TOLEDO, OHIO — Toledo-based Health Care REIT has closed on $133 million in first-mortgage financing secured by 12 senior housing properties. The locations of the properties were not released, and they contain multiple levels of healthcare service. The loan carries a 10-year term and a 6.1 percent fixed interest rate. KayBank Capital Markets originated the loan and intends to sell it to Freddie Mac.
PENSACOLA, FLA. — A privately-owned partnership has sold the 114-unit Veranda senior housing complex to the Rauls family of Georgia, a senior housing owner and operator, for $10.2 million. The property is located at 6982 Pine Forest Rd. in Pensacola. The 143,640-square-foot complex was built in 2004 and is currently 61 percent occupied. CLW Health Care Services Group of Tampa, Fla., represented the seller.
CHICAGO — Rosemont, Ill.-based McShane Construction Co. has commenced construction for Casa Maravilla, a five-story, affordable senior housing project located at 2021 S. Morgan St. in Chicago’s Pilsen neighborhood. The project will comprise 73 rental units in a mix of studio, one- and two-bedroom units. Community amenities will include a dining area, a community room, a therapy room, a library and a recreation room. The project is registered under Chicago’s Green Homes program; sustainable features will include a green room, a geothermal HVAC system, an eco-friendly elevator structure, Energy Star appliances and permeable pavement surfaces. Weese Langley Weese is serving as project architect, and completion is scheduled for June 2010. McShane is building the project for The Resurrection Project, a non-profit affordable housing developer. McShane is building a second Chicago project for The Resurrection Project, a seven-story, 45-unit affordable housing project named Casa Morelos that is scheduled for completion this summer.
LYNDHURST, N.J. — Hasbrouck Heights, N.J.-based DMR Architects has been selected to provide design and construction management services for the development of a 50-unit affordable senior housing project, located at the corner of Valley Brook Avenue and Warren Street in Lyndhurst. The project will total five stories with mostly one-bedroom units. Building amenities include a community room, administrative offices, an activities room, laundry facilities, a mailroom and 24 off-street parking spaces. Construction is expected to begin in 2010. The project is being developed by Domus Corp., which is leasing the site for a 40-year term from the nearby Sacred Heart Catholic Church. Domus will be working in conjunction with the Catholic Charities organization of the Archdiocese of Newark, N.J. Construction financing is being provided by the HUD Section 202 program.
CARY, N.C. — Ocala, Fla.-based Edwards Construction Services has nearly finished work on the 61,956-square-foot Sunrise Senior Living facility in Cary. Features of the property include a full-service kitchen, laundry and hair-care areas, an entertainment center, a library and a crafts area. The $11 million project was originally slated to deliver in December.
SOUTHLAKE, TEXAS — Carrollton, Texas-based Cantex Senior Communities has acquired approximately 5.6 acres of land within Stonebridge Office Park in Southlake for the development of The Carlyle at Stonebridge Park, a high-end residential health service facility. Cantex Senior Communities, which was founded in 1978, currently owns and operates 18 senior communities in Texas. Stonebridge Office Park is an upscale medical, office and retail development located along Southlake Boulevard just west of the intersection of Davis Boulevard in Southlake. Colleyville, Texas-based Realty Capital Corp. sold the property.
FORT WORTH, TEXAS — Senior Quality Lifestyles Corp., a Dallas-based owner of non-profit retirement communities in Texas, has selected the project team for The Stayton at Museum Way, the company’s new senior housing project located in the Cultural District of Fort Worth. The project will be developed by Greystone Communities and built by Andres Construction. The project architect is CSD Architects, the landscape architect is Talley Associates and the interior designer is Studio Six 5. The Stayton at Museum Way will comprise 188 independent living units in a mix of one-, two- and three-bedroom residences. They will be located within three interconnected, 11-story towers. Amenities include fine and casual dining with view of downtown Fort Worth, outdoor terraces and dining spaces, local artwork within the buildings, a dog park and other resort-style amenities. The project will incorporate sustainable elements including native and drought-resistant landscaping, wood flooring made from rapidly renewable sources, and low-emitting carpets and paints. The construction timetable was not released.
OCALA, FLA. — Edwards Construction Services of Ocala has started three projects in The Villages of Lake Sumter, an Ocala retirement community. The company is demolishing and undertaking interior reconstruction of the 52,500-square-foot La Reina building. Edwards is also constructing the 9,129-square-foot Creek Side Mill building and the 8,791-square-foot Morgan Stanley Shell building.
SAN SABA, TEXAS — An East Texas entrepreneur has purchased an 80-bed nursing home in San Saba for an undisclosed price. The acquisition also includes a historic home located adjacent to the nursing home facility. Robyn Jackson of Sperry Van Ness’ Fort Worth, Texas, office represented both undisclosed parties in the transaction.
HAVERTON AND MALVERN, PA. — The Downtown Chicago and Philadelphia offices of Marcus & Millichap has brokered the sale of two nursing centers located in Haverton and Malvern for $12 million. The properties include Haverford Nursing & Rehabilitation Center and Main Line Nursing & Rehabilitation Center. They total 190 beds. Jacob Gehl and Mark Myers of Marcus & Millichap represented the seller and the buyer, both of which were undisclosed limited liability companies.