Thursday, January 22, 2026
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Seniors Housing

DevelopmentFloridaMultifamilySeniors HousingSoutheast

United Group Begins Construction on 152-Unit Active Adult Development in Winter Park, Florida

by John Nelson

WINTER PARK, FLA. — The United Group of Cos. has begun construction on Terracotta Terrace, an active adult community in Winter Park, roughly six miles northeast of Orlando. Upon completion, the property will total 152 units reserved for residents age 55 and older. Residences will include one- and two-bedroom apartments, as well as penthouses. Additionally, the community will feature 12,000 square feet of amenity space. Amenities will include a pool, outdoor bar and kitchen, dog park, bocce ball, shuffleboard courts, fire pits, cabanas, a great room, café and bar area, movie theater, fitness center, yoga studio and a wellness center with a salon, massage studio and sauna. Completion of construction is scheduled for the fourth quarter of 2027. The project team includes Winter Park Construction and Forum Architecture & Design. United Plus Property Management, the management arm of United Group, will operate the community.

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LoansMultifamilySeniors HousingTexas

KeyBank Provides $157.2M in Financing for Texas Skilled Nursing Portfolio

by Taylor Williams

TEXAS — KeyBank Real Estate Capital has provided $157.2 million in financing for a portfolio of seven skilled nursing facilities in Texas. The facilities are located in Mission, McAllen, Weslaco, Rio Grande City, Spring, Seguin and Eagle Pass. The number of beds was not disclosed. Grant Saunders, Peter Trazzera and Patrick Gilbreath of KeyBank originated the financing, which carries a 35-year term and a fixed interest rate, through the FHA’s 232/223(f) mortgage insurance program. The borrower is Wellsential Health.

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AcquisitionsMidwestMinnesotaMultifamilySeniors Housing

Marcus & Millichap Negotiates $6.5M Sale of Seniors Housing Community in Faribault, Minnesota

by Kristin Harlow

FARIBAULT, MINN. — Marcus & Millichap has negotiated the $6.5 million sale of Pleasant View Estates, a 36-unit assisted living and memory care facility in Faribault, about 50 miles south of Minneapolis. Built in 1998, the property sits on 4.8 acres at 41 Brand Ave. The 44,300-square-foot facility includes 24 one-bedroom units and 12 two-bedroom units. Approximately 75 percent of the residents are Medicaid assisted living facility occupants. The building is connected to a vacant skilled nursing home formerly known as Pleasant Manor. Ray Giannini of Marcus & Millichap represented the seller, Monarch Healthcare Management, and procured the buyer, a regional private investor.

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Valara-Henderson-NV
DevelopmentMultifamilyNevadaSeniors HousingWestern

Investcor Plans 244-Unit Luxury Senior Living Project Near Las Vegas

by Amy Works

HENDERSON, NEV. — Investcor has announced plans for a new, 244-unit luxury senior living project in Henderson, a city located roughly 15 miles southeast of Las Vegas. The City of Henderson is currently reviewing the project plans.  Upon completion, the community, dubbed Valara, will feature independent living, assisted living and memory care residences within one building. Valara will be situated adjacent to a Whole Foods within The District at Green Valley Ranch, a mixed-use development. Planned amenities at the community include a tearoom, whiskey lounge, multiple restaurants and private dining rooms, an indoor/outdoor bar, gardening programs, educational classes, a movie theater, two fitness centers, a steam room and sauna with an outdoor pool, recreation and activity programming and a pet spa.  Development and investment firm Investcor’s current portfolio totals over $1.6 billion in real estate projects across the hospitality, residential, mixed-use and senior living sectors. 

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LoansMultifamilyOregonSeniors HousingWestern

PLG Provides $25.6M C-PACE Financing for Seniors Housing Development in Oregon

by Amy Works

TIGARD, ORE. — PACE Loan Group (PLG) has provided $25.6 million in Commercial Property Assessed Clean Energy (C-PACE) financing for a seniors housing development currently underway in Tigard, roughly 10 miles outside downtown Portland. Mosaic is the developer and borrower.  Construction on the community, Cedarbrook Senior Living, began this year. Upon completion, which is scheduled for early 2028, the development will feature one four-story building with 107 assisted living units and 64 memory care beds.  PLG worked with Countryman Capital Partners to orchestrate the development’s capital stack. Financing for the project also includes a $41.6 million construction loan and mini-perm mortgage provided by Columbia Credit Union.  STEELE Associates Architects is the architect for Cedarbrook Senior Living, and Mosaic Construction is serving as the general contractor. Mosaic Management will operate the property upon opening. 

