Seniors Housing

Frontier Management Breaks Ground on 120-Unit Seniors Housing Property Near Houston

by John Nelson January 6, 2020

SPRING, TEXAS — Frontier Management has broken ground on The Landing at Augusta Woods, a 120-unit seniors housing community located at 7727 August Pines Drive in Spring, a northern suburb of Houston. The property, which will include 75 units for active adults and 45 assisted living units, is set to open in early 2021. The project team includes general contractor Regent Construction, architect Jeffrey DeMure & Associates and construction lender UCB. Frontier Management will operate Landing at Augusta Woods, joining the more than 100 seniors housing communities in its management portfolio.

January 6, 2020

Acquisitions Multifamily Northeast Pennsylvania Seniors Housing

NKF Arranges Sale of 98-Unit Seniors Housing Community in Doylestown, Pennsylvania

by Alex Patton January 3, 2020

DOYLESTOWN, PA. — Newmark Knight Frank (NKF) has arranged the sale of and financing for Solana at Doylestown, a 98-unit seniors housing community in Doylestown, located approximately 35 miles north of Philadelphia. Solana at Doylestown opened in 2014 and provides assisted living and memory care services. The property was 96 percent occupied at the time of sale. Ryan Maconachy and Chad Lavender of NKF represented the seller, Atlanta-based Formation Development Group. A joint venture between LCS Senior Living and Nuveen acquired the property for an undisclosed price. Sarah Anderson and Brittany Robinson, also of NKF, secured the financing on behalf of the buyer.

January 3, 2020

Loans Multifamily New Jersey Northeast Seniors Housing

M&T Provides $12.1M Financing for Seniors Housing Facility in Chatham, New Jersey

by Alex Patton January 3, 2020

CHATHAM, N.J. — M&T Realty Capital Corp. has provided a $12.1 million FHA-insured loan to refinance a 108-bed skilled nursing facility in Chatham, located approximately 25 miles west of New York City. The loan was completed under the U.S. Department of Housing and Urban Development’s Section 232/223(f) program. The 35-year, fully amortizing loan features a fixed rate of 3.26 percent. The borrower and name of facility were not disclosed. Paula Quigley, Matt Pipitone and Jennifer Kooney of M&T Realty Capital led the transaction. Quigley also serves as the FHA/HUD program manager for M&T Realty Capital Corp.

January 3, 2020

Development Seniors Housing Texas

Senior Resource Group Opens 232-Unit Seniors Housing Community at The Domain in Austin

by John Nelson January 2, 2020

AUSTIN, TEXAS — Senior Resource Group (SRG) has opened Maravilla at The Domain, the company’s first community in Texas. The project is located in the heart of the residential area of The Domain, a high-density mixed-use development in the North Burnet neighborhood of Austin. The seniors housing community comprises an 11-story south tower, six-story central tower and seven-story north tower, with subterranean parking, courtyards and a swimming pool. The 370,000-square-foot development offers 144 independent living, 54 assisted living and 34 memory care units. Residents have begun moving into Maravilla’s independent living apartments located in the central and south towers, and will start moving into the assisted living and memory care residences in the north tower this month.

January 2, 2020

Loans Midwest Multifamily Ohio Seniors Housing

Cambridge Provides $24M in HUD Loans to Refinance Two Ohio Skilled Nursing Facilities

by Kristin Harlow January 2, 2020

LISBON AND MINERAL RIDGE, OHIO — Cambridge Realty Capital Cos. has provided two loans through the U.S. Department of Housing and Urban Development’s Lean mortgage insurance program totaling $24 million for the refinancing of The Vista Care Center and The Ridge Care Center. An Ohio-based limited liability company was the borrower. The Vista Care Center, located in Lisbon, is a 76-bed skilled nursing and assisted living facility. The Ridge Care Center, located in Mineral Ridge, is a 181-bed skilled nursing and assisted living facility. Both properties feature dining, housekeeping and laundry services. Residents have access to onsite healthcare services such as dentistry, podiatry, optometry, audiology, psychology and medical imaging. Cambridge provided a fully amortized 30-year loan for the Lisbon property and a 35-year loan for the Minera Ridge asset. The FHA/HUD Lean Section 232 program — which helps finance nursing homes, assisted living facilities as well as board and care facilities — provides lenders with protections against losses as the result of borrowers defaulting on their loans. HUD adopted the Lean model to simplify the loan application process and to reduce the amount of time it takes for qualified borrowers to obtain funding.

