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Seniors Housing

Connery on Providence
LoansNorth CarolinaSeniors HousingSoutheast

JLL Arranges Refinancing for 200-Unit Active Adult Community in Charlotte, North Carolina

by Abby Cox

CHARLOTTE, N.C. — JLL Capital Markets has arranged refinancing for Connery on Providence, a newly constructed, 200-unit active adult community located in Charlotte. Travis Anderson, Brad Woolard, Ryan Mueller and Timothy Hosmer of JLL represented the borrower, Proffitt Dixon Partners, in securing the loan through New York Life Insurance Co. The loan size was not disclosed. Completed in 2023 on nearly 13 acres, Connery on Providence features one- and two-bedroom residences across four three-story buildings. Amenities at the property include a saltwater pool, wellness and fitness center, pickleball courts, spa facilities and concierge services. The community also offers a movie lounge, an overnight guest suite, a demonstration kitchen and dog spa.

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Inspira-Arrowhead-Glendale-AZ
AcquisitionsArizonaMultifamilySeniors HousingWestern

JLL Negotiates Sale of 165-Unit Inspira Arrowhead Seniors Housing Community in Glendale, Arizona

by Amy Works

GLENDALE, ARIZ. — JLL Capital Markets has arranged the sale of Inspira Arrowhead, a seniors housing property in Glendale. A fund managed by affiliates of Fortress Investment Group sold the asset to a confidential buyer for an undisclosed price. JLL’s Senior Housing Capital Markets team represented the seller and procured the buyer in the deal. The firm also arranged nonrecourse acquisition financing for the buyer through a regional bank. Cogir Senior Living has been retained by the buyer to continue operations at the property. Situated on 14.2 acres at 20240 N. 78th Ave., Inspira Arrowhead features 165 independent living, assisted living and memory care units. Onsite amenities include various dining options, a theater, fitness center, pool, salon, barbershop, dog park, social outings and bocce ball.

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Clarendale-Arcadia-Phoenix-AZ
ArizonaLoansMultifamilySeniors HousingWestern

BWE Arranges Refinancing for 248-Unit Seniors Housing Community in Phoenix

by Amy Works

PHOENIX — A joint venture between Harrison Street Asset Management, LCS and Ryan Cos. US Inc. has received refinancing for Clarendale Arcadia, a senior living community located in the Arcadia neighborhood of Phoenix. Ryan Stoll and Taylor Mokris of BWE arranged the financing — which features full-term interest-only payments, an initial 36-month term and two one-year extension options — on behalf of the joint venture.  Completed in 2023, Clarendale Arcadia totals 248 residences, with 240 independent living units, 68 assisted living units and 40 memory care units. Amenities at the property include a bistro, fitness center, heated swimming pool, jacuzzi spa, putting greens, a movie theater, salon and spa, landscaped outdoor spaces and a full-service bar.

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Renaissance Village totals 142 assisted living and memory care units in Murietta, California.
AcquisitionsCaliforniaMultifamilySeniors HousingWestern

SLIB Brokers Sale of 142-Unit Assisted Living, Memory Care Community in Southern California

by Amy Works

MURIETTA, CALIF. — Senior Living Investment Brokerage (SLIB) has arranged the sale of Renaissance Village Murietta, an assisted living and memory care community located in Murietta. Built in 2016 and 2018, the property totals 142 units. Renaissance Village Murietta was the only seniors housing asset owned by the undisclosed seller, which is exiting the sector. A REIT was the buyer. Brad Goodsell, Jason Punzel and Vince Viverito of SLIB brokered the transaction. 

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AcquisitionsMidwestMissouriMultifamilySeniors Housing

Tutera Expands Portfolio with 26 New Senior Living Communities Largely in Midwest

by Kristin Harlow

KANSAS CITY, MO. — Tutera Senior Living & Health Care has added 26 senior living communities to its portfolio through a transaction with AlerisLife and an ongoing partnership with Diversified Healthcare Trust. The expansion, which includes eight owned acquisitions and 18 new management agreements, strengthens Tutera’s Midwest presence. With this addition, Kansas City-based Tutera will operate 108 communities across 11 states, with 66 dedicated senior living communities totaling 5,422 units. The company’s overall portfolio now encompasses 9,755 units, with a mix of 56 percent senior living and 44 percent skilled nursing. The expansion broadens Tutera’s footprint into Tennessee, adding to its presence in Alabama, Illinois, Indiana, Iowa, Kansas, Louisiana, Missouri, Nebraska, Oklahoma and South Carolina. The phased acquisition and transition of the 26 communities is expected to be completed by the end of the year. Some properties will transition to new names under Tutera.

