REBusinessOnline

InterFace Seniors Housing Midwest Conference Scheduled for June 7 in Chicago

Seniors Housing Business magazine and InterFace Conference Group will host the 4th annual InterFace Seniors Housing Midwest conference on June 7 at the Marriott Marquis Chicago. The conference will focus on the state of seniors housing investment, development, operations and financing across markets in the Midwest. It is designed to bring together the leading owners, operators, investors, developers and lenders/financial intermediaries active in the region. InterFace Seniors Housing …

BridgeWater Opens 140-Unit Affordable Seniors Community in Midtown Phoenix

PHOENIX - BridgeWater Assisted Living has opened BridgeWater Assisted Living Midtown, a 140-unit affordable seniors housing community in Phoenix. This is BridgeWater's second affordable community in the Phoenix metro. The property is seven stories tall and offers assisted living and memory care services using the Medicaid ALTCS program, which allows Medicaid to pay for services that are normally private pay. Veterans eligible for Wartime Pension may also qualify for supplemental aid and …

LCS Development to Lead $125M Expansion of Seniors Housing Community in Boca Raton

BOCA RATON, FLA. — LCS Development, an LCS Company, has been selected to develop and market the $125 million expansion of the Toby & Leon Cooperman Sinai Residences of Boca Raton. The not-for-profit continuing care retirement community (CCRC) opened in 2016 and includes 234 independent living homes, 48 assisted living units, 24 memory care units and 60 skilled nursing beds. The expansion will add an estimated 100 independent living residences, at least two additional themed dining …

Pathway to Living, Caddis Open 96-Unit Seniors Housing Community in Orland Park, Illinois

ORLAND PARK, ILL. — Pathway to Living and Caddis Healthcare Real Estate have opened Heartis Village of Orland Park, a 96-unit assisted living and memory care community. The 89,622-square-foot property is located at 7420 W. 159th St. The community’s 72 assisted living units range in size from 371 to 1,032 square feet, while the 24 memory care studios measure approximately 260 to 360 square feet. Amenities include a dining room, movie theater, chapel, salon and spa, fitness center, doctor’s …

Blueprint Brokers Sale of Two Skilled Nursing Facilities in Southern Illinois for $5.5M

EDWARDSVILLE, ILL. — Blueprint Healthcare Real Estate Advisors has brokered the sale of University Nursing and Rehabilitation Center and Edwardsville Nursing and Rehabilitation, both located in Edwardsville and totaling approximately 232 beds, for $5.5 million. The purchase price equates to approximately $24,000 per bed. The sale was prompted by the operator’s motivation to reduce its overall exposure to the state’s challenging reimbursement environment relating to delayed payments of …

CBRE Arranges $59M Construction Financing for Seniors Housing High-Rise in Houston

HOUSTON — CBRE has arranged $59 million in construction financing for The Village of Southampton, a 17-story seniors housing community in Houston. A joint venture between Bridgewood Property Co. and Harrison Street Real Estate Capital is developing the building. The community will feature 204 independent living, assisted living and memory care units within the high-end Rice Village mixed-use development. Rice Village includes more than 300 shops and restaurants within a 16-block area. Located …

Greystone Arranges $6.3M Sale of Skilled Nursing Facility in El Paso

EL PASO, TEXAS — Greystone’s Real Estate Advisors division has arranged the $6.3 million sale of Nazareth Living Care Center, a 124-bed skilled nursing facility located at 1475 Raynolds St. in El Paso. Chicago-based Mozart Healthcare LLC purchased the asset from Nazareth Hall, a nonprofit organization based in Texas. Mike Garbers and Cody Tremper of Greystone represented Nazareth Hall in the transaction. Paramount Healthcare is currently operating the community, which comprises two …

Walker & Dunlop Provides $10M Construction Loan for Assisted Living Facility in Sonoma County

CLOVERDALE, Calif. — Walker & Dunlop Inc. has provided $10 million in HUD financing for the construction of Vine Ridge, a 51-unit assisted living community in the Sonoma County city of Cloverdale. The community will consist of a two-story, 42,000-square-foot building on a 2.5-acre site. Western Living Concepts is developing and will operate the property, the second seniors housing community in its portfolio. Vine Ridge is scheduled for completion in 2019. Walker & Dunlop's …

Bozzuto Group Completes 231-Unit Active Adult Community Near Philadelphia

KING OF PRUSSIA, PA. —The Bozzuto Group has completed the development of Canvas Valley Forge, a 231-unit active adult community in the Philadelphia suburb of King of Prussia. KTGY Architecture + Planning designed the apartment property, which targets residents over age 55. The community is part of King of Prussia Town Center, a mixed-use development also built by Bozzuto Group and designed by KTGY. Residents of the community are within walking distance of a variety of grocery stores, …

Capitol Seniors Housing Opens $27M Community in Naperville, Illinois

NAPERVILLE, ILL. — Capitol Seniors Housing has opened Arbor Terrace Naperville in Illinois. The $27 million assisted living and memory care community features 74,256 square feet and 95 residential units. The community is located at 2920 Leverenz Road in the Cantore Place development. Amenities include a library, theater, café, salon and spa and fitness center. Faulkner Design Group designed the property’s