LOS ANGELES — Metro @ Compton Senior Apartments, a 75-unit seniors housing community, has broken ground in the Los Angeles submarket of Compton. The $19.5 million, transit-oriented community will be located at 302 N. Tamarind Ave. across from the city's newly completed senior center. Metro @ Compton is also within walking distance of the Martin Luther King Transit Center, several Los Angeles Metro bus stops, the light rail Metro Blue Line, and other local services, including a grocery store, bank, library, park and the Compton Town Hall. Meta Housing Corp. which is developing the community, is working in conjunction with Los Angeles County and the Compton City Council.
VANCOUVER, WASH. — CNL Healthcare Properties has acquired four seniors housing and healthcare facilities in Washington for $88.3 million. The transaction included Bridgewood at Four Seasons Retirement & Assisted Living Community in Vancouver; Rosemont Retirement & Assisted Living Community in Yelm; Auburn Meadows Senior Community for Assisted Living and Special Care in Auburn; and Monticello Park Retirement & Assisted Living Community in Longview. The four communities contain a total of 457 residential units, including 136 independent living units, 297 assisted living units and 24 memory care units. They are managed by Prestige Senior Living, LLC under long-term management services agreements. CNL is also scheduled to close on West Hills Retirement and Assisted Living Community in Corvallis, Ore., next month. Prestige will also operate this property.
ELKHORN, NEB. — NorthMarq Capital’s Omaha based regional office has arranged a $16.2 million loan for the refinancing of Elk Ridge Independent Living, a 118-unit seniors housing facility in Elkhorn, a western suburb of Omaha. Jason Kinnison of NorthMarq arranged the 18-year loan, which is self-amortizing, through a life company. The property is located at 19303 Seward St.
TEGA CAY, S.C. — Red Capital Partners LLC has provided a $26.2 million construction loan for The Wellmore of Tega Cay, a new Class A seniors housing facility in Tega Cay, a suburb of Charlotte, N.C. The 150,000-square-foot, 152-unit campus will offer assisted living, memory care and skilled nursing services. Upon completion, affiliates of Maxwell Group Inc. will operate the project. Red Capital provided the loan to an affiliate of CNL Healthcare Properties.
ST. PETERSBURG, FLA. — Bessolo Design Group, an architectural firm based in St. Petersburg, has been awarded design contracts for four seniors housing facilities in Florida. The projects include the 84-unit, 60,000-square-foot Watercrest of Sebastian in Sebastian; the 60-unit, 40,000-square-foot Watercrest East Lake ALF and Memory Care in Tarpon Springs; the 160-unit Bright Oaks in Fort Myers; and an unnamed 180-bed, 97,748-square-foot skilled nursing facility in Gainesville.
COLONIA, N.J. — Ingerman and BCM Affordable Housing have broken ground on Reinhard Manor, a new affordable seniors housing community at 350 Outlook Ave. in Colonia. The project will transform a vacant and unused school facility into 62 one- and two-bedroom affordable rental residences for seniors. Ingerman was granted $8.7 million in tax credits over 10 years and a $4.8 million Community Development Block Grant to develop Reinhard Manor. The company is partnering with BCM Affordable Housing and the Woodbridge Affordable Housing Corp. to develop the community.
LEAGUE CITY, TEXAS — General contractor Weis Builders Inc. has completed Orchard Park at Victory Lakes, a 126-bed senior living community in the southeast Houston suburb of League City. Constructed in 14 months, the property features 60 assisted living units and 40 memory care units, as well as amenities including a fitness center, recreation area, therapy room and landscaped courtyard. Move-in began immediately upon completion of the HUD project.
TINLEY PARK, ILL. — A joint venture between New York-based Dune Real Estate Partners and Chicago-based Focus Healthcare Partners has purchased Hanover Place of Tinley Park, a 150-unit, Class A, age-restricted senior living property in Tinley Park. Berwyn, Pa.-based LCOR sold the property, which is located at 16851 S. Harlem Ave., for $19 million. Jeff Patterson of ARA Seniors Housing and Todd Stofflet of ARA Midwest represented the seller.
HOOVER, ALA. — Red Capital Partners LLC has closed a $25 million balance sheet loan for Somerby St. Vincent’s One Nineteen, a 199-unit, Class A seniors housing facility located in Hoover, an affluent suburb of Birmingham, Ala. The facility offers independent living, assisted living and memory care services. The financing is anticipated to be refinanced by a Fannie Mae permanent loan. Dominion Partners LLC developed the seniors housing facility, while Somerby Senior Living Services LLC is operating the property.
SPARTANBURG, S.C. — Berkadia Commercial Mortgage LLC has arranged a $5.6 million acquisition loan for Dillon Pointe Assisted Living and Memory Care in Spartanburg. Lisa Lautner of Berkadia’s seniors housing and healthcare group arranged the loan through Freddie Mac on behalf of the borrower, Capital Senior Living Corp., a national seniors housing operator.