Seniors Housing

Watermark, ZOM Open 154-Unit Seniors Housing Community in West Palm Beach

by John Nelson March 28, 2023

WEST PALM BEACH, FLA. — Watermark Retirement Communities and ZOM Senior Living have opened The Watermark at West Palm Beach, a 154-unit seniors housing community in the South Florida city of West Palm Beach. The community is the latest addition to Watermark’s luxury Élan Collection of communities. Spanning over 245,000 square feet, The Watermark at West Palm Beach encompasses studios, one-bedroom and two-bedroom apartments offering independent living, assisted living and memory care services. The community is directly across the street from the new Brightline train station that allows easy access to Fort Lauderdale and Miami.

March 28, 2023

Acquisitions Multifamily New Mexico Seniors Housing Western

Blueprint Brokers Sale of 52-Bed Sunset Villa Care Center in Roswell, New Mexico

by Jeff Shaw March 28, 2023

ROSWELL, N.M. — Blueprint Healthcare Real Estate Advisors has arranged the sale of Sunset Villa Care Center, a 52-bed skilled nursing facility in Roswell. The facility is located within three miles of two regional acute care hospitals. It was built in 1965, but “is very well maintained, and had strong recent and historical financial trends,” according to Blueprint. Blueprint’s marketing efforts focused on highlighting the facility’s high cash flows, operating margins, and the local submarket’s strength. At the time of marketing, the facility was running revenues of about $6 million. The buyer was a private owner-operator based in Los Angeles. The seller and price were not disclosed.

March 28, 2023

California Development Multifamily Seniors Housing Western

MorningStar Completes Renovations at 144-Unit Seniors Housing Community in Pasadena, California

by Jeff Shaw March 27, 2023

PASADENA, CALIF. — MorningStar Senior Living has reopened its 144-unit community in Pasadena. Soon after assuming management in December 2020, MorningStar, a Denver-based senior living owner and operator, began a complete renovation of the four-story community. Aneka Interiors led the redesign, which included the addition of memory care services to the community. MorningStar is planning an expansion building next door to the existing community that will offer additional independent living, which is scheduled to open in early 2025.

March 27, 2023

Loans Lument Multifamily Seniors Housing Texas

Lument Provides $15.7M Loan for Refinancing of Seniors Housing Property in Southlake, Texas

by Taylor Williams March 24, 2023

SOUTHLAKE, TEXAS— Lument has provided a $15.7 million bridge loan for the refinancing of a 91-bed seniors housing property in Southlake, a northern suburb of Fort Worth. The facility offers assisted living and memory care services. Doug Harper, Chris Mauger and Casey Moore of Lument originated the financing, which carried a 36-month term and a one-year extension option, on behalf of the borrower, California-based owner-operator Silverado.

March 24, 2023

Loans Multifamily Seniors Housing Texas

Ziegler Arranges $76M Bond Financing for Brazos Presbyterian Homes in Texas

by Taylor Williams March 23, 2023

HOUSTON — Ziegler has arranged $76 million in bond financing for Brazos Presbyterian Homes (BPH), a nonprofit seniors housing owner-operator based in Houston. The tax-exempt, draw-down bonds are supported by a three-bank syndicate comprised of Amegy Bank, Hancock Whitney and Trustmark. BPH owns and operates three continuing care retirement communities in Texas: Brazos Towers at Bayou Manor, The Hallmark and Longhorn Village. The bonds will fund an expansion project at Longhorn Village, refinance bonds from 2013 and pay the costs of issuance. The expansion project will add 48 independent living apartments to the community, as well as underground parking. Greenbrier Development is assisting with the development.

March 23, 2023

Loans Lument Multifamily Seniors Housing Texas

Lument Provides $21.1M Loan for Refinancing of Houston Seniors Housing Property

by Taylor Williams March 23, 2023

HOUSTON — Lument has provided a $21.1 million bridge loan for the refinancing of Hermann Park, an 80-bed seniors housing property in Houston. The facility offers assisted living and memory care services. Doug Harper, Chris Mauger and Casey Moore of Lument originated the financing, which carried a 36-month term and a one-year extension option, on behalf of the borrower, California-based owner-operator Silverado.

March 23, 2023

Loans Lument Multifamily Seniors Housing Texas

Lument Provides $18.6M Acquisition Loan for Austin Seniors Housing Property

by Taylor Williams March 22, 2023

AUSTIN, TEXAS — Lument has provided an $18.6 million bridge loan for the acquisition of Barton Springs, a 56-bed seniors housing property in Austin. The facility offers assisted living and memory care services. Doug Harper, Chris Mauger and Casey Moore of Lument originated the financing, which carried a 36-month term and a one-year extension option, on behalf of the borrower, California-based owner-operator Silverado.

March 22, 2023

Development Multifamily New Jersey Northeast Seniors Housing

Sunrise Opens 86,000 SF Seniors Housing Community in Livingston, New Jersey

by Taylor Williams March 22, 2023

LIVINGSTON, N.J. — Sunrise Senior Living has opened an 86,000-square-foot community in Livingston, approximately 20 miles west of Manhattan. Sunrise of Livingston provides assisted living and memory care services. Although the number of units was not disclosed, Sunrise said the property can serve more than 120 residents. Lantz-Boggio Architects designed the property, which Wohlsen Construction Co. built.

March 22, 2023

Development Florida Hospitality Loans Seniors Housing Southeast

Capital Funding Group Provides $27.2M Loan for Seniors Housing Conversion Project in South Florida

by John Nelson March 22, 2023

SUNRISE, FLA. — Capital Funding Group has provided a $27.2 million construction loan for the conversion of a partially completed hotel in South Florida to a 191-unit assisted living community. The property is located at 3003 N. University Drive in Sunrise, about 10 miles west of Fort Lauderdale. The borrower, YMP Real Estate Management, will use $7.4 million of the financing to complete the shell construction. YMP will also manage the seniors housing community when it opens. The construction timeline was not disclosed.

March 22, 2023

Acquisitions Florida Seniors Housing Southeast

Virtus Real Estate Capital, Blaze Capital Acquire 163-Unit Active Adult Property in Metro Orlando

by John Nelson March 22, 2023

DAVENPORT, FLA. — Austin, Texas-based Virtus Real Estate Capital and Charleston, S.C.-based Blaze Capital Partners have acquired The Pointe at Siena Ridge, a 163-unit active adult residential community in the Orlando suburb of Davenport. The seller and sales price were not disclosed. The property was constructed in 2021 and features a mix of one- and two-bedroom apartments ranging in size from 753 to 1,046 square feet that are reserved for residents 55 and older. Each unit features 9-foot ceilings, in-unit washers and dryers, stainless steel appliances and private, screened-in balconies and patios. Community amenities include a resort-style swimming pool, elevator access, fitness center, movie theater, hair salon, bocce ball court, clubhouse and coffee bar and wine lounge. The property also provides tenants with 23 detached garages and electric vehicle charging stations. The Pointe at Siena Ridge is Blaze Capital’s fourth active adult acquisition in Florida.

March 22, 2023

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