOWNSHIP, N.J. — Solvere Senior Living will open Homestead at Hamilton, a $59.1 million seniors housing community in New Jersey, on Feb. 8. The project is located in the Trenton suburb of Hamilton Township, midway between New York City and Philadelphia. It will feature 96 independent living apartments, 75 assisted living apartments and 24 memory care apartments. The four-story building sits on a 24-acre site. Pike Construction Co. built the property, which J. Randolph Parry..

January 18, 2018

Cushman & Wakefield Arranges $20.5M Construction Financing for Seniors Housing Community in Pennsylvania

CHADDS FORD, PA. — Cushman & Wakefield Senior Housing Capital Markets has raised equity and arranged $20.5 million in financing for the construction of The Residence at Chadds Ford, an 84-unit independent living, assisted living and memory care community in the Philadelphia suburb of Chadds Ford. The borrower is LCB Senior Living, which is building the community. It will be the company’s 15th seniors housing property, and its first in the Philadelphia metro. The community is located along..

January 17, 2018

Ziegler Arranges $75M Bond Refinancing for 483-Unit CCRC in Seattle

SEATTLE — Ziegler has closed $75 million in bond financing for Horizon House, a 482-unit continuing care retirement community (CCRC) in downtown Seattle. Horizon House is a nonprofit community affiliated with the Pacific Northwest Conference of the United Church of Christ. The property is home to more than 540 residents in 378 independent living apartments, 80 assisted living apartments and 25 memory care apartments. Horizon House will use the proceeds of the bonds to pay off $56.5..

January 15, 2018

SWIDA Breaks Ground on $10.9M Affordable Seniors Housing Community in Swansea, Illinois

SWANSEA, ILL. — Southwestern Illinois Development Authority (SWIDA), in partnership with Bywater Development Group and Bi-State Development, has broken ground on Metro Landing of Swansea near St. Louis. The $10.9 million transit-oriented development will feature 62 affordable seniors housing apartment units adjacent to the Swansea MetroLink Station. St. Louis-based Altman Charter is serving as general contractor for the project, which is scheduled for completion in spring..

January 12, 2018

HJ Sims Provides $80.1M Bond Refinancing for Seniors Housing Portfolio in Pennsylvania

LAFAYETTE HILL, PA. — HJ Sims has completed an $88.1 million bond refinancing for Presby’s Inspired Life, a nonprofit seniors housing operator based in Lafayette Hill. The company owns and operates four market-rate seniors housing communities in the Philadelphia area: Rydal Park in Jenkintown, Rosemont Presbyterian Village in Bryn Mawr, Spring Mill Presbyterian Village in Lafayette Hill, and Broomall Presbyterian Village in Broomall. Presby has worked with HJ Sims since 2009, with the..

January 11, 2018

Joint Venture Plans $52.7M Renovation of Affordable Community in the Bronx

NEW YORK CITY — A joint venture between Fort Schuyler Housing Development Co., Smith & Henzy Advisory Group Inc., MDG Design + Construction LLC, Concord Management of New York and partners has unveiled a $52.7 million renovation and refinancing plan for Fort Schuyler House, a 139-unit affordable seniors housing development in the Bronx. In addition to $15.5 million in capital repairs, the project will preserve the affordability of 138 of the units. The 139th unit is reserved for the..

January 11, 2018

CBRE Arranges Sale of 132-Unit Seniors Housing Community in Metro Dallas

CEDAR HILL, TEXAS — CBRE has arranged the sale of Primrose at Cedar Hill, a 132-unit seniors housing community located in the southwestern Dallas metro of Cedar Hill. Built in 2003, the property was 98 percent occupied at the time of sale. Amenities include a pool, fitness center, business center and an on-site laundry facility. Chris Deuillet and Chandler Sims of CBRE represented the seller, Cedar Hill Seniors Housing LLC, in the transaction. Kaufman Investments purchased the asset for an..

January 11, 2018

Greystone Secures $19M in Refinancing for Two Seniors Housing Assets in Dallas Area

DALLAS AND DESOTO, TEXAS — Greystone has secured the $19 million refinancing of two undisclosed seniors housing assets located in Dallas and nearby suburb DeSoto. The properties, which total 500 units, represent affordable housing options for seniors earning 60 percent or less of the area median income (AMI). Both loans were secured through Freddie Mac’s Targeted Affordable Housing (TAH) Express program.

January 11, 2018

Validus Receives $117.5M Line of Credit from SunTrust to Acquire Three Seniors Housing Assets in Southeast

TAMPA, FLA. — Tampa-based Validus Senior Living has closed a $117.5 million syndicated revolving line of credit with SunTrust Robinson Humphrey for the acquisition of three seniors housing communities located in Louisiana, Florida and Georgia. SunTrust Robinson Humphrey, a division of SunTrust Banks Inc. that provides investment banking services including mergers and acquisitions and private equity financing, served as the lead arranger and bookrunner for the deal, while SunTrust Bank acted..

January 10, 2018

SLIB Brokers Sale of 65-Bed Skilled Nursing Facility in Washington

CASHMERE, WASH. — Senior Living Investment Brokerage has arranged the sale of Cashmere Convalescent Center, a 65-bed skilled nursing facility in Cashmere, located between Seattle and Spokane. The price was not disclosed. A regional owner-operator based in Idaho purchased the property, seeking to expand its footprint beyond the northern Rocky Mountain region. The 21,820-square-foot facility sits on four acres of land, leaving room for future expansion. Jason Punzel, Brad Goodsell and..

January 5, 2018