OKLAHOMA CITY — Developer HarborChase has completed HarborChase of South Oklahoma City, an upscale seniors housing community. The property offers assisted living and memory care services, as well as respite stays. Amenities include a full-service bistro, exhibition kitchen, bar and cocktail lounge, fitness and wellness center and a fine dining restaurant. Residents have already begun moving into the building.
CALIFORNIA — JCH Senior Housing Investment Brokerage has arranged the sale of two assisted living communities in California. The first community totals 49 beds in Riverside County. A local owner seeking to grow its portfolio paid $5 million for the property. The second property was a 15-unit boutique community in Orange County. A local buyer interested in entering the seniors housing market paid $3.3 million for the asset. Both sellers were family owner-operators looking to retire. Jim Hazzard, and Cindy Hazzard handled the transaction process in both sales. The specific names and locations of the communities were not disclosed.
PROSPECT, KY. — Civitas Senior Living has opened the doors at The Grand Senior Living in Prospect, a suburb of Louisville. The property totals 191,832 square feet near Norton Commons, a massive mixed-use development with restaurants, retail services, annual festivals and single-family homes. The development was completed approximately 10 years ago on 600 acres of vacant farmland. The Grand features 91 independent living, 62 personal care and 24 memory care residences. Guttman Properties, based in nearby Cincinnati, developed The Grand, which Civitas is operating.
TAMPA, FLA. — Atlanta-based Carter has sold Nine15 Apartments, a 23-story, 362-unit community in downtown Tampa. The property offers studio, one- and two-bedroom floor plans. Communal amenities include a 3,500-square-foot fitness center, sky lounge, pool, business center, clubhouse, car charging stations and 9,000 square feet of street-level retail space. Nine15 is situated on one acre within the Arts and Entertainment District, two blocks from the Tampa Riverwalk. Carter delivered the community in 2017. Walker & Dunlop represented the seller in the transaction. Charleston-based Blaze Partners LLC acquired the asset for an undisclosed price.
FORT WORTH, TEXAS — Locally based general contractor KWA Construction has topped out The Cooper, a 390-unit apartment project located in Fort Worth’s Medical District. Designed by architecture firm GFF and developed by Dallas-based Lang Partners, The Cooper will feature studio, one-, two- and three-bedroom units, as well as townhomes. Amenities will include a pool, fitness center with a yoga studio, outdoor grilling area, media center, clubhouse, business center and a coffee bar. Completion is slated for this fall.
NEW BRAUNFELS, TEXAS — Houston-based development and management firm Allied Orion Group has begun leasing Riverhaus Creekside, a 281-unit apartment community in the San Antonio suburb of New Braunfels. Floor plans feature one-, two- and three-bedroom units ranging in size from 722 to 1,440 square feet. Riverhaus Creekside offers amenities such as a pool, fitness center, dog park and a resident clubhouse with a cyber lounge. Move-ins are expected to begin later this month.
CARROLLTON, TEXAS — JK & JY Development LLC has broken ground on The View Condominiums, a 268-unit residential project in the northern Dallas suburb of Carrollton that will also include 31,000 square feet of retail and restaurant space. Designed by locally based firm Humphreys & Partners Architects, the property will offer amenities such as a pool, social lounge, fitness center, game room, business center and a fully equipped kitchen and bar. Construction is expected to be complete by early 2022.
AUSTIN, TEXAS — PCCP LLC has provided a $46 million acquisition loan for Indie and Candela, two adjacent apartment communities totaling 258 units in Austin. Indie was completed in mid-2018, totals 139 units and includes ground-floor retail space. Candela was completed in mid-2019 and features 119 units and various amenities on the ground floor. The seller was Transwestern Development Co. The borrower was not disclosed.
CHICAGO — Lendlease Development, along with co-developer The John Buck Co. and partner Intercontinental Real Estate Corp., have begun pre-leasing at Porte, a two-tower apartment development in Chicago’s West Loop. Designed by G|R|E|C Architects, the community is scheduled to welcome its first residents in late spring. Porte offers studio, one-, two- and three-bedroom units ranging in size from 546 to 1,591 square feet. Monthly rents start at $2,170. Two-bedroom townhomes measure 1,469 to 2,036 square feet with monthly rents starting at $7,240. Each tower will have its own ground-floor lobby and amenity suite, including a fitness center, entertainment lounge, game room, communal kitchen, coworking space and dog run. The towers will be connected by a two-story podium topped with a pool deck. The word “porte” means door in French. “Porte is designed to serve as a door to all the West Loop has to offer,” says John Buck.
PATERSON, N.J. — Love Funding Corp. has provided two loans totaling $55.6 million for the construction and permanent financing of Riverside Village Senior Apartments and Riverside Village Family Apartments. Both properties are located in Paterson, a northwestern suburb of New York City. The borrower was Roizman Development. The lender provided the developer with low-rate, nonrecourse financing for the duration of construction and for a subsequent 40-year term. Riverside Village Senior Apartments will feature 81 units in a four-story, elevator-serviced building. Riverside Village Family Apartments will feature 165 townhouse-style rental units. The construction will be part of an existing public housing development known as Riverside Terrace, currently containing 300 units. The apartment complex will be the second phase of the Riverside Terrace Master Redevelopment Plan. Inglese Architecture + Engineering is serving as the design architect, and ETC Cos. LLC is the general contractor. S.H.N.I.R. Apartment Management Corp. will be the operator. Riverside Senior Apartments is slated for completion in June 2021. Riverside Village Family apartments is slated for completion in January 2022.