KANSAS CITY, MO. — Tutera Senior Living & Health Care has added 26 senior living communities to its portfolio through a transaction with AlerisLife and an ongoing partnership with Diversified Healthcare Trust. The expansion, which includes eight owned acquisitions and 18 new management agreements, strengthens Tutera’s Midwest presence. With this addition, Kansas City-based Tutera will operate 108 communities across 11 states, with 66 dedicated senior living communities totaling 5,422 units. The company’s overall portfolio now encompasses 9,755 units, with a mix of 56 percent senior living and 44 percent skilled nursing. The expansion broadens Tutera’s footprint into Tennessee, adding to its presence in Alabama, Illinois, Indiana, Iowa, Kansas, Louisiana, Missouri, Nebraska, Oklahoma and South Carolina. The phased acquisition and transition of the 26 communities is expected to be completed by the end of the year. Some properties will transition to new names under Tutera.
BERKELEY, MO. — BridgeCore Capital Inc. has provided a $1.8 million loan for the refinancing of a 44-unit, two-story multifamily property in Berkeley, a northwest suburb of St. Louis. The asset was built in 1957. The borrower was experiencing multiple technical defaults resulting from complexities with the existing agency lender. BridgeCore coordinated directly with the mortgage advisory team and title company to close the transaction within the expedited timeframe. BridgeCore also solved a number of unexpected ancillary issues that arose during the due diligence and closing process, including removal of one of the guarantors, adjusting the insurance coverage period at loan commencement and restructuring an entity certification into a written consent.
When Stealers Wheel lamented being “stuck in the middle with you” in their 1972 song of the same name, they were assuredly not intending to sing from the perspective of a senior searching for a place of residence. Nevertheless, the lyric could today very aptly be applied to the predicament that many potential seniors housing residents face. According to the National Investment Center for Seniors Housing & Care (NIC), the number of middle-income seniors in the United States is projected to almost double by 2029, totaling roughly 14 million seniors. NIC also purports that more than half of these individuals will not have the financial means to pay for seniors housing out of pocket. NIC defines middle-income seniors as those with $25,001 to $74,298 in annual income and assets in its executive summary on the topic of the “forgotten middle,” which was published in 2019. At the same time, many of these same seniors do not qualify for residence in affordable housing units. “These are older adults — lots of older adults — who don’t qualify for affordable housing but also can’t afford the cost of many private-pay options,” explains John Cochrane, president and CEO of HumanGood, a nonprofit …
By Taylor Williams Dallas-Fort Worth (DFW) is a multifamily powerhouse, and after nearly three years of elevated interest rates, massive volumes of new deliveries and stagnated trading activity, the metroplex’s investment sales market may soon be showcasing that alpha status once again. Of course, that sentiment was prevalent at the very beginning of the year too. Optimism for lower interest rates and pro-growth policies understandably accompanied the arrival of the second Trump administration. Local factors, such as the peaking of the wave of new supply and the ever-steady flow of jobs and people into the metroplex, augmented that sentiment such that many multifamily lenders and investors entered 2025 with considerably more ebullience following a couple of rough years in 2023 and 2024. “Coming out of the gates, things felt pretty good, but a lot of this year’s volatility was based on [interest] rate movement, which was primarily based on geopolitical issues,” says Drew Kile, executive managing director of investments at Institutional Property Advisors (IPA), a division of Marcus & Millichap. “Had rates come down methodically more like the last two months, there would have been less of an impact. It’s hard for buyers to make decisions when rates are whipsawing …
FARMERS BRANCH, TEXAS — Locally based developer SWBC Real Estate has broken ground on The Royalton at Mercer, a 500-unit multifamily project that will be located in the northern Dallas metro of Farmers Branch. The site is adjacent to a 15-acre private lake, and the project will be developed in two phases that will feature 262 and 238 units, respectively. Residences will come in one- and two-bedroom floor plans and will feature quartz countertops, stainless steel appliances and walk-in closets. Amenities will include a pool, biergarten, outdoor gaming areas, a business lounge, fitness center and walking and biking trails. Cross Architects is designing the project. John R. McAdams Co. is the civil engineer, and Carleton Cos. is the general contractor. Completion of Phase I is slated for late 2027.
FORT WORTH, TEXAS — Trademark Property Co. has begun leasing The Vickery, a 321-unit multifamily project in downtown Fort Worth. Designed by GFF and developed in partnership with SCOA Real Estate Partners, The Vickery consists of 307 apartments, 14 townhomes and a 5,300-square-foot restaurant with a second-story lounge, as well as an amenitized green space. Residential amenities include a pool, rooftop lounge and coworking space. Construction began in February 2024 and topped out in January 2025. Rents start at roughly $1,500 per month for a studio apartment.
BRIDGEWATER, N.J. — Continuum Advisors has brokered the sale of Laurel Circle, a 270-unit continuing care retirement community located in the Northern New Jersey community of Bridgewater. Totaling 270 units, Laurel Circle features 183 independent living apartments, 19 independent living villas, 30 assisted living residences, 10 memory care units and 28 skilled nursing units. The property also includes several undeveloped acres for future expansion. David Kliewer and Jay Jordan of Continuum arranged the transaction. An affiliate of Maxwell Group and Senior Living Communities was the buyer. The seller, a joint venture that included seniors housing owner-operator LCS, recently invested more than $15 million in capital improvements to the property.
NEW YORK CITY — Locally based brokerage firm Ariel Property Advisors has arranged the $24 million sale of a multifamily development site in the Park Slope area of Brooklyn. The assembled site at 67-75 4th Avenue and 77 St. Marks Place can support 84,780 buildable square feet of product. Sean Kelly, Stephen Vorvolakos and Nicole Daniggelis of Ariel represented the seller, private investor Tolib Mansurov, in the transaction. The buyer was another private investor, Shimon Kleinman.
GRESHAM, ORE. — USA Properties Fund and Northwest Housing Alternatives have completed Terracina Vista, an affordable housing community in Gresham, approximately 10 miles from downtown Portland. Located at 16503 E. Burnside St., Terracina Vista offers 92 one-, two- and three-bedroom apartments for residents earning less than 60 percent of the area median income. Apartments feature energy-efficient appliances and lighting and low-flow faucets, showers and toilets. Community amenities include a community room, computer workstations, indoor bike storage, elevators and laundry facilities. Funding for Terracina Vista was made possible by a private-public partnership with the City of Gresham, Oregon Housing and Community Services and Oregon Metro as subsidy lenders. WNC & Associates is the tax credit investor on the $43 million development. Capital One was the construction lender, with Citi Community Capital as the permanent lender.
SAN FRANCISCO AND IRVINE, CALIF. — BRIDGE Housing and Avanath Communities have jointly formed an affordable and workforce housing property management company called Brighthaven Communities. Initially, Brighthaven will provide property management services to the two organizations’ combined portfolio of properties, which totals approximately 30,000 affordable homes across 15 states. The new company plans to extend its services beyond the partners’ own properties to include other nonprofit and for-profit owners of affordable and workforce housing communities. Brighthaven will be governed by a six-member board with equal representation from both organizations. Avanath is an Irvine-based private investment firm, and BRIDGE is a nonprofit affordable housing owner and developer headquartered in San Francisco.