Thursday, November 6, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Seniors Housing

AcquisitionsMidwestMinnesotaMultifamilySeniors Housing

JLL Arranges Sale of 166-Unit Seniors Housing Property in Bloomington, Minnesota

by Kristin Harlow

BLOOMINGTON, MINN. — JLL Capital Markets has arranged the sale of Hayden Grove Bloomington, a 166-unit seniors housing property in the Minneapolis suburb of Bloomington. Delivered in 2021, the four-story building offers a continuum of care from independent living to assisted living to memory care. Amenities include underground parking, a private dining room, bistro, coffee lounge, game room, party room, theater, event center, library, craft room, beauty salon and fitness program. JLL represented the seller, Verdot Capital. The buyer was undisclosed. The operator, Great Lakes Management, will stay in place to manage the community.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsCompany NewsFloridaSeniors HousingSoutheast

Sonida Senior Living to Acquire CNL Healthcare Properties for $1.8B

by John Nelson

DALLAS AND ORLANDO, FLA. — Seniors housing owner and operator Sonida Senior Living Inc. (NYSE: SNDA) has entered into a definitive merger agreement to acquire CNL Healthcare Properties (CHP), a non-traded public REIT, in a deal valued at $1.8 billion. Upon completion of the merger, the combined company will be the eighth-largest senior living owner, with a portfolio of 153 independent living, assisted living and memory care communities and enterprise value of $3 billion. Under the agreement, Dallas-based Sonida will acquire 100 percent of CHP in a cash and stock transaction. The transaction is expected to close in the first or second quarter of 2026, subject to customary closing conditions. Both the Sonida and CHP board of directors unanimously approved the merger.   Financing for the acquisition will include cash provided by Conversant Capital and Silk Partners — the two largest Sonida shareholders — and debt financing from RBC Capital Markets and BMO Capital Markets. Ahead of the merger, Sonida’s portfolio comprises 97 seniors housing communities that the company owns, manages or invests in, including 84 owned properties. In total, the portfolio serves roughly 10,250 residents. CHP’s current portfolio comprises 69 seniors housing communities with 7,535 units across 26 states.

Continue Reading
FacebookTwitterLinkedinEmail
Friendship-Village-Tempe-AZ
ArizonaDevelopmentMultifamilySeniors HousingWestern

LCS Development Underway on Third Phase of Renovations at 50-Acre CCRC in Tempe, Arizona

by Amy Works

TEMPE, ARIZ. — LCS Development is underway on the third phase of a master-planned renovation at Friendship Village Tempe, a 50-acre continuing care retirement community located in Tempe.  Construction has begun on the phase, which will include the removal of an existing structure and the addition of a new, five-story building. Upon completion, which is planned for the fourth quarter of 2027, the building will total 175,900 square feet with 69 independent living apartments, two guest suites and below-grade parking. Units in the building will range in size from 909 to 2,396 square feet. Amenities will include a Del Fuego restaurant and lounge, duckpin bowling lanes, a spa and clinic space, clubrooms and a group exercise area. The building will also offer access to amenities located within other parts of the campus, which include rooftop pickleball courts and Starfire, a full-service rooftop restaurant and microbrewery.  Friendship Village Tempe was originally built in 1980, with the revitalization project beginning in 2019. Ryan Cos. US Inc. is serving as the general contractor for all phases of the renovation. Ryan A+E, the design studio of Ryan Cos., has served as the architect for all three phases. Six total phases of renovation are planned at …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIowaMidwestMultifamilySeniors Housing

Woda Cooper, Parallel Housing Break Ground on 52-Unit Affordable Seniors Housing Community in Iowa

by Kristin Harlow

DAVENPORT, IOWA — Woda Cooper Cos. Inc. and co-developer Parallel Housing Inc. have broken ground on Timber Ridge, a 52-unit affordable housing community for seniors age 62 and older in Davenport. Units are targeted for renters who earn up to 60 percent of the area median income. The three-story building will offer 32 one-bedroom units and 20 two-bedroom apartments. Projected rents are $565 to $975 per month, depending on unit size and income restriction. Amenities will include a multipurpose room, dog park and outdoor seating. Timber Ridge will be ENERGY STAR certified. The City of Davenport approved a HOME loan as part of the project’s financing. Primary financing was supported by the allocation of 9 percent housing tax credits by the Iowa Finance Authority. KeyBank Community Development Lending and Investment provided the construction loan and tax credit equity investment. Cedar Rapids Bank & Trust is providing a permanent mortgage. Timber Ridge marks Woda Cooper’s eighth affordable housing community in Iowa and its first in Davenport. Hooker DeJong Inc. is the architect, Woda Construction Inc. is the general contractor and IMEG Corp. is the civil engineer. Woda Management & Real Estate LLC will handle leasing and property management.