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FeaturesMultifamilySeniors Housing

Middle Market Solutions Emerge for Senior Living Owners

by Kristin Harlow

When Stealers Wheel lamented being “stuck in the middle with you” in their 1972 song of the same name, they were assuredly not intending to sing from the perspective of a senior searching for a place of residence. Nevertheless, the lyric could today very aptly be applied to the predicament that many potential seniors housing residents face.  According to the National Investment Center for Seniors Housing & Care (NIC), the number of middle-income seniors in the United States is projected to almost double by 2029, totaling roughly 14 million seniors. NIC also purports that more than half of these individuals will not have the financial means to pay for seniors housing out of pocket. NIC defines middle-income seniors as those with $25,001 to $74,298 in annual income and assets in its executive summary on the topic of the “forgotten middle,” which was published in 2019.   At the same time, many of these same seniors do not qualify for residence in affordable housing units. “These are older adults — lots of older adults — who don’t qualify for affordable housing but also can’t afford the cost of many private-pay options,” explains John Cochrane, president and CEO of HumanGood, a nonprofit …

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AcquisitionsMultifamilyNew JerseyNortheastSeniors Housing

Continuum Brokers Sale of 270-Unit Continuing Care Retirement Community in Bridgewater, New Jersey

by Taylor Williams

BRIDGEWATER, N.J. — Continuum Advisors has brokered the sale of Laurel Circle, a 270-unit continuing care retirement community located in the Northern New Jersey community of Bridgewater. Totaling 270 units, Laurel Circle features 183 independent living apartments, 19 independent living villas, 30 assisted living residences, 10 memory care units and 28 skilled nursing units. The property also includes several undeveloped acres for future expansion. David Kliewer and Jay Jordan of Continuum arranged the transaction. An affiliate of Maxwell Group and Senior Living Communities was the buyer. The seller, a joint venture that included seniors housing owner-operator LCS, recently invested more than $15 million in capital improvements to the property.

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AcquisitionsMultifamilySeniors HousingTexas

Blueprint Negotiates Sale of 469-Bed Skilled Nursing Portfolio in Texas

by Taylor Williams

CHICAGO — Blueprint HCRE, a Chicago-based seniors housing brokerage firm, has negotiated the sale of a portfolio of five skilled nursing facilities totaling 469 beds in Texas. The names and locations of the properties were not disclosed. The portfolio was 71 percent occupied at the time of sale. A skilled nursing owner and operator acquired the portfolio for an undisclosed price. Amy Sitzman and Giancarlo Riso of Blueprint arranged the sale on behalf of the seller, which also requested anonymity.

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Affordable HousingDevelopmentMultifamilySeniors HousingTexas

Partnership Breaks Ground on 100-Unit Affordable Seniors Housing Project in Fort Worth

by Taylor Williams

FORT WORTH, TEXAS — A partnership between Columbia Residential and Renaissance Heights Foundation has broken ground on Columbia Renaissance Square III, a 100-unit affordable seniors housing project in southeast Fort Worth. The project represents the third and final phase of a larger mixed-income development. A portion of those residences will be reserved for renters earning between 30 and 80 percent of the area median income, and 16 units will be set aside as permanent supportive housing. Phase I of Columbia Renaissance Square totaled 140 units, and Phase II featured 120 age-restricted units.

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AcquisitionsSeniors HousingSoutheastVirginia

Clarion Completes First Seniors Housing Acquisition, Buys 103-Unit Community in Metro Richmond

by John Nelson

MECHANICSVILLE, VA. — Investment firm Clarion Partners has acquired Sancerre at Atlee Station in Mechanicsville, marking the first seniors housing acquisition for the New York City-based company. NexCore Group sold the property for an undisclosed price. Experience Senior Living, a subsidiary of NexCore, will continue to operate the community. Opened in September 2023, Sancerre at Atlee Station totals 103 units, with independent living, assisted living and memory care options available for residents. BWE investment Sales, an affiliate of BWE, facilitated the transaction.

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