Seniors Housing

MCSHANE BREAKS GROUND ON SENIOR LIVING FACILITY

by admin November 2, 2011

DEL RIO — McShane Construction has commenced construction on the 48-unit Las Brisas Manor Senior, an independent living facility, on behalf of the developer, The Paces Foundation. The 60,229-square-foot property will feature a brick exterior and individual porches and balconies. Martin Riley Associates – Architects is designing the facility to achieve Green Built Texas designation. Funding for the project came from the Texas Department of Housing and Community Affairs through its HOME Investment Partnerships Program. The facility is slated for a June 2012 completion.

November 2, 2011

ATRIUM OF BELLEVILLE IN ILLINOIS SELLS FOR $2 MILLION

by admin October 31, 2011

BELLEVILLE, ILL. — In a joint venture, Cerulean Partners LLC and an entity associated with The Inland Real Estate Group of Companies, has purchased the Atrium of Belleville, a 76-unit senior living community in Belleville, Ill. for $2 million. The Atrium, formerly known as Grand Court, was previously owned by Brookdale Senior Living Inc. Cerulean, based in Chicago, plans to invest $1.5 million in property improvements.

October 31, 2011

Midwest Seniors Housing

PARIC BEGINS $50M RENOVATION OF CONTINUING CARE COMMUNITY

by admin October 26, 2011

COLUMBIA, MO. — St. Louis-based Paric is beginning construction on a $50 million addition and renovation at Lenoir Woods continuing care retirement community in Columbia, Mo. The five-year project is planned in phases, and construction includes a new two-story assisted living building, a four-story independent living building with underground parking and a new memory care facility. The senior living community is operated by St. Louis-based Lutheran Senior Services.

October 26, 2011

Northeast Seniors Housing

NORTHBRIDGE HOLDS GROUNDBREAKING FOR 110-UNIT CARE COMMUNITY

by admin October 24, 2011

BURLINGTON, MASS. — The Northbridge Co. held a groundbreaking for its 110-unit assisted living and memory care community, located at 50 Network Dr. in Burlington, Mass. Situated on nearly nine acres of undeveloped land, the project will include one-and two-bedroom apartments, a cafe and theater. The development team includes Chelsea, Mass.-based The Architectural Team, Bridgewater, Mass.-based Callahan Construction and Needham, Mass.-based Waypoint Construction Consultants. The community is scheduled to open in the fall of 2012.

October 24, 2011

Seniors Housing Texas

CANYON TO BUILD SKILLED NURSING FACILITY IN AMARILLO

by admin October 24, 2011

AMARILLO — Canyon Long Term Care has plans to build a 120-bed skilled nursing facility in Amarillo. Canyon is working with LTC Properties, the landlord, to develop the 50,000-square-foot facility. The new facility will replace an old healthcare facility in Canyon and will feature multiple dining areas and private rooms with bathrooms and showers. Construction is slated to begin this year and the facility is expected to open in late 2012.

October 24, 2011

Midwest Seniors Housing

MARCUS AND MILLICHAP BROKERS $52M SENIOR HOUSING PORTFOLIO

by admin October 20, 2011

INDIANAPOLIS —Marcus & Millichap Real Estate Investment Services has closed the sale of a three-property senior housing portfolio for $52 million. The properties include the 122-unit Forest Creek Commons in Indianapolis, the 114-unit North Woods Commons in Kokomo, Ind. and the 154-unit Covington Commons in Fort Wayne, Ind. Mark Myers of Marcus & Millichap's Chicago office and Chris Hyldahl of the firm's Los Angeles office represented the seller, BAI of Indiana. They also represented the buyer, Newton, Mass.-based Five Star Quality Inc.

October 20, 2011

Seniors Housing Texas

LTC PROPERTIES BUYS SENIOR HOUSING PROPERTY FOR $15.5M

by admin October 13, 2011

PASADENA AND AMARILLO — LTC Properties has recently acquired a 196-bed skilled-nursing facility, located in Pasadena, for $15.5 million in a sale-lease back transaction. LTC has also purchased a vacant parcel of land in Amarillo for $844,000 for the construction of a 120-bed skilled-nursing facility. The new skilled-nursing facility is slated for completion in mid to late 2012.

October 13, 2011

Seniors Housing Southeast

WALTON STREET SELLS SENIOR HOUSING COMPLEX

by admin October 12, 2011

CARY, N.C. — Walton Street Capital has sold the 176-room Woodland Terrace, a senior housing community located at 300 Kildaire Woods Dr. in Cary. CLW Health Care Services Group represented the seller in the transaction. The buyer was a Prudential-related entity. Kisco Senior Living, which was a minority partner for both the buyer and seller, will continue to manage the property.

October 12, 2011

Midwest Seniors Housing

THREE UNITS OF COTTAGES AT JOHNSTON COMMONS COMPLETE

by admin October 10, 2011

JOHNSTON, IOWA — Hubbell Construction has completed three units and the clubhouse for the $5.9 million, 31-unit The Cottages at Johnston Commons, a senior living community located at 5814 Northglenn Dr. in Johnston. An additional eight units are slated for completion by the end of October. Amenities include a community gardening area, clubhouse, business center and 24-hour fitness center.

October 10, 2011

Northeast Seniors Housing

LOVE FUNDING PROVIDES $7.86M LOAN TO WHITCOMB HOUSE

by admin October 10, 2011

MILFORD, MASS. — Love Funding has provided $7.86 million financing for the 87-bed Whitcomb House, an assisted-living community located at 245 W. St. in Milford. Leonard Lucas of Love's Boston office arranged the 35-year, self-amortizing loan through HUD.

October 10, 2011

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