VANCOUVER, WASH. — Prestige Care, a Vancouver-based operator of seniors housing communities in the West, has acquired six seniors housing communities in Washington and Idaho from industry pioneer Carl Campbell. The price was not disclosed. Prestige expects the sales to close this fall. The communities will be rebranded as: Prestige Senior Living at Colonial Vista, independent and assisted living, Wenatchee, Wash. Colonial Vista Post-Acute & Rehabilitation Center, skilled nursing, Wenatchee, Wash. Prestige Senior Living at East Wenatchee, independent and assisted living, East Wenatchee, Wash. Prestige Senior Living at Hearthstone, independent and assisted living, Ellensburg, Wash. Prestige Senior Living at Karcher Estates, independent and assisted living, Nampa, Idaho Karcher Post-Acute & Rehabilitation Center, skilled nursing, Nampa, Idaho
TUCSON, ARIZ. — Core Spaces has opened Tucson II, a 104-unit student housing community located a few blocks away from the University of Arizona campus in Tucson. Tucson II offers studio, two-, three-, four- and five-bedroom, fully furnished apartments with custom designed furniture, floor-to-ceiling windows and 42-inch flat-screen televisions. Community amenities include a fitness center; spa featuring sauna and tanning beds; rooftop sundeck with pool, oversized hot tub, lounging and gaming areas and private, poolside cabanas; outdoor terrace with fire pits and custom barbecue grill; executive business center with computers and printers; and free, building-wide wi-fi.
SEATTLE — Ziegler, a specialty investment bank, has priced $130.3 million in fixed-rate bonds for Presbyterian Retirement Communities Northwest (PRCN), a nonprofit operator of three continuing care retirement communities (CCRCs) in Seattle. The bonds, which are expected to close in October, will refinance $98.9 million in existing bonds. The remaining funds will be used for renovations at Park Shore and Fred Lind Manor, two of the company’s CCRCs.
CHARLOTTE, N.C. — Singh Development has opened Waltonwood Cotswold, a 120,000-square-foot assisted living and memory care community in the Cotswold submarket of Charlotte. The community is Singh’s second Waltonwood-branded community in Charlotte. Development costs were estimated at $40 million. Waltonwood Cotswold is built on more than eight acres and features 91 assisted living apartments and 26 memory care apartments. Leah Nash is executive director of the new community. Singh currently owns and operates nine other Waltonwood communities in Michigan and North Carolina and has several other communities in development and under construction in North Carolina, northern Virginia and the greater Washington, D.C., area.
VIRGINIA BEACH, VA. — Greystone has provided a $33.3 million construction loan for The Choices at Holland Windsor, a 252-unit apartment community in Virginia Beach. The property will comprise seven buildings located at the intersection of Holland Road and Windsor Oaks. Donny Rosenberg of Greystone arranged the HUD 221(d)(4) loan, the company’s first new construction transaction to utilize HUD’s 2016 MAP Guide standards for a lower mortgage insurance premium (MIP) threshold based on green and energy efficiency multifamily housing requirements. The design also satisfies EarthCraft Multifamily Certification, a green standard recognized by HUD. The Choices will feature Energy Star appliances, interior and exterior LED lighting and construction materials made from recycled products.
MADISON, ALA. — Metropolitan Capital Advisors has arranged $18.8 million in construction financing for Shepherd Living at the Range, a 124-bed assisted living and memory care community in the Huntsville suburb of Madison. Cobalt Seniors and Shepherd Health are co-developing the 91,000-square-foot community, which is situated on 13.7 acres. Kevan McCormack of Metropolitan Capital arranged the loan through an unnamed regional credit union.
GAINESVILLE, FLA. — Colliers International has arranged the sale of two student housing properties near the University of Florida in Gainesville. Dispositions include The Polos, a 1,104-bed community offering one-, two- and three-bedroom apartments; and Lexington Crossing, a 1,020-bed community offering two-, three- and four-bedroom apartments. Community amenities at The Polos include three swimming pools, a hot tub, 24-hour fitness center, dog park and an indoor racquetball court. Community amenities at Lexington Crossing include two resort-style swimming pools, a media lounge, 24-hour fitness center, sand volleyball courts, tennis courts and basketball courts.
MINOT, N.D. — Investors Real Estate Trust, a publicly traded REIT based in Minot, has entered into six separate sales agreements with Edgewood Senior Living and its affiliates. The deals will result in Edgewood buying 26 IRET-owned seniors housing communities and one standard multifamily community for $236 million. Edgewood already operates 25 of the 26 seniors housing communities. The deal is expected to close before the end of the year. The six separate transactions are organized like so: IRET will sell five seniors housing properties containing 386 rentable units, located in Cheyenne, Casper, and Laramie, Wyo., for a total of $53 million. IRET will sell two seniors housing properties containing 256 rentable units, both located in Hermantown, Minn., forapproximately $36.8 million. IRET will sell four seniors housing properties containing 220 rentable units, located in Virginia, Minn.; Kalispell, Mont.; and Omaha and Hastings, Neb. For approximately $32.3 million. IRET will sell five seniors housing properties containing 514 rentable units, located in East Grand Forks and Brainerd, Minn.; Bismarck and Fargo, N.D.; and Rapid City, S.D., for approximately $71 million. IRET will sell nine seniors housing properties containing 278 rental units, located in North Dakota, South Dakota, Nebraska and Montana, for approximately $28.8 …
BRUSH, COLO. — Eben Ezer Lutheran Care Center has selected OZ Architecture, a Denver-based firm, to redesign the assisted living and memory care community, located in Brush, approximately 90 miles northeast of Denver. Eben Ezer currently offers 54 assisted living units and 18 memory care units. The improvements will span 54,000 square feet, with the goal of increasing capacity and improving the campus. The community is over 100 years old and features a historic church at the heart of the campus. OZ’s design will build upon the previously developed master plan for the campus. Construction is slated to begin this month.
NEW YORK CITY — Three private investors, JD Broadway Realty, JE Broadway Realty and 90-31 Whitney Broad, have acquired a multifamily building located at 90-31 Whitney Ave. in the Elmhurst section of Queens. Whitney LLC sold the six-story property for $17 million. Built in 1936, the 67,200-square-foot building features 60 apartments. Aaron Jungreis of Rosewood Realty Group represented the seller, while Michael Guttman, also of Rosewood, represented the buyer in the deal.