ST. PETERS, MO. — Seniors housing developer Avenue has opened its first Viva Bene active adult community in the St. Louis suburb of St. Peters. Viva Bene is Avenue’s active adult brand and is focused on offering midmarket-priced rental rates. At nearly 200,000 square feet, the St. Peters property offers 161 units. In the three months since its soft opening, the community is 50 percent leased. In addition to providing readily available preventive healthcare, Viva Bene provides a holistic wellness hub with fitness, yoga and meditation classes, a fully appointed gym, healthy cooking workshops and other wellness-focused experiential education. Residents can enjoy pools, pickleball courts and picnic areas. Unique to the Viva Bene model is a third-party collaboration with Sevi Health for preventive health services. Residents can opt to receive care navigation and chronic care management services from Sevi Health and also access primary care from the medical practice’s providers. Viva Bene leases are based on each metropolitan area’s midmarket rental pricing. At Viva Bene St. Peters, one-bedroom units start in the $1600s per month. Garage parking and additional storage units are the only add-on fees. This differs from continuum-of-care communities where monthly prices average $3,450 and fees for buy-in …
GAINESVILLE, FLA. — Continuum Advisors has arranged the sale of The Village at Gainesville, a 639-unit seniors housing community in Gainesville. SantaFe Healthcare Inc. sold the 100-acre asset to funds managed by Fortress Investment Group for an undisclosed price. The Village at Gainesville consists of nine residential buildings — six independent living, one assisted living and two memory care — and several community clubhouses with amenities. Eighty percent of the residences are dedicated to independent living. Continuum states that the property is considered one of the largest seniors housing rental communities in the United States. According to the property website, amenities include a fitness center with trainers, pool with a hot tub, tennis and pickleball courts, a reading room, hair salon, woodshop, housekeeping services and internet access. The community also offers scheduled transportation throughout the grounds and off-campus. The property sits across from Santa Fe College, a two-year community college, and within five miles of the University of Florida. SantaFe Healthcare has owned and managed The Village at Gainesville for more than 30 years and has overseen three expansion projects at the community from 1986 through 2009. The locally based healthcare owner-operator injected capital expenditures of $3 million annually into the …
BARRINGTON, N.J. — Regional brokerage firm Hudson Atlantic Realty has negotiated the sale of Barrington Mews, a 284-unit seniors housing complex located outside of Philadelphia in Southern New Jersey. Built in 1994 as affordable seniors housing, the elevator-served, age-restricted property offers one- and two-bedroom units and amenities such as community rooms, onsite laundry facilities and grilling and picnic areas. Adam Zweibel of Hudson Atlantic brokered the deal. The buyer and seller were not disclosed. The new ownership plans to transition the property to market-rate housing.
ANNAPOLIS, MD. — Demand for seniors housing has reached an all-time high, according to the National Investment Center for Seniors Housing & Care (NIC). In a press release, the Annapolis-based organization reported that occupancy rates in the United States increased 30 basis points — from 87.1 percent in the fourth quarter of 2024 to 87.4 percent in the first quarter of 2025 — referencing data from NIC MAP, which tracks occupancy rates in 31 primary markets throughout the country. Occupancy across independent living properties rose to 89 percent from 88.6 percent in the same period, and occupancy rates in assisted living communities increased to 85.8 percent from 85.5 percent. The first quarter of 2025 marked a record for occupied seniors housing units, with roughly 621,000 units occupied, an increase from 617,000 in the fourth quarter of 2024. Simultaneously, construction starts in the seniors housing sector were at only 1,076 units, their lowest since the second quarter of 2009. Approximately 19,500 units total were under construction in the first quarter of 2025, marking the lowest level since 2013. Rental rates, on average, saw a slight decrease quarter-over-quarter.
