REBusinessOnline

Dominium Opens 163-Unit Affordable Seniors Housing Property in Suburban Minneapolis

APPLE VALLEY, MINN. — Dominium has completed development of The Legends of Apple Valley, a 163-unit affordable seniors housing property located 20 miles south of Minneapolis. Residents who are 55 and older and who earn up to 60 percent of the area median income are eligible to live at the property. Amenities include a fitness center, community room, theater room and a beauty salon. Eagle Building Co. was the general contractor. Dominium’s Legends portfolio comprises 2,100 units of …

Presbyterian Senior Living Completes $10M Expansion at CCRC in Pennsylvania

PHILIPSBURG, PA. — Presbyterian Senior Living has completed a $10 million expansion at Windy Hill Village, a continuing care retirement community (CCRC) in the Central Pennsylvania borough of Philipsburg. The project added a 48-unit apartment building to the property. The expansion was based on the Passive House design, which requires 50 percent less energy than other heating and cooling systems. Dan Rothschild served as the project architect. Of the 48 total units, eight are priced at market …

Dougherty Provides $34M HUD-Insured Loan for Construction of Seniors Housing Property in St. Paul

ST. PAUL, MINN. — Dougherty Mortgage LLC has provided a $34 million HUD-insured loan for the construction of The Legends at Berry Senior in St. Paul. The 241-unit affordable seniors housing property will be situated on the former Weyerhaesuer Lumber site. All of the units will be restricted to persons age 62 and older who earn 60 percent or less of the area median income. Amenities will include a beauty salon, craft room, community room, fitness room, theater room, courtyard and patio. The …

Mission Senior Living Starts Construction of $8M Community in Nevada

MESQUITE, NEV. — Mission Senior Living has started construction of Mesa Valley Estates Assisted Living and Memory Care, an $8 million seniors housing community in Mesquite, near the Arizona border. The 61,386-square-foot, one-story community will feature 54 assisted living apartments and a memory care neighborhood with 24 apartments. Project partners include Pinnacle Architects and MSL Construction. The project is scheduled for completion in summer

Capital One Provides $47.2M HUD Refinancing for Three Skilled Nursing Facilities in Massachusetts

CHELSEA, FALL RIVER, BROCKTON, MASS. — Capital One has provided $47.2 million to refinance a portfolio of skilled nursing facilities in Massachusetts. The three facilities have a combined 512 beds and were purchased as part of a four-facility portfolio in 2016. The properties are Eastpointe Rehabilitation and Skilled Care Center in Chelsea with 195 beds, Southpointe Rehabilitation and Skilled Care Center in Fall River with 152 beds, and Baypointe Rehabilitation and Skilled Care Center in …

STCC Provides $11.2M Financing for Two Seniors Housing, Retail Redevelopment Projects in Richmond

RICHMOND, VA. — SunTrust Community Capital (STCC) has provided $11.2 million in financing for two redevelopment projects in Richmond’s historic Jackson Ward neighborhood. The Community Preservation and Development Corp. (CPDC) is leading the redevelopments, which will replace current public housing with new workforce housing, seniors housing and retail. The first project, dubbed Jackson Ward, will include 72 newly constructed, one-bedroom seniors housing units in a four-story building. The …

Cohen Financial Arranges $4.1M HUD-Insured Loan for Refinancing of Assisted Living Community in Michigan

ALMA, MICH. — Cohen Financial, a division of SunTrust Bank, has arranged a $4.1 million HUD-insured loan for the refinancing of Arbor Grove Assisted Living in Alma, which is located in Central Michigan. The assisted living community includes 41 units. Cathy Bronkema of Cohen arranged the fixed-rate loan, which is fully amortized over 35 years. The borrower was a Grand Rapids, Mich.-based senior living owner and

Big Rock, Kiawah Partners to Develop $125M Seniors Housing Community Near Charleston, South Carolina

KIAWAH ISLAND, S.C. — Big Rock Partners, in a joint venture with Kiawah Partners, has unveiled plans to develop a $125 million seniors housing community on Kiawah Island, a barrier island located 21 miles southwest of Charleston. The 200-unit community will be for residents ages 55 and older and will include independent living, assisted living and memory care units. The unnamed project will be built overlooking a lake next to the Freshfields Village shopping center. “There’s been …

LCS Acquires 299-Unit Continuing Care Community in New Jersey

BRIDGEWATER, N.J. — LCS has acquired Arbor Glen, a continuing care retirement community (CCRC) in Bridgewater, for an undisclosed price. Located southwest of New York City, the community sits on 23 acres and features 183 independent living units, 19 independent living villas, 23 assisted living units, 10 memory care units and 64 skilled nursing beds. LCS changed the community’s name to Laurel Circle and plans to implement an $8 million capital improvement plan at the property. The seller …

Tradition Breaks Ground on 23-Story Seniors Housing Property in Houston

HOUSTON — Tradition Senior Living has broken ground on The Tradition-Woodway, a 23-story seniors housing property that will be located in the Tanglewood area of Houston. The community will feature 222 independent living residences and 92 assisted living/memory care units. Amenities will include lounges and card rooms, a movie theater, indoor golf simulator, indoor pool, fitness center, dog park and a putting green. Jackson & Ryan Architects is handling design of the project and D.E. …