BOLINGBROOK, ILL. — The LaSalle Group has announced plans to build a $10.2 million memory care assisted living community at 351 Lily Cache Lane in Bolingbrook. The 26,000-square-foot Autumn Leaves of Bolingbrook will serve residents living with Alzheimer's and dementia. The LaSalle Group is partnering with RT Partners and local lender, BMO Harris Bank, on the project. The community is expected to open in the third quarter of 2013.
BURNSVILLE, MINN. — Ebenezer Management Services will breark ground on a $12 million addition to Arbors at Ridges, an assisted living community in Burnsville, later this month. The community currently offers 44 senior apartments. Kraus-Anderson Construction will construct a three-story building that will house 63 assisted living units. The new campus will also feature gardens, walking paths, a movie theater, library, barber shop, clubroom, chapel and coffee shop. The addition is slated for completion in the spring of 2013. Sperides Reiners Architects is designing the project.
COON RAPIDS, MINN. — Walker & Dunlop has arranged a $12 million loan for the refinancing of Select Senior Living at Coon Rapids, a 68-unit assisted living facility in Coon Rapids. Amenities at the property include separate dining rooms for memory-care and assisted-living residents, an activity center and theater room. Carolyn McMullen of Walker & Dunlop secured the loan through the U.S. Department of Housing and Urban Development's Section 232/223(f). The loan contains a 35-year amortization schedule.
TEXAS — Aviv REIT has purchased 15 skilled nursing facilities in Texas leased to Daybreak Ventures for $72.7 million. The triple-net lease has a 12-year term. The transaction was financed with cash on hand, Aviv's lines of credit and assumed debt.
CHICAGO — Beech Street Capital has arranged $7.7 million in HUD 232/223(a)(7) loans to refinance two skilled nursing facilities in Chicago. The properties include Waterford Nursing & Rehabilitation Center, a 141-bed facility, and the 127-bed Heritage Nursing Home. Joshua Rosen of Beech Street Capital originated the transaction.
BARBERTON, OHIO — Marcus & Millichap has arranged the $1.1 million sale of Heritage Place Senior Apartments in Barberton. The 66-unit property is located at 39 and 41 30th Street NW. Dan Burkons, Josh Wintermute, Michael Barron and Kurt Shoemaker of Marcus & Millichap represented the seller, a private partnership. Barron, Burknos and Wintermute also secured the buyer, a limited liability company.
SUWANEE, GA. — The LaSalle Group has started construction on the $10 million, 26,000-square-foot Autumn Leaves of Sugarloaf, an Alzheimer's and dementia care facility located at 1455 Satellite Blvd. in Suwanee. Constant Care Family Management designed the property and will manage and operate the community. Lake Superior Contracting is the construction company for the project. The LaSalle Group, The Frost National Bank and Silverado Interests provided funding for the project, which is slated for completion in the first quarter of 2013.
HOUSTON — The LaSalle Group has plans to build an $11.2 million, 26,000-square-foot memory care facility called The Autumn Leaves of West Houston, located in Houston. The facility will be the ninth memory care community The LaSalle Group has brought to the Houston area in approximately two years. The LaSalle Group, Silverado Interests and Community Trust Bank are partners for this project, which is slated for a first quarter 2013 opening.
GARLAND — ARA has arranged the sale of the 111-unit Montclair Estates, an independent living community located in Garland. Titan SenQuest, a division of Titan Real Estate Investment Group, is the buyer, and affiliates of Walton Street Capital and Senior Lifestyle Corp are the sellers.
MIAMI — Link Construction Group has finished the $2.9 million, 15,000-square-foot Olga Maria Martinez Senior Center, located near Kendall Drive and SW 152nd Avenue in Miami. The two-story facility will provide adult daycare services and features classrooms, activity rooms, a main gathering hall, a lunch meal site and supporting office spaces. Little Havana Activities and Nutrition Center developed the property with a series of state and local grants. Vidal Architects designed the center.
