Seniors Housing

Zocalo Community Development to Open 159-Unit Active Adult Community Near Denver

by Nellie Day April 6, 2018

LITTLETON, COLO. — Zocalo Community Development is preparing to open Vita, a 159-unit active adult community in the Denver suburb of Littleton. KTGY Architecture + Planning designed the community, which is restricted to residents over 55 years of age. The developer is seeking LEED Gold certification. The community features a variety of mixed-use features, including walking/biking trails, art galleries, antique shops, specialty shops, clothing boutiques, restaurants and bars. It is also located one block from an RTD Light Rail station, providing easy access to downtown Denver and the airport. Zocalo, a Denver-based developer, expects to open Vita in May.

April 6, 2018

California Loans Multifamily Seniors Housing Western

iBorrow Provides $6M Loan for Skilled Nursing Facility in Pasadena

by Nellie Day April 5, 2018

LOS ANGELES — iBorrow, a private direct lender for commercial and multifamily real estate, has provided a $6 million loan for Golden Cross Health Care, a skilled nursing facility in the Pasadena submarket of Los Angeles. Originally constructed in 1965 and since remodeled, the facility sits on approximately one acre of land. The asset features 42 units and 96 beds, and is 97 percent occupied. The loan will refinance existing debt, with plans to approach HUD for a permanent loan in the future.

April 5, 2018

Arizona Multifamily Seniors Housing Western

Blueprint Arranges Sale of 100-Unit Assisted Living Portfolio in Arizona

by Nellie Day April 4, 2018

PEORIA AND MESA, ARIZ. — Blueprint Healthcare Real Estate Advisors has arranged the sale of two assisted living communities in Arizona for an undisclosed price. Each property features 50 units. The first, located in Peoria, has been vacant since 2008. The second, located in Mesa, has been vacant since 2013. The buyer of the Peoria property is a regional owner-operator looking to expand its presence in Arizona. The buyer of the Mesa property intends to convert the community into a drug treatment center. The seller was not disclosed. Blueprint’s Amy Sitzman handled the transactions.

April 4, 2018

Lake-Houston-Seniors-Housing-Atascocita-Texas

Development Multifamily Seniors Housing Texas

TNRG, MedCore Acquire 7 Acres for Seniors Housing Development Near Houston

by Taylor Williams April 4, 2018

ATASCOCITA, TEXAS — Houston-based The National Realty Group (TNRG) and Dallas-based MedCore Partners have acquired seven acres in the Houston suburb of Atascocita, with plans to build an independent living, assisted living and memory care community on the site. The project will feature 186 units located near the shores of Lake Houston. Integral Senior Living will operate the community upon completion. Design is scheduled for completion by November of this year, followed immediately by construction. The developers plan to deliver the completed community in March 2020.

April 4, 2018

Acquisitions Multifamily Northeast Pennsylvania Seniors Housing

Blueprint Negotiates $18.8M Sale of 180-Bed Skilled Nursing Facility in Pennsylvania

by David Cohen April 4, 2018

LEHIGH VALLEY, PA. — Blueprint Healthcare Real Estate Advisors has arranged the sale of a 180-bed skilled nursing facility located in the Lehigh Valley region of eastern Pennsylvania. A regional owner-operator acquired the property for $18.8 million, or approximately $104,000 per bed. The seller was looking to restructure its regional portfolio. Michael Segal and Ben Firestone of Blueprint negotiated the transaction.

April 4, 2018

Multifamily Nevada Seniors Housing Western

Spring Hills Plans Memory Care Community in Las Vegas

by Nellie Day April 3, 2018

LAS VEGAS — Spring Hills Senior Communities has announced plans for Poet’s Walk Summerlin memory care community in the northwest submarket of Las Vegas. The community will feature 72 beds. The project is part of Spring Hills’ continued expansion plans within the memory care sector.

April 3, 2018

Loans Multifamily Nevada Seniors Housing Western

Meridian Capital Arranges Construction Financing for 66-Bed Memory Care Facility Near Las Vegas

by Nellie Day April 3, 2018

HENDERSON, NEV. — Meridian Capital Group has arranged an undisclosed amount of construction financing for The Vineyard, a memory care community in Henderson, a suburb of Las Vegas. The borrower is Valeo Partners, which is developing the project. The property features 66 beds across 62 units. The seniors housing division of Valeo Partners is seeking to expand its portfolio. A balance-sheet lender provided the 36-month loan. Peter Martz, based in Meridian’s Boca Raton, Fla. office, negotiated the financing.

April 3, 2018

Florida Loans Multifamily Seniors Housing Southeast

Ziegler Provides $94.3M HUD Refinancing for 639-Unit Seniors Housing Community in North Florida

by Camren Skelton April 2, 2018

GAINESVILLE, FLA. — Ziegler, a specialty investment bank, has provided a $94.3 million HUD loan for the refinancing of The Village at Gainesville, a 639-unit independent living, assisted living and memory care community in Gainesville. The Florida-based borrower is SantaFe Senior Living, the not-for-profit operator of the community. The Village at Gainesville features 511 independent living units and 128 assisted living/memory care units. The property is located on 104 acres. The independent living units offer board and care services, allowing residents to maintain their “independent” status longer. The FHA-insured mortgage offers a 35-year fixed interest rate below 3.5 percent. The refinancing, which was arranged through FHA’s 232/223 (f) program, lowered the borrower’s debt service and recapitalized the facility. According to Ziegler, the loan is the largest refinance of a single-asset seniors housing community in HUD’s portfolio.

April 2, 2018

California Multifamily Seniors Housing Western

Blueprint Arranges $19M Sale of 110-Unit Seniors Housing Community in Sonoma County

by Nellie Day April 2, 2018

HEALDSBURG, CALIF. — Blueprint Healthcare Real Estate Advisors has brokered the sale of Healdsburg Senior Living Community, a 110-unit assisted living, memory care and skilled nursing campus in the Sonoma County city of Healdsburg. Sitting on approximately seven acres, the community features 40 assisted living units, 32 memory care beds and 38 skilled nursing beds. A global private real estate investment firm with a large national seniors housing portfolio acquired the property for $19 million, or $173,000 per bed. The seller was not disclosed, though the property is featured on Pacifica Senior Living’s website. Mario Wilson and Christopher Hyldahl of Blueprint led the transaction.

April 2, 2018

Colorado Development Multifamily Seniors Housing Western

Focus Property Group, Ascent Living Plan 200-Unit Seniors Housing Community in Denver

by Amy Works March 29, 2018

DENVER — Focus Property Group, a Denver-based property investor and developer, and Ascent Living Communities, an owner and operator of senior living communities based in nearby Centennial, have announced plans for a seniors housing community in Denver’s Hilltop neighborhood. The three-story property, which has not yet been named, will sit on 4.4 acres and feature 200 independent living, assisted living and memory care apartments. Focus Property Group acquired the site, a former milk processing and distribution center, in 2016. Focus teamed with Ascent Living Communities to co-develop, operate and manage the community. Construction is scheduled to begin in the first quarter of 2019, with initial move-ins planned for summer 2020. Hord Coplan Macht will design the project.

March 29, 2018

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