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AcquisitionsColoradoMultifamilySeniors HousingWestern

Morgan Stanley Purchases Seniors Housing Portfolio in Metro Denver for $305M

by Amy Works

DENVER — Investment funds managed by Morgan Stanley Real Estate Investing (MSREI) have acquired a seniors housing portfolio for $305 million. Kayne Anderson was the seller. Totaling 463 units, the portfolio features three communities located near Denver.  “We are pleased to acquire this high-quality portfolio of seniors housing communities, which has demonstrated strong historical performance,” says Will Milam, head of U.S. investments at MSREI.  “As people age, their real estate needs evolve, and as the first baby boomers are turning 80 this year, demand for seniors housing is rising rapidly. We expect this sector to grow nearly 5 percent annually over the next five years as this population cohort expands.” MorningStar will continue to operate the communities on behalf of the new ownership.  Funds managed by MSREI currently have an ownership interest in approximately 30 senior living communities comprising 3,000 units across the United States.  

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The-Springs-at-Sunnyside-Portland-OR
AcquisitionsLoansMultifamilyOregonSeniors HousingWestern

JLL Arranges Sale, Financing of 87-Unit Seniors Housing Community in Portland

by Amy Works

PORTLAND, ORE. — JLL Capital Markets has completed the sale and financing of Morningstar at Happy Valley, an assisted living and memory care property in Portland. Confluent Development sold the property to Harrison Street, in partnership with The Springs Living, for an undisclosed price. The buyer will rebrand the 87-unit property as The Springs at Sunnyside. The Springs Living will operate the asset. Jay Wagner, Rick Swartz, Aaron Rosenzweig, Dan Baker, Jim Dooley and Dean Ferris of JLL represented the seller. Alanna Ellis of JLL led the financing efforts on behalf of the buyer. JLL secured a five-year acquisition loan with Huntington National Bank for Harrison Street. Built in 2019, The Springs at Sunnyside offers 61 assisted living units across a mix of studios, one- and two-bedroom units in addition to 26 private memory care units. The three-story building features all-day restaurant-style dining, a 24-hour bistro, chapel, theater, library, general store, massage room, outdoor courtyards, barbecue and fire pits, beauty salon, fitness room and raised garden beds. Onsite services include wellness programs and activities, a full-time licensed nurse, 24-hour care staff and scheduled transportation.

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AcquisitionsFloridaSeniors HousingSoutheast

Berkadia Brokers Sale of 94-Unit Independent Living Community in Niceville, Florida

by John Nelson

NICEVILLE, FLA. — Berkadia has brokered the sale of American House Bluewater Bay, a 94-unit independent living community located in Niceville, roughly 10 miles northeast of Destin, Fla. Built in 2015, the community was more than 95 percent occupied at the time of sale. Michigan-based real estate development and investment company REDICO sold the property. American House, the senior living operator affiliate of REDICO, will continue to operate the community on behalf of the new ownership.

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AcquisitionsMultifamilySeniors HousingTexas

Unbridled Living Acquires 273-Unit Seniors Housing Community in Dallas

by Taylor Williams

DALLAS — Unbridled Living has acquired The Reserve at North Dallas, a 273-unit seniors housing community in Dallas. Built in 2000, the property features 247 independent living apartments and 26 assisted living units. Amenities include a bistro, game room, wellness center, hair salon, library, media room, resident lounge and a putting green. Jay Wagner, Rick Swartz, Aaron Rosenzweig, Jim Dooley and Dan Baker of JLL represented the undisclosed seller in the transaction. Allison Holland, also with JLL, arranged acquisition financing through Arrowmark Partners on behalf of Unbridled Living. The loan carries a three-year term with two 12-month extension options.

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AcquisitionsMultifamilySeniors HousingTexas

Helios Brokers Sale of Restored Assisted Living Facility in Denton, Texas

by Taylor Williams

DENTON, TEXAS — Helios Healthcare Advisors has brokered the sale of a restored assisted living facility in Denton. Fairhaven Denton Assisted Living was originally developed in the mid-1950s and closed in 2007. In 2019, Austin-based developer Investcor acquired Fairhaven and executed an $8 million renovation of the property, which is now featured on the National Register of Historic Places. Fairhaven reopened in fall 2020 and is now operated by Enriched Senior Living. Helios represented Investcor in the transaction. The buyer was a California-based owner-operator. Fairhaven Denton more than 95 percent occupied at the time of sale.

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