KILLEEN, TEXAS — Dallas-based Metropolitan Capital Advisors (MCA) has arranged a $3 million equity joint venture for the construction of Creekside Manor Seniors Housing Complex in Killeen. The property, which will be located within the Highway 190 Corridor, will house 13 single-story units per acre. Construction will also include a 7,000-square-foot amenity center featuring an exercise room, a swimming pool, a spa, a hair salon, a health center, a business center, a kitchen/dining area and a movie theater. The borrower was undisclosed.
Seniors Housing
TOMS RIVER, N.J. — Diversified Capital Toms River has acquired Country Manor in Toms River from Country Manor-Dover. The property is situated on 5.5 acres at 16 Whitesville Rd. and features a 59,226-square-foot single-story facility and a two-story residential building. The owner plans to keep the facility as a nursing home. John Cunningham of GVA Williams New Jersey represented both parties in the transaction. The acquisition price was undisclosed.
ROMEOVILLE, ILL. — Rosemont, Ill.-based McShane Construction Corp. has been contracted by DBA LLC to provide construction services for Midwest Senior Living, a two-building, 348-unit senior living center located at Grand Haven Circle and Edward Drive in Romeoville. The development is situated on 20 acres, and consists of two separate residential facilities. The first is a three-story, 360,430-square-foot building that comprises 121 independent living and 150 assisted living units, as well as below-grade parking for 115 vehicles. The second is a 47,414-square-foot, 77-unit building that will contain the development’s memory care residences. The center will feature a salon, a parlor/game room, a therapy pool, and a fitness and wellness center. Eppstein Uhen Architects is providing design services for the center. Completion is scheduled for fall 2009.
EL CAJON, CALIF. — Vickie Winters of Dwinn-Shaffer & Co. has arranged $14.5 million in first mortgage financing and a $2 million accounts receivable line of credit for Eldorado Care Center in El Cajon. Located at 510 E. Washington Ave., the 256-bed skilled/sub-acute care facility offers six one-bedroom units, 65 two-bedroom units, 40 three-bed wards, a 37-bed sub-acute care unit and a 35-bed secured unit, which provides dementia/behavioral rehab services.
SEATTLE — Queen Anne Manor LLC has acquired Queen Anne Manor, a 116-unit senior-housing community located at 120 Crockett St. in Seattle, for $17.2 million or $148,275 per unit. The seller, Seattle-based Alpha Care LLC, has owned and operated the property since 1980 as an assisted-living facility. The buyer plans to renovate the property to modernize operations while continuing to manage the building as an assisted-living facility. Josh Blake of Hendricks & Partners’ Seattle office negotiated the transaction.
ATLANTA — McShane Construction Corp. has completed Park View at Coventry Station on behalf of developer The Shelter Group. The 166-unit affordable senior housing project is located on a 5.75-acre site at 3381 Greenbriar Pkwy. in Atlanta. Park View at Coventry Station is part of a 138-acre, mixed-use development by master planner Priske-Jones Southeast Co., featuring single-family and multifamily residences with retail and office space. McShane’s assignment included the construction of a four-story residential building that features 66 one-bedroom units and 100 two-bedroom units.
RICH SQUARE, N.C. — Ken Carriero and Michael Pardoll of Marcus & Millichap’s Charlotte, N.C., office have represented Roanoke Valley Nursing Home, Inc., in the $2.6 million sale of Roanoke Valley Nursing Home, located at 310, 320 and 400 N. Main St. in Rich Square. Hickory, N.C.-based Agemark Acquisitions acquired the 69-bed operating skilled nursing facility, plus two additional buildings that are licensed for 70 additional beds.
LAUDERHILL, FLA. — CB Richard Ellis has represented L & A Enterprises in the $6.4 million sale of Park Regency in Lauderhill to an undisclosed buyer. The 64-unit, 85-bed assisted living facility, which is approximately 97 percent occupied, is situated on 4.29 acres at 2801 NW 55th Ave. Bruce Gibson and John Mekras of CBRE and Lisa Silvers of CBRE | Melody brokered the sale.
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