LOS ANGELES — Dan Baker, director of capital markets for JLL, says the seniors housing and care industry doesn’t need to speculate on whether the market rebound is real or perceived because the numbers tell the story. “I think last year saw the most announced seniors housing transactions ever in a calendar year, not necessarily the most dollar volume,” said Baker during a recent investment panel discussion at InterFace Seniors Housing West in Los Angeles. Baker cited the lack of larger portfolios trading hands as the reason for the modest dollar volume in transaction activity in 2024. Editor’s note: InterFace Conference Group, a division of France Media Inc., produces networking and educational conferences for commercial real estate executives. To sign up for email announcements about specific events, visit www.interfaceconferencegroup.com/subscribe. According to research firm MSCI, property and portfolio sales in the seniors housing and care space totaled $13.2 billion in 2024 compared with $10.9 billion in 2023, a year-over-year increase of 21 percent. That’s still far below the $20.7 billion in deal volume notched in 2021. The data is based on independent reports of sales $2.5 million and above. One compelling trend noted by Baker is the tremendous growth in net operating …
WOODLAND HILLS, CALIF AND AMBLER, PA. — BWE, a Cleveland-based commercial real estate financial services firm, has arranged the $308 million refinancing for a pair of seniors housing properties in the Los Angeles and Philadelphia metro areas. The financing was structured as a single transaction on behalf of a joint venture between Columbia Pacific Advisors, LAMB Properties and Harbert South Bay Partners. Momentum Senior Living operates both properties. Located in the northwest Los Angeles neighborhood of Woodland Hills, The Variel is a 336-unit community that offers independent living, assisted living and memory care services, as well as a range of amenities and wellness programs. The 270,000-square-foot (net rentable) community opened in July 2022 and was more than 90 percent occupied at the time of the loan closing. Located in the northern Philadelphia suburb of Ambler, Pa., The 501 at Mattison Estate is a 250-unit community that also offers independent living, assisted living and memory care services. Spanning approximately 200,000 net rentable square feet, the property opened in June 2022 and was 95 percent occupied at the time of loan closing. Amenities at The 501 at Mattison Estate include an art studio, courtyards with lounges and grills, a dog park, fitness …
TAMPA, FLA. — Continuum Advisors has arranged the sale of a five-property senior living portfolio totaling 340 units in Clermont, Ocala, Brandon, Lecanto and Niceville, Fla. The sales price was not disclosed. David Kliewer and Jay Jordan of Continuum represented the seller, Healthcare Management Partners (HMP), in the transaction, where three separate buyers acquired the five communities.
CUPERTINO, CALIF. — Gantry has secured a $25 million permanent loan to refinance a seniors housing community in Cupertino. Restricted to residents age 55 or older, the independent senior property features 160 studio, suite and two-bedroom floor plans. Community amenities include meal service, social activities, housekeeping and laundry, valet parking, concierge services, 24/7 staffing, a swimming pool, fitness center, meditation garden and landscaped courtyards with seating. Mitch Zeemont, Jeff Wilcox, Robert Slatt and Erinn Cooke of Gantry represented the borrower, a private real estate investor. One of Gantry’s insurance company correspondents provided the 10-year, fixed-rate loan, which features a 30-year amortization. Gantry will service the loan.
FORT WORTH, TEXAS — The Endeavor Group Real Estate (EGRE), a Wyoming-based firm, is nearing completion of the renovation of a 140-unit seniors housing complex in Fort Worth. The property at 8000 Calmont Ave., which is located in the Las Vegas Trail submarket on the city’s west side, is now known as Manor Independent Living. The renovation, which began about a year ago following EGRE’s acquisition of the property, serves to increase the community’s affordability. Leasing is now underway, with rents starting at $1,900 per month, a price that includes three meals per day. Residents will also have access to round-the-clock medical care.
LYNNWOOD, WASH. — IRA Capital has received $58 million in financing for Quail Park of Lynnwood, a 253-unit seniors housing community located at 4015 164th St. in Lynnwood. Alanna Ellis, John Chun and Zach Brantley of JLL Capital Markets Seniors Housing team placed the three-year, floating-rate senior loan with a regional bank. Additionally, Dean Ferris of JLL handled the sale of the property to IRA Capital in June 2024. Built in two phases in 2013 and 2020, the first phase consists of 131 independent living, assisted living and memory care units, and the second phase features 122 independent living and assisted living units, including 26 cottages and 16 enhanced assisted living units for a full continuum of care. Units offer studio, one- and two-bedroom floor plans, averaging 720 square feet with full kitchens. Community amenities include a fitness center, movie theater, putting green, walking trails, bistro and pub, meditation room, sustainable gardening and a host of activities, outings and social celebrations.