January 2, 2020

Development Multifamily Seniors Housing Texas

Architectural Firm Three Completes Design of Seniors Housing Expansion Project in Dallas

by Taylor Williams December 24, 2019

DALLAS — Locally based architecture firm “three” has designed an expansion project at Presbyterian Village North, a seniors housing community in Dallas that is owned and operated by Presbyterian Communities and Services. The project will add 112 independent living units and a 30,000-square-foot commons building at the core of the campus. The project is expected to be complete by 2021.

December 24, 2019

Loans Multifamily New York Northeast Seniors Housing

JLL Arranges $47.5M Loan for Refinancing of Seniors Housing Community in Manhattan

by Alex Patton December 24, 2019

NEW YORK CITY — JLL has arranged a $47.5 million loan for the refinancing of The 80th Street Residence, an assisted living facility in Manhattan. The property specializes in enhanced memory care and comprises 61 units and 70 beds. IDB Bank, a New York-based private and commercial bank, provided the loan. Peter Rotchford, Zach Rigby, Jason Skalko and Dillon Donald of JLL arranged the loan on behalf of property owners Wayne Kaplan and Larry Morehead.

December 24, 2019

Development Loans Multifamily Seniors Housing Southeast Tennessee

HJ Sims, Duncan-Williams Arrange $219.3M Financing Package for Seniors Housing Project in Tennessee

by Alex Tostado December 20, 2019

COLLIERVILLE, TENN. — Herbert J. Sims & Co., Inc. (HJ Sims) and Duncan-Williams have arranged a financing package totaling $219.3 million for the construction of The Farms at Bailey Station, a continuing care retirement community in Collierville. The borrower for the development at 3382 Grand Central Circle E. is Retirement Cos. of America (RCA). The development will be a sister community to Kirby Pines Estates in nearby Memphis. When completed, The Farms will feature 176 independent living units, 63 garden homes, 52 assisted living units, 32 memory support suites and a health center consisting of 60 private skilled nursing suites. The units are already 70 percent pre-sold. Construction has commenced throughout the campus. The apartments will be delivered in stages, with the first resident occupancy planned for June 2021. The health campus is slated for completion in April 2021. Nine of the garden homes are already completed, with seven more currently under construction. REES Architects and Renaissance Group served as architects. Memphis-based Dalhoff Thomas design studio assisted as landscape architect. Linkous Construction Co. Inc. is the general contractor. Greystone is the project manager, with RCA as asset manager. Sims and Duncan-Williams were co-managers on the transaction, which was structured as …

December 20, 2019

Development Multifamily Seniors Housing Texas

Amtex Multi-Housing Breaks Ground on 225-Unit Seniors Housing Project in Austin

by Taylor Williams December 19, 2019

AUSTIN, TEXAS — Amtex Multi-Housing LLC has broken ground on Limestone Ridge Senior Apartments, a 225-unit affordable housing project in Austin for seniors earning 60 percent or less of the area median income. Slated to be complete in fall 2021, the community will offer 223 one- and two-bedroom units plus a pair of two-bedroom units allocated for onsite managers. Amenities will include a resident clubhouse, pool, walking trails and a community garden.

December 19, 2019

Development Multifamily Northeast Pennsylvania Seniors Housing

Capitol Seniors Housing Breaks Ground on 86-Unit Community in Exton, Pennsylvania

by Alex Patton December 17, 2019

EXTON, PA. — Capitol Seniors Housing has started construction of Arbor Terrace Exton, an 86-unit assisted living and memory care community in the Philadelphia suburb of Exton. The 78,000-square-foot community will be located near major medical facilities, restaurants and shopping centers. The Arbor Company will operate the community upon completion, which is slated for winter 2020. Meyer Senior Living Studio is the designer on the project.

December 17, 2019

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