Saturday, August 8, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Seniors Housing

MultifamilyOregonSeniors HousingWestern

Granite Investment Group Acquires Two-Property Memory Care Portfolio in Portland

by Nellie Day

PORTLAND, ORE. — Granite Investment Group has acquired Tabor Crest, a two-property memory care company in East Portland, for an undisclosed price. One of the facilities was completed in 2016 and was leased up in six months. The second was acquired by the sellers in 2004 and underwent improvements to the facility and operations. Avalon Health Care Group will operate the 60-unit portfolio. Congressional Bank provided a bridge loan as part of the transaction. Housing and Healthcare Finance will process the permanent HUD loan. Based in Irvine, Calif., Granite is a privately held investment management firm.

Continue Reading
FacebookTwitterLinkedinEmail
IowaMidwestMultifamilySeniors Housing

Darland Transforms Former School Into Affordable Seniors Housing Property in Council Bluffs, Iowa

by Kristin Harlow

COUNCIL BLUFFS, IOWA — Darland Construction Co. has completed a renovation of and addition to Gunn School, transforming the 90-year-old building into an affordable seniors housing property in Council Bluffs, a suburb of Omaha, Neb. Known as Linden Place, the 42,265-square-foot complex consists of 36 units. Sixteen of the apartment units are located in the renovated school, while the remaining 20 units are part of a new, two-story addition built on what was once the school’s basketball courts and playground. Gunn School was originally built in 1880 and then rebuilt on the same site in 1924. The school was originally slated to be torn down before Seldin Co. showed interest in rehabbing the building. The project was made possible through a series of community and economic development grants. Architecture One provided architectural services.

Continue Reading
FacebookTwitterLinkedinEmail
LoansMultifamilySeniors HousingTexas

KeyBank Arranges $13M Acquisition Loan for Seniors Housing Community in Tulsa

by Taylor Williams

TULSA, OKLA. — KeyBank Real Estate Capital has arranged a $13 million Freddie Mac loan for the acquisition of Legend at Tulsa Hills, an 86-unit seniors housing community located at 701 W. 71st St. S in Tulsa. Built in 2014, the property comprises of 68 assisted living units and 18 Alzheimer’s care units. Monique Bimler of KeyBank structured the loan, which features a 10-year term and 30-year amortization schedule.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaMultifamilySeniors HousingWestern

CBRE Brokers $6.8M Sale of 28-Unit Seniors Housing Community in Brea

by Nellie Day

BREA, CALIF. — CBRE has arranged the sale of Williams Senior Apartments, a 28-unit age-restricted community in the Los Angeles suburb of Brea, for $6.8 million. Restoration Enhancement acquired the property from a private seller in a 1031-exchange transaction. The property was recently upgraded and is located near the Brea Downtown entertainment center, which features 350,000 square feet of retail, shops, restaurants, entertainment and nightlife.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisMidwestMultifamilySeniors Housing

Silverado to Host Groundbreaking Ceremony for 90-Unit Memory Care Community Near Chicago

by Kristin Harlow

ST. CHARLES, ILL. — Silverado will host a groundbreaking ceremony Friday, Aug. 11 for Silverado St. Charles, a 90-unit memory care community in the Chicago suburb of St. Charles. The 47,000-square-foot, single-story community is scheduled to open during summer 2018. It will be located on a four-acre plot. Silverado estimates total project costs at $12 million. Development team members include Jensen and Halstead Ltd. for architecture and planning; Cemcon Engineering for civil engineering; Terracon for geo-technical field observations; and Testing Services Corp (TSC) for construction testing services. Irvine, California-based Silverado is a memory care operator with 52 locations in Arizona, California, Illinois, Texas, Utah, Washington and Wisconsin.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilySeniors HousingTexas

Tradition Senior Living Begins Work on New Facility in Houston

by Taylor Williams

HOUSTON — Tradition Senior Living LP, a developer and operator of seniors housing communities, has begun work on The Tradition-Buffalo Speedway, a 316-unit facility situated on 7.6 acres at 9339 Buffalo Speedway in Houston. The property will offer 222 independent living units and 94 assisted living/memory care units. Amenities include an underground parking garage, on-site restaurant options and a fitness center with an indoor pool and Pilates studio. The initial opening is slated for late 2018.

