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Seniors Housing

MorningStar-Arcadia-Phoenix-AZ
AcquisitionsArizonaMultifamilySeniors HousingWestern

LTC Acquires Assisted Living, Memory Care Community in Phoenix for $54M

by Amy Works

PHOENIX — LTC Properties has acquired MorningStar at Arcadia, an assisted living and memory care community located in Phoenix, for $54 million. The community is being added to LTC’s seniors housing operating portfolio (SHOP).  MorningStar will continue to operate the property, which totals 104 units, on behalf of LTC. LTC launched its SHOP platform in May 2025.  “Since our platform launch, we have partnered with 11 SHOP operating partners, nine new to LTC,” says Michael Bowden, senior vice president of investments at LTC. “We continue to build our acquisition pipeline with a healthy volume of potential SHOP acquisitions, supporting our strategy to position LTC for higher intrinsic growth.”

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Affordable HousingColoradoDevelopmentMultifamilySeniors HousingWestern

MGL Partners to Develop Affordable Seniors Housing Property at Former Hospital Campus in Colorado

by Amy Works

WHEAT RIDGE, COLO. — Denver-based MGL Partners will develop an affordable seniors housing community in Wheat Ridge, approximately 10 miles outside downtown Denver.  The community will be situated within the redevelopment of the former Lutheran Hospital campus. MGL Partners recently executed a purchase-and-sale agreement with E5x Management, which is leading the redevelopment of the hospital campus, for the project site.  Dubbed Legacy Terrace Apartments, the community will feature 50 units for residents age 62 and older earning between 30 and 80 percent of the area median income. MGL Partners plans to pursue Low-Income Housing Tax Credit financing and Colorado state tax credits in February 2027.  Construction is anticipated to begin following financing approvals. 

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AcquisitionsLoansMidwestMultifamilyOhioSeniors Housing

Red Oak Capital Provides $11.1M Bridge Loan for Assisted Living Community in Dayton, Ohio

by Kristin Harlow

DAYTON, OHIO — Red Oak Capital Holdings LLC has provided $11.1 million in financing for the acquisition and capital improvements of Cottages of Clayton, a 90-unit assisted living community in Dayton. The bridge loan features an 18-month initial term and a loan-to-stabilized value of 69 percent. Stratos Athanassiades of Red Oak originated the loan, which was underwritten by Thomas Gorski and administered by James Myatt. The borrower, Clayton Realco LLC, is a private investor group that owns and operates 12 senior living communities. Built in 1999, Cottages of Clayton features seven cottage-style buildings with 90 studio units. Each building contains its own kitchen, laundry facilities and resident lounge areas. Amenities include a dining room, activity room, salon and outdoor spaces.

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DevelopmentMultifamilySeniors HousingTexas

Harbert South Bay Breaks Ground on 162-Unit Seniors Housing Project in Dallas

by Taylor Williams

DALLAS — Harbert South Bay has broken ground on The Marianne on Inwood, a 162-unit seniors housing project in Dallas. The site is adjacent to the Highland Park area, and the 294,000-square-foot facility will offer independent living, assisted living and memory care residences. Amenities will include multiple dining venues, indoor and outdoor pools, a gym, hair salon, media lounge and a golf simulator. Project partners include Arcadis (architect), Bozzuto Construction (general contractor) and Momentum Senior Living (operator). Completion is scheduled for 2027.

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DevelopmentMultifamilySeniors HousingWashingtonWestern

PMB, The Springs Living Break Ground on 225-Unit Senior Living Community in Issaquah, Washington

by Amy Works

ISSAQUAH, WASH. — Co-developers PMB and The Springs Living have broken ground on a 225-unit senior living community in Issaquah, roughly 20 miles southeast of Seattle. Makenzie and GBD Architects designed the project, and Exxel Pacific is serving as the general contractor. Harrison Street Asset Management, Huntington National Bank, BOK, MVB, First National Bank Alaska and Northwest Bank are providing financing.  Upon completion, The Springs Living at Issaquah Highlands will span 329,250 square feet. Units will include 114 independent living, 84 assisted living and 27 memory care apartments. The community is scheduled to open in late 2028. This marks the second co-development between The Springs Living and PMB. 

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Alders-Magnolia
AcquisitionsMultifamilySeniors HousingTexas

Berkadia Brokers Sale of 184-Unit Active Adult Complex in Magnolia, Texas

by Taylor Williams

MAGNOLIA, TEXAS — Berkadia has brokered the sale of Alders Magnolia, a 184-unit active adult complex located roughly 40 miles northwest of Houston. Built in 2021, the property offers amenities such as a pool, spa, theater, fitness center, demonstration kitchen, coffee bar, private wine lockers, a putting green, bocce ball court and a lounge. Aspens Senior Living acquired the community from Capitol Seniors Housing for an undisclosed price. Cody Tremper, Mike Garbers, Ross Sanders and Dave Fasano of Berkadia brokered the deal.

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DevelopmentMultifamilySeniors HousingTexas

LifeCare Development Underway on 117-Unit Seniors Housing Project in College Station

by Taylor Williams

COLLEGE STATION, TEXAS — LifeCare Development is underway on construction of a 117-unit seniors housing project in College Station. The Blake at College Station will offer 73 assisted living units and 44 memory care units, in addition to various culinary- and wellness-themed amenities. Blake Management Group will operate the property. Completion is scheduled for 2028.

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DevelopmentIllinoisMidwestMultifamilySeniors Housing

North Arrow, Turnstone Development to Build 36-Unit Seniors Housing Project in Du Quoin, Illinois

by Kristin Harlow

DU QUOIN, ILL. — North Arrow Partners, in partnership with Turnstone Development, has closed on the financing and commenced construction on The Blackstone, a 36-unit seniors housing development in Du Quoin, a city in southern Illinois. Located at 1223 S. Washington St., the two-story independent living property will be reserved for seniors age 55 and up. Amenities will include a garden and fitness center. The Illinois Housing Development Authority, Hudson Capital and Associated Bank are providing financing and support.

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500-Lynnfield-Street-Lynn-Massachussetts
Affordable HousingMassachusettsMultifamilyNortheastSeniors Housing

MassDevelopment Provides $29M in Bond Financing for Affordable Seniors Housing Project in Lynn, Massachusetts

by Taylor Williams

LYNN, MASS. — MassDevelopment has provided $29 million in tax-exempt bond financing for a 150-unit affordable seniors housing project in Lynn, located northeast of Boston. The financing will support construction of 105 units for the project at 500 Lynnfield St., which is being developed by an affiliate of 2Life Communities. The development will consist of three buildings with 138 one-bedroom units and 12 two-bedroom units that will be reserved for renters earning between 30 and 60 percent of the area median income. Eastern Bank purchased the bond.

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Marisol-Huntington-Beach-CA
CaliforniaDevelopmentMultifamilySeniors HousingWestern

Bluhm Family Foundation Breaks Ground on 214-Unit Seniors Housing Community in Huntington Beach, California

by Amy Works

HUNTINGTON BEACH, CALIF. — The Bluhm Family Foundation has broken ground on The Marisol, a 214-unit luxury seniors housing project located in Huntington Beach in Southern California. In May, the developer received $252.1 million in bond financing for the project.  Upon completion, the community will feature a mix of studio, one- and two-bedroom apartments. Amenities will include a coffee and snack bar, community store, wellness lounge, pool, spa, beauty salon, golf simulator, gym, art studio, craft studio, community room and three courtyards.  The opening is scheduled for 2028. Momentum Senior Living will manage the community. 

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