Continue Reading
FacebookTwitterLinkedinEmail
Sarah-Neuman-Skilled-Nursing-Facility-Mamaroneck-New-York
AcquisitionsMultifamilyNew YorkNortheastSeniors Housing

Kiser Group Negotiates $76M Sale of Skilled Nursing Facility in Mamaroneck, New York

by Taylor Williams

MAMARONECK, N.Y. — Chicago-based brokerage firm Kiser Group has negotiated the $76 million sale of the 250-bed Sarah Neuman Skilled Nursing Facility in Mamaroneck, roughly 30 miles northeast of New York City. According to Kiser Group, the property was initially under contract for $84 million, but the first buyer had to withdraw from the transaction due to rising interest rates. Mark Myers led the Kiser Group team that arranged the sale. The seller was an undisclosed religious nonprofit organization. Myers also arranged interim financing on behalf of the buyer, including a $5 million loan, throughout the approval process.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentMultifamilyNew YorkNortheastSeniors Housing

Tredway Completes Renovation of 97-Unit Affordable Seniors Housing Complex in Brooklyn

by Taylor Williams

NEW YORK CITY — Affordable housing owner-operator Tredway has completed the renovation of Greene Clermont Houses, a 97-unit affordable seniors housing complex in Brooklyn. Built in 1985, the seven-story complex is located in the borough’s Fort Greene neighborhood and houses units that are reserved for renters earning 50 percent or less of the area median income. Renovations upgraded units’ flooring, lighting, kitchens and bathrooms, and the community room has been enhanced to include a new kitchen, wellness room, nurse’s station and resident services coordinator office. Tredway partnered with the New York City Department of Housing Preservation and Development on the project, which also served to preserve the property’s affordability status for another 40 years.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentMidwestMissouriMultifamilySeniors Housing

Twelfth Street Heritage, Flaherty & Collins Break Ground on $300M Redevelopment of Kansas City’s Parade Park Homes

by Kristin Harlow

KANSAS CITY, MO. — Twelfth Street Heritage Development Corp. and Flaherty & Collins Properties have broken ground on the $300 million redevelopment of Parade Park Homes, one of the country’s oldest Black-owned housing cooperatives that is located in Kansas City. Plans call for nearly 1,100 multifamily units, 200 of which will be reserved for low-income families and 80 for seniors housing. Additionally, the project will include 27 acres of open green space and 15,000 square feet of community-centered commercial space. Block & Co. Inc. Realtors will serve as the exclusive retail broker for the project. The restoration will include three phases, with Phase I projected to be finished by 2027. The project marks the largest development in East Kansas City’s history, according to Block & Co.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentFloridaSeniors HousingSoutheast

McDowell Housing Begins Construction on $64.7M Affordable Seniors Housing Project in South Florida

by John Nelson

PEMBROKE PARK, FLA. — McDowell Housing Partners has announced the commencement of construction of Ekos at Pembroke Park, a new affordable seniors housing development located in Pembroke Park. Upon completion, the $64.7 million project will total 150 units reserved for seniors earning up to 80 percent of the area median income. This marks the 16th affordable housing project in Florida for McDowell. Amenities at the community will include a clubroom, fitness center, package lockers, bike storage and six electric vehicle charging stations. Nonprofit organization Area Agency on Aging of Broward County will lease a commercial space at the property and offer onsite supportive services to residents age 60 and older. Financing for the development includes tax-exempt bonds and a loan from the Housing Finance Authority of Broward County; a loan from the Florida Housing Finance Corp.; LIHTC equity from U.S. Bank; and senior construction and permanent loans from R4 Capital.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingDevelopmentFloridaMultifamilySeniors HousingSoutheast

ANF Completes 99-Unit Affordable Seniors Housing Community in South Florida

by John Nelson

OPA-LOCKA, FLA. — Construction and development firm ANF has completed the construction of Wellspring Apartments, a new affordable seniors housing community located in Opa-locka, roughly 15 miles northwest of Miami. The Integral Group was the developer. Totaling 99 units, Wellspring Apartments features studio, one- and two-bedroom apartments. Residences are reserved for seniors earning at or below 60 and 50 percent of the area median income (AMI), with 67 units reserved for residents earning at or below 50 percent of AMI and 32 units reserved for residents earning at or below 60 percent of AMI. Amenities at the 81,350-square-foot property include a computer and library room, fitness center, community center with a full kitchen and a covered terrace.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsAffordable HousingConnecticutMultifamilyNortheastSeniors Housing

CBRE Brokers $39.7M Sale of Connecticut Affordable Seniors Housing Portfolio

by Taylor Williams

DANBURY AND NORWALK, CONN. — CBRE has brokered the $39.7 million sale of a portfolio of two affordable seniors housing properties totaling 169 units in Connecticut. Residences at both the 116-unit Kimberly Place in Danbury and the 53-unit One Leonard in Norwalk are reserved for renters age 62 and above. Simon Butler, Biria St. John, Jeff Dunne, Eric Apfel, Tim Flint and Taylor Froland of CBRE represented the seller, an affiliate of First Atlantic LLC, in the transaction and procured the buyer, an affiliate of Heritage Housing Inc.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts