GREENDALE, WIS. — An affiliate of Chicago-based Senior Lifestyle Corp., in a joint venture with an affiliate of Chicago-based Walton Street Capital, has acquired a senior housing community in Greendale. Situated on a 14-acre site, Harbour Village is located less than 10 miles from downtown Milwaukee. The three-building community houses 142 independent living apartments, 38 assisted living apartments and 52 memory care apartments. Amenities at the property include a fine-dining restaurant, fitness center, housekeeping, transportation, and on-site banking, salon, florist and dry-cleaning services. The acquisition price was not disclosed.
SWANSEA, ILL. — Swansea-based Holland Construction Services is building the Cambridge House of Swansea, a 103-unit supportive living facility for seniors in Swansea. The three-story property includes 87,461 square feet of space in three wings that surround a core area. Amenities at the property include an exercise room, television and library area, convenience shop, and kitchen. The $8.1 million project is currently underway.
KATY, TEXAS — Houston-based Live Oak Capital has structured acquisition and development financing for The Providence at Grand Parkway Apartments, a 250-unit, independent living, senior community located at 22801 Franz Rd. in Katy. The age-restricted community will feature 36 bungalow-style units averaging 886 square feet, in addition to the other apartment units. Property amenities include a 10,000-square-foot amenities center that features a central dining room, a game room, a coffee bar, a fitness center, a theater, a business center, a library, a salon, a spiritual center and a sundries store. Other amenities include a swimming pool, a 2-acre lake and walking paths. Jim Kirkpatrick and Tip Strickland of Live Oak Capital secured a $16.2 million senior loan through Charlotte, N.C.-based Bank of America and $4.5 million in equity through Washington, D.C.-based Perseus Realty Partners. The financing includes 95 percent loan-to-value ratio. The borrower is Providence Grand Parkway, Ltd., an entity led by the project’s developer, Houston-based Blazer Building. The project is being designed by Houston-based Mucasey & Associates. Construction is slated to begin this month.
HOUSTON — Dallas-based Faulkner Design Group has completed the interior design and planning for The Village at Gleannloch, a continuing care retirement community located at the intersection of Spring Cypress Road and Interstate 249 in Houston. The project will include more than 130 independent living apartments and cottages, as well as 80 units for assisted living, skilled care and memory support specialization. Amenities for the project include a fitness center, an arts studio, a salon and spa, a 100-seat chapel, outdoor patio areas, a swimming pool, a library and business center, and a café. The senior housing facility is one component of the Gleannloch Farms master-planned community. Other components include a variety of residential housing options, a lakeside aquatic and athletic complex, an equestrian center, a championship golf course, hiking and biking trails, and schools.
LINDEN, N.J. — Construction has been completed for John T. Gregorio Towers, a seven-story, 78-unit senior housing project located in Linden. Amenities for the facility include a multi-purpose room, an outdoor area, tenant lounges on each floor, and activity rooms that include laundry facilities, visiting areas, physicians services, a beauty salon and a computer room. The project was designed by Gran Kriegal Associates for the developer, City of Linden Housing Corp. Funding was provided by the Housing and Urban Development Authority and Linden Housing Corp.
MCLEANSBORO, ILL. — Swansea, Ill.-based Holland Construction Services is building the 30,430-square-foot Fox Meadows supportive living facility, which will be located on South Marshall Avenue in McLeansboro. The $4 million facility will include 41 studio and one-bedroom apartments for adults aged 65 and older. With a central full-service kitchen and dining room at the property, each individual unit features a kitchenette. The building, which is slated for completion in November, was designed by Sugar Grove, Ill.-based Gleason Architects. Upon completion, Blair Minton and Associates Inc. will manage Fox Meadows.
STRONGVILLE, OHIO — PNC ARCS has arranged $6 million in financing for Southwest Commons Assisted Living community, which is located at 18090 Pearl Rd. in Strongville. Financing was based on a 10-year term, with a 30-year amortization schedule, at a rate of 6.77 percent. The 68-unit property contains 25,912 square feet of residential living space. The loan was originated by PNC ARCS’ Bend office, through Fannie Mae’s Senior Housing loan product.
WEST CALDWELL, N.J. — Union, N.J.-based Del-Sano Contracting Corp, has been selected to provide general contracting services for the construction of Phases II and III of Crane’s Mill, a 35-acre senior housing facility located in West Caldwell that is being developed by Lutheran Social Ministries of New Jersey. The project is expected to cost $27 million, and construction will begin this month. Phase II will include the construction of 70 independent units with 47 underground parking spaces, as well as 10 cottages with attached garages. The independent living units will be located in a two-story building attached to the existing central facility. Phase III of Crane’s Mill will encompass 20,000 square feet of new and existing space. A new wing will be added that will house the memory support area, a dementia courtyard and renovated common areas for the assisted living areas. Construction will also include the conversion of 18 of the facility’s 60 assisted living units into dementia units. Upon completion, Crane’s Mill will contain 286 independent living units, 48 assisted living units and 18 dementia units, with 66 of the units set aside for skilled nursing and rehabilitation services. The first phase of the community was completed in …
NASHUA, N.H. — Bedford, N.H.-based Eckman Construction has completed AHEPA 35 Manor, a $4.3 million senior housing project located in Nashua, on behalf of the American Hellenic Educational Progressive Association. Construction consisted of a 38-unit apartment building for low-income elderly and handicapped residents. The building features several units that are handicap accessible. The project was designed by Colchester, Conn.-based Peter W. Argiros Architecture. It was funded through the Section 202 program of the U.S. Department of Housing & Urban Development.
INDIANAPOLIS — Tikijian Associates has brokered the sale of Atrium Village Apartments, a 116-unit senior housing community located near 25th Street and Mitthoeffer in Indianapolis. Lakewood, New Jersey-based TLK Properties has acquired the facility from Indianapolis-based Barrett & Stokely Inc. The property, which consists of two-bedroom, ground-floor units, was listed for $5.9 million. TLK Properties will continue to run Atrium Village as a senior housing facility.