REBusinessOnline

Suffolk Breaks Ground on Seniors Housing Community in South Florida

ROYAL PALM BEACH, FLA. — Suffolk has broken ground on Inspired Living at Royal Palm Beach, a 106,562-square-foot facility that features 72 assisted living units and 32 memory care beds. The South Florida property will offer 58 studio units, 14 one-bedroom units and a 32-bed memory care center. Home Communities and Reichmann International are the co-developers, and Studio+ designed the freestanding facility. Suffolk expects construction to be complete by summer

Highridge Costa to Break Ground on Multifamily Phase of Kulana Hale Project in Hawaii

KAPOLEI, HAWAII — Highridge Costa will hold a groundbreaking ceremony on Aug. 28 for the second phase of the $130 million Kulana Hale mixed-use affordable seniors housing and multifamily apartment project located at 1020 Wakea St. in Kapolei. Kulane Hale Phase II will feature a 13-story tower with 2,300 square feet of ground-floor retail space and 143 affordable apartments for low-income families. The second-phase tower will be built over a two-level concrete podium structure that will …

Blueprint Arranges Sale of 103-Bed Skilled Nursing Facility in Tucson

TUCSON, ARIZ. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Santé of Tucson, a 103-bed short-term rehabilitation and transitional care facility in Tucson. The property was built in 2017, but struggled with occupancy and was placed into SEC receivership under the supervision of Thomas Seaman and Associates. Blueprint was brought on to market the property as a turnaround opportunity with a HUD assumption. A Chicago-based owner-operator that recently had success …

NorthMarq Arranges $7.6M Refinancing for Seawind Seniors Apartments in Oxnard, California

OXNARD, CALIF. — NorthMarq has arranged $7.6 million in financing for Seawind Seniors Apartments, an age-restricted community in Oxnard, approximately 65 miles west of Los Angeles. The property features 101 units restricted to residents over age 55. The apartments are marketed as affordable. Marty Meagher and Gardiner Champlin of NorthMarq’s San Diego office arranged the fixed-rate, Fannie Mae loan with a 10-year, interest-only term. The financing pays off existing

Dougherty Mortgage Provides $1.8M Refinancing for Senior Apartments in Duluth, Minnesota

DULUTH, MINN. — Dougherty Mortgage LLC has provided a $1.8 million HUD-insured loan for the refinancing of Lakeland Shores Apartments in Duluth, which is located along Lake Superior. The 46-unit community is restricted to disabled persons and residents age 62 and above. The property was originally constructed in 1987 and expanded in 2004. Units will be renovated as part of the refinancing, which features a 35-year term. St. Francis of Assisi Inc. was the borrower. Ecumen manages the

Canyon Partners Invests $10.9M in West Oaks Seniors Housing Project in California

THOUSAND OAKS, CALIF. — Canyon Partners Real Estate LLC has provided $10.9 million of preferred equity to Griffin Living for the construction of a seniors housing community in Thousand Oaks, approximately 40 miles west of Los Angeles. The community is West Oaks, a Class A development featuring 58 assisted living units and 28 memory care units in a 103,704-square-foot, two-story building. Irwin Partners Architects designed the property. “The Thousand Oaks community is an underserved …

Ziegler Arranges $44.1M Bond Financing for Seniors Housing Community Near Philadelphia

GLADWYNE, PA. — Ziegler has arranged $44.1 million in bond financing for Waverly Heights, which owns and operates a continuing care retirement community (CCRC) of the same name in Gladwyne, located northwest of Philadelphia. The 63-acre community was built in 1986 and includes 151 independent living apartments, 69 independent living villas, 33 personal care suites, 16 memory support rooms and 49 private skilled nursing rooms. The bond financing, along with other available funds, will be used …

Koelsch Communities Completes $40M Seniors Housing Property in Chandler, Arizona

CHANDLER, ARIZ. — Koelsch Communities has completed The Park at Copper Creek, an independent living community in Chandler. The $40 million property features more than 130 apartments. Amenities include a woodworking shop, theatre, veranda, and patio. In addition, there are two interior courtyards, outdoor exercise stations, and fitness center equipped with compressed air workout stations. A classic 1956 Dodge Custom Royal Lancer is also featured near the entrance, a unique feature of …

Carnegie Capital Arranges $29M Loan for Refinancing of Seniors Housing Property in Vermont

VERMONT — Carnegie Capital, a financial intermediary based in Austin, Texas, has arranged a $29 million loan for the refinancing of a seniors housing community in Vermont. The Class A property, the name of which was not disclosed, includes 80 units and offers assisted living and memory care services. The one-year, interest-only loan will be used to refinance existing construction debt. The borrower was also

Public-Private Partnership Breaks Ground on $36M Alameda Point Senior Apartments in Bay Area

ALAMEDA, CALIF. — The City of Alameda, Eden Housing and Alameda Point Partners have broken ground on Alameda Point Senior Apartments, a 60-unit affordable seniors housing community in Alameda, just south of Oakland. Development costs are estimated at $36 million. The community will be located at Alameda Point’s Site A, a $1 billion mixed-use, transit-oriented waterfront development on the site of the former Naval Air Station Alameda, which closed over 20 years ago. Alameda Point Senior …

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