Continue Reading
FacebookTwitterLinkedinEmail
MidwestMinnesotaMultifamilySeniors Housing

CareTrust REIT Acquires 30-Unit Memory Care Community in Minnesota for $7.8M

by Jeff Shaw

WHITE BEAR LAKE, MINN. — CareTrust REIT Inc. (NASDAQ: CTRE) has acquired Memory Care Cottages in White Bear Lake, a 30-unit, high-acuity memory care community in the Minneapolis suburb of White Bear Lake. The purchase price was approximately $7.8 million, inclusive of transaction costs. The deal is structured as a sale-leaseback with the operator, Prelude Homes & Services, which originally developed the property. CareTrust and Prelude have an existing relationship, and the property was added to the master lease arrangement between the two companies. CareTrust expects the property to generate an additional annual cash rent of approximately $640,000, resulting in an initial cash yield of 8.2 percent. The amended master lease has a remaining initial term of approximately 12.5 years, with two five-year renewal options and Consumer Price Index (CPI)-based rent escalators. CareTrust REIT, a California-based, publicly traded healthcare REIT, funded the acquisition with cash on hand.

Continue Reading
FacebookTwitterLinkedinEmail
MidwestMissouriMultifamilySeniors Housing

Wiegmann Completes HVAC Project for $17.5M Seniors Community in Suburban St. Louis

by Jeff Shaw

CHARLES, MO. — St. Louis-based contractor Wiegmann Associates has completed the installation of the HVAC system at Cedarhurst of St. Charles, a new $17.5 million seniors housing community in the St. Louis metro of St. Charles. The 99,000-square-foot property features 76 assisted living units and 24 memory care units. Vermont-based Dover Development LLC developed the property, and Illinois-based IMPACT Strategies Inc. served as construction manager. The community officially opened June 25. Cedarhurst Living LLC will operate the facility.

Continue Reading
FacebookTwitterLinkedinEmail
MultifamilySeniors HousingSouth CarolinaSoutheast

Dominion Breaks Ground on $10M Seniors Housing Community in Clemson

by Camren Skelton

CLEMSON, S.C. — Dominion Senior Living has broken ground on Dominion Senior Living at Patrick Square, a $10 million, 50,000-square-foot seniors housing community located at 100 Pershing Ave. in Clemson. The two-story, faith-based community will have 40 assisted living apartments and 17 apartments designed for memory care. Dominion Senior Living at Patrick Square is slated to open in fall 2018, bringing roughly 50 new jobs to the Clemson area. The property is Dominion’s second asset in South Carolina.

Continue Reading
FacebookTwitterLinkedinEmail
CaliforniaLoansMultifamilySeniors HousingWestern

Capital One Provides $77.7M Refinancing for Nine-Property Pacifica Seniors Housing Portfolio

by Nellie Day

SAN DIEGO — Capital One has provided a $77.7 million loan to refinance a portfolio of nine seniors housing facilities in Arizona, California, Florida, Oregon and Utah. The mortgage consists of $67.7 million in initial funding and an earn-out as specific conditions are met. The borrower is Pacifica Cos., a San Diego-based real estate developer, owner, investor and investment management with properties in office, industrial, retail, net-leased single-tenant, multifamily, residential, seniors housing and hospitality, as well as land for development. Its seniors housing division is named Pacifica Senior Living. The specific names of the properties were not disclosed. Specializing in assisted living and memory care, Pacifica Senior Living manages dozens of communities in Arizona, California, Florida, Georgia, Idaho, Nevada, New Mexico, North Carolina, Oregon, Rhode Island, Texas, Utah and Virginia.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts