Tuesday, October 21, 2025
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Seniors Housing

DevelopmentFloridaLoansSeniors HousingSoutheast

JLL Arranges Two Construction Takeout Loans Totaling $114M for EDEN Living BTR Projects in Florida

by John Nelson

WEST MELBOURNE AND JACKSONVILLE, FLA. — JLL has arranged $114 million in bridge loans on behalf of BTR developer EDEN Living to refinance existing construction debt on two Florida properties. The package includes a $70 million loan for the 373-unit EDEN at Heritage Lakes in West Melbourne and a $44 million loan for the 265-unit EDEN at Kendall West in Jacksonville. The direct lender of the construction takeout loans was not disclosed. Both properties were developed in 2024. Max La Cava, Melissa Quinn, Rob Rothaug and Jade Starkey of JLL arranged the financing on behalf of the borrower.

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Architecture-Design-Panel_Active-Adult-Dallas
Conference CoverageFeaturesMultifamilySeniors Housing

Design Teamwork Makes the Active Adult Dream Work, Says InterFace Architecture Panel 

by Taylor Williams

By Hayden Spiess DALLAS — Although tenant demand for active adult communities remains strong, the sector is not immune to escalating construction costs, labor shortages, tariffs and general economic uncertainty, say industry professionals. Teamwork across key disciplines can help make clearing those hurdles much easier. “We’re having a hard time getting things to pencil these days,” levels Erin Berry Harps, director of interior design at Direct Supply Aptura, a senior living design and construction firm. Simultaneously, residents are as price conscious as ever, she points out. “We also have increased consumer demand for affordability,” emphasizes Harps.  Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. Harps’ assessment came during the 5th annual InterFace Active Adult conference, which was held Wednesday, May 7, at The Westin Las Colinas in Dallas. Harps moderated a panel titled “Architecture, Design & Construction Trends for Active Adult Projects” at the daylong event, which attracted more than 300 industry professionals. In addition to Harps, the panel discussion included Bill Foster, a partner with Lantz-Boggio Architects; Lisa Warnock, principal and founder of Glow Interior Designs; Jarrett Cooper, vice …

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IllinoisLoansMidwestSeniors Housing

Canyon Partners Provides $47M Refinancing for Seniors Housing Community in Chicago

by Abby Cox

CHICAGO — Canyon Partners Real Estate has provided a $47 million senior loan for the refinancing of American House Oak Park, a 174-unit seniors housing community in the Oak Park neighborhood of Chicago. A joint venture between affiliates of AEW Capital Management and REDICO was the borrower. The property comprises 74 independent living, 65 assisted living and 35 memory care units. Amenities at the community include a rooftop lounge, roof terraces, fitness options, a salon, game room, art studio and theater. Newmark facilitated the financing.

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Affordable HousingDevelopmentFloridaSeniors HousingSoutheast

McDowell Housing Completes 160-Unit Affordable Seniors Housing Community in Naples, Florida

by John Nelson

NAPLES, FLA. — McDowell Housing Partners (MHP) has completed the construction of Ekos Cadenza, a 160-unit affordable seniors housing community in Naples. This marks MHP’s second phase of development at the site. The first phase, which also comprises 160 units of affordable housing for seniors, opened in October 2024. Totaling five stories, Ekos Cadenza features studio, one- and two-bedroom residences ranging from 527 to 1,007 square feet. Amenities include a swimming pool, wet bar, fitness center, game room, media center, pickleball court and clubhouse. The Healthcare Network of Southwest Florida will provide onsite healthcare services to residents, with Collier County administering a daily meal program. Nineteen apartments will be reserved for seniors earning at or below 30 percent of the area median income (AMI), and 119 units will be reserved for seniors earning at or below 60 percent of AMI. Monthly rents will range from $529 to $1,406.

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Trulee-Evanston-Illinois
IllinoisLoansMidwestSeniors Housing

PGIM Real Estate Provides $50M in Financing for 160-Unit Senior Living Community in Metro Chicago

by Abby Cox

EVANSTON, ILL. — PGIM Real Estate has provided $50 million in floating-rate financing for Trulee Evanston, a 160-unit senior living community located in Evanston, roughly 13 miles north of downtown Chicago. Trace Wilson of PGIM Real Estate led financing efforts on behalf of the borrowers, AEW Capital Management and Solera Senior Living. The nine-story complex features contemporary architecture, technology and a variety of outdoor spaces, as well as independent living, assisted living and memory care services. Amenities at Trulee Evanston include an outdoor deck, bar, fire pit, hair salon and a fitness center.

