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Seniors Housing

AcquisitionsSeniors HousingSoutheastVirginia

Clarion Completes First Seniors Housing Acquisition, Buys 103-Unit Community in Metro Richmond

by John Nelson

MECHANICSVILLE, VA. — Investment firm Clarion Partners has acquired Sancerre at Atlee Station in Mechanicsville, marking the first seniors housing acquisition for the New York City-based company. NexCore Group sold the property for an undisclosed price. Experience Senior Living, a subsidiary of NexCore, will continue to operate the community. Opened in September 2023, Sancerre at Atlee Station totals 103 units, with independent living, assisted living and memory care options available for residents. BWE investment Sales, an affiliate of BWE, facilitated the transaction.

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Sturges-Ridge-of-Fairfield
ConnecticutLoansMultifamilyNortheastSeniors Housing

BWE Funds $35.3M Agency Permanent Loan for Seniors Housing Complex in Fairfield, Connecticut

by Taylor Williams

FAIRFIELD, CONN. — Cleveland-based commercial finance firm BWE has funded a $35.3 million Freddie Mac permanent loan for Sturges Ridge of Fairfield, a 99-bed seniors housing complex located in southern coastal Connecticut. The property opened in 2018, houses 88 units and offers assisted living and memory care services. Amenities include game/activity lounges, a fitness and wellness center, private dining room, library with computer stations, full-service salons and a pet therapy program. Taylor Mokris and Ryan Stoll of BWE originated the 10-year, fixed-rate loan on behalf of the undisclosed borrower.

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DevelopmentMontanaMultifamilySeniors HousingWestern

Trident Development Plans New Seniors Housing Community in Missoula, Montana

by Amy Works

MISSOULA, MONT. — Trident Development is underway on plans for a new senior living community in Missoula. Situated within the Old Sawmill District, the property will feature independent living, assisted living and memory care residences. Trident’s partner, Lifespark Senior Living, will manage the community. Trident plans to break ground on the development in 2026. 

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AcquisitionsMultifamilyOregonSeniors HousingWestern

Zett Group Arranges $18.5M Sale of Seniors Housing Community in Eugene, Oregon 

by Amy Works

EUGENE, ORE. — Senior living brokerage firm The Zett Group has arranged the $18.5 million sale of a community located in Eugene. Built in 1979, the property — Churchill Estates — comprises 241 independent living, assisted living and memory care units. A joint venture acquired the community from the sellers, Ron and Joyce Knutson.  

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Company NewsSeniors HousingSoutheastTennessee

Brookdale Senior Living, Largest U.S. Seniors Housing Operator, Names Nick Stengle as CEO

by John Nelson

BRENTWOOD, TENN. —Brookdale Senior Living Inc. (NYSE: BKD), the country’s largest seniors housing operator, has named Nick Stengle as its new chief executive officer. Stengle will assume the role, as well as join the Brookdale board of directors, effective Oct. 6. Denise Warren, who has served as interim CEO beginning in April of this year following the departure of president and CEO Lucinda “Cindy” Baier, will step down and reassume her role as non-executive chairman of the board. According to Brookdale, Stengle’s selection was the result of a comprehensive search led by the board’s search committee. Stengle previously served as president and chief operating officer of Gentiva, a role he assumed in 2022. Gentiva, which employs more than 12,000 associates, provides hospice, palliative and home health services at 550 locations across 38 states. Prior to his tenure at Gentiva, Stengle served as executive vice president and chief operating officer for Sunrise Senior Living, leading community operations, sales, marketing and clinical operations for roughly 250 seniors housing communities. His experience also includes an 11-year career with the U.S. Air Force. “While I have enjoyed my time as interim CEO, I am confident Nick has the strategic acumen, vision and leadership skills …

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FeaturesMultifamilySeniors Housing

Do the Benefits of AI in Senior Living Outweigh the Risks?