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The-Glen-Heather-Farm-Walnut-Creek-CA
CaliforniaDevelopmentMultifamilySeniors HousingWestern

Continuing Life Underway on 354-Unit Seniors Housing Community in Walnut Creek, California

by Amy Works

WALNUT CREEK, CALIF. — Continuing Life LLC is currently underway on the development of The Glen at Heather Farm, a new seniors housing community in Walnut Creek. Upon completion, the property will total 354 units in the form of both apartments and single-story homes. In addition to independent living, the community will offer assisted living and memory care services, as well as long-term care options at an adjacent health center. Amenities at the property will include multiple dining venues, a health spa, aquatic center, theaters and pickleball and tennis courts.  The Glen at Heather Farm is scheduled to open in late 2027 or early 2028.

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Aspendale-Northglenn-CO
ColoradoDevelopmentMultifamilySeniors HousingWestern

Headwaters Group Launches New Aspendale Active Adult Brand

by Amy Works

DENVER — Headwaters Group, a Denver-based real estate owner and developer, has launched a new active adult brand. Dubbed Aspendale, the brand will serve residents age 55 and older at a portfolio of communities across Colorado and the western United States.  The current Aspendale portfolio comprises four communities scheduled to open between late 2025 and mid-2026. Located in Centennial, Colo., Aspendale Centennial will total 200,000 square feet and 172 apartments. Now leasing, the property is scheduled to open in late 2025.  Aspendale Northglenn in Northglenn, Colo., is also currently leasing and totals 172 units. The property will open in early 2026 and will include an 8,800-square-foot clubhouse.  Aspendale Littleton in Littleton, Colo., is scheduled for completion in mid-2026, with leasing scheduled to begin this fall. Upon completion, the property will feature 190 apartments and a two-story, 10,000-square-foot clubhouse.  In Scottsdale, Ariz., Aspendale Scottsdale is scheduled to begin move-ins in October 2026. In addition to 161 apartment units, the community will feature 10 single-story duplex cottages.  Amenities at Aspendale communities include fitness centers, outdoor turf areas, art studios, card rooms, swimming pools, dining courtyards and dog parks. 

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Richmond-Towers-Plainfield-New-Jersey
Affordable HousingDevelopmentMultifamilyNew JerseyNortheastSeniors Housing

WinnCos. to Undertake Affordable Seniors Housing Renovation Project in Plainfield, New Jersey

by Taylor Williams

PLAINFIELD, N.J. — Regional owner-operator WinnCos. will undertake an affordable seniors housing renovation project in the Northern New Jersey community of Plainfield. Designed by New Jersey-based Inglese Architecture & Engineering, the project will modernize the 225-unit Richmond Towers and the 128-unit Joanne Hollis Gardens complexes and preserve the properties’ status as affordable for residents earning 30 percent or less of the area median income. Richmond Towers was built more than 50 years ago and features two 12-story towers housing 135 studio apartments and 90 one-bedroom apartments. Built in 1954 as West End Gardens, Joanne Hollis Gardens was rededicated in 2015 to posthumously honor the longtime resident who served as Plainfield housing commissioner and city councilwoman. The two-story, garden-style complex offers 16 one-bedroom, 66 two-bedroom, 32 three-bedroom and 14 four-bedroom apartments. WinnCos. is developing the project in partnership with the Housing Authority of Plainfield.

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Ackerly-Sherwood-OR
AcquisitionsLoansMultifamilyOregonSeniors HousingWestern

BMO Healthcare Provides $41M Acquisition Loan for Seniors Housing Community Near Portland

by Amy Works

SHERWOOD, ORE. — BMO Healthcare’s Real Estate Finance group has provided a $41 million loan for the acquisition of The Ackerly at Sherwood, a senior living community located in Sherwood, roughly 15 miles southwest of Portland. A joint venture between an institutional investor and Merrill Gardens is the borrower. Merrill Gardens will manage and operate the property. The Ackerly at Sherwood totals 130 units with independent living, assisted living and memory care residences. Based in Seattle, Merrill Gardens manages more than 60 seniors housing communities across 20 states. 

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Conference CoverageFeaturesSeniors HousingTexasTexas & Oklahoma Feature Archive

Active Adult Sector Still in Early Stages of Its Evolution, Says CEO Panel 

by John Nelson

DALLAS — The evolution of active adult product is in the third inning of a nine-inning game, but some markets are clearly ahead of the curve, says Zach Crowe, managing director of U.S. real estate for private equity giant The Carlyle Group. “There are markets like Dallas, Las Vegas and Denver that have had active adult for 20 years at this point, and the product is well known. The consumer understands what it is. There are other markets with very few properties, and people have no idea what it is. It’s still incredibly early [in the game],” reports Crowe, who is based in Washington, D.C., and focuses on real estate investment opportunities in multifamily, 55+ housing and medical office properties. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. The insights from Crowe came during the CEO panel at the fifth annual InterFace Active Adult conference. The daylong conference, which took place May 7 at The Westin Los Colinas in Dallas, attracted more than 300 industry professionals.  Moderated by Ryan Maconachy, vice chairman of health and alternative assets for Newmark, the …

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