by Taylor Williams

By Eric Taub When Bluetooth burst on the scene, Procter & Gamble thought it would be a great idea to incorporate the technology into its Oral-B toothbrushes.  We can see how well that went over. And now that we can buy what is claimed to be the world’s first artificial intelligence (AI)-powered office chair from Backrobo, you’d be forgiven for thinking that our obsession with this latest technology is another prime example of irrational exuberance. AI has entered the “inflated expectations phase” of the so-called hype cycle, the point at which a new technology is touted as being able to solve everything. Unfortunately, that’s typically followed by a backlash of disillusionment, as AI companies fail and solutions don’t work. The rapid growth of AI makes this an ideal time to take a rational look at how the technology is applied to senior living. Industry observers and executives believe that, if done right, AI holds great potential to improve senior living operating efficiencies as well as the well-being of its residents. Several factors are generating heightened interest in the role of AI in senior living. Aging and Health Technology Watch, a market research and analysis platform focused on the intersection of …

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Kettner-Crossing-San-Diego-CA
Affordable HousingCaliforniaDevelopmentMultifamilySeniors HousingWestern

R.D. Olson Completes $30M Affordable Seniors Housing Development in San Diego

by Amy Works

SAN DIEGO — R.D. Olson, an Irvine, Calif.-based general contractor, has completed the construction of Kettner Crossing, a $30 million affordable housing community situated in San Diego’s Little Italy neighborhood. Bridge Housing Corp. was the developer. Totaling 64 units, the residences are reserved for seniors age 62 and older earning no more than 30 to 60 percent of the area median income. The building also features 2,200 square feet of commercial office space available for lease. Amenities at the community include a rooftop overlooking North San Diego Bay, an open-air turf space, community room and library. A majority of the units (55) feature one-bedroom layouts, and the remaining units are a mix of two-bedroom and studio apartments. The County of San Diego provided the land as well as some financing for the development, which took two years to complete, and partnered with Bridge Housing Corp. to bring the project to fruition. Specifics of the funding were not disclosed, but the state issued $2.5 million in federal low-income housing tax credits to the capital stack. The project team also included architect AVRP Studios, construction manager JLL and civil engineer Fuscoe Engineerings.

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AcquisitionsKentuckySeniors HousingSoutheast

LTC Properties Completes $40M Acquisition of Two Seniors Housing Communities in Kentucky

by John Nelson

WESTLAKE VILLAGE, CALIF. — LTC Properties has completed the acquisition of two seniors housing communities located in Kentucky. An undisclosed seller sold the properties for $40 million. Opened in 2023, the properties together total 158 units and feature assisted living and memory care residences. Charter Senior Living manages the communities, the locations of which were not disclosed. California-based LTC plans to execute an additional $195 million in seniors housing operating portfolio acquisitions by mid-October and an additional $90 million by the end of the year.

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Eagleview-Landing-Exton
DevelopmentMultifamilyNortheastPennsylvaniaSeniors Housing

Hankin Group to Undertake $67M Expansion of Metro Philadelphia Seniors Housing Community

by Taylor Williams

EXTON, PA. — Hankin Group will undertake a $67 million expansion project at Eagleview Landing, its senior living community in Exton, roughly 30 miles west of Philadelphia. Upon completion, the expansion will add 117 independent living residences to the property, which currently consists of 107 assisted living and memory care units and 9,000 square feet of amenity space. The new building will also feature additional amenity space, including a fitness center, indoor pool, spa, theater, game rooms and golf simulator. Residents will also have access to a parking garage, landscaped courtyards and walking trails. Completion is scheduled for November 2026.

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ColoradoDevelopmentMultifamilySeniors HousingWestern

Headwaters Begins Preleasing at 172-Unit Active Adult Community in Northglenn, Colorado

by Amy Works

NORTHGLENN, COLO. — Headwaters has begun pre-leasing at Aspendale Northglenn, the owner and developer’s new active adult community in Northglenn. This project marks the second Colorado location for the newly launched Aspendale brand. Headwaters broke ground on the development in April 2024. Scheduled to begin move-ins in early 2026, the community will total 172 apartments across four stories. The property will also feature an 8,800-square-foot clubhouse, which will offer lifestyle programming, wellness spaces and gathering areas. 

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